Is Tron A Better Cryptocurrency Than Bitcoin?
Due to its low power consumption, Tron is considered to be the most eco-friendly blockchain by the Crypto Carbon Ratings Institute (CCRI). The mission of the CCRI is to reduce carbon emissions associated with crypto projects.
Based on the report, it has been demonstrated that DPoS is a more carbon-efficient consensus mechanism than proof-of-work (PoW) on Bitcoin. The TRX tokens are stacked against nodes on the DPoS network to validate transactions.
A report was commissioned by the Tron Foundation, the organization responsible for developing and maintaining the Tron blockchain. Many crypto skeptics are concerned about CCRI's track record and how it affects the environment through its involvement in over 20 networks.
Cryptocurrencies such as Bitcoin or Ethereum, which utilize proof-of-work (PoW) blockchain technology, consume over 83 million kWh and 22 million kWh, respectively. As part of "The Merge" in mid-September, Ethereum will transition to a proof-of-stake consensus mechanism.
The total energy used by Tron for over 2.31 billion transactions was 162,868 kWh, which is 99.9% less than the total energy used by Bitcoin and Ethereum combined. CCRI estimates that Tron's energy consumption is comparable to 15 average American households.
Buying TRX: why is it a good idea?
- There are zero transaction fees with Tron, whereas there are a lot with Bitcoin and Ethereum.
- Its value reached $108 million a month after launch, making it one of the fastest-growing cryptocurrencies.
- Since TRX is staked at a 1:1 ratio, it allows users to earn income by betting or holding it. The number of TRX assets staked determines how much TRX you earn.
- TRON's network is also safer because of this.
- Crypto tokens like TRX can be stored on a desktop, mobile wallet, or hardware wallet.
- A token, smart contract and decentralized application (dApp) are some of the basic TRX building blocks.
TRON price prediction in 2022
According to the technical analysis of TRON prices in 2022, TRON will cost at least $0.069. With a $0.076 maximum price, TRX could go even higher. There's a good chance the average trading price will be $0.072.
Return on investment: 29%
Price prediction for TRX in September 2022
The price of TRX is expected to average $0.065 in September 2022, based on recent price fluctuations. TRX's minimum and maximum values are $0.059 and $0.067, respectively.
Return on investment: 14%
Price prediction for TRX in October 2022
TRON experts are coming up with predictions for TRX prices in October 2022. During this month, trading costs could be as low as $0.064 or as high as $0.069. The average value of TRON is expected to be around $0.068.
Return on investment: 17%
Price prediction for TRX in November 2022
Crypto analysts predict that the average TRX rate will be $0.069 in November 2022 based on price fluctuations in 2022 and previous years, with the price dropping to $0.066 at the very least. A maximum value of $0.073 is possible.
Return on investment: 24%
Price prediction for TRX in December 2022
In December 2022, it is expected that TRX's price will trade at $0.072 on average. There is also a possibility that TRX's price may rise to $0.076 in December 2022. The assumption is that TRX's price will not fall below $0.069 in December 2022.
Return on investment: 29%
Price prediction for TRX in 2023
The minimum price of TRON in 2023 is predicted to be around $0.100 based on the prices of TRON in previous years. TRX's price could reach $0.12 at its maximum. On average, 2023 may experience a trading price of $0.10.
Return on investment: 103%
There are several advantages to using TRON over other coins, and its blockchain is quicker than Ethereum. If the price predictions are correct, TRON could be a good investment in 2022.
There is a great deal of energy consumed by a PoW blockchain due to its validation requirements.
SHA-256 hashing function with Bitcoin and Keccak-256 hashing function with Ethereum, both highly energy-intensive to run, maintain, and cool, are required for validating PoW networks.
Polkadot had the lowest carbon footprint in a previous CCRI report, while Cardano used the least electricity per transaction, and Solana used the least electricity per node.
CCRI believes that even though PoS networks consume relatively little energy, other factors should be considered when evaluating them.
When selecting a PoS blockchain protocol, other factors (e.g., decentralization) should be considered in addition to decentralization, network throughput, and functionality (e.g., smart contracts).