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Tron a good buy? 5 things to consider



 Tron price has steadily recovered after falling to a yearly low of $0.05 in February. At the time of writing, the TRX token was trading at $0.075, bringing its total market cap to over $7.3 billion. This makes Tron the 24th largest cryptocurrency in the world. Here are five things to consider when buying Tron.


Blockchain projects are created using a range of technologies. Bitcoin, the world's first cryptocurrency, introduced a concept known as proof-of-work. PoW is a secure technology that allows new coins to be generated using computer algorithms. Although the process is safe, it requires significantly expensive computers and the process is usually expensive.


Tron does not use the proof-of-work approach. Instead, Proof-of-Stake is used, a process that uses validators to generate new coins. PoS is typically greener and notoriously faster than proof-of-work.


In fact, some of the most prominent blockchain projects have now embraced PoS technology. Ethereum is moving from PoW to PoS during its Ethereum 2.0 upgrade. Other popular platforms using PoS are Polkadot, Avalanche, and Terra.


There are several benefits that come from the fact that Tron is a PoS coin. Firstly, this means that staking rewards can easily be earned. Staking is a process where you simply deposit your funds with an exchange like Coinbase and Binance . After that, you will receive a certain amount of interest every month. Staking is not possible on PoW networks like Bitcoin and Kadena.


Second, as a proof-of-stake, Tron is a significantly faster blockchain project than other networks. According to its website, it can process over 2,000 transactions per second. Bitcoin can only handle less than 10 TPS while Ethereum handles less than 20 TPS. Third, Tron easily integrates with other blockchains like Avalanche and Solana.


The Tron ecosystem is growing

The second thing you need to know is that the Tron ecosystem is seeing strong growth. In recent months, the number of developers building with Tron has been growing. Most of these developers are in the decentralized finance (DeFi) industry, while others are in the metaverse and non-fungible token (NFT) industries.


According to DeFi Llama, there are now 9 applications built on Tron's platform. Some of these apps include JustLend, JustStables, SunSwap, and SocialSwap, among others. These apps have a total locked value (TVL) of over $4.4 billion. JustLend has a TVL of over $1 billion and is showing strong growth. With the current TVL, Tron is the seventh largest app in its ecosystem.


One of the largest parts of the Tron ecosystem is the BitTorrent chain. It was the first scalable, heterogeneous, cross-chain interoperability protocol. Apps built into BTTC are compatible with other chains like Ethereum, Solana, and Fantom.


The relationship between Tron and BitTorrent started in 2018 when Justin Sun acquired it. After years of development, BTTC was launched, whose native token is known as BTT and has a total market cap of over $1.8 billion.


Tron faces stiff competition

Another thing you need to know if you want to buy Tron is that the competition is increasing significantly. When Tron came out a few years ago, there were quite a few competitors. At the time, Ethereum was one of the few platforms with smart contract capabilities. Today the industry has become so competitive with applications using different strategies.


Some of Tron's biggest competitors are Terra, BNB Chain, Avalanche, Solana, and Fantom. All of these are significantly larger than Tron. Other smaller ones that are becoming a major threat to Tron are Polygon, Cronos, Arbitrum, Waves, and Near.


All of these platforms are transforming their industries with different features. For example, Near Protocol and Ethereum have adopted sharding technology to increase throughput. On the other hand, Polygon is a Layer 2 network that aims to improve Ethereum applications. Therefore, Tron price growth will depend on the number of developers who will embrace the network.


Tron has a stablecoin

Stablecoins are becoming players in the blockchain industry. Unlike regular cryptocurrencies, which are highly volatile, these coins are backed by fiat currencies like USD and Euro. Some of the largest stablecoins are Tether, USD Coin, Terra USD, and Binance USD. In total, stablecoins hold over $200 billion worth of assets.


In April 2022, Tron's Justin Sun announced that the Tron Foundation would launch a new stablecoin called USDD, or decentralized USD. After launch, it will be the first stablecoin in the Tron ecosystem.


Unlike other stablecoins, Tron's stablecoin will be fully decentralized, meaning it will not rely on centralized organizations to store the reserves. Instead, these reserves are provided by Tron DAO.


USDD will also differ from other stablecoins as it is not backed by a fiat currency. Instead, it will be paired to TRX. When the USDD price falls below $1, users can send 1 USDD to the system and receive $1 worth of TRX. It's the same concept as Terra USD.


Tron has liquidity

After all, Tron is one of the most popular cryptocurrencies in the world. Hence, it is offered by most exchanges like Coinbase, FTX and OKX. It is also one of the most widely used cryptocurrencies. According to its website, it has over 88 million accounts. Therefore, it is one of the most liquid cryptocurrencies that you can buy or trade .

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