Tron
What is Tron?
TRON is a blockchain platform, the functionality of which includes working with smart contracts, running decentralized applications. Also, this platform is open source, which makes it easier for many developers to work with it and which has created a fairly large ecosystem of decentralized applications.
This cryptocurrency has its own unique goal – the decentralized internet, and TRON builds all its other goals around the main idea. Also, one of the main goals of this cryptocurrency is to change the sphere of entertainment. He seeks to use blockchains to exchange a variety of content without the intervention of intermediaries. Those who create content will be able to contact consumers directly and promote it.
To implement this idea, the Tron Foundation (TRON Foundation) bought a company called BitTorrent to exchange content between nodes. After that, a separate BitTorrent token (BTT) was launched, it is needed to increase its protocol and stimulate its use.
The development team also wants to make TRON the most flexible platform for running smart contracts. For this purpose, the TRON VM has been created with Ethereum VM compatibility and it is planned to implement compatibility with other VMs.
TRON was founded by a Chinese entrepreneur named Justin Sun. In 2017, an ICO took place during which it was possible to raise about 70 million US dollars. Interestingly, this happened just a few days before the Chinese authorities banned ICOs.
The testnet was launched in March 2018 and the mainnet was launched two months later. As for the TRON (TRX) network token (has the same name as the network), it was launched along with the test network on the Ethereum blockchain (ERC-20), and after the launch of the main network, the token moved to it.
TRON uses a 3-layer architecture in its work:
- Main level. At the main level, the fundamental tasks of the blockchain are solved, such as transaction verification, account management.
- A storage layer. This level is needed for complex data processing and storage.
- Application layer. Developers need it to create decentralized applications and wallets.
Proof-of-Stake is used to validate transfers within the network. Also, it should be noted the risks associated with this cryptocurrency. The most important is its creator, Justin Sun. He is considered a very controversial person, and has been implicated in suspicions of insider trading and other illegal activities.
Tron Mining
Unlike most other cryptocurrencies, TRON cannot be mined. TRON uses a different principle called Proof of Stake. You can download a special crypto wallet, and by putting this cryptocurrency on such a wallet and holding it there, you will receive additional TRON for this.
How do I get Tron?
You can buy Tron through a reliable crypto exchange like Leoexchanger! or on the crypto exchange where this token is traded.
Tron Price Dynamics (USD)
As of October 2022, 1 TRX is worth approximately $0.06046. The total market capitalization is $5,586,404,764.
The price movement chart is shown below:
How to store Tron?
This cryptocurrency can be stored both on a crypto exchange account and on a crypto wallet. If you decide to store it on a crypto wallet, first make sure it supports Tron cryptocurrency staking.
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