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In a trailer for a documentary, Justin Sun shared the details of how cryptocurrency could become an essential financial infrastructure across the globe. Justin Sun, the founder of Tron, predicted that the future holds a lot of possibilities for Web3 and Decentralization.
A few statistics were placed to show how much the crypto market has grown in valuation. It has come to $2 trillion in value in five years, and the aim is to grow it four times in the following five times. Assuming the jump happens for cryptocurrencies, the value would cross $20 trillion.
Possibilities of Web3 and Decentralization are endless, the statement being a minor hint about the hype that it has in the world. The trend is more common among the younger generation. People have preferred to explore cryptocurrency over reading about credit cards. Most of them have registered on a crypto exchange platform before opening an actual bank account.
Justin Sun rightly said that cryptocurrency has the capability of becoming an important financial infrastructure. Working in its favor is the power that blockchain provides. There is no time limit as the technology stays online 24/7, giving a huge boost to the decentralized ecosystem, which has become Web3.
Go to a village, and there is a chance that the internet will be accessible. In other words, it implies that anyone can reach out to Web3 from any part of the world at nearly zero cost. Having a device is still mandatory, though. The number of crypto wallets has inched closer to 250 million. Every year registers an upward movement, signaling that the number will cross the mark in the coming days.
Also, only 25 million crypto wallets were noted to be active in 2018. A ten times growth in almost four years is praiseworthy. If the pace must be a factor, then there is no doubt that more wallets will open up. Several platforms are becoming visible to customers to get them on board for trading.
While professionals don’t mind giving it a fair try, newcomers hesitate out of the fear of losing their hard-earned money. Platforms have strategically tackled it through the provision of allowing newly registered users to access a trial account first.
Justin Sun highlighted this portion as well. Tron is currently aiming to develop a new algorithmic decentralized stablecoin in the next quarter, and it could change the game for everyone. Stablecoins are known to have less volatility as compared to cryptocurrency.
Users can switch anytime based on their confidence, starting from the trial account. The Tron Foundation developed Tron as an operating system based on decentralized blockchain technology. TRX, the native token, was earlier on Ethereum, and it has now been migrated to Tron’s network.