Tron is the latest entry into the top ten list of cryptocurrencies. It currently sits at 9th place on coinmarketcap.com. All this was achieved without a mainnet and within months of launching its initial coin offering. Whether this is as a result of its sound value proposition or exuberance in the cryptocurrency market is a topic for another day. Tron has a fairly large team behind it but we can attribute most of the successes chalked to its founder Justin Sun. Before coming out with Tron, Justin worked at Ripple Labs and also created a successful app in China. He has appeared on Forbes’ 30 under 30 list for the past three years.
Mr. Sun graduated from Peking University, China’s top university, with a bachelors degree in History. During the course of his study, he became the president of the university’s association of western studies and also made the dean’s list regularly. He furthered his education at University of Pennsylvania and graduated in 2013 with a Master of Arts Degree in Political Economy. A couple of months ago, Justin also graduated from Hupan University where he presented his thesis on “The Birth of a Decentralized Internet.”
With his background and achievements, Justin has shown that the blockchain world and tech world at large is not reserved for only computer engineering graduates. Skills and knowledge from different backgrounds can also be put to productive use in the space.
Creating a Fast Growing Cryptocurrency
With Tron, Justin wants to have entertainment content on the blockchain. By doing this, he plans to have content providers and consumers more connected and do away with middlemen. Tron was also designed to be able to scale and handle the high number transactions such project would have if successful. At the center of this platform is the Tronix coin (TRX).
The crowdsale for Tronix coin (TRX), the token for the Tron platform, raised $70 million in September 2017. Since then, the price of the token has increased tremendously both in dollar and Bitcoin terms. Even without actually releasing the final product, we can say Mr. Sun has already been successful.
One reason for this success is that he and the Tron team pushed to have the token listed on cryptocurrency exchanges early on. In less than a year, Tronix (TRX) is already being traded on top exchanges like Binance, Huobi, OKEx, Bittrex, and Upbit.
Also, Justin is probably the type of founder most cryptocurrency holders would want for their altcoin. Amongst other contributions of his, Justin Sun frequently provides twitter updates on Tron. The cryptocurrency’s founder simply doesn’t shy away from talking up the price. Such announcements have often led to increases in the price of the cryptocurrency. Tron has in recent months been a top gainer on the cryptocurrency market on a number of occasions.
With the launch of the Tron virtual machine slated for 25 May and the mainnet launch expected on the 31st of the same month, we can be prepared to see more social media antics from Justin as well as positive price action for Tron. As a matter of fact, this might already be happening. The price of TRX has seen a 10% increase within the last 24 hours.
Before Creating Tron
As stated in the introduction, Tron was not Justin Sun’s first rodeo. He is also the brain behind the highly successful app known as Peiwo which is Chinese for “call me”. The app which is focused on voice streaming is very popular amongst young people in China. With over 10 million users, the app was able to attract several investors. In February this year, the Tron team announced that substantial work on the integration of Peiwo app into the Tron platform had been completed. We await further developments to see fruits this integration would bear.
The same year he graduated from Univerisity of Pennsylvania, Sun worked for Ripple Labs’ China operations for about 2 years. At Ripple Labs, he worked as chief representative in Greater China, special representative and later played the role of advisor.
We have become used to young and successful individuals in the tech world but this does not mean it has become easier to reach such heights at an early stage in life. At the age of 26, Justin Sun already has an impressive track record. With Tron and the blockchain world, there should be more to come. We will continue to follow progress on Tron and see if it lives up to the hype.