Tron (TRX) is one of the most popular cryptos in the market today. It is the top trending crypto on Google, and also has a very optimistic community behind it. That’s why after the main net launch, there is lots of optimism that its value will grow exponentially. The question now remains, how high and can TRX go, in its bid to create a decentralized internet, and take over the Dapps market?
Well, looking at its fundamentals, Tron looks all set to take over the platforms market. It is easily one of the most advanced platforms in the market. For instance, it has some of the fastest transaction speeds in the platforms market and also highly scalable, as compared to the more established platform blockchains in the market. However, even with all these fundamentals, there are two possible challenges that might hinder Tron’s rise to the top.
The first one is the developer network. Being a newcomer to the platform’s blockchain market, Tron is competing with blockchains that have very established developer networks. Ethereum for instance, has more than 250k developers, and the number keeps growing. Without the backing of a huge developer network, it would be difficult for Tron to effectively compete with Ethereum (ETH).
Secondly, Tron (TRX) is a Chinese blockchain, and its founder has strong ties to Alibaba founder Jack Ma. This means that blockchain users and developers especially in the west, might be skeptical of using it. That’s because most major Chinese brands have some connection to the Chinese government whether directly or indirectly. This might hold back major corporations from creating Dapps and running their smart contracts on this blockchain. The impact would be a restriction of Tron to China, thereby curtailing its potential to grow internationally.
Overcoming the challenges
While the above challenges are huge, Tron (TRX) has the capability and the strategy to overcome them. Starting with the challenge of developers, Tron’s strategy is to tap into Ethereum’s huge developer network. That’s why the Tron Virtual Machine (TVM) allows Ethereum developers to move their projects to the Tron blockchain with ease. Given all the advantages that Tron offers over Ethereum such as lower costs, scalability and speed, Tron looks set to attract a huge number of Ethereum developers. It’s simply a case of appealing to their needs, as an incentive to have them cross-over.
On the issue of it being Chinese, Tron has done a good job at keeping the project decentralized. The code is decentralized, and the voting process is very transparent. This openness gives credence to TRX both in and outside China, and this will push up its adoption in the long-run.
On this basis, any projections of Tron (TRX) exponentially growing in value in the long-run have a solid basis. Once everything that Tron has in its roadmap takes shape, Tron could easily rise to over $10. One thing is sure, Tron is highly undervalued at current prices.