TRON is a blockchain and a decentralized virtual platform with a native cryptocurrency TRX or Tronix. Designed technically almost similar to Ethereum, TRON aims to create a free, decentralized global digital content entertainment system with the use of distributed storage technology.
Observers say: TRON produces a digital environment that is a semblance of a social networking platform, only it runs on a blockchain.
For developers, TRON can be used to promote their products which makes it a decentralized alternative to AppStore and Google Play.
Tronix (TRX) is by consumers to pay for the digital content they want to purchase or access. These TRX coins would then be stored in the content producers’ accounts, where they can option to exchange with other cryptocurrencies, or used to pay for other blockchain services.
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History of Tron
Justin Sun—a tech entrepreneur—founded TRON in 2017. Known as TRON Foundation, it raised more than $70 million in 2017 via an IPO (initial coin offering) before China disallowed digital tokens.
In 2018, TRON transitioned to an independent peer-to-peer network from an ERC-20 token and Ethereum.
By 2019, TRON reached a market capitalization of over $1.6 billion.
Cryptocurrencies on the TRON network
The native coin of the TRON platform is TRX (TRONIX). This token is used to pay block creators and as internal payments. TRX has a current limit of 100 billion coins. Other than the TRX, there other sub TRX coins you can use in the network.
- TRON20: This coin allows developers to develop their own coins inside a TRON platform game.
- TRON Power: Users who holds this can are allowed to join a development team of a crypto project. This token is used for voting.
Main High Points of TRON (TRX)
- The TRON platform provides a decentralized platform for digital media sharing by ridding intermediaries. Therefore, it gives creators a path to share their creations to consumers directly. All creator data are secured in the TRON blockchain.
- TRON has one of the most transparent cryptocurrency platforms in the world today. The crypto community is always bombarded with timely updates by its social media team and even its founder Justin Sun, thus making it easy for anyone to keep tab with the development of the platform.
- The future development plans of TRON looks promising especially its next two stages, called Great Voyage (2020) and Apollo (mid-2021). This early, creators are seeing the TRON platform as a great space to create, monetize creations and build brands—aside from the possibility for developers to also issue their own tokens and initial coin offerings.
- TRON's entertainment content market is expanding. This continued improvement will only mean that TRON's crypto TRX will also continue to have a bright future as the platforms harness its use in a number of areas: social network, payments, online casinos and more.
- TRON has fast processing time. The TRON Platform can process up to 2,000 transactions per second making it at-par with popular payment systems such as PayPal. TRON has also ZERO transaction fees even if you send a million dollars equivalent of TRX, you don't have to pay any fee.
What Does TRX Do?
As the official token of the TRON network, the Tronix (TRX) acts as the basic currency on the platform that users can use to pay for in exchange of a wide range of platform products.
TRX also functions as the TRON platform's exchange currency. TRON allows decentralized application (DApp) creators to also launch their own digital coins.
With a cap of 100 billion coins, TRX has reached a circulation of 65.7 billion in 2018.
How to Buy TRX?
The simplest way to buy TRX is to sign up for an account with a cryptocurrency or trading broker that supports the direct BUY and SELL of TRX. One such cryptocurrency and trading broker is eToro.
The eToro is a great place to start since it offers a straightforward interface that allows for a seamless trading by clicking of a few buttons.
How to Trade TRX on eToro?
- On your eToro dashboard, click "Trade Markets".
- Select "Crypto".
- Scroll down to look for "TRX".
- Click "Buy" and set the amount you want to invest.
- "Click "Open Trade".
TRX on the Market
Currently, TRON's Tronix (TRX) is listed on more than 130 exchanges in the world, making it as one of the most sought-after cryptos.
Investing on TRON (TRX)
Remember that investing in cryptocurrency attracts a volatile risk where you can cash in on extreme increase in its value or experience loss when its price dwindles down. Researching about a particular crypto is still the key.
That said, the future of TRON appears bright thanks to its long-term plans and "date-tagged milestones" where they penciled release dates of new technology to improve its network. With the increasing demand in digital content and how TRON is making these available at a lower cost, the blockchain space of TRON keeps on becoming more attractive.
Interested now to trade TRON? Get started here.
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