Too much hype or actually a viable cryptocurrency? We want to know the truth and think you should too. Shitcoin.com investigates.
What is it?
Founded in 2017, Tron is trying to be a free, content entertainment system allowing cost-effective sharing of digital content. With a P2P focus, it aims to make it easier for creators to reach consumers directly.
Their TRX token is currently an ERC20 token, but with the launch of their Mainnet in June they are moving away from the Ethereum network.
Why do many think it’ll work? For one it’s insanely cheap. When the main net launches transactions will cost 0.0001 TRX which is way less than $0.01 USD. In fact, you’d get 20,000 or so transactions for that one cent.
To put it simply it wants to take control away from the likes of Amazon, Netflix and Youtube. If it comes off these companies will all be very unhappy unicorns.
When is all of this being released?
They have a 10 year plan set out. Their first project, Exodus, includes the launch of their main net and is set to be be deployed in June 2018. This is way ahead of the initial December scheduling.
A cryptocurrency ahead of schedule, who knew?
Their next project, Oddysey, expects to provide incentives for content creators. Scheduled for 2019 – 2020.
Who is behind it?
TRON’s CEO is a guy named Justin Sun. His CV is pretty stacked. At only 27 he’s in the ‘Forbes China 30 under 30’ and is supposedly the protege of Jack Ma, the founder of Alibaba.
The rest of the team is your standard cryptocurrency team. ‘Former’ tech big hitters and name-drop central. You know the drill.
What are our Shitcoin concerns?
At Shitcoin.com we always try to keep it factual. We do have concerns about every coin and here are some of ours for Tron.
Marketing before product
They have been so focused on hype and reached an insane market cap already. Is this normal for something that has barely gone through any development?
They seem to be master hype technicians (they make us at Shitcoin.com proud!) and they have pushed many to speculate. We worry that it still is unproven though.
They won’t topple the unicorns who control the space
It’s a big ask to remove the key players in the entertainment space from their throne. Sure Tron has a chance, but the time they may take to have a product ready to go means more time the competition can dominate.
Does this need a coin?
As with any potential Shitcoin it’s important to ask — Does this need to be a coin?
Isn’t forcing everyone to use TRX a way of creating their own monopoly when in fact they preach decentralization? Maybe this is us being naive but we’re unsure exactly which problems this solves.
Where can I buy/sell/long/short it?
Is Tron a shitcoin? Or do you think the project has legs? Please leave your comments below and if we get enough interest, a more in-depth Shitcoin review may be in the pipeline.