Cryptocurrency TRON (TRX) – detailed overview, features and disadvantages, rate chart

Tron - what is it? Quite popular queries on the Internet include “tron wiki”, “tron wikipedia” or “trx cryptocurrency latest news”, “trx forecast”. Why are people so interested in this project? Let's take a closer look at it.

The TRON (TRX) project is a cryptocurrency whose developers are currently developing the idea of ​​collaborative consumption, which is that users will be able to exchange entertainment content on a single global platform.

What is TRON?

The TRX coin is a means of payment for the TRON project of the same name, which aims to be the new Internet in the entertainment industry.

Blockchain development plans to become a global ecosystem for the gaming sector, while the latter will receive a unique space free from censorship, various payments, commissions, copyright violations and other unpleasant aspects for both entertainment content developers and its users.

The project has been under development since 2022 , when the cryptocurrency was presented in the form of tokens on the Ethereum blockchain, from where they were successfully transferred to its own blockchain in 2018 . Now the project is at the development stage, however, this does not in any way prevent the TRON cryptocurrency from gaining sufficient popularity in the world of blockchain technologies.

Moreover, the coin is actively used as a means of payment. Readers of my blog are probably already familiar with some investment projects running on smart contracts on the TRON blockchain.

The idea of ​​the developers is extremely simple - TRON should become a kind of distributed network for storing entertainment content, which the user can access from anywhere in the world. In addition, various applications will be created and launched on the platform, which will be able to have their own tokens.

The prospect of developing such a platform seemed very interesting to investors, thanks to which the project raised 15,000 BTC during the ICO.

Tron Price Prediction: Market Opinions

To better understand this TRX price forecast, we've included data from the best price prediction sites for June and the rest of 2021.

Tron Price Forecast for June

Walletinvestor

Walletinvestor expects the price of Tron to fall for at least the next 14 days. Their price forecast suggests that the price could fall as low as $0.06030 during this period. The maximum price is expected to be $0.0761.

30%

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Tron 30rates price forecast for June is not entirely bearish, but not that bullish either. Their end-of-month price forecast is $0.064. The highest expected price for the month is $0.068, and the least expected is $0.060.

Digitalcoinprice

This is one site that is quite bullish about the price of Tron in June. Their Tron price forecast puts the average coin price at $0.12212885 for June. According to their calculations, this will be an increase of 67.07%. This will be one of the months with the highest average price.

Tron price forecast for the rest of the year

Trade Beasts

Before the end of 2022, Tradingbeasts expects Tron to reach a maximum price of $0.1215452. Their TRX price forecast puts the minimum price for the year at $0.0760585. Based on this forecast, there will be consistent growth in the future.

Longforecast

Longforecast expects Tron prices to rise sequentially until the end of 2022. This will see it reach a high of $0.111 in December, while a low expected price of $0.048 could be reached between July and August, according to their website.

Previsionibitcoin

Previsionibitcoin is quite bullish on Tron. The TRX price forecast for the rest of the year states that the price could rise to $0.2 by December 2021. The projected price of $0.11 for July would be the lowest going forward.

TRON cryptocurrency rate

At the time of writing this review, the TRON cryptocurrency ranks 15th in the ranking of cryptocurrencies, according to the authoritative service Coinmarketcap. has been consistently among the top for several years . But the number of existing cryptocurrencies has long exceeded 7000! Currently, the total Tron cryptocurrency market volume is more than $1.9 billion, and the coin price is $0.026 per 1 TRX.

It can be noted that, like the majority of cryptocurrencies, Tron is predominantly under the influence of a bearish trend, and the value of the coin has not shown rapid jumps for a long time. Like Bitcoin, the peak moment for TRX was January 2022, when the price reached $0.22 per 1 TRX.

And although throughout the entire period of the market decline, Tron showed minor jumps in value on which it was possible to make money, the breakthrough expected by investors has not yet happened.

Blockchain Explorer

Block Explorer is a search tool that allows you to view the addresses of wallets involved in the system, blocks, as well as data of completed or ongoing transactions. It can be compared to standard browsers, with the help of which the average user searches for the information he needs on the Internet.

For each cryptocurrency, its own personal Block Explorer is created, which shows the state of the network for a given period of time. The Tron cryptocurrency has such a Block Explorer called TRONSCAN , where users can get all the information they need (https://tronscan.org).

Features of TRON cryptocurrency

As I noted above, at the initial stage of its existence, the TRON cryptocurrency did not have its own blockchain and worked on the Ethereum platform. It was on its blockchain that TRX tokens were issued, which after the launch of Tron’s own network were exchanged for coins. Currently, TRON is an independent project with its own blockchain, but all the main work on the development of the ecosystem is still ahead.

Unlike Ethereum, with which Tron is often compared, the project is concentrated on a narrower range of tasks, due to which the developers pay great attention to its adaptation for the entertainment sector and do not scatter themselves on unnecessary functions.

Already, the site is significantly ahead of its competitors, because it is capable of processing up to 10 thousand operations per second , and this figure is not final and will increase in the future.

What distinguishes TRON from Ether is the network consensus algorithm, because instead of proof of work (PoW), proof of ownership (DpoS) is used. Thanks to this, not those who have more power, but those who own coins . This is what solves the issue of scalability and throughput.

Buying and selling TRX coins

You can buy Tron on popular crypto exchanges, we recommend using the first 15 exchanges, and do not forget to install additional account protection. On the selected exchange you must go through the registration procedure, after which you are provided with a personal wallet, as well as its address.

The most popular and safe exchangers where you can buy and sell Tron:

• Binance;
• Exmo;
• Huobi;
• Livecoin.

The rate of the Tron cryptocurrency to the ruble as of October 28, 2019 is 1.29 rubles per 1 coin. We recommend looking at a detailed analysis of the coin rate and chart on the Coinmarketcap website.

Disadvantages of the coin

One of the key disadvantages that the community presents to the TRON cryptocurrency is precisely the DpoS consensus algorithm. On the one hand, it provides great advantages, on the other, the project cannot be called decentralized, because decisions in it are made by 27 supernodes chosen by coin holders by voting.

If we consider this feature objectively, then this is too small a number of full nodes, which could become a serious threat to the security of the project in the future.

Another disadvantage is the large number of scandals surrounding the TRON cryptocurrency. Even at the ICO stage, it became known that the project’s White Paper in English contained entire pieces of text stolen from other well-known projects. The developers blamed this failure on the translators, who allegedly did not correctly translate from Chinese. However, the English version of the White Paper was deleted and the correct version has not yet appeared.

No less loud scandals affected the distribution of tokens. It is known that during the initial offering of coins, only 40% of their total quantity was sold, while the remaining 60% were distributed between developers and investors unknown to the world.

Therefore, it is not surprising that transactions with TRX on cryptocurrency exchanges received special attention, and when the main leader of the project, Justin Sun, sold $300 million worth of coins, another scandal erupted.

Where to store the Tron coin

So, Tron cryptocurrency can bring you excellent income in the future, so you need to learn how to store it correctly and securely. Next, we will describe the best wallets for securely storing Tron cryptocurrency. Many consider Tron to be Ethereum's main competitor, as both companies are pursuing the goal of creating a decentralized network, and therefore, like Ethereum, Tron can also one day "take off."

Ledger Nano X - hardware wallet

Chances are you already know about the Ledger Nano S, but the Ledger Nano X is all the features of the S model, only better and more. Nano X has a battery and Bluetooth, so it can be used on iOS or Android and other OS without a USB connection. In addition, the design has become even more stylish with an improved display, but the information displayed on it is the same (for security purposes). In addition to its cool design and other conveniences, Ledger Nano X supports 1000+ cryptocurrencies, including TRX coins, and gives you control of your Thrones holdings using a seed phrase. Make sure that the seed phrase is secure, as losing it will mean the loss of all crypto assets stored on the device. You will be able to manage your TRX through the Tronscan desktop program (developed by the Tron community) directly on your Ledger Nano X device. And most importantly, always buy Ledger Nano X from the official website.

Ledger Nano S - hardware wallet

This wallet is rightfully considered the best cryptocurrency wallet you can buy. It offers device-level security and supports a huge number of coins, including the Tron cryptocurrency. Moreover, it looks like a small flash drive with an OLED display, through which you can always control your private keys. With this wallet, you get the latest updates and the new Ledger Live app, which provides an impressive set of wallet features. Ledger Nano S recently launched support for Tron coins, and now you can seamlessly store and manage your Tron assets through the Tronscan desktop program. Tron's private keys always remain on the device, and through the Tronscan application you can always access them.

Recommended material

For those who want to learn more about Ledger hardware wallets. In this article we talk in detail about the Ledger Nano S and Nano X models, and the Ledger Live application. We are sharing instructions on how to restore a wallet and verify its authenticity.

Trust Wallet - mobile wallet

Trust Wallet is a wallet that you can trust with Tron cryptocurrency. This mobile wallet is one of those that the Binance exchange has acquired. You can store Bitcoin, Ethereum, ERC20, ERC223 and Tron on this wallet. You don't have to worry about the safety of your assets if you use a Trust wallet - you always control your savings using the seed phrase that will be generated during the first installation. Moreover, with this multi-currency wallet, you get a Web3 browser, allowing you to interact with decentralized applications (DApps) directly from the application. Currently, Trust supports versions for Android and iOS.

Tron Android Wallet - mobile wallet

An official wallet for Android OS users, developed directly by the Tron team, it will be an excellent option for storing TRX cryptocurrency. You can be confident in the safety of your assets: the wallet generates a mnemonic phrase for recovery of 24 words. Additionally, this wallet can only store and send Tron cryptocurrency; You can also add private keys from other wallets into it.

TRONWallet - mobile wallet

TRONWallet is a secure P2P crypto wallet and exchange for users of the Tron platform. TRONWallet is officially supported by the Tron Foundation and is their recommended wallet. With TRONWallet you get a beautiful design and security since you will always control your private keys. You can also make several TRONWallet wallets for free. At the moment, this is the only official wallet available on both iOS and Android.

It is preferable to store TRX offline for greater security, avoid online wallets if possible. Recommendations to increase asset security: do not save private keys or mnemonic phrases in digital files or devices, use antivirus software and use only trusted Tron wallets.

Tronscan Wallet - online wallet

The popular online wallet for storing TRX requires choosing a strong password to install the wallet. Once you have chosen a password, it requires you to save a keystore file on your PC and the private keys. But if you lose your password and keys, then even the Tron Foundation will not be able to help you regain access to your wallet. The wallet is accessible from any device.

Exodus - desktop wallet

The famous multi-currency wallet for PC began supporting Tron. The Exodus wallet features an intuitive interface that will allow you to effectively manage your cryptocurrency. To use the Exodus wallet, you do not need to register anywhere or go through verification. Instead, you need to download it and write down the seed phrase to enter the wallet. Storing the mnemonic phrase is extremely important, since Exodus does not support any system rollbacks. The wallet is available for different OS: Linux, Mac, Windows.

TRON tokens

Within the TRON ecosystem, the main means of payment will be the cryptocurrency TRONIX or TRX , while application creators will be able to issue their own tokens. Especially for this, our own TRC20 system standard was developed, on the basis of which the BTT coin (BitTorrent Token) has already been launched.

In addition, Tether crypto-dollar tokens have been issued on the Tron platform since 2022. The release of USDT standard TRC20 was supported by a huge number of large cryptocurrency exchanges. And the very fact of cooperation between projects became an important stage in the development of TRON, which expanded the capabilities of the platform by adding an analogue of fiat funds.

Tron's main competitors

The project has two main competitors - Qtum and Ethereum. Each competing company has its own advantages, for example, the first has a more advanced platform in terms of technology, and the second wins due to smart contracts and fame.

Analysts are confident that the Tron platform will still have to fight for its users, since the developers are targeting a specific audience. However, Tron does not have any special advantages that would distinguish the project from its competitors, which could become a serious problem in the future.

The project team

The project is led by an organization from Singapore called the Tron Foundation , led by millionaire Justin Sun. The project is declared as non-profit, and many experts well-known in the cryptocurrency field had a hand in its implementation.

As for Sun himself, he is famous for his collaboration with the Ripple Labs project as its representative in China. At the moment, Justin Sun is not only a very rich man, but is also consistently included in the ranking of the most successful people in Asia.

Tronix (TRX) Development Team

The personality of its founder, Justin Sun, is also important for understanding the prospects of the TRON project. Undoubtedly, this entrepreneur is also a media person, a lover of hype and sensations. The ICO of the project, which took place in China at the end of 2022, was already subject to the ban by the Chinese authorities on conducting ICOs in the country. It seems that Jack Ma, the owner of the Alibaba Group corporation, could not have done this without the influence. Tron team leader Justin Sun, who is only 27 years old, has already served as the head of Ripple China. The core of his team moved with him to TRON from the Chinese Ripple. Also participating in the project are Chinese businessmen such as Tan Bingsen (creator and head of Clash of Kings), Dai Wei, creator and head of OFO, Yin Mingshan, creator of LiFan.

Justin Sun. Creator of Tron (TRX)

Justin Sun, one of the few global billionaires under the age of 30, is also known for his friendship with the founder of the Chinese online sales giant Alibaba. And any support from Alibaba will be a noticeable competitive advantage. The TRON Foundation and the management company are registered in Singapore, which is a jurisdiction friendly to digital currencies. The TRON Foundation is dedicated to providing grants in the project's cryptocurrency to the best developers and the most active users.

TRON Roadmap

There are many points in the developers’ plans and the Tron road map is scheduled until 2027. You can even say that now the cryptocurrency platform is at the initial stage of its formation, because all the main stages of development can be expected in the future:

• 2020 – development of mechanisms to protect user copyrights.
• 2021 – the functionality of the platform will allow ICOs for developers.
• 2023 – launch of a separate platform for operations with tokens issued on the basis of TRON.
• 2025 – creation of a gaming platform. On its basis, online games will be launched, in which it will be possible to enable monetization.
• 2027 – implementation of a fundraising platform. Developers will be able to receive donations from users necessary to create their projects.

conclusions

Since its launch, TRON has revolutionized several sectors. Many regulatory authorities have approved the coin and a team of specialized developers is working hard to promote it and increase its level of acceptance.

This guide is a self-assessment of how well TRX has been successful in the past and the chances that it will be successful in the future. So that's it for now. Our website is regularly updated with new material to help you in any way possible.

Send us an email or leave a comment below if you have specific content suggestions and one of our team will get back to you shortly.
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What is Bandwidth and Energy?

In many of its features, the TRON cryptocurrency differs from other coins, and you should understand them in order to understand how to use it more profitably, for example, in terms of paying commissions for transactions.

Let's start with the fact that the Tron network has such concepts as “throughput” and “energy” that are atypical for other cryptocurrencies. If you are new to using this coin, then you probably wondered what it is.

Bandwidth is a kind of network resource. It provides the user with the opportunity to carry out a transaction without transaction fees. By default, the user has 5000 units of bandwidth, which decreases as transactions occur. But usually it is enough, since over time it is restored on its own, unlike energy.

As for Energy , this is a separate resource in the Tron network, which is used for the creation and operation of smart contracts. To perform a specific action, a smart contract consumes both bandwidth and energy, resulting in the movement of coins in the network. You can get new energy units by freezing coins , I will talk about this in the next subheading.

How to log into your wallet and find out its number

On the computer

You can log into your wallet using a password. Having successfully logged into the client, you can make the necessary settings, if required, and right on the main page you will have the opportunity to copy your account address.

It is to this wallet address that you can transfer money through exchangers or receive transfers from other users.

On the phone

When you log into your wallet, you will be asked to enter the PIN code you provided during registration, or scan your fingerprint (if you set up this security method).

After this, you will be taken to the main page of the crypto wallet and can use the search bar to find the balance you need. We indicate “TRX”, after which we select Tron from the list and find ourselves in the wallet section, in which all operations with this cryptocurrency are directly carried out.

To find out your Tron address, you need to use the copy icon on the TRX balance page. You can also go to the “ Receive ” section of the wallet, where you will have the opportunity to copy the address or use the QR code.

How to reduce commission to a minimum? Freezing our coins

There is a commission on the Tron network, and although it is relatively small, if there is an opportunity to reduce it, you should take advantage of this opportunity. As I said above, for carrying out an operation you will be charged units of throughput and energy, which eventually run out.

To get them again, you need to freeze TRX coins, during which their use will be blocked. The freezing will last three days , after which the money can continue to be used at your discretion.

In TronWallet

How to freeze funds and get energy or bandwidth in TronWallet ? Open your wallet by entering the PIN code specified during registration and first launch. You will immediately be presented with the main wallet page, where you can use the “ Freeze ” section.

Next, you will be asked to indicate: you want to receive energy for freezing or throughput. It's better to choose energy.

Below it remains to indicate the number of coins and confirm the operation. In the same section you can defrost your funds after three days. Please note that the more coins you freeze, the more network resources you will receive; be sure to take this into account when choosing the amount.

In TronLink

If you use the TronLink browser extension, then to freeze coins you need to register on the Tronscan website. After going to the resource, use the “ Registration/Login ” button. On the page that opens, you will be presented with a registration form in which you will need to select the “ Register ” link.

In the registration form, enter your email address and create a password. Below, accept the user agreement and go through the anti-bot check, then click the “ Create ” button. An email will be sent to the specified email address with a link to confirm registration, just follow it and log in to the site.

The next step is to select “ Link wallet ” in the top menu of the site.

Next, go to your TronLink wallet, where on its main page select “ Energy ”. A tab will open where you need to select “ Freeze/Unfreeze ”.

This will take you to the Tronscan website where you need to select “ Get ”. After this, select “ TRON Power and Energy ”, then all that remains is to indicate the amount of TRX to freeze and confirm the operation. A message will appear that your tokens have been frozen successfully, after three days you can unfreeze them through your wallet.

How and where to buy Tron

You can buy TRX on various crypto platforms, exchanges and P2P exchangers. We recommend doing this on the Binance exchange. There you can buy Tron and other cryptocurrencies using a bank card. You can pay in rubles.

How to buy TRX for rubles on Binance:

1. register on the platform using your email address;
2. undergo passport verification;
3. on the “Buy Cryptocurrency” page, enter the required number of TRX coins;
4. Click the “Continue” button and select a bank card for payment.

TRX price forecast for 2022

TRX is expected to attract institutional investors in 2022, especially with the plan to develop TRX into an institutional grade marker. Many organizations are expected to adopt blockchain technology this year, which will increase the acceptance of coins with the support of rapidly developing dApps.

As for the price, experts' forecasts for Tron in 2022 are divided: some predict that TRX will trade around $0.1, others expect a price of $1. For example, TradingBeasts puts TRX between $0.11 and $0.16 by the end of 2022. The only thing that is certain is that investors should expect huge swings in the coming year.

Forecasts suggest that by 2023, an investment in TRX will currently have an ROI of 1,536%, which means TRX will likely trade at $0.54 in the same year, reaching $0.763 in 2025. InvestingPR makes optimistic predictions, saying Tron could reach $1 in the next five years.

In truth, Tron is a project that many people don't like for one reason or another. However, it actually has a very vibrant and supportive community. According to the fundamentals, the future of TRX is very promising and could become even brighter than expected. If you're not ready for long-term investing but want to try to hedge your bets on Tron's price prediction, you may want to consider trading contracts for difference (CFDs).

Exodus

Exodus is the most popular desktop multi-currency wallet for storing hundreds of cryptocurrencies, including Tron. Exodus does not have any KYC/AML systems, so its crypto investors can immediately start managing cryptocurrencies by first recording private keys.

Currently Exodus is available for all operating systems such as Linux, MacOS, Windows.

Factors of growth and depreciation of the exchange rate

Tron's forecasts for 2022 are based on certain criteria that affect the value of a given cryptocurrency. The functionality offered by developers plays an important role. Users using this network can store and distribute content in the form of movies, games and music.

Strengthening Tron during October 2019

The platform opens up opportunities for creators of entertainment applications. Developers use expensive mobile applications for free and promote their titles faster. In fact, Tron is a blockchain analogue of such popular services as AppStore and Google Play. At the same time, not fiat money, but TRX coins are used to pay for content.

The key factors for the growth of the Tron cryptocurrency for 2022 include the following points:

• Large capitalization at low cost. This indicates the asset's stability and growth potential. These criteria will play a certain role in attracting users to the project, and this is always reflected favorably on quotes.
• Tron is traded on major exchanges. The currency is listed on many platforms, such as Bitfinex, Binance, KuCoin and Bittrex. An increase in trading volumes on them will give the coin an increase in quotes.
• Unique functionality in the torrent distribution segment. This is the most important growth factor. In the summer of 2022, the company acquired the BitTorrent service and can develop decentralized and secure methods of torrent distribution on its platform.

We also recommend studying growth factors and the forecast for the Bitcoin Cash rate for 2022 in a separate material on the website.