TRON is a blockchain-based protocol that aims to construct an entertainment system where users can freely enjoy content with little cost. Their distributed storage technology allows for more rapid transfers between computers in different regions, making it possible faster speeds of access and distribution within countries and globally.
This article will explore what you ought to know about TRON – how it works, its social structure, token creation, the TRON ecosystem, and more!
How does TRON work?
The TRON Network is a decentralized Internet that offers scalable, high-availability, and high throughput support. The system underlying all dApps in the network is called “TRON Protocol” to provide better compatibility for Ethereum smart contracts through its innovative pluggable Smart Contract Platforms.
TRON’s salient features include the following:
- Free content entertainment system
- High-quality, scalable parallel network (TPOS)
- Full developer support with SDK for rapid deployment of DApps on TRON
How to Buy TRX Coins?
Currently, TRON has its native TRX coin. There are a few ways you can get your hands on some
1) You can purchase directly from exchanges such as Liqui and Binance.
2) You can buy them using yuan or another fiat currency through platforms such as Cex.io and Bit-Z.
3) If you already have cryptocurrencies like Bitcoin or Ether, you can trade them for TRX coins on exchanges.
4) You can even earn some TRON coins by participating in contests and games on the platform’s Dapp store.
How to use the TRX token?
You can use TRX tokens to vote for the super representative candidates, as a medium of exchange for digital content purchases, or as an investment in a Dapp project. Again, the TRON protocol has its own network independent of the TRX token. In essence, TRX tokens can be easily transferred between different accounts with extremely low fees. This is possible because they are hosted on a blockchain and decentralized platform.
History of TRON (TRX)
TRON’s Initial Coin Offering (ICO) took place from August 31st to September 2nd, 2017. Its total fundraising was worth $70 million, and it sold 9.53 billion TRX coins to supporters all over the world who wanted to make TRON a success story like Ethereum before it. So far, TRON has had 1 upgrade, which was on March 31st, 2018.
The social structure of TRON
The TRON community comprises 27 members, or so called “Super Representatives”, who build a free content entertainment system with the blockchain and distributed storage technology. The team members are from different countries such as the United States, Australia, Singapore, Germany, and Egypt.
Token creation on TRON
On September 13th, 2017, TRON acquired Bit Torrent. In addition to working on other protocols and projects, Bit Torrent will also work on developing TRON Protocol and its applications. This acquisition marks the beginning of a new era for TRON.
The TRON project has witnessed widespread adoption in an extremely short time – even before its MainNet launch. There are over a hundred million TRON users spread across more than 100 countries. TRON’s major partners include Peiwo, Obike, Gifto, Uplive, CoinPlay, and Matchpool.
The TRON project has witnessed widespread adoption in an extremely short time – even before its MainNet launch. There are over a hundred million TRX users spread across more than 100 countries. TRON’s major partners include Peiwo, Obike, Gifto, Uplive, CoinPlay, and Matchpool. This is just the beginning of what will undoubtedly be one of the largest blockchain-based platforms for decentralized applications to date! If you want to get on board with this next-generation technology, now is the time to buy TRX coins!
TRON (TRX) FAQ’s
What is TRON’s overall architecture?
TRON is a decentralized content-based protocol that aims to establish a truly autonomous global free content entertainment system with the blockchain and distributed storage technology.
Can I make TRX transactions on the Ethereum network?
Yes, you can! With TRX20 standard, Tronix can be stored in any ERC20 compatible wallets such as MyEtherWallet and can be transferred to third-party platforms that support TRX20 standard, such as ChaoEx.
What is the total supply of TRX coins?
There will never be more than 100 billion TRX coins. The number of TRX coins in circulation was 72 Billion TRX coins when this article was written.
What is TRON’s MainNet?
Tron’s MainNet has already launched after its successful TestNet launch in the first quarter of 2018. This will allow developers to deploy DApps on Tron’s blockchain and create tokens without using Ethereum or other existing blockchains.
Why do we have to migrate our TRX through an exchange? Aren’t there other ways?
It is because of the coin burn! TRX20 is Tron’s official token standard. The core of TRON’s MainNet is to establish an entertainment-focused blockchain ecosystem with its native currency, TRX.
Why is TRON’s network based on DPOS?
TRON employs a Delegated Proof-of-Stake (DPOS) consensus that is environmentally friendly and allows anyone with TRX to participate in the network’s maintenance.
What are the benefits of DPOS?
The design means every token holder can vote for mainnet nodes called Super Representatives, responsible for validating transactions, producing new blocks, and competing for rewards. It’s a simplified way to govern and maintain a token-based community, thereby avoiding the complex algorithms used by other networks like Bitcoin and Ethereum.
Can I mine Tron?
No, TRON’s consensus mechanism is based on DPOS – Delegated Proof-of-Stake. Therefore, token holders can vote for mainnet nodes called Super Representatives, who are then responsible for validating transactions, producing new blocks, and competing for rewards.
What are the benefits of TRX compared to other cryptocurrencies?
One of the benefits of TRX, and all tokens on the Tron network, is publishing, storing, and owning data freely. Content producers can retain or sell their own data and also get paid directly without any third-party intermediary. What’s more: these transactions are done instantly at virtually no cost!
What is TRX certification?
TRX certification is adhering to the TRON blockchain that benefits all members of this new decentralized entertainment ecosystem. Anyone can achieve TRX certification by applying for it through an online form.