In almost a month, Tron [TRX] it has managed to grow more, doubling its value and becoming the ninth largest coin on CoinMarketCap. At the time of printing, the currency was valued at $ 0.0250 with a market capitalization of $ 1.6 billion. The currency has a 24-hour trading volume of $ 175 million with a growth of over 2% in the last 24 hours. However, the currency slipped 0.10% in the last hour.
The CEO [CEO] by Tron, Justin Sun is at the center of everything the company has to offer, especially the long-awaited niTRON summit, a conference sponsored by Tron in San Francisco. The conference begins today and sees protagonists as the former NBA star Kobe Bryant as a keynote speaker, along with Sun and a director of Swisscom AG, a $ 25 billion telecommunications company, Bloomberg said.
Sun recently purchased the BitTorrent file sharing application for $ 120 million in 2019. The announcement of BTT tokens that work on the Tron and BitTorrent networks has proven beneficial to the company since the demand it has increased for the currency. The CEO [CEO] the researcher Messari Inc. told Bloomberg in an e-mail:
"A lot of people have deleted Tron as a hype / marketing and no substance, but they made a lot of noise with the acquisition of BitTorrent, and now I think it's an open question if they will be one of the fakes" of the highest profile "crypto until you do" success stories "
The CEO also added:
"It was wild to watch."
Together with the company, Justin Sun is becoming popular as the face of the company and is growing following the social media site, Twitter. Sun told the publication in an interview:
"We want to become the most famous brand in the world".
Sun said that when someone thinks about cryptocurrency, Tron will be the first to draw parallels with Bitcoin's popularity [BTC]. While the smallest Bitcoin unit is called Satoshi, after its creator, the smallest unit of Tron is called Sun after Justin Sun. As per Sun, Tron had raised $ 70 million in Initial Coin Offering [ICO] which is largely untouched.
Sun shared a similar vision for BitTorrent and so many others. Justin Knoll, head of the BitTorrent project, told the publication that their goal is to convert all users of 100 million BitTorrent users to cryptocurrency. The BTT could be used to increase the speed of movie downloads and to tip the interpreters, but in the end it will be used for the payment of the memorization of the site, informing the head of the project. Sun has informed that BitTorrent is profitable and generates about $ 25 million in revenue annually.
The goal of the company is to increase the number of distributed apps, such as games running on their network. Currently Tron has 107 Dapps compared to 1,374 of Ethereum as DappRadar. However, this number will increase as Sun has recently announced up to $ 100 million of funds for developers who are creating Tron game applications.
Tron also claims to have much faster transaction times than Ethereum because it uses a different mechanism for transaction verification. The 27 super representatives of Tron produce the blocks that are then voted by the holder of the cryptocurrency account. Ethereum, on the other hand, uses miners to verify transactions, which are now also moving to the stake test system. Sun said:
"Converting to PoS is a huge effort – it's like moving a building a block away – it could be easier to break down the building and rebuild it – it does not work that way – for Ethereum, it could cost them a year or two to migrate, and this seems optimistic. "
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