Tron Cryptocurrency: A Beginners Guide to TRX
What is Tron (TRX)?
Tron is a decentralized content entertainment protocol based on blockchain technology. It was founded by a Singapore based non-profit organization called the Tron Foundation. It is headed by CEO Justin Sun and has a dedicated in-house development team that helps with the progress of the project. The Tron mainnet went live in May 2018 and since then it has experienced a steady growth.
In simple terms, Tron was developed to bring about decentralization of the internet through its content sharing platform. It provides users with greater freedom and control over their content. It also facilitates faster transactions with low transaction fees.
It aims to eliminate the middlemen from the entertainment industry such as Google Play Store and Apple’s App Store and empower the content creators by allowing them to publish, store and own data for free. The platform allows creators of digital assets such as videos, images, etc to freely distribute their content without having to pay hefty fees to third party service providers like Google or Apple.
Tron cryptocurrency: A Beginners Guide to TRX
Tron is a decentralized blockchain based platform to create, store and execute smart contracts. The Tron Foundation is a non-profit organization based out of Singapore. It was created with the vision of allowing content creators to get paid for their work directly by the consumers. Essentially, Tron is a global entertainment content sharing platform that allows creators to freely publish, store and own their data while they are allowed to decide how they want to share it and get paid for it.
It runs on its native cryptocurrency called Tronix (TRX). It uses peer-to-peer technology and allows the network users to interact with each other using smart contracts. Built on the Ethereum blockchain protocol, it provides a high throughput computing environment without depending on any third parties or centralized servers.
The Tron Foundation was established in 2017 by CEO Justin Sun and their team consists of over 100 people from various companies like Alibaba, Tencent, and Baidu. They also have partnerships with big names like Baofeng, Gifto and Game.com. They raised $70 million in their ICO which was one of the biggest ICO’s in 2017 and reached a market cap of $16 billion in January 2018
Tron cryptocurrency is one of the most talked about cryptocurrencies of 2018. Since June 2017, the value of Tron has risen by 2800%. By the end of 2017, TRX was valued at $0.0019 per coin. However, in January 2018 it reached a high of $0.30 – making it one of the best performers in crypto-markets.
So, what is Tron? Why is there so much hype around the Tron network? And how do you go about investing in TRX?
Tron is a cryptocurrency created by the Tron Foundation, which was founded in September 2017 by Chinese entrepreneur and philanthropist Justin Sun. It aims to be a platform for creating decentralized content-sharing apps based on the Ethereum blockchain.
Tron has enjoyed a meteoric rise in value since its inception and reached an all-time high of $0.30 in January 2018. Its market capitalization is currently over $15 billion, making it one of the top 10 cryptocurrencies in the world, according to CoinMarketCap.
However, it has been on a downward trend since then and is now hovering at around $0.05 per coin. That’s still up from its all-time low of $0.02 per coin in March 2019, but down from its all-time high of $0.30 per coin in January 2018.
TRON is the first cryptocurrency built on top of the Ethereum blockchain as a standard ERC20 token to have 10 million wallet users. TRON’s purpose is to be an open source platform for the global digital entertainment industry by providing functions of payment, development, storage and credit sharing.
TRON was founded in 2017 by a Singapore based non-profit organization called the Tron Foundation. The TRON protocol represents the architecture of an operating system based on the blockchain which could enable developers to create smart contracts and decentralized applications, freely publish, own and store data and other content.
The Tronix (TRX) coin is the official currency of TRON which derives its value from the demand for Tether. The current circulation of TRX is over 65 billion out of a total supply of 100 billion tokens.
What is the Tron cryptocurrency?
TRON is a blockchain-based, open-source protocol for the global digital entertainment industry. TRON supports various kinds of blockchain networks and smart contract systems, including bitcoin, Ethereum, EOS, Qtum, and other public blockchain smart contracts, provides developers with multiprotocol infrastructure for entertainment app development, and allows users to enjoy smooth multiprotocol smart networks.
Tron was founded by a Singapore based non-profit organization called the Tron Foundation. The project team initially received support from investors including Ripple co-founder Jed McCaleb and Alibaba’s Jack Ma. In June 2018 Tron completed its mainnet launch which it refers to as Independence Day and migrated to an independent public blockchain. Its native cryptocurrency is called Tronix (TRX).
The TRON Protocol represents the architecture of an operating system based on the blockchain which could enable developers to create smart contracts and decentralized applications, freely publish, own, and store data and other content. According to the official white paper “the ecosystem surrounding this network specializes in offering massive scalability and consistent reliability capable of processing transactions at a high rate via high-throughput computing.”
The TRON network is a decentralized environment that allows its users to freely publish, store, and own data. It also enables content creators by releasing, circulating, and dealing with digital assets by means of blockchain technology as well as distributed storage technology. The network also uses a peer-to-peer network for the distribution of digital content.
TRON was founded by Justin Sun in September 2017 and has since then grown to be one of the largest blockchain based operating systems in the world. TRON is aiming to build a free content entertainment system on the blockchain platform. TRX is Tronix, which is the official currency of TRON. The platform was developed to serve as a global entertainment content sharing platform that uses both distributed storage technologies and blockchain networks.
TRONIX (TRX) is being offered as an ICO token by TRON, with a total supply of 100 billion coins. The cryptocurrency uses proof-of-stake consensus algorithm which allows it to make transactions using Delegated Proof of Stake (DPoS). This makes it possible for someone else to verify transactions on your behalf while you are away or when your computer is turned off.