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Is It Safe To Invest In TRON (TRX)?

TRON is one of the high-performers in the crypto industry today. It has also been viewed by some authors as a typical case of the complex and disordered nature of cryptos.

TRON is currently ranked 26th among thousands of other crypto assets by CoinMarketCap. It has a market cap of $6 billion USD with a circulating supply of 101, 802, 589, 586 TRX coins.

Many investors have made TRON a choice to consider in their investment. Like many cryptos, enthusiasts would ask, it is safe to invest in this token?

In this post, we’ll learn more about TRON and its investment opportunities.

What is TRON (TRX)?

TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use.

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It is best described as a decentralized platform focused on content sharing and entertainment. It is famously known for its file sharing service called ‘BitTorrent’.

TRON was founded by Justin Sun in 2017. The cryptocurrency native to TRON is known as Tronix (TRX). The network is one of the most popular blockchains for building DApps.

The project goal is divided into phases. They are- i. Delivering simple distributed file sharing ii. Driving content creation through financial rewards iii. Allowing content creators to launch their own personal tokens iv. Decentralizing the gaming industry.

TRON
TRON

What Makes TRON Different From Other Crypto Assets?

TRON claims that its network has capacity for 2,000 transaction per second. This is more than that of BTC which handles up to 6 transaction per seconds and ETH at 25 per seconds.

TRON’s decentralized platform is majored on content sharing and entertainment. It could have a head-start in applying blockchain technology to the entertainment industry as it is increasingly becoming digitized.

Where some other blockchain projects aren’t clear about their plans for development, TRON make clear its intentions for the coming years.

Why Isn’t Safe To Invest In TRON?

Cryptocurrency generally is the most risky form of investment one can invest in. This is because of its volatility in price and less acceptance by nations of the world.

TRON particularly has got questions being asked as its white paper was accused of plagiarism. This and few other accusations were however denied by the TRON foundation.

HackerOne, a cyber-security testing service has also revealed that just one computer could halt TRON’s entire blockchain. It was revealed that a barrage of requests sent by a single PC could be used to squeeze the power of the blockchain’s CPU. It can also overload the memory and perform a distributed denial-of-service.

Also Read- Top 7 Things To Know About Polygon (MATIC)

In Conclusion

Investing in crypto asset is most risky form of investments. It is necessary to know about the asset you’re dealing with and the trading platform you are using before putting your money into it.

Prestmit is one of the top digital platforms for crypto trading both in Nigeria and Ghana. Bitcoin (BTC), Tether (USDT), Dogecoin (DOGE), and Litecoin (LTC), available at good rates on this platform.

If you ever find yourself in a position to buy and sell cryptos, Visit Prestmit, it’s the best platform for you.

 

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