Since its rocket-like launch at the beginning of the year, TRON has been seen as a promising cryptocurrency that could deliver large gains from a relatively small investment. However, following the crash in January, the price of the TRX token has barely moved.
The price of TRON is, at the time of writing (10:00), roughly at the same level as before the rapid surge earlier this year, trading at €0.0363 per token. Market capitalization stands at just under €2.4 billion, placing TRON 16th among all cryptocurrencies by market cap.
Many investors who bought in at nearly €0.10 in mid-January are likely disappointed with the rally’s outcome. One continuing burden is the allegation — and apparent evidence — that parts of TRON’s whitepaper in various language versions were plagiarized. Justin Sun addressed the issue on Twitter in January, but the controversy still leaves a sour impression.
We do apology for the quality of different versions of the whitepapers. Also, our current code development is not as same as we planned in the whitepaper so please check our @github and feedback is welcome!
— Justin Sun (@justinsuntron) January 8, 2018
The explanation given — that volunteers who translated the Chinese whitepaper into other languages performed poorly, causing strong similarities — is viewed by many observers, including ourselves, as an insufficient justification.
The originally scheduled release date for the game CryptoDogs on January 22, 2018 was missed due to a lack of developer resources. This delay is attributed to game.com rather than the TRON development team.
TRON’s developers are currently focused on launching the mainnet rather than on CryptoDogs. The team appears to be expanding: a new developer joined TRON just days ago.
Former senior software engineer of #meituandianping and #LeEco, Matt Yue joined #TRON technical team. He has rich experience in data, storage, processing, mining, application, research, and development. #TRX https://t.co/ATRrqwf5m4
— Justin Sun (@justinsuntron) February 21, 2018
Within the game, TRX is the only accepted currency to purchase dogs and other items. After an initial release in Chinese, English and Korean versions were published.
Comparing CryptoDogs to the popular CryptoKitties on the Ethereum blockchain shows little difference in concept: instead of cats, players buy dogs. Prices are still relatively low, currently ranging from 200 to 400 TRX, which equates to roughly €8.
TRON has followed a marketing-first strategy that generated significant attention and has helped maintain the hype to date. Recently, several capable and experienced developers have joined the team, enabling the project to pursue its ambitious objectives more seriously.
From our perspective, the launch of the TRON mainnet—scheduled for the end of March—remains especially important.
TRON’s First Beta Version?—?Exodus Will Be Launched on March 31 2018. Core function: 1. UTXO-based trading models 2. 1000+TPS with PoS-based TBFT consensus mechanism 3. 10e-6 TRX/TX 4. #TRON virtual machine (TVM) 5. Java 6. Provide common ABCI https://t.co/bmxlLD4tje
— Justin Sun (@justinsuntron) January 23, 2018
The mainnet is expected to bring several features that could positively influence TRX’s price:
- Very low transaction fees: Fees are intended to be in the millionths of a TRX token, meaning they would cost only fractions of a cent.
- High scalability: The network aims to handle up to 1,000 transactions per second.
- Smart contract support: The network will support smart contracts, including those written in Java, allowing developers to host and test applications. TRON already lists a number of decentralized applications (DApps), and this number could grow if the platform proves useful and stable.
- Easier integration for partners: The platform aims to simplify on-boarding of partners such as oBike by issuing network-specific tokens (oCoins) for partner use.
Meeting the announced launch date is crucial in our view, since the project has experienced delays in the past. More importantly, long-term success depends on whether TRON can achieve its ambitious long-range goals.
Justin Sun has attracted international attention. However, if grand announcements of numerous partnerships do not result in demonstrable outcomes, the hype can quickly fade and TRON risk losing relevance.
Current rumors circulating in the YouTuber community that TRON will be listed on Coinbase are unfounded. There is no public statement supporting such a listing.
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