The year 2017 ended well for a lot of people, but for cryptocurrencies, it was amazing. Where Bitcoin reached a maximum of $18000 in December and then settling to $13000-$14000, another cryptocurrency Ripple saw 28000 percent increase in its value.
Here is one more Cryptocurrency, which is fairly new, that came up from nowhere and currently it is standing at 6th position in the cryptocurrency market.
The cryptocurrency we are talking about is, TRON.
TRON has jumped 12755% of its value in just one month. This is a growth that which makes the growth of other cryptocurrencies look like peanuts
On December 5 (2017), the share price of TRX, as TRON token is called, was $0.00215. As of January 06 (2018), it is trading at $0.276378.
TRON is actually founded by Justin Sun, a 26-year-old tech entrepreneur based in Beijing, China. TRON’s market capitalization has grown six-fold from $2.8 billion on January 1 to $18.7 billion on 6th January.
Barely 4 months old cryptocurrency is now the 6 most valuable cryptocurrency in the world. The internet is basically filled with reports about this new thing and I spent my coffee time reading a bunch of them so that you don’t have to. :-/
What is TRON?
TRON is essentially a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system.
The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents.
It also enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
Content providers will, therefore, no longer need to pay high channel fees to centralized platforms like Google Play and Apple’s AppA Store.
Bitcoin currently holds the market cap of 41.5% followed by Ripple, which holds 12.4% and Ethereum which is in the third spot contributes to the 12.3%
It seems the world is taking a keen interest in the cryptocurrency, even the Facebook founder, Mark Zuckerberg is keen to learn more about the cryptocurrency and looking forward to studying it’s positive and negative aspects and to bring to his own company to make their services better for people.