Is TRON(TRX) a good buy?
Is TRON(TRX) a good buy?


Let's start by examing with what Tron has to offer. The token offers the ability for anyone to write a code which can be built onto the TRX network, very similar to ETH. However, Tron works on a Proof-of-Stake system, in which token holders act as the block validators, rather than BTC and ETH's Proof-of-Work system, in which crypto is rewarded through the process of mining. In TRX, block validation is done via 27 "superrepresentatives" - TRX stakers who have been democratically elected by other TRX stakers. 

 

This system allows for Tron to perform transactions bounds ahead of other cryptocurrencies, with the Tron network handling over 2000 transactions per seconds, to BTC's measly 3 and ETH's 15.

 

To put it short, Tron is a quicker version of ETH, although without the huge mass adoption.

 

 

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Regarding price, TRX is at nearly it's lowest point in the past year, pricing in at just $0.013 USD, or 1.3 US cents. Compare this to the 52 week high of just over 4 cents, and the 52 week low of 1.2 US cents, and it's easy to see that TRX is at one of it's lowest points in recent times. Despite this, TRX remains the 12th largest cryptocurrency by market capitalisation, and a slight increase in price can push it into the top 10 position. 

 

On this simple basis, TRX is a good buy right now.

 

However, another factor is looking to push TRX upwards - China's new state backed cryptocurrency. Many cryptocurrencies tend to follow a price path similar to the largest crypto's, and it is likely TRX will do the same. When China's new cryptocurrency releases, many new Chinese investors will become aware of the existence of cryptocurrency, and their interest will eventually lead them to TRX. With a population of over 1 billion, the East Asian crypto market, of which TRX is part of, will suddenly gain a huge amount of interest, surely pushing prices up. Combine this with the technological prowess of the Tron network, and things are looking positive.

 

My recommendation? Get some TRX and stake it in Binance!


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manilpwn
manilpwn

Head programmer of the Miasma cryptocurrency Also write on medium under the name Kayde Smith


The history and public view of cryptocurrencies
The history and public view of cryptocurrencies

In this blog, I examine how the public views cryptocurrencies, and how the situation we are in today came to be.

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