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About TRON

About Tron

Tron is a decentralised content-sharing and entertainment platform that uses both blockchain and peer-to-peer (P2P) technology. It's a next-generation social media platform where you can create and share content with anyone in the world. Tronix, or TRX, is a unit of accounts in Tron's blockchain or the name of the currency that pays for the content. People who enjoy online gambling or use social media and other forms of online entertainment are likely to enjoy Tron.

With Tron's cryptocurrency ecosystem, you can share content with others and be compensated as a content creator for what you create. This model is the direct opposite of how most social media platforms monetise user data. Most social media companies do it without you ever knowing; therefore, reaping the benefits for themselves. However, with Tron cryptocurrency, you control your data while also being compensated for the content and data you supply.

Tron's end goal is to replace online platforms such as YouTube by positioning itself as the key decentralised infrastructure where users can directly connect and pay creators for the content they want to use.

  • Tron was created by Justin Sun and is now the 20th biggest cryptocurrency
  • Tron has a market value of over $10 billion
  • It eliminates the need for middlemen such as Facebook and Google for users to access content
  • There are no fees for transactions
  • Tron can support up to 2,000 transactions every second
  • Tokens can be locked away, giving the holder voting rights when it comes to network decisions
What is Tron's, and how does it work?

The Tron value rebounded after the company went into partnership with DAO Maker. This new partnership means DAO Maker's activities are available on the Tron blockchain. It also means that Tron projects can participate in DAO Maker's SHO and community. After the news of this new partnership broke, the TRX price subsequently rose by 14% within 24 hours, bringing the latest gains to over 18%. It also came when Tron's blockchain was experiencing robust activity to the extent that it has now overtaken Ethereum's blockchain.

Tron empowers content creators and artists worldwide to have ownership over the content they produce. It enables you to use the internet as a decentralised open network, the internet's original purpose. It works by ensuring all data on the network is free and not controlled or managed by a central authority. You gain digital assets such as a TRX token as compensation for your content. The platform also allows you to make your tokens or coins within your own Dapps network. The primary Tron token supports these tokens. Tron aims to support online games on the network, which will be entirely decentralised, and it will be down to the user to reward creators with their digital assets if they enjoyed the game.

Can Tron be mined?

No, you can't mine Tron. Tron tokens are created as block rewards for selected Super Representatives and serve as an incentive to maintain the Tron network's value and integrity. To participate, users must stake their TRX and vote for their chosen Super Representative.

How do transactions work?

Tron coin transactions work similarly to most other digital currencies. They happen on a public ledger that can trace the transaction's history right back to the first transaction. TRX uses a transaction model similar to Bitcoin called UTXO. However, Tron provides added security. In the UTXO model, the basic output is the amount of money sent to a TRX user's address with a set of rules to unlock a specific amount.

Tron's partnerships

TRX has had some significant partnerships already, including oBike, the largest bike-sharing company in Southeast Asia who released its own token, oCoin, on Tron's network. You can buy bike rides with oCoins on the company's platform while at the same time earning oCoins just by riding oBikes. Tron has also partnered with Bitmain, a leading producer of ASIC chips used for Bitcoin mining. Another partner of Tron is Zag- S&W, an international law firm. This partnership will support digital asset transactions, risk management, operations, and legal adaptations across different areas.

Benefits of Tron

A key benefit of Tron is that transactions on the network are feeless. However, you can expect to pay a fee for purchasing TRX on an exchange to cover the exchange connecting you with a seller. Transactions are also extremely fast, thanks to the network supporting up to 2000 transactions a second. In contrast, Ethereum only supports up to 25 transactions while Bitcoin is three to six transactions. You can also create dApps and offer content on it and receive digital assets in return. These assets can either be a token you created and underpinned by TRX or a standard TRX token. Tron is keen to encourage users to support content creators to provide a way for users to support creators on the network directly.

Is Tron secure?

Tron has a good reputation for security. The company has invested in processes and personnel, including security engineer Jorge Guo who has previously worked with Huawei, Qualcomm, and Google. Like other cryptocurrencies, Tron is a decentralised network, and there is a significant emphasis on you to be smart when looking after your tokens. You store coins in a digital wallet with a private key only known to you. However, many wallets don't store information and do not have store backups of usernames and passwords. So, if you were to forget your details, then you could potentially lose you coins.

Tron price history

TRX launched in September 2017, and for the first few months, its price remained between $0.001 and $0.002 until mid-December, when it began to rise. Its price shot up in January 2018 from $0.002 to $0.3 within three weeks, something it was never able to repeat. However, shortly after this price surge, it crashed, dropping down to $0.02. It did grow again, reaching $0.05 in mid-April before climbing to $0.091. The coin continued to fluctuate until February 2021. Tron started 2021 at $0.02, climbing to $0.061 by the middle of February. It then experienced a further rise reaching $0.13 in April, following an increase of 10% in 24 hours.

Tron price prediction

It’s impossible to say with certainty what the price of a given currency will be in the future; if it were, then there would be no risk in investing. So take the following with a grain of salt and be sure to make your own research.

Some Tron price predictions put the trading price of TRX at $0.07 at the start of 2022. By the end of 2022, the TRX price could reach $0.10.

As an increasing number of organizations embrace this technology, the Tron price prediction will likely become more valuable, although it will largely depend on its acceptance ratio.

Frequently asked questions

Tron is a decentralised blockchain platform, established in 2017 in Singapore. The Tron Foundation, the non-profit behind the network, is headed by Justin Sun.

The aim of the network is to provide a digital means of sharing entertainment content, which might conceivably help the entertainment industry to rid itself of middlemen, allowing creators to get their content directly to the consumers who enjoy it. It does this through a kind of distributed storage.
This contrasts sharply with the centralised model pursued by companies like Netflix and Amazon Prime, where all of the content is stored and controlled by a single organisation which takes a considerable cut. Tron seeks to change that, making distribution truly decentralised.
The network comes with its own native currency, the Tronix.

The ticker symbol of Tron is TRX ("Tronix").

If you want to invest in Tronix, you might consider the future trajectory of the currency. Like all cryptocurrency, the coin’s heath is heavily tied to that of the crypto market overall, and of Bitcoin especially. It’s also worth considering the potential health of the TRON project — if investors begin to lose faith in the fundamental security of the network, then the price of the coin might well collapse.

The maximum total supply of Tronix is 100 billion tokens. When the project came to be, 45% of the supply went to the project’s founder and his organisation, while the remained went to investors.

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