TRON (TRX) – Why it is Hugely Undervalued Right Now
What is TRON?
TRON is a decentralized operating system with the goal to provide a worldwide, free content distribution platform. They aim to achieve this through distributed storage technology and the use of smart contracts. In the TRON-ecosystem, anyone can publish and store date.
It is planning on allowing creators to offer their content on their platform and enable consumers to pay for it in peer-to-peer transactions, cutting out the middleman. It is the opinion that “the Internet is not free” and wants to enable anyone to own and control their data.
The native currency of the TRON-network is called Tronix (TRX), and it is an ERC20-token on the Ethereum blockchain. The token will be used to purchase media content or in-game items once the mainnet launched.
Who founded TRON?
It was founded by its current CEO Justin Sun. Sun has a master’s degree from the University of Pennsylvania, is the former chief representative for Greater China of Ripple and was featured in the Forbes Asia 30 under 30 entrepreneurs. They raised 70 million $ through an ICO in September 2017.
Can it be mined?
No, TRX cannot be mined. All of the existing TRX-tokens are ERC20-tokens on the Ethereum blockchain.
What differs it from other Cryptocurrencies?
TRON is planning on building a new, censorship-resistant Internet.
Its unique features are:
- Data release: Upload and distribute any kind of media content
- Personal ICO: Allowing anyone to distribute digital assets
- Infrastructure: Including decentralized exchange, offline games, prediction system
How much is TRON worth today?
What is the total and the circulating supply?
The total supply of TRX is 100,000,000,000 and the circulating supply at the time of writing is 65,748,111,645 TRX.
Where can you buy TRX?
You can buy TRX on several cryptocurrency exchanges, most notably Bithump, Binance, Upbit, Huobi, and OKEx.
Can TRX be sold for cash?
You can sell TRX for cash on several cryptocurrency exchanges that have fiat-pairings, most notably Upbit and Ethfinex.
TRON is currently in Testnet. The roadmap has six stages, with such remarkable names as Star Trek, Apollo and Great Voyage.
We are now in the second stage, which is called Odyssey. It remains to be seen if we ever see a functioning TRON-network.
Verdict and Rating
There are serious accusations of plagiarism against Tron. Several parts of the Whitepaper are astoundingly similar to passages from the IPFS- and Filecoin papers. Sun declared that this was a mistake made by voluntary translators who translated the original Whitepaper which was written in Chinese.
Additionally, it claimed to have over 30 Million Users, which is highly questionable. On top of it, six billion TRX-tokens have been transferred and sold out of a wallet-address that many associates with Justin Sun. Speculations of an Exit-Scam occurred.
Although Sun denies that the questionable account belongs to him, there is a Cryptokitties-Account with the name “Justinpets” linked to this particular Ethereum-address.
To stay safe and eliminate every risk of being scammed I advise to stay away from TRON. There are way too much uncertainty and obscurity surrounding this project.
DisclaimerThe above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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