Still Worth Investing in Tron?

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The fact that some of the rewards are given in Tron on Steemit helped me get to know the Tron ecosystem. Although not as popular as Ethereum, Cardano, and Solana, Tron is an important smart contract blockchain. It was first released in 2017, and at that time it made a serious impact in the crypto market. Similar to Steem, Tron works with the Delegated Proof Of Stake consensus algorithm. This makes low-cost transactions possible compared to Bitcoin and Ethereum networks.

Tron is one of the few coins that can keep its place in the top 50 for several years. Again, unlike many of its peers, it has also been able to maintain its value based on Bitcoin. It is possible to examine the situation in the chart below.

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Although it could not maintain its initial momentum, it had a stable performance based on Bitcoin price in the last 2 years. It can even be argued that since the Tron cryptocurrency creates yield, it performed better than Bitcoin. In this context, Justin Sun has shown successful leadership.

The Tron ecosystem has notable applications in each of the popular categories such as DEFI, NFT, Media, and High-Risk.

DEFI

JustSwap is the undisputed flagship of the Tron dapp ecosystem, with over 100,000 monthly users. Tron's Defi concept has similarities with Ethereum and BSC networks. To benefit from Defi applications on the Tron network, a wallet named Tronlink is used instead of Metamask. Uniswap and Pancakeswasp's counterpart on the Tron network is JustSwap. To transact on the Tron network, it is necessary to have TRX. By the way, we can define our Tron accounts, which are combined with our Steem accounts, as the main account in Tronlink. The returns on the liquidity pools on Justswap are quite low. This shows that there is a great interest in pools. I have still invested a small amount in the Ethereum-Tron liquidity pool. I get a 22% annual Tron return on my investment.

In fact, it was because of the https://peanut.nutbox.io/ app that I became so involved with the Tron network. Peanut is a Tron network token, obtained by delegating Steem on the app.

NFTs

According to Dappradar data, 2 of the 3 Collectibles apps with the most users operate on the Tron network. The first is Tpunks, which reminds me of Ethereum's CryptoPunks collection, and the other is Bored Ape Yacht Club Tron.

Just like Ethereum's Punks, Tpunks includes some pretty cute characters. This 10,000-piece collection includes 9 aliens, 24 monkeys, 88 zombies, and 11 Justin Suns.

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Similar to the Ethereum-based Bored Apes Yacht Club, Tron's bored monkeys also have mutated versions.

High Risk

One of the areas where Tron is strongest is the High-Risk category. According to Dappradar data, 4 of the applications that are in the top ten of this category are on the Tron network. (Source: https://dappradar.com/rankings/category/high-risk)

High-risk applications provide users with the crypto of the network they are working on, with the logic of "early comers win". In these applications, we cannot withdraw our principal after depositing once. In return, they promise a daily return of 2%-3%. When the flow of money into the system slows down, the daily rate of return decreases. The difference between these practices from the Ponzi schemes is that they are much more transparent and that those who set up the system are less likely to display arbitrary behavior.

Media

Tron took over Steemit last year, which resulted in some members of the community leaving and establishing the Hive blockchain. Towards the end of 2020, Steem Tron integration was completed and Steem posts started to bring Tron rewards as well as Steem and SBD.

One of the important pillars of Tron's media ecosystem is Bittorent. Bittorent is a peer-to-peer protocol for users to transfer files around the world. With a market capitalization of $2.4 billion, it ranks 61st among all coins.

Conclusion

The Tron ecosystem, which adapts quickly to the trends in the blockchain world, has a presence in the areas such as stable coin and gambling, as well as the above-mentioned areas.

As a result, I do not sell both the Trons I earned from Steemit and the coins I earned through Nutbox, and I invest them on the Justswap application. Such an approach also fits well with my strategy of spreading my crypto investments across various ecosystems, thus being less vulnerable to potential security risks.

Thank you for reading.

Cover Image created by @muratkbesiroglu

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I still believe this Tron ecosystem is still have potential ahead to offer a lot to investors beyond what it is offering now and also to what some think it will.

Hello @muratkbesiroglu
The truth is that the TRX ecosystem is wide, and because of the high scalability it allows you to host many game options.
I would like to invite you to join our discord channel. https://discord.gg/DuqfKRyf

I'm @josevas217, moderator of this community.

Hi @josevas217,
Nice to meet you. I joined the discord channel. Thanks for the invitation.

Good post. I can tell you took the time to do the necessary research to develop it and make sense of your ideas.
By @hojaraskita

 2 years ago 

Dear @muratkbesiroglu

Let me start with saying: thanks for sharing link to this post with me.

I myself have been wondering if investing in TRX is a good option. Especially since it seem to be a "chinese" project. And I'm not sure how affected is TRON because of constant crypto crackdowns, which are happening in China.

The fact that some of the rewards are given in Tron on Steemit helped me get to know the Tron ecosystem.

I will contact you via Discord and hopefully you can help me out and understand TRX ecosystem a bit. I myself am quite clueless when it comes to that area.

Tron's Defi concept has similarities with Ethereum and BSC networks

I remember that lately someone wrote to me, that he tried Tron's DeFi and he found it very complicated (comparing to other solutions available on the market). Would you agree with that statement?

Have a great weekend ahead,
Cheers, Piotr

Hi @crypto.piotr
Tron is similar to BSC and Justswap is similar to Pancakeswap. We use Tronlink instead of Metamask. The same concept. The difference is the operational fee structure. There is bandwith and energy on Tron. We need to have have both enough energy and bandwidth. That is not a big deal though. We should have some Tron on our wallet to make transactions like Binance Smart Chain. 20 Trx needed for a typical Tron transaction. 2-3 times more costly compared to Binance Smart Chain.

Best Regards

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