Can TRON (TRX) Reach $1?

TRON is a blockchain-based decentralized digital platform that seeks to revolutionize entertainment as well as digital content sharing.
TRON’s aim is to create a free and global digital content entertainment platform that offers the benefits of distributed storage technology while providing its users with easy and cost-effective sharing of digital content.
TRON eliminates the middleman and allows content creators to sell their work directly to consumers via peer-to-peer (P2P) network technology.
TRON was founded in September 2017 by a Singapore-based non-profit organization called the Tron Foundation.
TRON is headed by CEO Justin Sun, a two-time recipient of Forbes’ “30-Under-30” award in Asia.
Launched on June 25, 2018, TRON public chain, a decentralized blockchain network based on the TRON protocol, serves as the core of the TRON ecosystem.
Since its launch, TRON has taken pride in over 98 million accounts and 3.3 billion transactions, which turns it into the world’s fastest-growing public chain.
In 2021, Justin Sun stepped down from his role as CEO of the Tron Foundation.
In December 2021, the TRON network became fully decentralized.
On May 5, 2022, Justin Sun announced the launch of the algorithmic stablecoin USDD through the TRON DAO Reserve.
On June 13, 2022, USDD depegged, resulting in an 18% drop in TRX price.
TRON (Symbol: TRX) is the primary token used in TRON, serving as fuel programs for the TRON network.
Being a basic unit of accounts on the TRON blockchain, TRX can connect the entire TRON ecosystem, with abundant application scenarios powering transactions and applications on the chain.
TRX token can be functioned for:
The TRON blockchain routes information through three main layers:
Instead of using the traditional proof-of-work or proof-of-stake methods, TRON uses Delegated Proof-of-Stake (DPoS) to reach a consensus on its ledger.
Users can also operate these three types of nodes on the TRON blockchain:
To vote on super representatives, Tron users need a network resource called “Tron Power” which they can gain through staking TRX token. Tron Power cannot be traded like TRX or other tokens issued on top of the Tron blockchain.
TRON offers a unique perspective and set of goals to the market.
With the support of TRON, developers are allowed to build applications that can support up to tens of thousands of users simultaneously.
At present, TRON can handle up to 2,000 transactions per second with a transaction finality of under three seconds, setting it apart from blockchains like Ethereum or Bitcoin.
Aiming to help developers power a wider range of use cases, TRON support numerous token standards, including TRC-20, TRC-10 and TRC-721 (non-fungible) token standards.
TRON is a blockchain that may be used in a variety of ways, namely sending cryptocurrency, DeFi functionality, and token swap. However, TRON's major use case is the decentralized distribution of content and entertainment, making it a serious contender over other blockchains in the multi-chain world.
In contrast to numerous other blockchain projects, Tron is providing a detailed plan for long-term projects. The development of the TRON platform is divided into six phases from 2017 to 2027.
Since its inception, TRON has become a direct challenge to the media industry, including the web-based giants like Amazon and Netflix, with the vision of ejecting the corporate middleman from the process of consuming media.
However, as a blockchain platform, the components of TRON's ecosystem are not so prominent. Comparing it with recent new ecosystems like Solana or Avalanche, investors can see that the development of Tron is still very modest.
Additionally, on June 13, the depeg of TRON’s stablecoin, USDD, led to the decline of TRX price; however, at the time of writing, TRX is showing signs of recovery, gaining 23% in the last 24 hours.
In the long term, experts hold an optimistic perspective about TRX's performance, but it will take the coin two to five years to touch the $1 price.
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