- Price $0.024772
- Market Cap
Tronix is the official currency of TRON, a decentralised entertainment sharing platform. The platform was founded by a non-profit foundation that has its base in Singapore. Its main aim is to tackle the global entertainment industry by leveraging blockchain and peer-to-peer. Essentially, the platform allows the creators of digital content to remove the need for a middle man. In today’s world, the middle men in this industry are companies such as the Apple Store and the Google Play store. Removing this middle man will allow the producers of the entertainment to get their funds directly from those purchasing their creation, without having to go through someone else first.
To put it simply, TRON is trying to take back control in the entertainment industry from huge corporations such as Google, Facebook and Amazon, and ensure that data ownership is back in the hands of who it is supposed to be, the creators. A good way to think of it is as a next-generation social media platform where you are able to create content and then share it with anyone, wherever they are in the world. Tronix is then the currency that you use to pay for your content, and is often referred to as simple TRX.
Those that create the content will be compensated for the data that they create, serving as a direct opposite to other social media sites such as Facebook.
TRON already has some huge partners in the entertainment world, such as oBike, a bike-sharing company that is based out of Singapore. One of the biggest benefits of using TRON is that you are impowering content creators ownership of what they create.
Like many digital currency, the TRX coin transactions take place on a public ledger, where the history of each transaction can be traced all the way back to the very first transaction that took place. This is similar to the model that Bitcoin uses, except that TRON is a new and imporved version with added security measures.
At the beginning
There are over 1,200 crypto currencies currently in existence, so it is hardly surprising that some people may not know about the existence of TRON, but it is clear that its future is looking bright. The coin emerged on 13 September 2017, and its value at this point was just 0.001 cents on the TRON price exchange. Again, this could be because not many people knew of its existence, so it seems to stay at around the same valuation until 27th September where it reached the 0.0025 mark, remaining in that area for around a month.
The fact that TRON’s value was staying so low for such a long time made investors start to scratch their heads. It was a platform that came with such promise, therefore it didn’t make sense that its value was only rising an a tiny pace.
An upwards trend
Things changed suddenly though on 18th December where its price skyrocketed to 4.4 cents, and then by December 23 it has reached 5.1 cents. This was more that growth that investors were hoping for.
TRON then peaked on January 15, where its value grew to 22 cents, which is a lot for such a short space of time. However, after this, things started to take a turn for the worst, and by the 2nd February it was only worth 0.04 cents, then down to 0.035 on March 13
On the first of Aril 2018, the value of TRON was valued at a little under 0.034 cents. Although this may not sound very much, it is a relatively new crypto coin, so it is hardly surprising that it is valued so low and its price so volatile.
Investors should remember that the creators of TRON are only in the beginning stages, and they are constantly trailing new things and preparing for the future. It is already available on 37 different exchanges, so is definitely one to watch out for.