Tron‘s been receiving a lot of positive news lately. A big chunk of the community is claiming that it is the “best performing” cryptocurrency of the year so far. We’re still very early in 2019, but Tron isn’t falling behind anytime soon.
Tron’s TRX token has made an impressive gain of 34% so far this year while those around it have all fallen. Starting the year at $0.0191 (511 satoshis) TRX surged to $0.0342 (843 sats) by January ten before falling back to $0.0255 (741 sats) where it currently trades. Since its 2018 low in mid-December Tron has doubled in price. No other crypto asset in the top thirty can match that.
But there’s way more to a business than just the price. There are the fundamentals and overall vision.
Tron and BitTorrent
One of the notable developments taking place in the cryptocurrency field is TRON’s purchase of BitTorrent which happened last year.
“One of the reasons we purchased BitTorrent, besides its great team, is that we’ll be able to test scalability like no one else, with 100 million monthly active users getting exposure next year to blockchain,” Sun says. “TRON and BitTorrent will continue to work on separate projects, while orbiting each other and collaborating on that goal of decentralizing the internet.”
One of those collaborations takes the form of Project Atlas, which will roll out next year as mentioned by Justin Sun, the CEO of TRON himself.
“That project will incentivize BitTorrent users to share more content through the use of cryptocurrency,” Sun says. In the process, the project aims to connect the BitTorrent peer-to-peer network and the TRON blockchain network in order to open up a global, borderless economy.
In addition to that TRON was able to invite the famous basketball player Kobe Bryant to join up at their annual event that occurred two weeks back in San Francisco.
Strong 2019 for Tron
Analysts have predicted that the value of the digital currency might hit the $12 mark by the end of 2019. Based on the analysis of the present value of the digital currency, they have also predicted that by 2020, the value of Tron could get to $52.91.
Tron is a new project with a lot of potentials, and it has secured a lot of partnerships too. Its partnerships and advantages could play a vital role in its value in the coming weeks, months, and years.
Justin Sun released this statement after the blockchain achieved a major milestone earlier this month. The network achieved 100M transactions over a period of 173 days. This means that an average of 578,034 transactions are being carried on the blockchain of Tron every day.
Martin Koppelmann said that a crucial statistic to use in measuring the growth rate of a smart contract protocol is the number of decentralized apps that interact with one another and the usage of decentralized apps. Koppelmann is the founder of Gnosis.ph – a prediction market platform based on the blockchain of Ethereum.
According to Koppelmann: “The usage of Dapps is the number we care about. The next thing is to look out for the number of decentralized apps that interact with each other and benefit from each other for being on the same platform. As a side effect, the value of Ethereum (ETH) will then be a function of the demand for the use of apps in this open, reliable, and interrelated environment.” Tron is a smart contract protocol just like Ethereum, and the value of Tron comes from the ecosystem of its decentralized apps and active users.
The top three decentralized apps on the Tron network have 2,300 users on average. TRONbet records 2,500 active users and a transaction volume of two million on a daily basis, according to DappRadar. DappRadar is an online platform that provides data on the usage of decentralized apps on major blockchain networks.
In comparison, the top three decentralized applications on blockchain of Ethereum has 700 users on average. The three biggest decentralized apps on the network are IDEX, Crypto Heroes, and ForkDelta. However, EOS accounts for the highest number of decentralized app users on its network.
EOS is the world’s second most valuable smart contract protocol after Ethereum. The top three Dapps on the network have almost 5,000 users on average; this is more than the Dapp users of Ethereum and Tron combined. The top three Dapps on EOS are EOS Knights, PRA CandyBox, and EOSBet.
The Dapp usage on the network of Tron has recently exceeded that of Ethereum in terms of daily active users and decentralized apps. Tron and EOS have been focusing more on scalability over the past couple of months. They are focusing more on scalability in their development with the aim of supporting as many decentralized apps as possible in the ecosystem. This is something Ethereum has been lacking, and that is why a lot of developers on the network are now moving to either the blockchain of EOS or Tron.