Cryptocurrencies are still a matter of fierce debate between both experts and non-experts alike. Both sides cling to their beliefs. Crypto proponents claim that digital currencies are the future and that regular, so-called fiat currencies will either disappear or be used only in specific circumstances.
Opponents, on the other hand, say that cryptos are too unstable and easily manipulated and as such unfit for mass usage. Both arguments have their merits and it is still hard to tell who is right. As usual, the truth is probably somewhere in the middle. One coin that definitely steered the debate towards cryptocurrencies is Tron.
A recent addition to the digital coins family, Tron has managed to create quite a lot of stir on the market. Despite that, there are many people out there who still aren’t clear what is the difference between Tron and bitcoin, for example.
Tron is the currency of a decentralized entertainment and content-sharing platform with the same name. It was created by Justin Sun in 2017 and is managed by The Tron Foundation based in Singapore. Tron is one of the last cryptocurrencies that came from China, just before that country banned them.
In essence, it is no different than any other digital coin that came out in the last five or ten years, with one startling difference. By January 2019, TRON reached a total market cap of $1.6 billion, posting a stunning 2,000% growth from December. In just three weeks, Tron managed to surpass the growth records of almost all crypto coins.
This naturally brought the attention of all major media, especially those dealing with financial news. Among other things, the accusation of plagiarism of their white paper also surfaced. Sun was accused that he failed to disclose that Thor was mainly based on Ethereum. Both Sun and the Thor Foundation vehemently denied these charges.
Bitcoin doesn’t really need a special introduction. The world’s first and most famous crypto coin and the one that started the whole crypto craze, bitcoin has been around for more than a decade. Satoshi Nakamoto published his white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in January 2009 and the legend was born.
Since then, bitcoin had its ups and downs, reaching an all-time high value of almost $20,000 in December 2017. It has dropped significantly since then, but in 2020 it rose again, this time to more than $44,000. This has made making a deposit with bitcoin extremely easy, as more and more companies accept it as a form of payment. We can fully expect to buy groceries with bitcoin in the not-so-distant future.
While a considerable number of people aren’t too happy with this, citing numerous risks associated with cryptocurrency, it seems inevitable at this point. Short of a worldwide action coordinated by nations’ governments, bitcoin is here to stay.
Tron is designed for a very specific niche. As a part of an entertainment platform, Tron is envisioned as a currency to be used mainly between the network and its users. In essence, all content creators will receive payments in Tron currency, instead of in fiat ones, like the dollar.
Taken at the face value, this narrows the field considerably for the use of Tron, if it weren’t for one small, often overlooked detail. While it is true that you earn Tron within the network, nobody is limiting you where to spend it. Think of it as a paycheck. You draw your salary from your job exclusively, but you can spend it anywhere you want. The same goes for Tron.
This fact alone makes Tron very tempting for both creators and investors. That is the main reason that the coin has landed among the top ten cryptocurrencies on market evaluation just one year after its launch. If you are looking for a proof of concept, you don’t need much more than that.
Designed with no limitations in mind, bitcoin is widely accepted across the globe. From online shopping to online casinos, almost everybody will gladly accept your bitcoin payments without any fuss. One of the things that makes a major difference between crypto and fiat currencies is that when you buy a crypto coin, you are essentially making an investment.
Unless you spend it immediately, you are banking that by the time you need to use it, its value will increase and you will have made money on your investment. This is just a part of the allure of bitcoin, but it is a powerful one that made it so popular with the masses, not just investors.
This mass adaptation paved the way for other cryptocurrencies, but not a single one has managed to surpass bitcoin in popularity or usage. It is still considered a golden standard among digital coins and it will remain so for considerable future.
Tron vs Bitcoin – Summary
The difference and usage between Tron and Bitcoin mainly come from the way we earn them. If you want bitcoin, you have to mine it, although it is getting increasingly less effective. For Tron, you can earn it from Tron Network.
As far as usage goes, both can be used identically, as a form of payment or as an investment. The only limitation is that some companies aren’t accepting crypto as a form of payment, but that will change soon enough.