TRON (TRX)–TRON’s Main Net launch update, titled Exodus, will mark the start of the cryptocurrency functioning on its exclusive blockchain. As of now, Exodus is targeted to go live on March 31st, and will bring a host of new features and increased utility for the TRX coin.
Unmatched Utility for TRX
TRON founder Justin Sun tweeted the ways in which the Exodus Main Net will make TRON a top contender as one of the most usable currencies on the market place. The features include:
Nonexistent fees. Like Ripple, TRON is planning to create a frictionless experience for consumers of TRX. It starts with lowering transaction fees to the point of being negligible. The TRON team’s update states that TRX-based transactions on Exodus will consume 0.00001 TRX in the process, making TRON the cheapest cryptocurrency to use in terms of fees (essentially free). It would take an impossible price-per-coin of 1000 USD for TRX fees to rise above 0.01 USD. At the current price of TRX, a single penny would net you 20,000 transactions on Exodus. Clearly, Sun and the TRON team have recognized the barrier of high fees negatively impacting cryptocurrency usage. Bitcoin has stalled in Q1 2018 due to crippling fees (hovering around 4-6 USD) creating an insurmountable hurdle for the average user.
Scalability. In an article about Ripple growing through 2018, we made the argument that scalability would replace blockchain as the key word surrounding cryptocurrency this year and beyond. Crypto is at a crossroads: investors are growing impatient for use-cases, and the field as a whole needs to continue expanding and driving innovation in order to avoid a steady decline. Scaling is at the heart of the issue, with many currencies being unable–at least in their current iteration–to handle the crushing load of a true payment platform. Bitcoin processes 7 transactions per second, Ethereum 13 tx/s, and Litecoin 56 tx/s. Compare that with Ripple, which is pushing 1500 tx/s, or Visa, which can handle over 25000 transactions per second. TRON is attempting to compete with the more scalable currencies, posting 1000+ tx/s on the new Exodus network. If TRON continues to grow into the entertainment industry-disrupting technology that Sun has set out to create, that number will likely have to grow to 10000+/sec. But for now, Exodus should have no difficulties handling the network load for TRX, and allow TRON to expand and dominate the gaming industry without facing the hard wall of scalability.
Most of the enthusiasm surrounding cryptocurrency for the past year has been over price speculation and the profits made from 10,000%+ appreciations in value. However, this emphasis on price and profit is going to create a myopic industry that is not healthy in the long run. The claims of Ponzi scheme, Tulip mania, and Internet bubble are not that far off from characterizing the state of cryptocurrency. If the focus does not shift towards utility and implementation as a tool to solve real-world problems, then cryptocurrency will continue to decline into a niche, technological side project. TRON’s Main Net is ensuring that TRX does not fall into a similar trap of stagnation. The emphasis that Justin Sun and his team have placed upon TRX development is one clearly focused towards usability.
Differentiating TRON from the Market
The field of cryptocurrency is littered with transaction-based tokens and ERC-20 derivatives. TRON’s departure from the Ethereum network onto its own platform for Exodus creates a novel space for the currency to exist. Other cryptocurrencies can be built upon the Exodus network, much like how a number of coins use Ethereum as their basis. This increases the ways in which TRON can be developed as a currency, and adds to the growing usability of TRX. However, it also positions TRON as a flagship technology in its own right. Sun has created a strong vision for what TRX is attempting to accomplish: disrupting the entertainment industry and overhauling the way these various platforms conduct business, from gaming to social media.
Big expectations and bold objectives create an equal amount of supporters and detractors. Most of the FUD surrounding TRON is the product of investors burned in the fall from January’s all time high. If you bought into TRX at 0.30 USD and sold for an 80% loss at the current price of 0.05 USD, that’s not TRON’s fault. The whole industry is having to mature past pure price speculation and bad investment practices. With the Exodus launch, TRON is attempting to differentiate itself from the majority of copycat currencies and dying projects bottle-necking the industry. Sun has already laid out how the utility of TRX on Main Net will have the ability to compete as a top five currency moving forward. The next logical step is for TRON to change public perception and investor interest in the currency from strictly being another ERC-20 token to something innovative and in a class of its own.
Building a Platform for Success
The big goals for disruption that TRON has outlined through Exodus are starting to take the mold of similarly titanic, industry-changing companies. For every person who worships at the altar of Elon Musk, there are detractors who say Tesla is bound to fail and that Space-X will never make it to Mars. For all the love Steve Jobs and Apple have received as the industry leader in personal-use phones and computers, there are many more who make it their mission to tear down the iPhone. Big projects breed fierce competition. TRON is going after something so big, it’s hard to fully understand the ramifications of the entertainment industry being disrupted. Part of the confusion surrounding the white paper fiasco is a simple lack of understanding in the vision that Justin Sun has for TRON. But, suffice to say, blockchain and cryptocurrency represent two highly revolutionary technologies that have thus far been underutilized. Consider the big draw for Bitcoin: That you can spend it like money, without having to use government fiat. Great, but how useful is it as a currency? How does it function in the real world? What advantage does a person have using Bitcoin instead of their debit card? These are hard questions for crypto-investors to face and, as of now, have yet to develop solid answers for.
TRON is in a similar position. Outside of TRON Dogs and a growing list of potential partnerships, the implementation for TRX is not setting the industry-standard in the way that Ripple has managed to integrate through the financial industry. That could change with Exodus.
We have already outlined the ways in which TRX will immediately become a top-5 usable currency. The platform for success has been established, it’s now time for TRON to fulfill its potential as a industry-changing currency.