3 Milestones for TRON (TRX) Adoption in 2018
Smooth Launch for TRON Main Net
The key here is getting Main Net launched and working in the first half of 2018. Many of the detractors of TRX believe that Justin Sun and the TRON team are creating a pump scheme through their currency with no actual substance to the technology. Main Net is the backbone TRON needs to prove to the world it’s a legitimate player in cryptocurrency. It also serves to differentiate TRX from the multitude of copycat coins on the market. Main Net will allow TRX to operate separate from the Ethereum network on which it is currently running. The benefits of this transition are substantial:
- Transaction costs become negligible. The proposed Main Net upgrade will make transactions consume 0.00001 TRX, which, at current pricing, costs .0000005 USD (Ripple has a comparable TX fee of 0.00001 XRP, while Bitcoin averages 5 USD and Ethereum 1 USD). With nonexistent transaction fees, the utility of TRX as an in-operation currency goes way up. There is essentially no barrier to spending or exchanging TRX once Main Net launches.
- Top market scaling. With Main Net implementation, TRON’s network is capable of handling over 1000 transactions per second. Compare that to Ripple’s network load of 1500 tx/second (designed for banks) and Bitcoin’s average of 7 tx/s. TRON will have the industry’s lowest transaction fees coupled with a network capable of solving the scalability issue plaguing crypto.
The sooner Main Net is operational and working properly, the faster TRON will be able to fulfill its potential as a development platform for entertainment industry products.
Leverage Game.com Partnership with TRX
Gaming is the foot-in-the-door to adoption that TRX desperately needs in 2018. The TRON Project has established a lofty goal for its currency: to disrupt and reinvent the way the entertainment industry functions with a platform that offers simple user-interfacing with cryptocurrency. TRX is not solely aimed at gaming, but it provides the most obvious pathway to establish a presence in entertainment and real-world (or digital-world) implementation. Going after gaming–via leveraging the already established partnership with Game.com and CEO Xu Le–accomplishes three things for TRON:
- Gain exposure to a price-independent customer base. Cryptocurrency has a severe problem with expectations for currencies being tied solely to price appreciation. This is going to have to change in 2018 and beyond or the industry is in danger of becoming a hollow entity of speculation, without any legitimate use. By leveraging gaming, TRON can build a following and customer base that uses TRX for the sole purpose of entertainment, thereby freely trading the currency without obsessing over price changes.
- Increased liquidity. For the reasons above, more people using TRX on any platform = increase liquidity of coins in the market. There are multiple 1 billion+ TRX wallets that represent individuals holding a disproportionate amount of the currency. These whales can greatly influence the market unless sources of liquidity are established, i.e. through a gaming marketplace, that is distinct from speculative exchanges (Binance, Kucoin, etc.).
- Give people a reason to own TRON. It’s happening across all cryptocurrency: investors, particularly those new to the field over the last six months, are coming the realization that they have little use for the coins outside of chips on a trading exchange. People need a legitimate reason to own TRX, if for nothing else than it can be used for currency in gaming. TRON Dogs isn’t going to take the price of TRX exponential (unless it somehow becomes the next Candy Crush), but the next game might, or the next collection of games if they manage to capture large audiences.
The easiest way to fight claims of vaporware and the growing frustration with cryptocurrency is to give people reasons to buy and spend the currency. Gaming makes up only one pillar of the industry that TRON is attempting to disrupt, but it also presents a clear pathway for adoption and an immediate use for the currency TRX, two factors that gain even more value after the launch of Main Net.
Rebuild Investor Interest/Trust
We have to be careful in the cryptosphere to not become too insulated by various sources of news, discussion, etc. Relative to other financials sectors, cryptocurrency is a small fish in a massive ocean of the internet. While you may read negative, FUD-spreading posts on Medium, Reddit and Twitter, it’s important to remind yourself that the majority of TRON investors, potential TRON investors, and the general public has no idea that there has been a smear campaign waged against TRX for the last two months. Google Trends reports search results for TRON and TRX at their lowest point since the currency was first launched in September 2017. Low search volume is not a reassuring sign for investors looking to a bullish price change in the near-term, but it also means that most people are not reading or taking interest in the negative news affecting TRON.
With that said, the TRON team could do more to inspire investor confidence in their currency and help push back against the accusations of vaporware. It starts with Justin Sun. He’s helming the project. He draws most of the TRX-related attention through his relationship with Jack Ma, his partnership with other CEOs like Game.com’s Xu Le, and his frequent and and engaging Twitter posts. The clearest path forward for TRON is to make a currency people want to use. However, like most projects in the industry, TRX is a work in progress. Main Net promises to do big things, but the value of TRON implementation is still at least a year away from where it needs to be. It’s not the TRX development team at fault. TRON launch six months ago. Bitcoin, Litecoin and Ripple have all had five or more years to develop in the industry. TRX is not going to have the same luxury–as cryptocurrency continues to grow exponentially the demand and expectation for fast results will grow as well. From the investor side, patience could lead to massive dividends in the form of price appreciation. For the general public or those keeping tabs on cryptocurrency, TRON is worth the interest simply because of the scale of the problem it is solving. Some currencies are content with being the next Bitcoin, or a form of digital tender. TRON is going after disruption. Since inception, TRX is a currency designed, marketed and implemented as the next great technology for the entertainment industry, a field worth trillions of dollars. This method–going after large-scale industries that are ripe for a shakeup–has paid dividends for similar cryptocurrencies like Ripple, which seeks to disrupt the financial industry. The pursuit of great accomplishment comes with the drawback severe obstacles to overcome. If TRON continues to stagnates, it’s not necessarily a sign of a defeat but one of building potential. Investors can either continue to fund derivative, copycat projects, or they can speculate on a coin that has the potential–or at least the goal–of changing the world.