TRON (TRX), the barely four-month-old coin is attracting big attention from established players including ‘NASDAQ listed companies’, according to a Tweet from the coin’s founder. December was a big month for TRX, taking it from $0.002 to $0.032, and the new year seems even more promising, as the coin trades around $0.07 currently.
TRON, which had a troubled ICO, colliding with last September’s China ban, came to the limelight again following a recommendation from John McAfee on Boxing Day last year.
The project’s founder, Justin Sun, advocates a long-term approach, and the platform is designed to allow for direct interaction between creators of digital content and consumers, removing the high costs associated with centralized channels such as Google Play and Apple’s App Store. While some basics are up and running, the entire TRON system is expected to take up to ten years for full implementation, as stated in the white paper. The first of the planned six stages, dubbed the Exodus phase, will allow for a mechanism to upload, store and distribute content based on a peer to peer system, and is expected by December 2018.
Despite the project being in its nascent stages, Justin Sun’s Tweet, signaling possible partnerships with NASDAQ listed companies, took TRX to an all-time high of $0.086, and trade volumes were above a billion dollars for the first time on Tuesday.
Moving forward, Pei Wo APP, a Chinese social app also founded by Justin Sun, with over 10 million registered users, is expected to implement the TRON protocol. Singapore based bike-sharing operator, oBike, will launch its tokens ‘oCoins’ based on the TRON protocol in early 2018 as well.
The names behind TRON definitely inspire confidence, particularly the founder Justin Sun, who was the former Chief Representative in Greater China for Ripple, a protégé of Jack Ma and also named in the 2017 Forbes Asia, 30 under 30.
Despite TRON having had a rough start with its ICO, a capable team, strong marketing and new partnerships have made it one of the coins to look out for in 2018.