Tron awakens memories of the former Bitcoin bubble

Memories from the crypto markets die hard, and a digital token has doubled its value over the past month. Tron turns into the next "hot" crypto-wave.

Like all the other starters who enjoyed impressive ramps just to be crushed in the next crypto bubble, Tron raises questions about its application and creates a lot of noise. Tronix or TRX is a token that runs in 2017 and has a market value of $ 1.6 billion, making it the ninth largest digital asset.

At the heart of the excitement is Justin Sun, a 28-year-old entrepreneur who creates Peiwo, a similar Snapchat-like applique in China with millions of consumers. Then he started the Tron project using a lot of Ethereum's code and taking other ideas for his White paper. Coin search accelerated after the company announced it had plans to create a new BTT token that is supported by the Tron and BitTorrent network. BitTorrent was absorbed by Sun for $ 120 million last year.

The goal is to turn BitTorrent's 100 million monthly BitTorrent user into digital asset users. First, the BTT will be used to speed up the download speed of movies through the torrent program, and to give "tips" to performers. In time, BTT will also be used to purchase storage space. BitTorrent is a winning platform and generates an average of about $ 25 million in revenue per year.

The company focuses on increasing the number of so- distributed apps or DAPPS as games running on the network. Currently, the company has only 107 Dapps compared to 1347 Dapps on the Ethereum network. Sun has recently announced that it will fund up to $ 100 million to develop Tron based applications and games.

Tron also extends to delivering corporate services and has service agreements with companies such as Oracle Corp. and Swisscom to enable their customers to use Sun's network.

Tron also claims he processes transactions much faster than Ethereum because he uses a different mechanism to verify transactions.

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.

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