Coin of the Week: Tron (TRX)
Tron is a blockchain-based operating system designed to make this technology suitable for everyday use.
What Is Tron (TRX)?
Tron is a blockchain-based operating system designed to make this technology suitable for everyday use. Tron claims that its network has the capacity to handle 2,000 transactions per second, versus Bitcoin's six transactions per second and Ethereum's 25.
It is best described as a decentralized platform built around content sharing and entertainment. In 2018, it acquired a large stake in BitTorrent, a file sharing service.
A total of six phases define Tron's goals. Among those are simplifying distributed file sharing, enabling financial rewards to drive content creation, allowing content creators to launch their own tokens, and decentralizing the gaming industry.
Additionally, Tron is a well-known blockchain for DAPP creation.
Tron Founders: Who Are They?
Justin Sun, the current CEO, founded TRON. He was recognized by Forbes Asia for its 30 Under 30 series for entrepreneurs after studying at Peking University and the University of Pennsylvania.
In the past, he was also associated with Ripple, serving as its chief representative in the Greater China area.
Tron: What Makes It Unique?
Tron has established itself as a place for content creators to directly communicate with their audiences. It is hoped that eliminating centralized platforms, such as streaming services, app stores, and music sites, will result in creators losing fewer commissions to middlemen. Consequently, consumers would be able to buy content at a lower price. With the entertainment sector becoming increasingly digitized, Tron has a great opportunity to apply blockchain technology to this industry.
The company also claims to have a talented and experienced developer team, based around the world, that came from major companies such as Ripple Labs.
Finally, while other blockchain projects may be opaque about their plans for development, Tron provides a roadmap that shows its goals for the coming years.
Circulating Tron (TRX) coins: How many are there?
The total supply of Tron tokens is just over 100 billion - and about 71,6 billion of them are in existence at the time of writing.
During the 2017 token sale, 15.75 billion TRX were allocated to private investors, while another 40 billion were reserved for participants in the initial coin offering. It was granted 34 billion to the Tron Foundation and 10 billion to a company owned by Justin Sun.
Overall, this meant that 45% of TRX supply went to the project and founder, while 55% went to investors. Compared with other cryptocurrencies, critics cite this ratio as being much higher.
How Is the TRON Network Secured?
As part of its consensus mechanism, Tron uses delegated proof-of-stake.
By freezing your TRX, you get Tron Power, which means you can vote for "super representatives" who will act as block producers.
As a reward for verifying transactions, these block producers receive TRX rewards, which are then distributed among those who voted for them.
TRON claims that this approach allows its blockchain to achieve higher throughput levels.
Where Can You Buy Tron (TRX)?
By Warren Manuel
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*Curated from different sources.