TRX (TRON) is a blockchain-based decentralized operating system with high throughput; high scalability, and high availability. It was founded by Justin Sun in September 2017 and is consistently ranked among the top 10 – 15 cryptocurrencies in terms of market capitalization. So, let’s get to know more details about TRX.
What is TRX (Tron)?
Tron is a decentralized entertainment and content-sharing platform that uses blockchain; and peer-to-peer (P2P) technology.
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Who created Tron?
Tron was created by entrepreneur Sun Yuchen (Justin Sun); a two-time recipient of Forbes’ “30-Under-30” award in Asia, in early 2017.
An established presence in China, Sun had earlier founded the audio content application Peiwo; and served in 2015 as a representative for Ripple, the for-profit company that stewards the XRP cryptocurrency; before founding the Tron Foundation that year.
Sun’s business background succeeded in attracting early interest from investors including Clash of Kings founder Tang Binsen; and CEO of bike-sharing startup OFO Dai Wei, among others.
These supporters, in turn, boosted the visibility of the project’s September ICO; which raised millions in cryptocurrency from the public using a token on the Ethereum blockchain.
A second version of the white paper further outlining Tron’s technology was released in 2018.
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Purposes of TRX (TRON)
The purpose of creating Tron is to build a global system of free entertainment content; thanks to blockchain technology and distributed storage.
TRON helps developers create smart contracts; and decentralized applications, freely publish, own, and store data,…
How to buy TRX (TRON) ?
Step 1: Choose a Tron Wallet TRX used to be an ERC-20 token; which means that it was stored in Ethereum wallets. Today Tron has its own blockchain with dedicated wallets. You can choose one of some wallets such as Tron paper wallet, Ledger, Exodus,…
Step 2: Buy Tron on exchanges: Binance, Cex.io, Bittrex,
Step 3: Withdraw the TRX to your waller
Storing your Tron tokens on a cryptocurrency exchange isn’t recommended. Because exchanges can be hacked or even shut down. Even smaller issues such as scheduled maintenance can prove problematic.
Once you found your exchange, signed up, and made the trade; make sure to withdraw the TRX to the Tron address you got on step 1. With so many hacks and exchange failures that happened in the past; you’ll want to make sure you’re the only one who has control over your coins.
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How is Tron different from Ethereum?
There is a handful of competing blockchain projects with smart contract functionality; and app-building capabilities such as Ethereum (ETH), Tron (TRX), EOS (EOS), Cardano (ADA), Tezos (XTZ), Stellar (XLM), Neo (NEO); and many more.
All of these projects are essentially rivals to one another; and have various similarities and differences but for the remainder of this section; we’ll focus on Tron and Ethereum.
Alt: How is Tron different from Ethereum
How can TRX (TRON) be used?
The biggest benefit of using Tron crypto is that you are empowering artists and content creators all over the world into having ownership over the content they create.
Tron is leading a movement that some refer to as the third web. Although it sounds futuristic, the third web, or web 3.0, will enable people to use the internet as it was originally intended to be used for – as a decentralized, open network.
During the dot-com bubble, the internet had taken a turn away from its decentralized origin. Social media giants in Silicon Valley built on top of the infrastructure that was given to them and rewired it so that Tech Giants could make money from user data. Cambridge Analytica is the case and point of this system. However, in the Third Web, Tron will put the power back in the users’ hands, so that they are in control of their own data.
By using Tron crypto, you are leading the internet back down its original path. You are putting data back under your control where you have the choice of not disclosing or monetizing data for your own gain. So one of the answers to what is a Tron coin is something that will lead the internet back to its original purpose.
From a developer’s standpoint, Tron is also special because it’s currently being built in a way that allows the use of any high-level language for smart contracts. This means developers in the future will be able to use whichever programming language they prefer to build on top of the open-software design.
One of the biggest products developed on Tron thus far is crypto puppies. Just after crypto kitties were first released, Tron attempted to play off the upcoming Chinese year of the dog. Tron dogs are still selling for the equivalent of $18. This is just one of many examples of successful products on the network.
