What is TRX?
Launched in 2017, Tron was created to help digital content creators gain full ownership of their content and its rewards. Tron eliminates centralized intermediaries and allows content creators to invite their audience directly to enjoy and reward them for their content.
Also, Tron offers a blockchain platform where users can build dApps, offer content, and receive rewards in digital assets. The platform also permits content creators to create their tokens which can be deployed to their dApps. Thus, they could choose to accept their rewards in their created tokens. The Tron network also features decentralized games where players can reward creators directly with TRX and other digital assets.
Aside from the autonomy that Tron offers, it also provides speedy transactions to users. The Tron network can handle up to 2,000 transactions per second. To put this into perspective: Bitcoin processes 6 transactions per second, while Ethereum handles 25. Tron’s speed is made possible through its consensus mechanism known as the delegated proof-of-stake (dPoS). The mechanism secures the network and enables Tron to process many transactions at no cost.
TRX is the native token of the network. It is a symbol of Tron’s knack for autonomy: TRX was initially an ERC-20 token on the Ethereum network but was later moved to its own network. The token has a total supply of more than 100 billion tokens, with 92.25 billion already in circulation.
As of press time, TRX traded at $0.06252 and had a market cap of over $5 billion.
Initially, Tron was planned as a system that will help the creators of digital content to be rewarded for their work without intermediaries like Youtube, Vimeo, or Facebook. The idea was to invite the audience to reward the creators directly.
Tron was envisioned and founded as an innovative solution for the pressing scalability challenges that networks like Ethereum and Bitcoin were facing. In July 2017 Tron Foundation was established in Singapore, in December 2017 its open-source protocol was published, and less than a year later the Tron testnet was launched in May 2018. In 2 months, Tron launched it’s Mainnet Odissey 2.0 and finally went live in July 2018.
Importance of TRX
The founder of Tron is Justin Sun, who is now the CEO of the project. He was included in the ‘30 under 30’ list of entrepreneurs by Forbes Asia. He was also associated with Ripple — serving as a representative of the project in the Greater China area.
In recent years, the Tron network has gained significant traction with over 101 million users on the blockchain and over 3 million transactions. It also holds the biggest supply of stablecoin, overtaking the number of USDT on the Ethereum network. In December 2021 the network completed full decentralization and is now completely governed by the community through its DAO.
The software of Tron supports smart contracts and different kinds of blockchain systems and decentralized applications. It uses the UTXO transaction model, where all the transactions happen in a public ledger and all the participants of the network can track the history of the operations.
The ecosystem of Tron consists of three layers:
- Storage Layer that segments all kinds of ecosystem data such as blockchain state, transactions history, etc.
- Application Layer that is utilized by the developers to create decentralized applications, wallets, and other products;
- The core layer processes the instructions written in Java or Solidity programming languages and then sends them to the Tron Virtual Machine that executes the dApps.
The Tron network uses delegated Proof-of-Stake consensus, which provides Tron with higher efficiency and throughput. The users can stake their tokens to get Tron Power and be able to vote for the representatives who validate and add new blocks. The Tron blockchain can process more transactions; according to the development team it can process up to 2000 per second. Moreover, there are no fees on the network.
The content creators on the Tron network are rewarded with TRX tokens. They can also deploy their own tokens and use them in their own developed decentralized applications. Additionally, the network hosts decentralized games, where the players can engage with the creators. Tron is one of the most popular blockchains to develop decentralized applications.
TRX is the native token of the TRON blockchain. Originally the coin was launched as ERC-20 on the Ethereum network, but once the project went on its mainnet the assets were moved to their own blockchain. The total supply of TRX is a little more than 92 billion and all of them are in circulation. Interestingly, 45% of the supply went to the founder and the projects, while the other 55% was distributed among investors.
Where to Find the Best Tron (TRX) Prices
Although price-tracking websites (such as Coinmarketcap) and crypto exchanges provide the market price of TRX in real-time, the best place to find the best TRX prices is an exchange aggregator like Swapzone. The platform offers users the opportunity to compare TRX prices and exchange rates across different crypto exchanges. This allows users to make informed and profitable trading decisions.
How much does TRON cost to buy?
How to Swap Tron Crypto
You can exchange Tron through different centralized (e.g. Binance, Coinbase, etc.) and decentralized exchanges (e.g. Swapzone). On an exchange aggregator like Swapzone, users can access useful tools and exchange rates from multiple exchanges necessary for the swap. All they have to do is to:
- On Swapzone, go to the swap page.
- Select the appropriate Tron (TRX) pair to see the exchange rates.
- Select the exchange.
- Proceed with the swap.
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