TRON Overtakes Litecoin, Bitcoin: The New Cryptocurrency Is Up 12,755% In Just 1 Month
Even as several countries have either banned trading in cryptocurrencies or are planning to regulate them, the valuation of crypto coins or altcoins like Ripple, NEM, Dash, Litecoin and Ethereum are increasingly rising and creating a buzz.
Now meet TRON (TRX), which has made its way into the top 10 cryptocurrencies with a whopping 12,755% jump in the last one month. On December 5, the share price of TRX was $0.00215. As of this morning, it is trading at $0.276378. It is a growth that eclipses surges posted by the far-better-known Litecoin and Ripple in the same period.
The barely four months old altcoin is now the sixth most valuable cryptocurrency, but one of only three starting out in green this morning along with Bitcoin and Ethereum. Ironically, TRON’s Initial Coin Offering (ICO) actually had a rough start since it coincided with China’s crackdown on cryptocurrencies in September 2017.
So what is TRON? It is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents.
It also enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem. Content providers will, therefore, no longer need to pay high channel fees to centralized platforms like Google Play and Apple’s AppA Store. And its official currency is TRONIX (TRX).