What is Tron? TRX is a token or coin?

The definition of Tron

Hey are you also wondering about the movie name 'Tron: Legacy', well we don't have anything to do with that movie; it's a complete different topic.

Tron (TRX) is a blockchain platform launched as the foundation for a decentralized entertainment ecosystem. Created by Justin Sun, a graduate from University of Pennsylvania , Tron says it's focus is on expanding the market of decentralized digital content applications by making it easier to create and deploy them. The Tron mainnet launched Jun 2018, and it since expanded to become a blockchain based OS. the Tronix TRX is the native token of the Tron blockchain. 

TRON has positioned itself as an environment where content creators can connect with their audiences directly. Tron is designed to ease the transition of creators and consumers into blockchain based decentralized entertainment ecosystem. By eliminating centralized platforms whether they are streaming services, app stores or music sites, it is hoped that creators won’t end up losing as much commission to middlemen. In turn, this could also make content less expensive for consumers.

History of creation of Tron

TRON was founded by Justin Sun in 2017 with the help of his Singapore based non-profit organization named as Tron Foundation. Justin Sun is a very famous name in the crypto space; may be because of his so much controversial activities or his claims of innovation in blockchain technology could be the reason for it.

Tron is written in the Java programming language.

Tron's own native token TRX was initially launched as an ERC-20 token on the Ethereum blockchain Then in 2018 Tron shifted to it's own blockchain. In 2019, Tron acquired the famous peer-peer content sharing platform BitTorrent

How it works?

The network works on a few principles, the first being that all data on the network is free and not controlled by a central authority. Content creators are able to gain digital assets as a reward for their content. For convenience say that they get the TRX token or other tokens which are marked by TRX in form of their rewards.

TRON uses a consensus mechanism that is known as delegated proof-of-stake; in which TRX holders vote for super representatives. TRON is maintained by the TRON Foundation which distributes computing resources equally among TRX holders with internal pricing mechanisms such as bandwidth and energy. TRON provides a decentralized virtual machine, which can execute a program using an international network of public nodes. The network has zero transaction fees and conducts approximately 2,000 transactions per second. So as a fact Tron has no transaction fees for TRX, which is quite a remarkable feat.

The TRX cryptocurrency gained a greater mainstream attention in 2018 when the development company behind Tron, the Tron Foundation, acquired peer-to-peer content sharing platform BitTorrent.

Supply and Market cap of TRX

TRX - All time chart

Tron (TRX) was first launched through an ICO, and raised around $60 million USD.

Tron (TRX) has a circulating supply of 71,659,657,369 TRX tokens and has a total supply of 100,850,743,812 TRX tokens. And as of writing, TRX ranked 25th among cryptocurrencies in market capitalization, according to CoinMarketCap. Its price is $0.08645, giving it a market capitalization of $6.2 billion. TRX had an all time high of $0.207133 during the 2017 crypto bull run.

Where to Buy TRON (TRX)?

Tron (TRX) is always among the top 30 cryptocurrencies in terms of market capitalization. So you can figure it out that it's available to buy, sell and trade Tron in almost all the major exchanges around the globe except coinbase; it includes the names of major exchanges like Binance, Huobi, Kraken Poloniex, KuCoin, Bitfinex, Coinbene and others.

Whether invest or not?

It is now well known that cryptocurrency market is extremely volatile. Hence it is very difficult to pinpoint the future of Tron. However, as far as speculations are concerned, Tron seems to have a fairly prosperous future ahead.

Tron might have a great future If Tron’s Team executes its six phases successfully, this digital currency is likely gain a huge market share in terms of market capitalization. Since entertainment industry is growing at a very fast pace, it will add to the utility of the cryptocurrency. Hence investor will get attracted towards it if all goes as planned in future.

Furthermore, Investing in any types of cryptocurrencies is a subject to high market risk and high volatility. If you are ready to take the risk of cryptocurrencies then you can invest in TRX also. And always Do Your Own Research before investing in cryptocurrencies.