What is TRON (TRX)?

TRON, a decentralized blockchain network, was founded to revolutionize the entertainment and media industry and enable more transparent, fairer, and cost-effective distribution and monetization of digital content. The project’s primary objective was to grant complete rights of ownership to creators of digital content. Its aim is to assist content makers (who barely receive any income) and motivate them with prizes for their effort. The process involves inviting content consumers to reward content makers directly, without intermediaries such as YouTube, Facebook, or Apple. Decentralized applications (dApps), smart contracts, and various kinds of blockchain systems are supported by TRON software. The cryptocurrency platform employs a transaction model akin to that of Bitcoin (BTC), referred to as UTXO. In a public ledger, transactions are stored, and users can track their history.

Tron cryptocurrency, also known as TRX, is a native digital currency of the TRON blockchain network. TRON aims to create a more sophisticated peer-to-peer content sharing and monetization platform by leveraging its underlying blockchain infrastructure. TRX is used to pay for digital content and services on TRON’s various dApps (decentralized apps) and service platforms. The TRON blockchain network handles more than 3 million transactions per day, with over 32,000 active accounts. TRON users can purchase TRX on cryptocurrency exchanges or earn them through content creation and sharing on TRON-based platforms.

TRON’s journey began in 2017 when Justin Sun, a well-known crypto enthusiast and entrepreneur, founded the TRON Foundation. Sun was previously the Chief Representative of Ripple (Asia) and also founded Peiwo, a voice streaming app. In the same year, TRON launched its initial coin offering (ICO), raising over $70 million. Today, the TRON Foundation is led by CEO Justin Sun, who works with a team of over 500 developers and professionals across the world.

Resources

White paper

Official website

Tron blockchain explorer

How TRON blockchain works

Tron is making file sharing easier and more decentralized without relying on media tech giants like Netflix or YouTube. To achieve this, Tron utilizes a virtual machine similar to Ethereum’s, called the “Tron Virtual Machine” (TVM), that allows network contributors to execute Tron-based smart contracts. These smart contracts function like self-executing computer codes that carry out specific actions triggered by predefined conditions.

Tron’s security is ensured by delegated proof-of-stake, where token holders deposit TRX into a wallet and select delegates to validate transactions on the blockchain on their behalf. Every six hours, a rotating group of 27 delegates called “super representatives” validate new transaction data and add it to the blockchain. The most significant feature that distinguishes Tron from competitors like YouTube is its emphasis on decentralized file sharing.

To make it easier to decentralize media and files, Tron’s architecture is split into three layers:

• Core layer: This layer deals with smart contracts, account management and the delegated proof-of-stake consensus mechanism.
• Storage layer: For storing files and other large pieces of data.
• Application layer: Where Tron developers can build their decentralized applications on the blockchain.

What is TRON used for?

Design your own tokens on TRON network and use them in decentralized apps (dApps) created by other users. The core TRX token serves as a foundation for these tokens. Experience completely decentralized games on TRON network, where you can directly reward the creators if you enjoy the game. TRX is used to pay content creators or make peer-to-peer (P2P) payments. TRX also plays an integral role in the issuance of TRON-based stablecoins.

With a capacity of 2000 transactions per second, TRON network is a true game-changer for online media. Compared to Ethereum (25 transactions per second) and Bitcoin (3-6 transactions per second), TRON offers lightning fast transactions and a scalable future.

How to buy TRON (TRX) on XT.COM?

TRON (TRX) can be purchased directly from XT.COM by using a debit or credit card. TRON (TRX) can also be traded for other cryptocurrencies on the XT.COM Crypto Exchange. Live TRON (TRX) price is updated in real-time on XT.COM. Buy TRON (TRX) on XT.COM in four simple steps:

1. Create your free XT.COM account
   Sign up or download the XT.COM appand start the sign-up process. Provide your email address, country of residence and secure your account with a strong password.
2. Secure Your Account
   Ensure stronger protection of your account by setting Google 2FA code and anti-phishing code.
3. Choose how you want to buy the TRON (TRX) asset.
   Click on the “Buy Crypto” link on the top left of the XT.COM website navigation, which will show the available options in your country.
4. Buy TRON (TRX)
   Use a variety of payment options to buy TRON (TRX) on XT.COM.