Tron cryptocurrency overview: The Tronix token which was priced at only fractions of cents in November month last year was deemed worthless back then. However, in December its value rose up to 25 cents which gradually decreased to 6- 7cents in mid-January. Tron currently stands out among the 20 digital assets with a market cap of $6billion. The idea of TRON is that it wants to offer an alternative way to share, store and own entertainment content online and cut out the participation of middlemen such as Google, Facebook, apple, and YouTube. It is not yet clear though as to which online storage problem or difficulty TRON is going to resolve.
You cannot mine Tronix tokens and it functions under a proof of stake protocol. The token has a meteoric rise recently but if you carefully look at its whitepaper then you will see that its objectives are that of long term nature. The six uniquely named phases of development extend until 2027.
Tron cryptocurrency present market cap of 6 billion dollars is the reason, investors are hoping about quick recovery by the sun and his staff. The Tron group is growing day by day and Alibaba group is helping by providing recruits to them. Zhao Hong, former chief of Alibaba joined Tron in December while security expert Zhang Anwen joined Tron in January.
The cost spikes that have occurred lately is because of the promotion of significant name partnerships and Tron cryptocurrency has always disclosed information about its latest relationships. There was an arrangement with Baofeng for technology cooperation and Baofeng group is among the top internet firms and very prominent public business in China. The collaboration reflects of baofeng’s clear understandings of the future of the internet and its high popularity of TRON project. Baofeng BFC will be focusing on construction hardware as per the media realize.
The Chief executive officer Tianlong Cui was not ready for the announcement about this arrangement. In a press note, he said “As a large scale P2P network operator we know how hard this network is and how good the technical challenges are. We look forward to the team of TRON to successfully resolve the issues and launching the network. The support of Baofeng devices supporting Tron cryptocurrency nodes could not hurt because the vision of the organization aligns nicely with it. It may also allow integrating more rapidly into the entertainment world. The other partnerships such as Singapore’s cycle sharing company Boike were not easy to comprehend.
The deal is to develop a cryptocurrency which may be also known as oCoins and will be used to cover bike rentals. On the basis of particular standards, oCoins may also be earned by bike members and then can be utilized on Tron cryptocurrency sponsored applications like Piero. The flip side of the coin is that the Tronix holders will be able to buy oBike relevant product and services. There is no problem in sharing a bicycle but one must take a look at the fact that is it relevant to 6 Billion blockchain business.
Recently there were some allegations that important parts of TRON whitepaper had been plagiarized from the IPFS and Filecoin whitepapers and that too without citations or warning. The explanation of this allegation by the sun is that the massacre happened because of volunteers interpreting the English version with insufficient language skills but this explanation was not sufficient enough to convince the critics either. This is because there was a perfect copy of everything as the technical data along with equations didn’t change with speech and they did appear the exact same in both versions.
Regardless of this controversy, it seems that investors remained confident about TRON and the entrepreneurial skills of its creator. How long this controversy will last is the thing to look for!