Bet on Tron – the new crypto kid on the block

Without doubt the most well known and most used of cryptocurrencies is still Bitcoin. However hot on its heels is the up and coming cryptocurrency named Tron (TRX). As with Bitcoin, Tron utilizes the technology of blockchain.

A blockchain is a decentralized ledger system which records entries in “blocks”. When new blocks are created, the blocks form a chain creating a permanent record of transactions. The benefits of blockchain cryptocurrency is well known, providing authenticity, reliability, speed and efficiency without the need for a middle man. However, unlike Bitcoin, Tron supplements the use of the cryptocurrency with a decentralized applications (DApps) ecosystem.

As reported by CoinDesk, this DApps ecosystem has provided a surge in Tron’s popularity, whilst other cryptocurrencies have plateaued or regressed.

In the first quarter of 2019 alone:

• the value of Tron increased over 11%;
• was used to conduct over $1.6 billion of transactions; and
• had over 432,000 active users.

These are amazing statistics unmatched by any other cryptocurrency.

This spike can be attributed to the following:

1. A decentralized apps ecosystem that promotes collaboration amongst developers and expands accessability to users.
2. Rewarding developers who create quality content and the opportunity to for players to enjoy benefits for their game time.
3. There are much lower transaction fees for using the dapps on the Tron platform.

Tron is improving the experience for online gaming operators, developers and players and has overtaken Ethereum as the second most popular cryptocurrency.

Decentralize applications the key to success

The astounding increase in popularity is driven by the strategy of the eccentric CEO and founder of Tron, Justin Sun, to supplement the benefits of a cryptocurrency with a decentralized applications (Dapps) ecosystem. Dapps provides an open-source environment for developers to share coding of applications which is stored in a peer to peer environment, much like BitTorrent (which Tron has subsequently acquired). Peer to peer environments are extremely robust and efficient with coding and data transfer.

Still in its infancy though, TronApps are behind in creating a one stop shop portal for easy access and download of available DApps. Unlike Google which has Google Play and Apple which has iTunes, there is no core platform show casing TronApps. Nevertheless, Justin Sun is working quickly to build out a platform for this.

Although DApps is a fantastic ecosystem that has brought Tron success, Justin Sun wasn’t the first to use DApps as a strategy to optimize the use of a cryptocurrency. Ironically Ethereum and it’s platform was the pioneer in this field. So credit must first go to the creators of Ethereum. In fact when Tron was initially formed it used the Ethereum platform as the basis for it’s DApps ecosystem. And it wasn’t until June 2018 that Tron split from the Ethereum ecosystem and created its own Tron ecosystem.

Another benefit of a DApps ecosystem is the peer to peer open source environment expands the availability of its apps to users around the world. Users from China are utilizing VPNs to enjoy Tron gambling services such as 888tron. They would otherwise be unable to play at any standard online casino due to legal jurisdictions. It’s also being made available for players in the US where it’s legislations are in a “grey area“, making it difficult for punters to figure out where they can play safely.

Rewarding Developers

The second key to success for Tron is by creating avenues for developers to monetize their work, i.e. reward them for their work. Without rewarding developers for their work, there is no incentive for DApps on Tron to be developed and to evolve. A result of the reward strategy has been an organic surge of transactions.

The interesting part however is that this surge activity is primarily driven by games that involve gambling. One of the most popular games is Crazy Dogs which lets you place bets on a virtual dog racing track. It is these type of games that are attracting developers to create, and subsequently drawing in users to play.

Gambling has always been a big part of the dawn of new technology, as seen in the early days of the internet. And it’s only a natural extension that through an open-source environment, developers can seek an avenue rewarding their efforts.

64% of dapps on the Tron network facilitate gambling.

Tron has recognized the fact that the online gambling industry is vast and that it has enormous potential when combined with digital currencies regarding both the players and online casinos.

Augmenting the reward strategy, the Tron foundation has a program that gives developers $10,000 for building good quality DApps. To date, the Tron Foundation has given over 20 grants to developers to assist them with DApp building. This program has formed a vital foundation in supporting developers. Without developers and quality content, users naturally won’t be attracted to using Tron.

The Best Gambling Tron Apps

In November 2018, TRONGAME was launched being the first community casino! It’s most popular and original gambling game is slots. Very stylish fruit symbols, quick action and exciting. This game is heaps of fun and is growing with users on a daily basis. The simplicity of the game, makes this a big hit, as well as the opportunity to reward players through mining.

TronDice and TRONbet are other widely popular games in which players use TRX tokens.

TronDice, as the name suggest, is a tron gambling app based on dice. Again, simple and fun, just pick the outcome and you win! You can select bets for up to 6 dices. What makes TronDice so attractive to play compared to other online casinos, is its community feel, the ability to mine while playing and the potential for airdrops. As a player, you are rewarded for your loyalty and commitment to the game. The more you play, the more you are rewarded. The more you are rewarded, the more other players will come to play. It’s a snowball effect that generates sustainability and fun in the game!