Tron is a blockchain-based decentralized digital platform with its own cryptocurrency, called Tronix or TRX. Founded in 2017 by a Singapore non-profit organization, the Tron Foundation, Tron aims to host a global entertainment system for the cost-effective sharing of digital content.
Initially marketed primarily in Asia, Tron had now gone global. The platform had more than 50 million accounts as of August 2021.
Founded by Justin Sun, now its CEO, Tron has offices in Singapore and San Francisco. Born in 1990, Sun also is the CEO of BitTorrent, the file-sharing program.
Tron is a blockchain-based digital platform that primarily hosts entertainment applications.
It has its own in-house cryptocurrency, called Tronix or TRX.
TRX ranks 31st among cryptocurrencies in market capitalization.
Tron uses the features of the blockchain and peer-to-peer (P2P) network technology to eliminate the middleman and allow content creators to sell their work directly to consumers. Software developers use the Solidity programming language to create apps that are hosted on the Tron platform.
The currency used on the network is Tronix, or TRX. Users of the network use TRX to directly pay the content creators toaccess their applications. Content creators do not pay a transaction fee to Tron. (TRX transactions also are free on the platform.)
Users can store their crypto-assets in a desktop, mobile, or hardware wallet.
Tron and the Ethereum Blockchain
The Tron network structure has been compared to that of the Ethereum platform, and it uses some of the same basic building blocks, such as decentralized applications (dApps), smart contracts, and tokens. In fact, it has been criticized for perhaps "going too far" by borrowing rather than building the basics of its platform.
There are signs that Tronix and Ethereum are becoming competitors for the business of cryptocurrency traders. The supply of USD Coin, a cryptocurrency tied to the U.S. Dollar, circulating on Tron surpassed $108 million less than a month after support for it launched.
That "could be another sign that crypto traders are increasingly turning to blockchains that provide cheaper transaction fees with faster speed than what's found on Ethereum," Coindesk reported in July 2021.
As of Aug. 5, 2021, TRX ranked 31st among cryptocurrencies in market capitalization, according to CoinRanking.com. Its price was $0.0705, giving it a market capitalization of $4.66 billion. Its all-time high on that date was $0.2180.
The Potential of Tron
Tron was created as a direct challenge to the media industry, including the web-based giants like Amazon and Netflix. Its slogan is "Decentralize the Web" and its aim is to eject the corporate middleman from the process of consuming media.
Beyond the current cryptocurrency boom, surely its future success depends at least in part on the quality of the programming it brings to its users.
Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein.
A blockchain is a decentralized, distributed, and often public, digital ledger consisting of records called blocks that are used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks.
to operate a global system of content. The token, TRX, is used to pay content creators and share their content on the platform. Unlike traditional social media platforms, Tron uses permissionless tools and protocols to deliver content to users.
Tron is a blockchain-based digital platform that primarily hosts entertainment applications. It has its own in-house cryptocurrency, called Tronix or TRX. TRX ranks 10th among cryptocurrencies in market capitalization.
Tron is a decentralized blockchain-based network with a native cryptocurrency, Tronix or TRX. Justin Sun created Tron in 2017, first as an ERC20 token on the Ethereum network.
TRON is structured as a three-layered system consisting of a core layer, storage layer, and application layer, each of which are optimized for a specific set of functionalities. The core layer performs multiple fundamental tasks that make up the foundation of the blockchain's underlying protocol.
Several notable advantages are associated with the TRON blockchain, such as its high transaction throughput, minimal transaction costs, and the presence of a robust developer community.
The current annual yield on Tron is around 5%, minus the Super Representatives' fees. The staking rewards you'll receive will depend on the Super Representative (SR) you vote for. You can claim your rewards every 24 hours or receive them directly on your account depending on the SR.
So, just to be clear, the best way to earn TRX coins in a legit manner is to join Peer2Profit or to join GPT sites that will reward you with Bitcoin or Ethereum (or any crypto, for that matter).
Network Consensus: TRON currently employs a delegated proof-of-stake (DPoS) consensus mechanism, where a limited number of trusted block producers validate transactions and secure the network. This consensus mechanism aims to ensure the integrity of the blockchain .
Tron's TRX is available on Ethereum (ETH) after leveraging BitTorrent (BTT) Bridge to gain access to the largest decentralized finance (DeFi) ecosystem in the industry.
Tron is a Layer-1 blockchain network that aims to provide a frictionless and accessible decentralized internet for the masses. Like most blockchains, Tron features an account-based structure, meaning anyone can create a wallet and store their digital assets on a public ledger.
Like many other digital currencies, TRX coin transactions occur on a public ledger. On this public ledger, the history of each transaction can be traced all the way back to the first transaction.
Much of Tron's appeal lies in its speed and its dirt cheap transaction fees. The TRON network can process 2,000 transactions per second, and fees can be as low as $0.000005.
In return for staking their coins, participants may receive staking yield, which can be likened to interest in a traditional banking setup. Staking offers a way to earn passive income from holding cryptocurrency, and it's a key feature of many modern blockchain networks.
Tron uses blockchain technology to operate a global system of content. The token, TRX, is used to pay content creators and share their content on the platform. Unlike traditional social media platforms, Tron uses permissionless tools and protocols to deliver content to users.
According to our Tron price prediction, TRX price is expected to have a -8.47% decrease and drop as low as by September 22, 2023. Our analysis of the technical indicators suggests that the current market feeling is Bullish Bearish 15%, with a Fear & Greed Index score of 47 (Neutral).
The price of Tron is so low because the circulating supply is high and its price depends on the supply side. To put it simply, the more the supply is, the less the price will be.
Introduction: My name is Pres. Lawanda Wiegand, I am a inquisitive, helpful, glamorous, cheerful, open, clever, innocent person who loves writing and wants to share my knowledge and understanding with you.
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