Is Tron a good investment in 2019?
The answer is ambivalent depending on your needs. So before we jump into why you should or should not invest in Tron, let’s look at Tron itself.
What is Tron?
TRON is a blockchain-based smart contract protocol. It eliminates the middleman by allowing content providers to share data with consumers. For instance, if you wanted to download Instagram on your smartphone, you would need an App Store on your iPhone. The App Store is the middleman here. With TRON, content providers can directly provide data to the user. You can also create content and host it on the platform.
What is Tronix?
Tronix (TRX) is the cryptocurrency used throughout the platform. It has overhauled how content providers view the entertainment industry by providing a far more transparent market.
How does TRON work?
There is a 3 layer architecture involved.
The first layer is known as the application layer. This is a social media platform. To enhance user registration, miners aggregate their processing powers. Duplication of a user is prevented using blockchain technology.
The second layer is the blockchain platform. This consists of a contract layer and a consensus layer. The contract layer pertains to smart contracts and contains testimony from buyers and sellers. All the users in the network can access this layer.
The consensus layer uses PoS (proof of stake) algorithm that cause the problem of distributed consensus.
The last and the third layer is the P2P network that consists of network layer and the storage layer. The network layer is responsible for keeping the information of every user secure.
Why makes TRON so special?
1. Users and content providers have control: Users have control over their data and can choose what to publish and owners are allowed to set their own pricing and decide what data they wish to share.
2. Transparency: Owners and users can interact without a third-party. This mitigates frauds and scams.
3. Extensible: Sidechain allows the technology to be extended for many uses including video and audio files cryptocurrency transactions and smart contracts.
4. Decentralized: A failure in one node will not affect other nodes.
Online gaming and countries with mature economies have welcomed TRON with open arms. TRON’s robust features and growing user base points to the fact that TRON is a worthy investment.
Should you invest in TRON in 2019?
If you’re looking at short term goals, TRON will not make sense. If you have any extra crypto coins, you could always convert them to TRON. You can always buy BTC with TRX if you see TRON failing or use TRON to convert it to other coins, for instance, perform a TRX to BTC exchange. All you should keep in mind is that the transaction fees are not too high and you get the best exchange rate.