Tron Cryptocurrency (TRX): Everything You Need to Know

Tron Cryptocurrency (TRX): Everything You Need to Know

The cryptocurrency we are going to present to you today is one of the top 30 crypto projects by market capitalization, and its name is TRON. To give you an understanding of what this project is and what idea the developers put into it, we will break down the key points about TRON.

 

About the Tron platform

TRON is a blockchain-based, decentralized entertainment platform with an internal Tronix token (TRX). In other words, TRON is something similar to a social network, where users can safely post, watch and use content for entertainment. For developers, TRON platform provides an opportunity to promote their games and applications, acting as an analogue of AppStore and Google Play.

 

About the Tronix token (TRX)

The TRON platform uses several types of cryptocurrencies, including its own TRONIX token (TRX). In addition to TRX, Bitcoin, Qtum and Ethereum coins are the means of payment on the platform.

TRX is the platform's base token, but there are also other "native" tokens: TRON Power and TRON20 protocol tokens. TRON Power is a token that gives the holder the right to vote on the development of the network. TRON20 is a protocol that allows the holder, the application developer, to issue tokens for their own game within the TRON network. The maximum possible number of TRX tokens is 100,000,000,000.

 

TRON platform developers

The developers of the TRON platform are the TRON Foundation, whose founders are British citizen Sir Tim Berners-Lee and Justin Sun. The latter, according to Forbes magazine, is considered the man who can equal the founder of Alibaba. More information about the team and the platform's investors can be found at tronlab.com, which is available in English.

 

Where to buy TRX cryptocurrency

TRX tokens can be purchased on the Binance, Gate.io, Liqui, Crypto.com and Gatecoin exchanges. At the time of writing, the value per token is $0.066.

 

Prospects for Tron cryptocurrency

The digital entertainment market is estimated to be around $1 trillion, of which online games account for the majority. The Tron platform can compare in volume to such a company as Alibaba, which is the world leader in online commerce. Since the majority of Tron investors are from China, then there is no doubt that this platform will be very popular there.

 

How can I use Tron coins?

  • Creating dApps: TRX coin can be used to create and interact with dApps.
  • Content access: Content consumers can pay to view the content they want with Tron cryptocurrency.
  • Trading: Traders can exchange Tron coin for other digital currencies on any cryptocurrency exchange.

 

Conclusion

Let's consolidate the material once again about the interesting blockchain project Tron.

Tron was founded in 2017 by the famous developer Justin Sun, who is a member of the Forbes list under 30 years old. This project is based on blockchain technology, which means it can safely be called a decentralized open-source platform. The idea behind TRON is to create an entertainment ecosystem in which media files would be freely distributed.

Within this project, there is its own unit of calculation, called the Tronix token (TRX). It is with the help of TRX that the platform will encourage the creation of new content by users. Some analysts say that this media platform has a good chance to compete with such platforms as YouTube, Instagram and Facebook.

You can buy TRX cryptocurrency on the Binance exchange, where about 20% of the total trading takes place. The maximum rate of TRX reached 25 cents at the beginning of 2018, when the capitalization of the project was equal to 16.7 billion dollars.

Frequently asked questions

What is the official website of the Tron project?

The official website is https://tron.network/

Is Tron cryptocurrency traded on exchanges?

Yes, Tron cryptocurrency is traded on many cryptocurrency exchanges.

List of exchanges where TRX is traded:

  • Binance; 
  • Huobi; 
  • Crypto.com;
  • Gate.io;

Which wallet to store Tron (TRX) in?

You can store TRX token in TronLink wallet, which is recommended by Justin Sun, head of the project. Many other cryptocurrency wallets also support Tronix cryptocurrency.

List of Tron storage wallets: 

- Ledger Wallet Hardware; 

- imToken; 

- Trust Wallet; 

- Math Wallet; 

- Exodus; 

- Atomic Wallet;

- Guarda.

Is the price of the Tron token volatile?

Tron cryptocurrency is volatile. The price of TRX has experienced both ups and downs just like any other coin in the crypto market.

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Article posted8/30/2022Article categoryCryptocurrency
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