TRON, or TRX, is a digital currency that may be exchanged within a digital system. TRX has the advantage of being easily traded for local currency through bitcoin exchanges, making it a perfect instrument for international merchants. Miners are unable to mine cryptocurrencies because all coins were released at the time of its debut. Although there are 100 billion coins in total, over a third of them are held in the TRON company's wallet.
Furthermore, platform development has a ten-year roadmap in place. The primary goal of developers is to establish a completely autonomous and decentralized environment. Each user will have access to the content within it, as well as the ability to convert tokens and collaborate on the development of one or more projects.
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Before we proceed to the pros and cons, let's take a look at the few scandals which I was able to find regarding Tron or TRX.
Alibaba, the Chinese e-commerce behemoth, and TRON were rumored to be forming a cooperation in late 2017 and early 2018. It sparked even more interest in the cryptocurrency, but consumers noticed that the corporation made no official announcement regarding the collaboration over time. TRON's general director, Justin Sun, said that the cryptocurrency would work with Baofeng, a Chinese equivalent of a digital television channel. It was estimated that this enterprise would add more than 200 million additional users. This was announced on the company's Twitter account.
Bloggers and coin owners discovered that the Twitter statement was incorrect, as the relationship was with Baofeng's new blockchain section, not with the company itself. The branch is known as BCN (Blockchain Consensus Network), and while the main corporation has 200 million members, BCN only has a few thousand. As a result of this erroneous information, uneducated consumers began to demand bitcoin, while more experienced investors began to reject it.
Worse, TRON was already in the middle of a controversy at the time. Many programmers and people who have already purchased TRON currencies have found plagiarism in the platform's white paper. There were several parallels with the Filecoin altcoin in one of the English-language versions of the material. It wasn't plagiarism, according to Justin Sun, but a mistranslation of the material into another language. The public reacted quickly, with a new wave of scandals and detractors following the Tron coin.
Furthermore, the founder had to publicly refute claims that he had cashed his 6 billion TRX tokens (which is a third of the cryptocurrency that the company had in reserve). People claimed that even the developers were skeptical of the company's viability, so they chose to sell their currency swiftly and profit at a high price.
The upper mention scandals that involved Tron is not something that I can prove myself but I do think that its worth mentioning here for people to know what happened to Tron blockchain before.
Anyways, that was just a little piece of information to bare in mind. Always proceed with caution. Now let's talk on the advantages and drawbacks of Tron.
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Pros in investing in Tron
Despite the above-mentioned hate campaign and rumors, TRON still offers a number of advantages:
TRON aspires to grow the market for entertainment material, which has a bright future ahead of it. It has a video hosting service, a social network, a streaming platform, a gaming portal, an online casino, a payment mechanism, and an online edition.
TRON's major goal is to build a decentralized entertainment platform where users can create and monetize content without the use of middlemen.
A talented group of programmers designed the currency. Some TRON developers have worked for significant, well-known corporations, notably those in the cryptocurrency industry. Ripple Labs experts were instrumental in the development of TRON.
TRON can run a huge number of apps at the same time. The network currently has a capacity of 2000 transactions per second.
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Cons of investing in Tron
These pros of Tron sounds great but don not forget that there are always some bad sides of everything. Below are the disadvantages of Tron:
The TRON platform is frequently criticized for being overly centralized. Approximately half of all TRX coins on the market are held in ten addresses. As a result, the owners of these addresses have the ability to affect the cryptocurrency's price. The fact that none of the users knows who owns these tokens is a major stumbling block.
Only 15% of the total number of coins minted are available for private investment. The rest is owned by a small group of developers and wealthy investors. There is always the urge to move the TRON cryptocurrency rate in the right direction, no matter how the opposite is expressed.
Only the initial portion of the TRON project roadmap, which entails releasing the blockchain, has been implemented thus far. The remaining intentions for transforming the TRON blockchain into a decentralized Internet have been written down for several years. As a result, despite having its own network, the platform is still on its initial stage of development.
If you're still on the fence about buying TRON, there are a number of initiatives on the digital asset market that you should look into, and no one can stop you from learning more about alternative currencies.
TRON is still regarded as a good and widely used coin. The dynamism of the cryptocurrency market, on the other hand, is always changing. Furthermore, it has the potential to shift the market's power balance. Other significant and difficult initiatives can also be developed. So, don't forget to stay in touch!
Note: Do not take this as a financial advise. Its been created for information dissemination only.
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if it manages to ally itself with the Chinese market it will be very successful, we will be watching this Crypto