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TRON price prediction 2020

By Ashley Norris

Will the high profile blockchain network-coin deliver for investors this year?

It is a hugely ambitious project led by a charismatic, media savvy CEO which has raised a significant cash pile and partnered with one of the world’s leading multinationals. Yet TRON remains an enigma, one of the smaller cryptocurrencies that really ought to be bigger.

Will this change this year? What is the TRON price prediction for 2020? Here we aim to give background on the project and its accompanying coin and answer the key question: "Should I invest in TRON?"

If you follow the crypto world closely, you will probably have strong views on TRON. The company and the cryptocurrency (TRX), which made its debut in 2017, is often either hailed as a stroke of genius that will revolutionise how the internet is run, or the work of charlatans who will struggle ever to make their project succeed.

How you feel about TRON is likely to be coloured partly by your attitude to its CEO and founder, Chinese-born Justin Sun. A polarising figure, unafraid of pulling a cheesy PR stunt, Sun has kept TRON in the limelight in the past few years and has been behind some impressive partnerships and acquisitions. Yet so far it could be argued that TRON’s price history, and indeed TRON’s price prediction, have not matched its billing or its progress.

TRON’s innovations

TRON’s price today is around £0.0110, yet like most cryptocurrencies, it has endured a bumpy ride. The company was established by Sun in 2017 after the TRON Foundation raised $70m (£53.3m, €63m) in a successful Initial Coin Offering (ICO). Investors were attracted to a concept that aimed to build a free, global digital content entertainment (think games and video content) system with distributed storage technology using a decentralised blockchain network.

TRON works in a similar way to Ethereum in that the blockchain network hosts the DApps (digital apps), so creators can choose to avoid working with tech giants such as Amazon and Google. Also like other projects such as Ethereum, which pioneered the use of smart contracts, TRON minted a coin to enable its users to trade and pay hosting fees for their content. The coin has many other uses. TRON’s website suggests that these include paying for goods, purchasing TRON merchandise and even being used in an TRON ATM machine.

The aim of the ICO was to create a company that would deliver a platform for content creators that dispensed with the existing requirement for a conduit or middleman. So, for example, creators would not have to work for larger companies or film makers, needing to secure distribution deals with Amazon or Netflix and surrendering a large percentage of their potential earnings. Instead they could upload work directly to the TRON blockchain and keep any fees they earn.

TRON is often described as being technologically superior to rival platforms. Its blockchain is arguably faster and more scalable than say Ethereum. Long term it hopes its strategy, and its speed and agility, will disrupt the internet and change how content is created and distributed.

Unlike some high profile ICOs, TRON has actually made steady progress towards its goals. It has amassed users, particularly via acquisition of the peer-to-peer sharing organisation BitTorrent.

Crucially in October 2019 it signed a potentially transformative deal with Samsung to integrate TRON’s blockchain with the Samsung Blockchain Keystore.

This has three key benefits. It gives users direct access to the blockchain from their mobiles and enables developers to build applications on top of the TRON network. As the Samsung Blockchain Keystore is also a platform that enables users to manage private information and digital keys, users can seamlessly store TRON coins in the wallet from their device.

TRON price history

All this should have set the price of TRON soaring. Yet a quick look at the charts tells a different story. TRON debuted in late 2017 and made its owners some quick gains. Then early in 2018 it benefited from the boom in cryptocurrency with its price shooting up from £0.0253 at the end of 2017 to a record high of £0.23 a week later. Within a month its price had pretty much collapsed and it has maintained a steady valuation of around £0.02 since. There have been spikes, most notably one in October 2019 when news of the Samsung deal broke. But even that modest gain proved something of a blip and TRON’s price today is £0.0110.

What is TRON’s price forecast for 2020 and beyond, and what factors will determine whether it turns out to be a star crypto performer? The big question is inevitably "How successful will the blockchain network be?"

TRON CEO Justin Sun is understably bullish: “I think in the future, hundreds of millions of people will start to use blockchain,” he told the Australian website Micky. “They actually have a real user case, and the same time, they don’t even need to know about blockchain. But they can get the benefits.”

It will be a long, uphill battle and TRON is squaring up to some powerful rivals in Amazon, Microsoft, Google and Netflix. At present even the most popular DApp on the network, the game WINk, only attracts around 1,000 players per hour. This is minuscule compared with mainstream rivals. TRON is addressing this by offering a $100m gaming fund known as the TRON ARCADE to entice developers to use the platform.

TRON also has something of an image problem. Sun’s media grabbing antics don’t appeal to everyone and some analysts argue that they are an attempt to disguise some weaknesses of the network. TRON has also been accused of plagiarism. Researchers from Digital Asset Research (DAR) claim to have discovered multiple instances of code copied from other projects in the TRON code base.

Is TRON a good investment?

On the positive side, given its origin, TRON is perfectly placed to benefit if China follows through on recent statements and becomes a world leader in blockchain.

Sun has said that TRON will increase its presence in China. “So definitely I think for the future three-five years, China’s gonna have a very bright future on,” he said.

Finally, just as in early 2018, TRON is well placed to benefit from an overall surge in the price of Bitcoin in particular, and cryptocurrency in general.

Overall analysts are cautiously optimistic about the future of TRON. Cointame believes the coin will touch $1 by the end of the year while investingPR thinks it will hit that price but only after take several years. Meanwhile Coinswitch argues that $1 per coin isn’t realistic any time soon, although it will make small gains in 2020 and could reach $0.4.

It is hard then to predict TRON’s future price, but if its blockchain network starts to gain momentum, TRON could have a very interesting future.

FURTHER READING: THE YEAR IN REVIEW: Top traded cryptocurrencies of 2019

FURTHER READING: Opera becomes first high profile browser to enable Bitcoin payment

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