Tron (TRX) is known for hyping itself in 2018, mostly due to founder Justin Sun’s unabashed tweeting and enthusiasm for his project (he is CEO of the non-profit TRON Foundation.)
However, the hype is beginning to grow some roots, and Sun’s dedication continues. Investors and hodlers are just hoping that his team and the tech itself will stand up to the weight of expectation, and also prove secure. It carries a lot of people’s hopes and dreams for a new kind of internet, which are fuelled every time there are stories of data breaches, censorship slights and centralised technical issues. Ethereum has carried these hopes for longer, but is struggling to adapt its older, slower, (but more robust) nature.
One thing about hype is it can do just what is required: attract interest and participation in the Tron network, which for crypto, in this current winter, is a good thing. And it’s working. Here in 2019 the TRON mainnet (live since mid 2018) is achieving very good growth in terms of dapp creation and transaction volume.
What has also helped the TRX cryptocurrency, is the acquisition of BitTorrent, meaning that crypto will now play a vital role in rewarding file-sharing and downloading. [At the time of writing, this integration – Project Atlas – has yet to complete successfully.]
The worry is that when you grow too fast issues can emerge. People have said that TRON is trying to do too much, where other networks or tokens are trying to solve more specific problems in the crypto space. Initially TRON was aiming exclusively at entertainment and games, but has now expanded its scope to be a rival to EOS and Ethereum. Why not? Since you’d need that kind of firepower to be an entertainment-focused blockchain.
So what will TRON offer? It still wants to be this decentralised platform for dapps so it can challenge centralised app-stores Google, Apple etc, while ensuring that data always remains in the hands of the user. In fact, it’s a very different model that should also now be able to reward creatives and developers directly, as well as allowing them to raise funds and network resources straight from fellow users via tokenisation. Imagine a street busker with his hat in the road. Similarly, Tron can cut out the middle-man and allow users to reward content with TRX. It still has a focus on entertainment and games, and believes that games will be the driving force of this new decentralised web.
Comparison with other Blockchains
Tron has stolen some of the shine from Ethereum, which is still ahead in terms of its size and ability to launch and manage ICOs via its native tokens. However, these tokens need resources and scalability, and Tron hopes to invade this space, without suffering from the same slow-downs, while keeping secure and reliable.
How is it better? Tron uses Delegated-Proof-of-Stake, which is a faster consensus protocol, amongst other aspects.
EOS is a closer rival, as it also uses this type of protocol, and also has large resources and support behind it.
They all have similar intentions though: to challenge the old business model, so it’s almost a shame there has to be (heated) rivalry.
Roadmap and Development
The TRON roadmap is ambitious and futuristic with, of course, some epic-sounding titles. While there are bound to be bumps in the road (hopefully not expensive ones), the project is in early stages in the big scheme of things. The later stages will be harder, as it will have to confront the same issues as Ethereum if it hopes to be an ICO platform, with a Turing-complete language, and be faster, while remaining secure.
Therefore, the Tron Virtual Machine and its integration with the network, could be the next exciting thing to watch out for.
The race to provide these distributed computing potentials is very much alive, but you can only test such things when you have grown a vast, live network, like Ethereum has. But development with TRON is continuing at a strong pace.
One thing crypto projects have to contend with, is that everyone is in it for the token price today, and frequently forget the whole point and scope of these projects. Soon we should see TRON find better ways to retain token-holders and stake TRX on the platform, similar to trends with EOS and Ethereum with similar network resource-trading concepts emerging.
There is already the ability for token holders to ‘freeze’ TRX, for bandwidth or energy. The former is for transactions (such as voting for SPs) while the latter is more for developers who need network resources.
Aspects like these are still new to early users, and it will take time for everyday users to adapt to this new way of ‘using’ a network that, with traditional centralised systems, require only a simple log-in. The same goes for killer dapps to start drawing people in. Right now, the successful Tron dapps are gambling dapps like TRONbet, but with user-engagement already higher than Ethereum’s.
With its heart in the right place, it’s very possible that TRON will overcome obstacles and win over sceptics, and continue to build a vibrant community that engages with it, helps to identify its bugs and issues and votes for the right 100 leaders (or Super-Representatives) to guide the network.
These new global blockchain networks of the future look towards bringing the world closer together via their new, common digital cryptocurrency. Vibrant ecosystems where the tokens can thrive, as well as robust networks and killer dapps, will be the driving forces. It might just be a case of that 1980s science-fiction TRON film becoming real, in many respects, with these brave attempts to bring about a new world, free from the control of high-and-mighty Master Control Programs!
Interact with TRON today
Buy TRX on Binance
Check out the TRON dapp store.
Download an official TRON wallet
Note: I get on well with TRONwallet. It’s got a cool-looking interface, is pretty clear with sections for Sending/Receiving TRX to addresses, as well as the ability to ‘Freeze’ and vote for Super-Reps. Then there is an in-built dapp browser too, and it’s a wallet with its own roadmap.
Other Resources and Engagement
Read more about TRON tech (wiki)
Note: This entry forms part of my personal adventures in crypto-space. Comments, ideas and corrections really appreciated to enhance my site and help me educate/be educated. I may even ask you for your (best) crypto address so I can send a tip in exchange for quality info.