Tron is an incredibly exciting project for all those who are interested in media and entertainment. Imagine the platform that combines both Youtube and Netflix (or any other favorite streaming service) being decentralized. That’s what Tron project is about.
Tron (TRX) is a decentralized, open-sourced cryptocurrency project established by Justin Sun in 2017. The network has its own blockchain launched in 2018. Previously Tron crypto was based on Ethereum blockchain. The developers’ main aim is to make the network as useful as possible for users who are tired of platforms framed with ads all over the place.
Tron (TRX) allows developers to create smart contracts and decentralized application within the ecosystem. In this article, we are going to explain all the ins and outs of what Tron coin actually means.
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Tron (TRX) Value
Tron cryptocurrency is a very thought-out type of digital money. The currency is divided into three parts, differing in their value:
- TRONIX (TRX) is used for trading on exchange platforms. In essence, this is the currency you need to have in order to start using the platform.
- TRON Power is a cryptocurrency, designed to pay various rewards. This currency gives the right to vote within the system.
- TRON 20 is used for running decentralized applications, as well as personal tokens within the system.
Tron cryptocurrency takes 10th place in the cryptocurrency market capitalization rating ーit’s nearly 2.3 billion US dollars. 📉 The lowest price Tron was tested on 15, September 2017 ー $0.001091 USD. 📈 The highest (Jan 05, 2018) ー $0.300363 USD. Now the price is stable, and the coin is trading at about $0.034.
🗒️ You can check out the price-list formation and more details about the coin on BitcoinWiki.org.
Tron (TRX) Blockchain Review
The platform’s main idea is to create and spread all types of data: texts, images, videos, and audio. This content is spreading by putting it in the blockchain and the creators ー on the network of peers, excluding the middlemen.
In early days, Tron was ERC20 standard tokens used Ethereum blockchain. On 25th June 2018, Tron launched its MainNet. At the same time, the first Coin Burn was held, which reduce the number of coins for 1 billion.
There are some particular qualities of Tron Blockchain:
- The Tron blockchain uses DPoS consensus mechanism. The block is generating every 3 seconds, with each reward of 32 TRX.
- The blockchain is implemented by the peer-to-peer network, bypassing the third party.
- Tron architecture consists of 3 layers: a storage layer, a core layer, and an application layer.
- Tron protocol is defined by Google Protocol Buffers, which is an extensible way for data storage.
More technical details can be found in Tron Whitepaper v2.0.
The team has developed a powerful plan for the future, explaining all aspects of its future work. The following roadmap consists of the name and the highlights of the description.
- Exodus. Launching the mainnet.
- Odyssey. Advancing the project’s economic inducements and stimulates growth.
- Great Voyage. Launching of ICO for developers. Users will be able to create their own tokens.
- Apollo. Building a fully decentralized token trading platform.
- Star Trek. Developing the game platform for users to create games. TRX’s becoming a gaming coin.
- Eternity. The last stage of Tron development. Becoming of decentralized blockchain-based gaming platform.
Tron Latest News
Recently, the TRX price began to fall amid recent scandal-related events. According to the latest information, protesting people came to the TRON office in Beijing, who most likely suffered as a result of the massive fraudulent scheme of the Wave Field Super Community, the losses from which are already estimated at $30 million.
The project was covered by the TRON brand and even announced cooperation, and official representatives of the Tron Foundation have not refuted these rumors for a long time.
Later, Justin Sun announced that the Tron Foundation has nothing to do with this scam project and promised that the project representatives are ready to help the police catch the criminals.
Tron (TRX) Wallets
For storage of TRX, you can use quite a wide range of wallets: hot and cold. First and foremost, the wallet has to be compatible with the TRX cryptocurrency. There is definitely something to choose from here.. Let’s explore the best options to store Tron.
- Tron Wallet is a secure peer-to-peer crypto wallet and exchange for TRX. Available for Chrome, iOS, and Android. It’s easy to install and use. All of the details are encrypted with a password and 24-symbol phrase.
- Cobo Wallet is a mobile multicurrency wallet. This wallet is incredibly user-friendly with its easy interface and setup process. Tron, Bitcoin, Ethereum, Litecoin, EOS, Dash and are supported.
You can also store and trade you Tron coins in Huobi Wallet, Trust Wallet, Atomic Wallet, Exodus, Gate.io, etc. You can use a cold wallet Ledger Nano S which provides secure offline storage of your savings.
Where to trade Tron (TRX)?
It’s easy to exchange TRX coin due to a big number of platforms accepting this cryptocurrency.
Buy Tron (TRX) at Changelly
Changelly platform offers you a way to buy TRX with your banking card swiftly, safely, and with minimal authentication procedure. The fiat payment process is powered by our partner Indacoin and takes just a few simple steps to take.
Investing in Tron isn’t just a waste of money or, on the contrary, make a fortune. It’s about developing the future of media sources and making a new step towards improving cryptocurrency and decentralized apps.
The project has a strong team, credible partnerships (which are software provider Baofeng, Chinese Netflix; oBike, bike-sharing in Singapore), and grand plans that are coming true from day to day.
Tron’s CEO Justin Sun in his late 20s has a great variety of experience that helps him to create a massive project with a good reputation.
Disclaimer: This article about Tron (TRX) should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.