During a time when the prices of most of the digital currencies are experiencing a steep fall, TRON, a relatively new cryptocurrency is showing robust growth. The TRON Blockchain platform was launched in December of 2017, and ever since its debut, it has been competing with the much established Ethereum network.
TRON can be described as a decentralized computing platform built for the development of free digital content entertainment system through distributed storage technology.
TRON competes with other top cryptocurrencies such as Bitcoin and Ethereum, as it can handle more number of transactions per second than any of them. While TRON Can handle 2,000 transactions per second, Ethereum can only handle 25, and Bitcoin is left far behind as it can handle just 3 to 6 transactions per second.
TRON garnered attention when its Founder, Justin Sun, acquired the peer-to-peer file sharing company BitTorrent for USD 140 million in June 2018.
Subsequently, BitTorrent announced the launch of its crypto called the BitTorrent Token which runs on the TRON network. The token can be used for the purpose of speeding up downloads. The deal would enable TRON to tap into the non-crypto community through BitTorrent’smassive user base.
TRON’s selling point lies not only in the access it has to the 170 million per month user base of BitTorrent, but the Blockchain network is also making waves since it provides the platform for the development of dApps or decentralized applications.
The real-world demand for the platform has thus resulted in an increase in the price of TRON’s cryptocurrency. As compared to December 2018, TRON’s price is up 42 per cent. At the time of writing this news, TRON was trading at USD 0.027.
Even though currently, it is trading in the red, TRON is still showing steady growth as compared to its rivals that have been in turbulent waters for some time now. Presently, with a market capitalization of 1.8 billion (at the time of writing the news), the crypto is the eight largest digital currency in the world.
While prices of cryptocurrencies are often driven by speculation, TRON’s price surge can be seen as hugely dependent on its beneficial Blockchain platform that serves real-world use cases.