Unlike most cryptocurrency ratings published online, the Wise Crypto ratings have nothing to do with the current or future price of the currency. Whether or not a crypto is over or undervalued or priced today is completely irrelevant. Our research focuses on the sustainability of each project, the security, the use case, decentralisation, environmental impact, the technology, the scalability and the developers and teams behind the projects.
TRON (TRX) Rating= 255/1000
Technology (0 to 300) = 205
- Speed (0 to 50) = 40
TRON is among the fastest cryptocurrency with a capacity of handling 2,000 Transactions per second, and a block is generated after every 3 seconds. TRON is superior to Ethereum in total, and average daily transactions and speed (TPS) can be attributed to its Sun Network (named after the infamous Justin Sun), which provides faster transaction speeds.
- Cost (0 to 50) = 50
While TRON claims to have a zero-transaction fee, TRX is charged from the transaction initiator and burnt. For a normal transfer, it costs about 0.002 TRX while a new account created by the transaction costs about 0.1 TRX. This is quite affordable.
- Scalability (0 to 50) = 40
TRON can scale much more thanks to its Sun Network which is one of Tron’s 100X scalability solutions. It allows decentralized applications(dApp) developers to use the code and build a side chain on the Tron blockchain to build their own dApp chain (DAppChain). The sidechains accommodate smart contracts and cross-chain communication. It allows dApps to run with low energy consumption, high security, and high efficiency. The Sun Network, therefore, provides unlimited capacity for the Tron main network to become more scalable and support a greater number of transactions.
- Environmental Impact (0 to 50) = 50
The impact of TRON on the environment is much less when compared to that of Bitcoin and Ethereum. This is because TRON’s network is designed to have 27 Super Representative’s & Candidates. TRX currently has less than 1,000 nodes supporting the entire network. The electrical and environmental cost of 1,000 computers running the entire TRON network is far less than what is required to support some cryptocurrencies such as Ethereum and Bitcoin.
- Reliability (0 to 50) = 25
TRON network is indeed reliable when you consider its fast transactions fees as well as low costs. This offers real-world opportunities for point-of-sale and purchasing. There have been a number of critical vulnerabilities found over the past year however and considering how young the project is, it is far too early to give a clear thumbs up on its reliability.
- Decentralization (0 to 50) = 0
There have been claims that TRON isn’t fully decentralized up to a point where even the company’s CTO-Lucien Chen has resigned. The DPOS mechanism of Tron is pseudo-decentralized, causing a problem of centralized voting. Chen notes that TRON is no longer decentralized as some nodes have more than 90% of the votes with only a few voters. Thus, the vote of ordinary retail investors has failed. Also, the total number of TRX in TRON is 100 billion, while the total number of votes for the super representatives is less than 8 billion, creating decentralization issues.
There are further issues regarding how many of the 27 SR’s are actually under the control of Justin Sun and his team with Bittorrent, uTorrent, Beatz, Justin himself, Tron Link, Tron Scan and others being current reps.
Security (-250 to 0) = -150
- Reorg, 51% & Brute Force Attack (-100 to 0) = -50
Recently, hackers were reported to have carried out DDoS on the Tron’s network. Apparently, they consumed the CPU power of the network to mine TRX using malicious code in the smart contracts. By using a single machine, an attacker can send DDOS attack to all or 51% of the SR node and render Tron network unusable or make it unavailable. This was a critical vulnerability which could have rendered the blockchain unusable. However, it was fixed, but we are not sure if it was on time.
- Potential for being banned (-100 to 0) = -80
TRX is 15th place in the cryptocurrency market cap rating with 2.3 billion US dollars. The platform abides by the set rules and therefore has minimal chances of being delisted from major exchanges, especially with Justin Sun and CZ Binance being such close partners in crime.
Still, the rumors that it had plagiarized its whitepaper plus the scandals that continue befalling unto the Tron’s founder, Justin Sun, things could turn for the worse for the whole project.
There are reports that the Chinese authorities are hunting Sun. The Bittorrent & uTorrent network Sun bought is paying people to share pirated material. Wink and other Tron based gambling networks are illegally offering gambling to banned countries.
- Network Vulnerabilities (-50 to 0) = -20
TRON has network vulnerabilities that are notable on the java-Tron, which affects the TRON blockchain integrity. Especially if valid against a Super Representative node which is capable of producing blocks and collecting mining rewards.
Use Case (0 to 500) = 200
- Initial Main Use Case (0 to 100) = 0
TRON was created to provide a global and free entertainment content ecosystem in which creators have the power to publish freely, store, and own their content. Also, they could interact directly with consumers via decentralized issuance, circulation, and trading of digital assets.
It has since not achieved this purpose, instead the network has primarily turned into an illegal gambling den. As for the decentralized content aim, this has been to by the wayside in favour of illegal pirate material.
Furthermore where it would have been fantastic has Tron turned Bittorrent into a legal decentralized competitor to Netflix and Amazon, using TRX in some shape or form… They sold out completely and even created a new Bittorrent Token (BTT) rendering TRX useless for this use case. The creation of WINk token for gambling and BeatzCoin for a BitTorrent based streaming site further render TRX completely useless with regards the initial use case.
- Mainnet Live (0 to 200) = 200
On June 2018, TRON officially activated its mainnet, migrating from Ethereum blockchain, and completed coin burn of 1 billion TRX. After mainnet launch TRON acquired BitTorrent, the pioneer in distributing computing, thus expanding its ecosystem with 100M new members.
- Additional Use Cases (0 to 100) = 0
Dozens and dozens of announcements and promises have come our way out of the Twitter promotions of Justin Sun. None have materialised and the use cases that did come to fruition (illegal or not) are all getting their own token rendering TRX itself worthless.
- Additional Working Products (0 to 100) = 0
TRON initially came under criticism for having a $14 Billion plagarised whitepaper with no working products. Nonetheless, the main net came around and things work okay on there albeit a bit messy and clunky. No other products of note have appeared however and if they do you can bet Justin will create a new token for each one.
Core Team, Partnerships and Developers (0 to 200) = 0
- Core Team & Developers (0 to 100) = 0
TRON’s core team is led by Yuchen Justin Sun, who has been renowned in the cryptocurrency world attributed to his never ending announcements, shilling, lies and childishness. Sun’s main merits revolve around his so called innovative marketing techniques. There have been several minor incidents of scandalous behavior from the founder.
When the Buffet lunch didn’t happen, it stirred a lot of mixed reactions in its community that eventually saw the market value of TRX go down. Whatever reason he gave (kidney stones), it seems a fraction of his supporters didn’t believe him and have lost faith in the project.
The Tesla giveaway has been nothing short of woeful where we still don’t know if the winners of the competition ever received anything.
There was a lot of controversy surrounding the Oddysey (OCN) scam.
Bittorrent hasn’t gone legal, in fact doubling down on pirate material.
WINk and other gambling platforms are illegal and despite Justin promising they would be inaccessible in Japan, our testers in Japan have been able to access the sites. Other countries where these gambling platforms should be banned are also still accessible.
Jack Ma has nothing to do with Tron.
Numerous announced partnerships failed to materialise.
Co founders and employees have left Tron in disgust.
Chinese police stormed the Tron offices in Beijing.
Rumour has it Justin is wanted by Chinese authorities, including the Chinese government issuing a travel ban should he ever return to China.
Many blatant scam coins were launched on the Tron network and Justin Sun’s refusal to tackle the ease with which this can be done on the platform.
- Partnerships (0 to 100) = 0
TRON Foundation was announced to have partnered with various companies to increase TRX use cases. Nothing has materialized.
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