Symbol – TRX
Whitepaper – Link
Where – The ICO will take place on Binance
September 9th, 2017 Update: Tron moved their ICO up, they have now completed funding
How to Participate – The sale will be done in 3 phases, with users able to contribute BNB (Binance) BTC (Bitcoin) or ETH (Ethereum) tokens during each phase of the ICO.
Soft Cap – 10’000 BTC / 40 Million USD
Hard Cap – None
Total Market Cap At ICO – 40 Billion TRX Tokens * Final Token Price
TRON, also known as TRONIX, is a token created for the Chinese digital entertainment industry. The problem that TRON solves is multifold – as we approach ever increasing variations of blockchain technologies, it will become difficult to choose the best ones for each job. TRON is cross-compatible with existing blockchains such as EOS, Bitcoin, Ethereum, and Qtum. TRON is a platform that leverages the advantages of all of these blockchains and enables developers on the TRON network to make the best use of these technologies. Usage of the TRON network will also lessen the requirement of new services to gather data from an individual or group – that input data will already be saved to the blockchain. In similar fashion to how you can now sign up to services such as Twitter, Facebook, and others using your G-Mail credentials, TRON will enable users to sign up to new services and products seamlessly and with the touch of a button.
TRON was founded by Justin Sun, who served as Chief Representative of Ripple in China, was mentored under Jack Ma, and most importantly created Peiwo, which is the largest pay-to-chat application in China. Peiwo currently has over ten million registered accounts and one million active users per month, which is set to be the first TRON-enabled application this September. Those looking for Minimum Viable Products will surely be pleased with this kind of investment.
Some of TRON’s investors include the infamous Jihan Wu, who is the CEO of BITMAIN, as well as other prominent Chinese businessmen such as Clash of King creator Binshen Tang, and Chaoyong Wang, founder of the ChinaEquity Group.
This project has an all-star team backing and investing it, a great concept, and an actual product that is already used by millions of people. The problem is that the ICO is uncapped – in similar fashion to projects such as Ethereum and Tezos, uncapped ICO’s can lead to massive overbuying. This massive overbuying during the ICO phase can lead to reduced profits once the tokens are on live markets, and with as much hype that China currently has regarding cryptocurrencies, it’s a rather safe bet that this ICO will likely finish with somewhere in the neighborhood of 100 million market cap on release.
It’s also rather a slow project, as some of the stated timelines for their roadmaps extend as far as 2025 – quite the long hold time for an investor looking to leverage faster crypto gains.
This is an absolutely incredible project, with great backing and a surefire system to get this product in front of people and get lots of use in the future. The aspect of an uncapped ICO however, leaves something to be desired with TRON.