Altcoins

Will TRON Hit The $1 Mark? A Post MainNet Rally is Expected

TRX is working on hitting the $1 mark. It will have to edge out eight other coins and tokens to get to the number 2 spot.

Additionally, a corresponding increment of the total crypto-market capitalization back to the January levels of $720 billion will also give Tron a chance of hitting the $65.748 billion market cap that matches to a $1 TRX value. Even though it is concisely challenging to say what happens to a crypto in the future, Tron is optimistic about its own.

Tron’s MainNet launch provides a new, public blockchain for the currency to expand upon. According to its founder, Justin Sun, they have outlined the future of Tron as a platform for digital entertainment, summarizing everything from content production to social media. Sun has also established a $2 billion fund for promoting development and rewarding creators on Tron’s platform.

However, it saddens not to see much in the way of price movement as TRX has fallen almost 20% since the launch of MainNet. Even though, it successfully established Tron as a modest technology in the growing cryptocurrency movement.

Tron (TRX) MainNet is currently live and undergoing rigorous testing for vulnerabilities to make sure it is a secure and stable platform before the genesis block is launched on 25th June.

With this developments, Tron will have established the bar for measure, by launching a network protocol capable of handling over 2,000 transactions per second. It also imposes a transaction fee of 0.00001 TRX, which means an entire lifetime of transactions can be paid for with the purchase of a single TRX token.

With innovations as far reaching as micro-payments and a potential revolution in the way of online content, TRX is a step closer to achieving the $1 mark.

Consequently, the current MainNet setup, enables users to initiate up to 25 free transactions per day. A coin-burn of 0.1 TRX will be required for the creation of each account on a DApp on the platform and each transfer will cost 0.001 TRX.

Therefore, to burn 1 TRX, one will need either ten new accounts on a DApp or 1,000 transfers. With over 100 Million users on the current TRON Platform and more with time, the coin-burn will be able to reduce the amount of TRX in circulation with time. Gradually increasing the TRX value due to its ‘gradual scarcity.’

Possibilities of TRX rising in the next 6 or 7 months with respect to its market performance will be due to the performance of the MainNet. With Tron’s MainNet, TRON finally has the semblance of a working network.

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Collins Valentin

Collins is a blockchain enthusiast, who spends his time between documenting the blockchain revolution in Africa, and writing the latest on the cryptocurrency space. Collins contributes guests posts to BlockPublisher. Email: editor.news@blockpublisher.com

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