What Is Tron?
Tron is another blockchain and decentralized digital platform. It is growing rapidly (as majority of the crypto market actually) so in this article we are going to take a closer look at Tron.
Tron also has its own cryptocurrency simply called Tronix or TRX, currently ranked #27 in the world as per Coinmarketcap. It was established by its founder Justin Sun back in 2014 and originally it operated on Ethereum blockchain until 2018, when it switched to its own blockchain protocol.
Initially, the plan for Sun and his team was for Tron to be operating only in Asia, but it is now clear that Tron is a global blockchain platform. At the time of writing (September, 2021), Tron has more than 50 million accounts. The main goal that Tron aims to achieve is to be a global entertainment system for the cost-effective sharing of digital content.
The main feature that Tron users have on the blockchain network is peer-to-peer (P2P) network system so that the middleman is eliminated which allows content creators to sell their work directly to buyers. Its slogan is “Decentralize the Web” which speaks for itself when we talk about their main focus and goals.
Tron vs Ethereum
The Tron network structure is very similar to the one on the Ethereum network. In fact, Tron has been criticized for probably copying too much of the ETH network system rather than creating the unique basics of its platform.
However, there are signs that crypto traders are turning to Tron due to lower transaction fees with faster speed than on Ethereum. One of those signs can be for example that the supply of USD Coin, a cryptocurrency tied to the U.S. Dollar, circulating on the Tron blockchain surpassed $108 million less than 30 days after the Tron team announced that support for it was launched.
Tron has 6 different milestones that should be completed in 6 different phases: Exodus, Odyssey, Great Voyage, Apollo, Star Trek and Eternity. After each phase, Tron is to become more and more important in the Blockchain world.
Top projects on Tron blockchain
Since the Tron blockchain network is growing and becoming a global crypto thing, there are quite a few interesting projects operating there. Let us take a closer look at some of the top projects.
JustSwap is a decentralized exchange (DEX) that operates exclusively on the Tron blockchain. It is widely considered as one of the biggest platforms on the Tron network. It was launched back in 2020, a golden year for DeFi projects. JustSwap has over 15k members on its Telegram group and over 50k followers on Twitter, which make them a pretty big social network platform.
On JustSwap you can swap different kinds of tokens such as TRX (set a default one when you open the platform), BTC, ETH, USDC, SUN, NFT, WBTT, WTRX, USDT and many more. It is worth noting that in order to use JustSwap you need to have a TronLink Wallet, in other words the platform is only possible to use if you connect a TronLink Wallet.
You are always directly in control of your coins and you transact directly with whoever wants to buy or sell your coins, so they do not require a third party to store your funds.
Wink is a casino-based blockchain platform that operates on the Tron network. It is widely considered as one of the most well-supported casino-based blockchain platforms in the world. Wink.org was relaunched back in 2019, after one of the effective updates on the Tron blockchain.
I found this platform very interesting! Extremely user-friendly layout that will engage you immediately. You will definitely enjoy Wink if you like different kinds of casino games. These games include ‘E-gaming’ classics, a quality poker offering, “rolling the dice” games, live casino room and recently launched sports betting product. It is safe to say that in terms of content, WINk.org is not lacking.
There are currently two languages that the platform supports – English and Arabic. I found it very easy to use which is probably its main advantage. You don’t have to be a Blockchain expert by any means to use Wink. By playing different kinds of games you can win various cryptocurrencies such as Tron (TRX) and BitTorrent (BTT), as well as other game specific and mining tokens.
Wink has definitely cemented itself as one of the best casino-based blockchain platforms. Basically, whatever you like to gamble on, WINk is going to offer it in a simple, and rewarding manner.
Kraftly is a decentralized NFT marketplace that currently operates on the BSC and Tron network blockchains. As many other NFT marketplaces, Kraftly offers its users to create, buy as well as sell NFTs, rare digital items and collectibles on a single platform. NFT creators and buyers can directly trade with each other.
When you open Krafly.io, click on the button “explore” and you will then be in their browse section. You can filter through different kinds of categories such as photography, games, music domains, memes etc.
Tron (TRX) is the cryptocurrency used on Kraftly. The price of NFTs can either be fixed in TRX or there are bids. If the latter is the case, the latest bid and when does the auction ends information is visible below the item.
Same as on JaraSwap, you need to have a Tronlink wallet in order to use Kraftly which is probably one downside to it since popular digital cryptocurrency wallets like Metamask or Trust are useless here.
Luminous is another transparent crypto gaming ecosystem that operates on the Tron blockchain network. It is an online game service that enables you to play games with cryptocurrency and of course earn some. Games that can be currently played on Luminous are called Megabit and Lucky Dice. It says on the website though that new games are coming soon.
Megabit is a game where you can predict the price of Bitcoin and if you are close, you will be able to earn “hundreds of USD each day” as per the Luminous website. On the other hand, Lucky Dice offers you to roll the dice and win some bonuses in crypto. Essentially, Luminous is also a gamble platform, same as Wink.
Luminous offers a well-known marketing strategy where you can earn up to 3.6% profit for successful referrals by sharing your unique referral code. Code is easily shareable via Twitter, Facebook and Telegram.
A digital platform based on smart-contract with building blocks that create and connect different DeFi marketplaces is called Unifi Protocol. Its main focus is to enable simple and very low-cost cross-chain trading.
Unifi adds more value to each blockchain by providing smart contracts which actually allows service providers to use Unifi Protocol to create unique products and services, DeFi based.
Another goal of Unifi is to connect the powerful digital economy of Ethereum-based products with growing marketplaces on other blockchains, such as Tron. Unifi is constantly expanding to more blockchain which increases the variety of products and services that can be built on the Protocol.
You will also be rewarded if you stake the Unifi token since by staking it you are providing liquidity and contributing to the growth of the Protocol and UNFI.
The Potential of Tron
As mentioned in the beginning of the article, the initial goal for the team that established Tron was for this blockchain network to be operating only in Asia. However, it appears that Tron exceeded its own team expectations. Why? Well, at this point we are all aware that Tron blockchain is a global and very powerful digital network.
There are literally no indications whatsoever that Tron is not going to continue its rapid growth. By using a very simple but useful system that offers cost-effective sharing of digital content. In conclusion, Tron is an ambitious project that should be a big part of decentralized internet.
As far as Tron token TRX goes, the price movement has been very volatile which makes it a very risky investment.
It’s good to note, at this point, that the views expressed in this article are NOT to be considered as FINANCIAL ADVICE.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com