Made in China: 11 interesting facts about TRON “gaming” coin
I can name tens of “gaming” crypto coins today such as EnjinCoin, EthBet, HEROcoin, FirstBlood, etc. However, as a blockchain enthusiast, a gamer and a founder of a project that helps streamers, I chose TRON. I was attracted not only because of its opportunities for gaming industry and because of the famous name (which obviously has a connection with the remarkable Disney movie about the virtual gaming universe). The reason is that TRON along with Cardano (ADA), Stellar (XLM), Verge (XVG) is among the most promising alternative coins (altcoins) with a cost less than $1. The top of this list is headed by Ripple, a project that inspired Justin Sun, the creator of TRX, who is still a representative and an advisor of Ripple Lab.
We are going to present several key facts about the TRON project below
1. The main coin of the project is Tronix (TRX). However, the platform is going to mint one more coin - Tron Power (TP) – to give its holders a right to vote and some other privileges. TP tokens can’t be sold or used for any deals but they are available for exchanging for TRX. A token protocol TRON 20 will operate inside the system to provide an opportunity for the content owners to start their own ICOs and to mint their own coins attached to TRX.
2. TRON has a good potential for games, mobile applications and online services: their creators are able to publish and to distribute this content on the platform for free. It seems that the aim of the project in terms of gaming is to create its own platform – TRON PlayStation. Maintaining a price lower than $1 is also a part of the strategy that includes tasks like mass coin penetration along with keeping expenses within a game at the micropayments level. It is the ideal option for those who want to play the good games cheaply. By the way, recently, Game.com platform has launched its own analogue of CryptoKitties – Tron Puppies which can be bought by TRON coins. Unlike the CryptoKitties which price reached $20 thousand at their peak of popularity, the price for CryptoPuppies is quite decent.
3. The roadmap of the TRON project has 6 stages with the following names: Exodus, Odyssey, Great Voyage, Apollo, Star Trek and Eternity (these are quite familiar words for gamers and movie-goers). The project development will take 10 years.
The project is at the stage of Exodus now. Its primary task is to realize the possibility of full access to the platform for content creators as well as protection of personal data. At the Odyssey stage, the company will actively engage the content developers on the platform: for example, it will reduce commissions. The goals of the remaining phases will be refined after the implementation of the stages mentioned above.
4. The developers have generated 100 billion of TRX, 65 billion of which released for circulation. The other 35 billion are frozen until the early 2020.
5. Justin Sun, a 26-year old alumnus of the University of Pennsylvania is the head of TRON project. Mass media has already called him “the second Jack Ma”. Forbes Asia magazine included him into TOP-30 most successful businessmen up to 30 year old.
6. During its ICO the project’s team has managed to attract a very impressive amount of fundraising - $70 million. TRON was supported by the authoritative representatives of the Chinese businesses such as Nebulas founder Hitters Xu, the Clash of Kings game founder Tang Binsan, a famous Chinese investor Xue Manzi, the founder of China Equity Group Wang Chaoyong and the CEO of OFO – Dai Wei.
7. Though the first coin placement was in Beijing, Justin Sun has chosen Singapore for the legal entity registration. Obviously, he was guided by the Singapore government loyalty to cryptocurrencies and blockchain industry.
8. TRON lost 30% of its price after a post published on Reddit. According to the author of the post, 5.7 billion of TRX were exchanged for ETH stored in the e-wallet belonging to Justin Sun.
Pic. Dynamics of the TRON value
Source: Coinmarketcap
9. Despite the great support from Chinese investors and businesses, TRON received a lot of critics in the global crypto environment. Particularly, some sceptics consider that the project can’t offer a viable product.
10. Juan Benet, the founder of Protocol Labs, having analyzed an English version of the project’s whitepaper, published in his Twitter some proves that a part of English documentation of TRON was copied from other projects.
11. According to some optimistic forecasts, TRX rate will reach the level at $0,54 by the end of 2018, will rise up to $5.2 by December 2019, and, finally, by the end of 2020 will achieve $47 per a coin.
The gaming industry as well as the video games streaming industry is expecting tokenization of gaming goods and services. It will allow eliminating many problems including the industry financial security. The most exciting horizons have the projects that don’t transfer traditional services into blockchain environment but build their blockchain infrastructures creating the foundation for new products development.
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