TRX or ALGO: Which Coin Has More Potential? 

In the last couple of years, we’ve seen some incredible projects hit the crypto markets. Scalable blockchains with new technology have popped up, providing innovative solutions to lasting issues in the industry. 

Algorand is an innovative project that aims to revolutionize the blockchain industry with highly scalable smart contracts. However, even though it revolutionizes the industry in many ways, it hasn’t been able to beat Tron’s popularity in this space. 

In this article, we compare TRX vs ALGO and provide an in-depth overview of both projects. 

Tron Project Review

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Tron has been an industry leader almost since its inception in 2017. The TRX token started out as an ERC20 token on Ethereum but soon enough introduced its own blockchain. 

Initially meant to be a multimedia platform, the Tron blockchain implemented a delegated proof of stake consensus with the goal of reducing the transaction times of Ethereum. It provides developers with EVM-compatible smart contracts and allows them to port existing code to its scalable blockchain easily. 

Thanks to its fast transactions, stability, and low fees, it has become a widely used chain for DeFi and money transfers. The TRX token is used extensively within its ecosystem for gas fees and staking with Super Representatives, which are the validators on the Tron blockchain

TRX: Market Performance and Outlook

TRX was among the highest gainers in the previous bull market, starting at $0.002 and reaching $0.2 quickly after. While the subsequent bear market pushed prices as low as $0.01, Tron kept building its ecosystem and growing its community. 

This allowed it to ride the bullish wave of 2021 from $0.03 to a high price of $0.15, which it reached in April 2021. The price has retraced significantly since then, and TRX is now trading at around $0.05 per token. 

Nevertheless, priceprediction.net provides a bullish target for TRX in 2023, forecasting $0.097 per token. 

Algorand Project Review

Algorand entered the blockchain space in late 2019 amid the bear market. It effectively solves the blockchain trilemma by being secure, decentralized, and scalable without compromising on any of these aspects. 

Moreover, Algorand claims to be entirely environmentally sustainable, thanks to its low energy requirements. It’s also offsetting its carbon emissions through its partnership with ClimateTrade. 

The project has managed to draw in developers that have launched hundreds of useful dApps on the chain covering DeFi, NFTs, data exchange, and much more. To solve the issue of on-chain liquidity, the team launched a trustless bridge with Ethereum, allowing the seamless exchange of assets between the two chains. 

An interesting fact is that Algorand’s PPOS distributes staking rewards to all token holders instead of just validators. This ensures that the chain remains decentralized in terms of holdings and governance. 

ALGO: Market Performance and Outlook

The Algo token launched with a very high price of $3.2 amid the bear market in 2019. This caused the price to crash, and by March 2020, ALGO was trading at only $0.12. However, it performed quite admirably in the bull run of 2021, as its innovative protocol lured investors and developers. 

As a result, the price rose to a 2-year high of $2.3, pushing the project among the top scalable blockchains in the industry. The current bear market, however, has caused the price to go down again, and ALGO is currently trading at $0.17. 

Despite the recent downturn, analysts on priceprediction.net are enthusiastic about the token, providing a price prediction of $0.29 for 2023. 

Final Choice

Tron and Algorand are both amazing projects with huge potential. ALGO has the edge on technology, while TRX has a vibrant and global community of supporters. Even analysts are providing similar return predictions, making the choice even harder. However, Tron has performed much better in the bear market, which might be the deciding point. This is also true when comparing tokens like AAVE vs AVAX — picking the more resilient one is often the better choice for long-term investments. 

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