Origin and factors affecting Tron Crypto Currency

The origin of Tron Crypto Currency. Tron founded by a Chinese enterprenuer Justin Sun in 2017. Tron cryto currency Foundation raised $70 million in 2017 through an Initial coin offering shortly before China outlawed the digital tokens. In 2018, TRON switched its protocol from an ERC-20 token on top of Ethereum to an independent peer-to-peer network. After that, marketed to rival Ethereum, TRON boomed in market capitalisation during the early part of 2018, becoming a top 10 cryptocurrency. On 25 July 2018, the TRON Foundation announced it had finished the acquisition of Bittorrent, the biggest peer-to-peer file sharing network. Upon this acquisition, in August 2018, BitTorrent Founder Bram Cohen also disclosed that he was leaving the company to found Chia, an alternative to bitcoin created to be a less energy-intensive cryptocurrency. By January 2019, TRON had a total market cap of about $1.6 billion. Despite this market performance, some authors viewed TRON as a typical case of the complex and disordered nature of cryptocurrencies. In February 2019, after being acquired by Tron Foundation, BitTorrent started its own token sale based on the TRON network. The internet community responded in a polarized way, many industry analysts including former staff from Tron Foundation, believe, it unlikely that Tron could execute transactions at the rate needed to make a tokenized BitTorrent work. In May, 2019, the cyber-security testing service HackerOne revealed, that just one computer could have brought TRON’s entire blockchain to a halt. The revelation showed that a barrage of requests sent by a single PC could be used to squeeze the power of the blockchain’s CPU, overload the memory, and perform a distributed denial-of-service (DDoS) attack. After cancellation of a dramatic charity lunch with Warren Buffett in July 2019. TRON’s fate started to become more obscure since the founder and the organization behind it suffered more public embarrassment.

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