Trx Crypto: A Smart Investment Move?

TRON (TRX) is a cryptocurrency that has been making waves in the crypto market since its launch in 2017. With its focus on decentralisation, fast transaction speeds, and zero fees, TRON has become a popular choice for investors and traders alike. But is TRX a good investment? In this paragraph, we will explore the potential of TRX as an investment option and look at some of the factors that may influence its future performance.

TRX's price history and future predictions

Price History

TRX, the native token of the Tron blockchain, was launched in September 2017 with an ICO price of $0.001984 per token. In the following months, TRX rode the crypto bull market to reach an all-time high of $0.3004 on 5 January 2018. However, this high was short-lived, and by June 2018, TRX had entered a long ranging period, failing to surpass the $0.05 mark.

In 2021, TRX showed signs of recovery, reaching a local high of $0.16 in April and May. However, it failed to surpass its 2018 all-time high. The latter half of 2021 saw another crypto bull run, and TRX rose massively, but again, it did not beat its previous highs.

The end of 2022 was challenging for the Tron network, with the price of TRX dropping to $0.050 in November. The crypto market's volatility affected TRX, and despite establishing an uptrend, it couldn't break through the resistance and climb higher.

In early 2023, the TRX price chart showed a positive trend, with the token reaching $0.078 in May and $0.082 in June. This uptrend continued, and by mid-July, TRX reached a local peak of around $0.082. However, the trend reversed, and the price dropped back down to the $0.060-$0.070 range.

Future Predictions

Now, let's look at what the future may hold for TRX. It's important to note that cryptocurrency price predictions are highly speculative, and actual prices can differ significantly from forecasts.

• 2024: Experts have varying opinions on TRX's price for 2024. Some sources, like WalletInvestor and TradingBeast, predict an upturn, with potential highs of $0.176 and $0.2617, respectively. On the other hand, PricePrediction.net forecasts a more pessimistic outlook, with prices potentially dropping to $0.08019.
• 2025: TRX's price predictions for 2025 vary widely. TradingBeast forecasts a decline to $0.1286, while PricePrediction.net expects a further drop to $0.01059. In contrast, WalletInvestor remains bullish, predicting a price of around $0.228.
• 2026: Price predictions for 2026 are predominantly negative, with PricePrediction.net and TradingBeast anticipating prices in the $0.08019-$0.1226 range. However, WalletInvestor takes a more optimistic view, forecasting a possible high of $0.295.
• 2027: TradingBeast and PricePrediction.net maintain their pessimistic outlook, with projected prices of $0.04539 and $0.01362, respectively. WalletInvestor diverges from this view, predicting a significant increase to $0.372.
• 2030: Long-term predictions for 2030 vary significantly. TradingBeast and WalletInvestor are bullish, with projected prices of $0.1967 and $0.5729, respectively. On the other hand, PricePrediction.net remains bearish, forecasting a decline to $0.09078.

It's worth noting that these predictions are highly dependent on various factors, including market sentiment, regulatory changes, and the performance of the broader cryptocurrency market.

Additionally, it's important to consider the opinions of crypto experts and analysts, who generally view TRX as a good long-term investment. TRX's strong fundamentals, growing adoption, and partnerships with major companies like Samsung contribute to its potential for future growth.

While TRX has had its ups and downs since its launch in 2017, it has demonstrated resilience and steady growth over the years. With its focus on decentralisation, scalability, and innovative features, TRX has the potential to be a profitable long-term investment. However, investors should approach all cryptocurrency investments with caution due to the high volatility and risk involved.

TRON's decentralised internet vision

TRON is a decentralised machine created to boost the internet through decentralisation. It helps developers of decentralised applications build and use dynamic protocols through smart contracts in their native blockchain, in a similar way to Ethereum. The long-term goal of this cryptocurrency is to revolutionise the entertainment business.

TRON was created by Justin Sun and developed by the non-profit organisation the Tron Foundation, which has dual headquarters in San Francisco and Beijing. It was initially built as an ERC-20 token for the Ethereum network. However, soon after its launch, it moved to its own blockchain.

TRON has established in-depth cooperation with a number of world-class wallets and is listed on over 130 exchanges. It has the fastest-growing DApp ecosystem and is the second-largest public chain platform for DApps, overtaking EOS. TRON DApps were listed on the front page of the Samsung Galaxy Store.

TRON boasts over 74 million accounts and is the world's fastest-growing public chain. It has a three-layer architecture to prevent network congestion and can perform 2,000 transactions per second. The TRON ecosystem works as a content-sharing platform, rewarding users who create or share content with TRX, resulting in a fairer and more transparent monetisation system.

In December 2021, TRON became TRON DAO, a community-governed, decentralised, autonomous organisation connected to a diverse and growing blockchain ecosystem. TRON's low barriers to entry make it easy for everyone, regardless of experience level, to interact with its platform and discover the power of blockchain technology.

TRON's detailed guides, written by current developers for future developers, help builders explore TRON's unique architecture and core applications. They believe in providing their community with the tools and knowledge they need to #BUIDLtheFUTURE on TRON, empowering developers to build the next generation of blockchain solutions.

TRON's transaction speeds and zero fees

TRON's transaction fees are extremely low compared to other blockchain networks. The network uses a unique fee model, with two types of resources: Bandwidth and Energy. Bandwidth points are used to cover the cost of simple transactions, such as sending TRX from one account to another, and each Tron account gets 1,500 free bandwidth points per day. If users have enough bandwidth points, the transaction is free. If they run out, they need to pay a small fee of $0.000005 or 0.1 TRX per transaction.

Energy points are required when interacting with smart contracts on the Tron network. Executing complex smart contracts consumes energy points, which can be obtained by freezing TRX tokens. Without sufficient energy, users must pay a fee in TRX to cover the energy costs. The fee will depend on the complexity of the contract and the amount of energy consumed.

Tron's network can carry out up to 2,000 transactions per second, making it one of the faster blockchains in the crypto field. This high capacity helps prevent network congestion and keeps transaction times low, even during periods of high activity.

Tron's Delegated Proof of Stake (DPoS) consensus mechanism allows for rapid block production and validation, with a new block produced roughly every 3 seconds. This fast confirmation time makes Tron highly suitable for real-time applications, payments, and decentralised applications (dApps).

TRON's delegated proof-of-stake consensus mechanism

TRON is a decentralised blockchain platform that supports smart contracts and high throughput. It uses a 3-layer architecture: storage layer, core layer, and application layer. The core layer deals with consensus, and TRON uses a proof-of-stake (PoS) model. However, it has been adapted to a delegated-proof-of-stake (DPoS) consensus model, which is based on votes.

In TRON's DPoS consensus model, there are 27 super representatives (SRs) or witnesses who are responsible for verifying and packing transaction data. These witnesses are chosen based on the number of votes they receive. When the blockchain system starts, tokens are issued and given to nodes in the blockchain system. Nodes can then apply to be a witness candidate using a portion of the tokens. Token-holding nodes can then vote for these candidates. Every set period of time, the votes are counted, and the top 27 candidates with the most votes become witnesses for the next period.

TRON's DPoS model differs from the original DPoS algorithm as it includes an incentive for token holders to vote, making adjustments to DPoS. In TRON, 1 TRX token equals 1 vote, and users can vote for candidates by generating a voting transaction. During each maintenance period, the votes are counted, and the top 27 candidates with the most votes become witnesses for the next period.

The witnesses then take turns to generate blocks of data according to the bookkeeping order. Witnesses package the data of multiple verified transactions into each block. The hash of the previous block is included in each new block, and the witness signs the data with their private key. This process is called bookkeeping or block generation, and the average block interval of TRON is approximately three seconds.

TRON's DPoS model helps to ensure the safety and efficiency of the blockchain system. It also encourages more nodes to join the network, expanding its scale. Each time a block is generated, a block reward of 16 TRX is awarded to the super representative who produced the block, and a voting reward of 160 TRX is shared among all super representatives and super partners.

TRON's DPoS model is an efficient and democratic way to reach consensus on the blockchain. It eliminates the energy-intensive computational mining process and allows more users to participate in the creation of new blocks.

Controversies surrounding TRON and its founder, Justin Sun

Justin Sun, the founder of TRON, is one of the most controversial yet successful figures in the blockchain industry. Sun has been accused of creating hype around TRON on Twitter, with some believing it is a ploy to get people to buy TRX. This has angered investors in the past and led to suspicions about his intentions.

In 2023, employees sued Sun and the Tron Foundation for 'workplace hostilities', claiming they were harassed and eventually forced out of their jobs.

In March 2023, the Securities and Exchange Commission filed charges against Sun, accusing him of selling unregistered securities related to selling and promoting TRX and BTT. He and a few convicted celebrities had to pay over $400,000 to settle the case.

Sun has also been criticised for his silence regarding scams and controversies within the TRON community, which has spread fear and confusion among TRX holders. In one instance, a Chinese Ponzi scheme used the name "Wave Field", an alternative name for TRON in China, to scam thousands of investors out of $30 million. Sun only spoke up after a single mother committed suicide after investing in the scheme.

In another incident, Sun remained silent when former TRON CTO Lucien Chen announced his departure from the project, citing irreconcilable differences. Claims later emerged from TRON marketing circles that Chen had been fired months earlier for theft, bribery, and misappropriation of funds. Neither Sun nor any TRON representatives revealed this information to investors at the time.

Sun has also attracted controversy for his acquisition of the crypto exchange Poloniex. He was criticised for demanding personal ownership of misplaced Poloniex customer funds (about 300 Bitcoin) that users accidentally sent to the wrong wallet addresses. In November 2023, hackers stole about $120 million from the company, generating further negative attention.

Frequently asked questions