Tron (TRX) and Sonm Coin (SNM) are two very interesting projects focused on the crypto world. Market analyses predict a very rich future for both projects.
Both have an open and decentralized structure and, as we have discussed previously, decentralized finance (DeFi) seems to be one of the cornerstones of the future of blockchain. Investment with regards to DeFi-focused projects is in the interest of many.
This article will provide a good overview of the two projects, analyzing their functionality and structure. Furthermore, it will provide the predictions made by market analysts for both crypto assets.
What is Tron (TRX) and how does the crypto work?
When talking about the Tron (TRX) crypto project, we refer to an open source, decentralized blockchain platform. The project provides users with access to entertainment applications such as games, videos and graphic materials. It also has the ability to connect users with each other.
Tron’s project provides many features to the user, such as creating their own tokens or applications, using smart contracts.
Decentralization is one of the most important aspects of the project; it allows the transfer of money between users without involving third parties, thus banks or financial intermediaries.
It therefore differs among the rest of the cryptocurrencies because of its decentralized content platform.
What really makes Tron unique, however, is its architecture. In fact, the platform is divided into three layers: the first layer is the Storage Layer, which consists of distributed block storage.
The second layer is the application layer (App), which is used by developers to create and deploy dApps, where they issue their own tokens.
Finally, there is the third layer i.e., the core layer, which contains the smart contracts and the various modules.
All layers are connected to each other via a protocol compatible with different programming languages.
Tron has also created its own community, launched with the aim of accelerating the decentralization of the Internet through dApps and Blockchain. Recent news about the community is that it joined the Enterprise Ethereum Alliance (EEA) on 27 December.
Indeed, the alliance aims to build, promote and support best practices, standards and reference architecture of Ethereum blockchain technology that can handle real-world applications and usage.
The CEO of Tron, Justin Sun, was pleased with the collaboration with EEA, a step forward for the crypto industry:
“Blockchain has the potential to change the world in ways we can’t even imagine, and we need to coordinate together to make it happen. I am optimistic that partnerships like this are one of the healthiest moves we can make collectively.”
Price predictions for Tron (TRX)
The value of Tron (TRX) very often has been influenced by factors in the market for decentralized applications (dApps). Often the price fluctuation also varies relatively to the prices of competitors in the industry (such as EOS or Ethereum).
However, as we mentioned earlier, interest in decentralized finance is growing by leaps and bounds, therefore, this could create a larger trading volume for crypto and thus increase its value in the coming years.
Today’s value of the Tron crypto is $0.0626. However, predictions see it much higher, starting already in early 2023. Market analysts base their predictions solely on technical indicators, such as trend lines or Fibonacci retracements and RSI.
According to analysts, Tron is one of the cryptocurrencies that will make headlines as early as 2023. The rise will be gradual, but at the same time very ambitious. No drastic declines are expected this year but only price adjustments.
According to market charts, the price of TRX will peak (annually) in the second part of 2023, potentially reaching a high of $0.0942.
Forecasts for subsequent years are even more ambitious, but clearly less precise in terms of analysis.
What is the crypto Sonm Coin (SNM) and how does it work?
The Sonm project is a global operating system that acts as a decentralized global computer.
Sonm brings computing power wherever it is needed. The project with this system, performs any number of computing tasks. Like Tron, it differs from other crypto projects because of its decentralized and open structure.
Compared to other famous cloud services such as Amazon, Google and Microsoft, those using this operating system can interact with other users without having intermediaries, creating a profitable market for themselves.
Sonm uses the SOSNA (Super Global Operating System) operating system, with Fog Computing’s NetWork architecture. That is to say, a model that uses the resources of various devices on the Internet, to process and analyze data.
Sonm’s token, SNM, is based on the Ethereum blockchain system. The pricing of the SONM Coin is supported by strong market demand for computing power and the ability to provide more competitive pricing than traditional cloud computing services.
In addition, Sonm provides a unique and highly elaborate fraud protection system, which provides their users with very reliable protection against web threats.
The goal of the project is to transform the way computing is done, using equipment such as PCs.
Price predictions for Sonm (SNM)
The price of Sonm is often affected by large-scale events, such as halving the block reward, hard forks, or major changes to the Ethereum protocol. Furthermore, the legislature is a factor on which the price of the token is highly dependent.
The current value of the Sonm project’s native token is $0.93. But the predictions for this token are also very positive. Like Tron (TRX), Sonm (SNM) is also related to the world of DeFi, so the same futuristic argument applies to the Sonm token.
Sonm’s project is one of the most mind-blowing in recent years, and the predictions are very ambitious indeed. Analysts predict that in 2023, particularly in the second half of the year, the token will be able to reach a price of $2.00.
But its real glow up will come in 2024, tripling today’s price and reaching about $3.00. The future, according to market analysts, will give plenty of room for projects like this.
Most likely an investment focused on decentralized finance (DeFi), in particular Somn (SMN), will be a profitable investment.