June 14, 2021

What is Tron (TRX)? Overview of cryptocurrency features

What is Tron (TRX)? Overview of cryptocurrency features

Everything you need to know about Tron Coin (TRX), one of the most popular crypto assets.

TRX coin is a crypto asset, which runs on the Tron blockchain. As with Ethereum, Tron allows developers to create decentralized applications (Dapps) that can run without intermediaries thanks to smart contracts.

As a platform for smart contracts, Tron can boast of some impressive features, such as high scalability (the ability to process multiple transactions at the same time) and the ability to code using languages such as Java.

When it comes to scalability, the Tron team claims that TRX processes 2000 transactions per second (tps).

Other uses for TRX include, but are not limited to the following:

  • Get a free Bittorrent token to store Tron in a wallet that supportsit's, for example, Exodus Tron
  • Obtaining voting rights to govern the Tron network
  • Tron-based TRC10 and TRC20 Token Issue
  • Shopping on WeChat Stores

History of the Tron coin

Tron was founded in March 2014 by Justin Sun. The Tron Foundation was established in Singapore in July 2017.

Initially, the project was focused on the entertainment industry and was aimed at a direct link between creators and consumers of content.Moreover, Tron (TRX) was originally an ERC20 token, as it was previously based on the Ethereum blockchain.In June 2018, Tron launched its own blockchain as part of an event known as Tron Independence Day.

In July 2018, Tron acquired the BitTorrent service used to distribute data and files over the Internet.

Burning TRX Coins

After switching from Ethereum to its own network, ERC20 TRX tokens were sent to an unusable address.

In addition to burning old ERC20 tokens, Tron also burned 1 billion TRX on Tron's Independence Day. What's more, commissions for every Tron transaction are burned as well.

This Tron Coin Burn is intended to help control inflation and reward token holders.

ICO Tron Coin

The developers ran an ICO to fund the initial development. The ICO took place during a massive cryptocurrency craze in 2017, and the Tron team managed to raise $ 70 million.

During the ICO, one TRX token was valued at US$0.00186, which brought great profits to investors.At the beginning of January 2018, the price of one TRX token was US$0.264190, which means that within a few months ICO investors received 14,203.76% return on investment.

Tron Coin Team

Having become one of the most popular cryptoassets, Tron also has a sizable team with two headquarters in Asia and America.

No mention of the Tron team would becomplete without Tron founder and CEO Justin Sun. Sun is very active on social media and is known for actively promoting Tron and its products such as BitTorrent.

How to buy Tron Coin (TRX)?

You can use centralized exchanges like Coinbase, Kraken, and Bitstamp to buy cryptocurrency with fiat money.

Another popular way to get cryptocurrency for free is through faucets. One such Tron faucet, Crypto Faucet (also supports other crypto assets).

Where to store Tron Coin

The official TronLink wallet, only supports Tron tokens.

If you need more functionality, the Exodus Tron wallet might be a good choice. The main advantages of Exodus Tron:

1. Support for TRX and over 100 other crypto assets.

2. Support for computers and mobile devices.

3. The ability to exchange for other cryptocurrencies directly from the wallet.

4. Synchronization of TRX on desktop and mobile device.

5. 24/7, fast support service.

Tron emission

The total number of TRXs is 99,281,283,754 TRX.

At the moment, the market capitalization of the coin is $ 1,791,553,041. The cost of 1 token is $ 0.025001, the total supply on the market is 100,850,743,812 TRX.

The technology and personnel behind Tron are notare of particular concern. So far, the coin has not shown explosive popularity, but experts are leaning towards its stable future and profitable long-term prospects.

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