Is Tron a Viable Ethereum Alternative? Comprehensive TRX Review

Tron is a smart-contract platform (such as Ethereum) that generally focuses on decentralized entertainment and media. Originally designed in Singapore, Tron is heavily influenced by its eccentric and controversial creator Justin Sun. Tron made a rise into being consistently in the top 20 cryptocurrencies in the world by market cap shortly after its launch in 2017. Having TRON be based on the popular programming language Java, it seems as though Tron is imitating some of the good decisions made by the Ethereum blockchain, focusing on the development experience.

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General Overview

The Benefits PRO's
  • Tron focuses on providing superior throughput and scalability
  • Tron acquired BitTorrent in order to massively increase the blockchain network’s overall userbase
  • According to DappRadar, some of the most of the popular dapps are being built on Tron
The Downside CON's
  • Various controversies surrounding Tron, such as parts of the white paper being plagiarized from other projects
  • Tron has a long way to go to complete its roadmap. Forecasted to be finished in 2025.

Best Exchanges for Buying Tron

You can buy Tron (TRX) at the following cryptocurrency exchanges:

Best Tron Wallets

Our recommended wallet for storing TRX is the Ledger Nano X. There are many wallets that are strong options for Tron, including:

 

Ratings

Price

All-Time High: $0.300363 USD (Jan. 05, 2018)
All-Time Low: $0.001091 USD (Sept. 15, 2017)

Market Cap

$1,197,766,837 USD

Supply

Circulating Supply: 66,682,072,191 TRX
Total Supply: 99,281,283,754 TRX

Network Speed

Rating: High
Transactions Per Second: 2000+ Tx/s. Tron network also has zero transaction fees.

Disbursement

Rating: Medium
A third of Tron’s token supply is held by the Tron Foundation. Although the foundation originally declared 33.25 billion Tron tokens as unavailable for use back in 2017, the lock associated with these funds expired in January 2020. TRX doubles as voting power to govern the network, if the Tron Foundation controls 33% of the tokens of the network, then this might be a level of centralization that is uncomfortable for some users.

Developer Engagement

Rating: High
The Tron Foundation possesses a large amount of funds at their disposal for funding any development efforts for the Tron network. The funds unlocked in early 2020 were worth nearly $450 million at the time.

Liquidity

Rating: Medium
Tron currently caters to roughly $55 million worth of real daily trading volume, according to CoinMarketCap. This places Tron consistently in the top fifteen cryptocurrencies; nevertheless, these trading levels are nowhere near those of Bitcoin.

History of Tron

Justin Sun founded Tron back in 2017. The initial coin offering (ICO) raised $70 million for the Tron Foundation. In its early days, Tron faced a number of allegations of plagiarism from other cryptocurrency projects and pundits.

In 2018, the TRX token was migrated from Ethereum to its own native blockchain. In the same year, the Tron Foundation acquired BitTorrent, a company that operates the massively popular peer-to-peer file sharing network under the same name. A separate token for BitTorrent was also eventually launched on the Tron blockchain.

Advantages of Tron

The advantages of Tron over other smart contract platforms remain unclear, such as Ethereum, which is more developed than Tron. Currently, the price action related to TRX has clearly correlated with the promotion of Tron by Justin Sun and the Tron Foundation. While sideshows such as a canceled lunch event with the investing legend Warren Buffet attracted a lot of attention to the platform, it’s unclear what advantages Tron offers at a technical or fundamental level.

Disadvantages of Tron

A key disadvantage of Tron is that Ethereum already exists, and Ethereum has much greater developmental and monetary network effects built around it. For Tron to have any substantial role in the market, it will need to delineate itself from pre-existing platforms.

Additionally, a basic function of most blockchain networks is to offer censorship resistance, which is provided by the particular network’s relative level of decentralization. Tron’s future is highly reliant on funding and promotion from a centralized source, namely Justin Sun and the Tron Foundation.

Tron FAQ

About the Author

Arthur Crowson, CryptoVantage

Arthur Crowson

Arthur Crowson is an award-winning writer and editor who hails from the Pacific Northwest. His career began in traditional news media but he transitioned to the online arena in the mid-2000s and has written extensively about the online poker boom and the rise of cryptocurrency.