Tron (TRX) is a blockchain platform aimed at changing the old ways of sharing, accessing, and distributing digital content. The platform was founded in 2017 by entrepreneur Justin Sun to challenge the old ways of content distribution by providing a decentralized and fully transparent platform for creators, developers, and users.
Tron was created in 2017, intending to decentralize the digital content and the entertainment space. Created by Justin Sun, Tron’s open-source protocol was released in December 2017, boasting a high level of transparency.
From March to May 2018, Tron came up with its Testnet, Blockchain Explorer, and Web Wallet and then finally released its Mainnet (Odyssey 2.0). In June 2018 Tron broke away from its parent Ethereum-based token and then, finally in July, it acquired BitTorrent.
By October 2018, Tron had released the TRON Virtual Machine (TVM) and, with Project Atlas, planned on integrating BitTorrent’s users into the Tron system.
TRON was established to compete with all the major global content providers like Amazon, Netflix, and YouTube, granting users’ data sovereignty. This contrasts with the traditional web, in which content is controlled by intermediaries, as in the case of TRON, the users retain all copyright ownership to anything they share on it.
The TRON token serves three primary purposes:
TRON supports smart contracts and is aspiring to secure a position in web3 and the construction of decentralized applications (dApps).
Just recently, data from TRONSCAN showed that the TVL of the TRON network has reached $22 billion, securing a second place in the list of blockchains with the highest TVL.
Besides driving growth in a decentralized web that has already reached over 235 million users, TRON aims to act as a tool for creators to publish their content without any intermediaries.
Therefore, the largest market for TRON is represented by content creators, followed by gaming and video streaming as the two most represented applications on the platform.
Lately, TRON had not announced any bleeding-edge technology, so, the team could have time to focus on delivering great UX.
In the TRON scenario, success means covering decentralization, content creation, and UX, which are the three key themes that will be covered in the following discussion about recent advances on TRON and its architecture overview.
The total supply of TRX tokens stands at 100 billion, with about 40% in circulation following the ICO in late 2018. TRON has a vision that suits well with the objectives of Web3 and is definitely a project to look out for in the future.
However, it must be said that it has not been all positive feedback, as its detractors, including Ethereum’s creator, Vitalik Buterin, have criticized its initial white paper for obvious plagiarism.
| Launched | 2017 |
| Location | Singapore |
| Registered Users | Over 160+ million |
| Governed By | Tron Foundation |
| Native Cryptocurrency | TRON (TRX) |
| Transaction Fees | From Zero |
| TPS | 2,000 TPS |
| Consensus Mechanism | Delegated Proof of Stake |
High Throughput
TRON has a much higher throughput rate than the other cryptocurrencies, with increased network TPS, and hence it is the most usable system compared to Bitcoin and Ethereum.
High Scalability
Strong scalability and the support for smart contracts allow different kinds of applications to be hosted by the TRON network, making it viable for supporting massive user operations.
High Availability
TRON has a more reliable network structure, more secure user assets, and inherent value. It further decentralizes the consensus with a more sophisticated rewards distribution mechanism.
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TRON is a decentralized blockchain-based platform working on free, global digital content entertainment with distributed storage technology. Here are the major products and services of TRON:
Mainnet: TRON’s main blockchain network where all transactions and smart contracts are executed.
TRX (Tronix): The native cryptocurrency of the TRON blockchain, using it for transactions and as a medium of exchange within the TRON ecosystem.
dApp Ecosystem: TRON provides the infrastructure for developing and running dApps. It supports high throughput, high scalability, and high availability for dApps.
DAppChain: DAppChain is TRON’s sidechain project. The goal is to help DApps to operate on TRON with lower energy consumption, faster speed and enhanced safety, providing unlimited capacity for TRON’s main network.
TRONLink: A popular wallet that allows you to store, send, and receive TRX and TRC tokens. With this wallet, users can also interact with dApps right from their wallets.
TRON Wallet: It is both a mobile and desktop wallet having similar functionalities to TronLink. However, TRON wallets are developed and contributed by the community.
Just (JST): A DeFi platform built on the TRON blockchain, offering lending, borrowing, and stablecoin issuance services.
Sunswap: Another TRON-based DeFi project that focuses on DEX and liquidity provision.
BitTorrent Protocol Integration: Acquired by TRON, the BitTorrent platform, which integrated its peer-to-peer file-sharing protocol with the TRON blockchain for better distribution and storage of content.
BTT (BitTorrent Token): It is a cryptocurrency token used across the entire BitTorrent ecosystem to incentivize users to share and increase network speed.
The official block explorer for TRON, providing insight into transactions, blocks, and other network activity.
The infrastructure service is similar to Ethereum’s Infura, providing APIs and developer tools for building and interacting with the TRON blockchain.
Standards for tokens on the TRON network. TRC-10 is native to TRON, while TRC-20 is compatible with Ethereum’s ERC-20 standard.
Super Representatives: These are block-producing and transaction-verifying nodes. Super Representatives are elected through TRX holders’ voting.
Any holder of TRX can become a Super Representative and earn block rewards. TRX holders have the right to stake their token and vote for Super Representatives.
Readmore: TRON Vigilant Defense Ensures Safe, Affordable, Reliable Global Transactions!
Effective TRX trading is not possible without finding out some fundamentals of the trading process and being scrupulous about some key data points.
Right now, TRX is listed on 83 global cryptocurrency exchanges, among others being Binance, OKX, and Bitget. However, ChangeNOW is considered easy to use and safe.
Choose TRX and the amount for your desired exchange. You can do this with more than 170 cryptocurrencies and tokens supported. Additionally, you can directly trade TRX with your fiat money from a bank account or credit card with Visa or MasterCard payment system.
Enter the wallet address that you want to receive TRX. For amounts over $150, the service might ask for KYC, but usually, you have your currency without the need for an account.
Just wait, and in ~5 minutes, you get your TRX.
Remember, ChangeNOW’s a non-custodial service—you don’t have to create an account, send your assets, and trust in the safety of the exchange.
Exchange as much as you like because there is no upper limit. It’s an adaptable service adding new and upcoming cryptocurrencies regularly to stay in line with market trends.
In conclusion, it is evident that TRON Exchange (TRX Exchange) has revolutionized the way content is shared and accessed in this digital space. With a strong infrastructure, great scalability, and an amazing transaction speed, TRON Exchange is a plausible platform for content creators, gamers, and video streamers.
In addition, despite criticisms and the need for further expansion, TRON’s focus on decentralization, content creation, and user experience makes it a hopeful player in the decentralized web.
Effective trading of TRX should involve understanding the process, choosing a trusted exchange platform, and ensuring the security of your digital assets. And while the TRON ecosystem is growing and developing, it remains an exciting project in the area of digital content distribution.
Readmore: Top 5 Projects On TRON Blockchain
TRX can be bought on various cryptocurrencies such as Binance, Kraken, BITFLEX, ByBit and Huobi. All one has to do is create an account, deposit some funds, and then trade them in for TRX.
Compared to Ethereum, it hosts smart contracts on Tron with a greater throughput and reduced transaction cost. Though more sustainable and time-tested, Ethereum has a more considerable development community behind it and a better DeFi ecosystem.
The sustainability factor with TRX as an investment lies heavily in one’s personal tolerance of risks and investment objectives. As with any cryptocurrency, thorough research is necessary, while potential risks are also needed to be considered.
Yes, Tron supports the development of decentralized finance applications. DeFi projects on the Tron network offer the ability for users to participate in lending, borrowing, and related activities.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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