Tron Price Prediction :: What's Тext For?

The price of TRX TRON unexpectedly increased at the end of July 2023. Since then, the price has declined, but still remains higher than before the jump.

At the beginning of July 2023, TRON received the 170 million account and the first real asset.

The news came as some relief after allegations of fraud and claims by the SEC that it was a non-registered security.

Tron (TRX) fell after a strange spike at the end of July 2023 but unexpectedly managed to rise from its pre-spike position.

A month later, TRX announced that the TRON blockchain had reached 170 million. This was followed by the announcement that the blockchain would support stUSD, the first real world asset (RWA), fueling interest in the platform even more.

This announcement was made after the coin faced difficulties in June. The news that it would be available on the Ethereum (ETH)** blockchain was dismissed due to a US Securities and Exchange Commission (SEC) lawsuit accusing it of fraud.

A tweet by Tron founder Justin Sun that the platform uses a bridge from the BitTorrent network to access Ethereum functions and decentralized applications (DApps) could also attract new investors. **Tron (Throne).

So what exactly is Tron (TRX)? How TRON Works What will TRON be used for? Let's try to answer these questions and make a TRON price prediction for July 28, 2023.

From the technical description

TRON's user documentation states: "TRON is an open-source, public blockchain platform** supporting smart contracts. tron is compatible with Ethereum, and smart contracts in Ethereum can be ported directly to TRON, or ported from some changes.

TRON relies on a unique consensus mechanism to achieve the high TPS of the TRON network, which greatly outperforms Ethereum, allowing developers to conduct faster transactions."

According to the report, TRON uses a Proof-of-Work consensus mechanism. This means that people need to solve increasingly complex mathematical formulas to validate transactions and add blocks to the blockchain. It also states that people must pay for the energy they consume on the grid.

Advantages and disadvantages of Tron

The analytics firm Messali recently released its quarterly report on Tron, showing growth in active users, transactions, and daily revenue.

Messali also summarized the main advantages and disadvantages of the blockchain created by Justin Sun.

• Average daily active addresses were 2.61 million, down from 2.66 million in the same period last year but up from 2.29 million quarter-on-quarter.
• The average daily number of transactions was just over 9.1 million compared to 4.7 million in the same period last year and 7 million in the previous quarter.
• Average market cap of $6.9 billion, up from $6 billion on an annual and quarterly basis.
• Total revenue was $109.9 million, up from $48.5 million year-on-year and $89.9 million quarterly.

Tron domination

According to Messali's quarterly report, Tron has the following characteristics.

• It contains more stablecoins than any other blockchain except Ethereum (ETH). * Blockchain-based decentralized finance platform (DeFi**) grew during the quarter.
• User access has improved in recent months.

Tron's Shortings

Messali's quarterly report also lists the shortcomings of Tron.

• The actual number of developers is relatively small - only 16 people work full-time on Tron.
• The founder of the company, Justin Sun, is accused of illegal sale of cryptocurrency.
• There is no official roadmap. However, the company regularly makes announcements.

Given that Messari's report is generally positive on Tron, what does this mean for Tron's price outlook? But first, let's talk about what Tron really is.

Description of Tron (TRX)

Tron was founded in 2017 by blockchain expert Sun, who was previously the main spokesperson for the Ripple (XRP) cryptocurrency in Greater China. The idea was to create a platform for creating and sharing entertainment content.

The Tron blockchain that was supposed to make this possible was created in 2018. At the end of the same year, the acquisition of the BitTorrent file-sharing site was announced, which for the first time brought the system to the attention of people not connected with the cryptocurrency world.

The TRON Foundation closed in the summer of 2021. A decentralized autonomous organization (DAO) to manage the system was launched at the end of the same year.

The TRON blockchain works similarly to Ethereum. The blockchain network hosts DApps (digital applications). This allows authors not to cooperate with large companies such as Amazon and Google.

Blockchain networks have three levels: application, storage, and core. The main level contains modules for managing accounts and smart contracts (computer programs that are automatically executed when certain conditions are met).

Tron uses a Proof-of-Stake (PoS) consensus mechanism that allows 27 Super Representatives (SRs) to stake blocks on the blockchain and receive Tron cryptocurrency (TRX) as a reward.

TRX holders can freeze their accounts every six hours and vote for new SRs. Tron adds a block every three seconds, and for each block SR receives 32 TRX. Platform coins are used to cover the cost of hosting the platform.

It can also be bought, sold and traded on exchanges. It is noteworthy that it was first launched as an Ethereum token, and in 2018 it became its own coin.

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