We have already learnt all about Bitcoin, Ethereum, Litecoin and Tether. Time to move on to last but not least cryptocurrency, TRON (TRX).
Development of TRON began with the creation of its native cryptocurrency, TRX, which is used to secure the platform's transactions. Since then, TRON has grown to become one of the largest blockchain-based platforms in the world, with a market capitalization of over $4 billion (as of 2021).
TRON (TRX) and the history of its development
TRON (TRX) is a cryptocurrency that runs on a decentralized platform. The history of TRON (TRX) began in 2017 with Justin Sun. He is a prominent figure in the world of cryptocurrencies and is best known as the founder and CEO of TRON. TRON (TRX) was created to provide a platform for developers to create and develop decentralized applications (DApps) and smart contracts.
Main idea of TRON is to create a free global digital content entertainment system. It allows content creators to publish, store and distribute their content without intermediaries such as YouTube or Netflix. TRON uses its native cryptocurrency TRX as a medium of exchange between content creators and users.
Since its launch in 2017, TRON has become one of the most popular blockchain platforms in the world. In January 2018, TRON announced the acquisition of BitTorrent, a peer-to-peer file sharing platform. Later that year, TRON launched its TRC20 mainnet, which allowed the platform to operate independently of the Ethereum blockchain (TRON was previously based on Ethereum (ERC20)). This move allowed TRON to become more scalable and efficient, enabling faster transaction processing and lower fees.
In 2019, TRON continued to expand its ecosystem by launching BitTorrent Speed, a tool that encourages users to share files on the BitTorrent network. In 2020, TRON partnered with Samsung to integrate TRON-based decentralized applications (DApps) into blockchain-enabled Samsung smartphones. In addition, TRON has launched its own USDJ stablecoin, which is pegged to the value of the US dollar.
In 2021, TRON continued to develop its ecosystem by launching several new DApps, including JUST NFT, a platform for buying and selling non-fungible tokens (NFTs), and JUST Game, a decentralized gaming platform.
These are just some of the major events in the history of TRON. Since its inception, TRON has focused on creating a decentralized platform for content creators and consumers, and it has continued to expand its ecosystem through partnerships.
Features of TRON (TRX)
Blockchain technology
TRON is based on its blockchain technology, which provides a secure and transparent ledger for all transactions. This technology ensures that all transactions are recorded in a secure manner, giving users confidence when it comes to the safety of their assets.
Smart contracts
Another key feature of TRON is the smart contract feature. It allows the creation of decentralized applications (dApps) that can be executed on the TRON network. These dApps can be used for a variety of purposes, from gaming and entertainment to finance and healthcare. The flexibility of TRON smart contracts means that developers can create custom solutions that meet the specific needs of their users.
TRC-20
Finally, TRON also offers its own token known as TRC-20. It is used to secure transactions on the TRON network and can also be used to access services provided by dApps on the platform.
Pros and cons of TRON (TRX)
Pros:
➕ Allows content creators to publish, store and distribute content without intermediaries, giving them more control over their work.
➕ Has fast transaction processing time (2000 transactions per second) and low transaction fees.
➕ Has a large and active community of developers and supporters who help and encourages the development on the platform.
➕ Secured partnerships with well-known companies in the entertainment industry that increase awareness.
➕ Allows developers to create decentralized applications based on the platform.
Cons:
➖ Like many cryptocurrencies, the value of TRON can be volatile and its price can change quickly and unpredictably.
➖ Is uncertain in many parts of the world, which may affect the implementation and use of TRON in the future.
➖ Limited implementation compared to more established platforms such as Bitcoin and Ethereum.
➖ Some critics have raised concerns about centralization in the TRON network, particularly the distribution of TRX tokens.
Where to buy TRX?
TRX can be bought on various cryptocurrency exchanges such as Binance, Coinbase or Kraken, or you can use cryptocurrency wallets to buy it.
We recommend Any.Cash, a reliable and secure multi-currency wallet. With its help, you can not only quickly buy TRX, but also store it on your account or exchange it for BTC, ETH, LTC, USDT and fiat.
Step-by-step instruction for buying TRX
1. Go to @AnyCashBot.
2. Make a deposit to your account: 💼 Wallet → 📥 Deposit. You can make deposits to any fiat (UAH, USD, EUR, KZT) or cryptocurrency (BTC, ETH, LTC, USDT) account.
3. After a successful deposit, go and buy TRX: 📊 Exchange → 📈 Buy → 🔹TRX.
4. Choose the exchange direction, enter the desired amount and confirm the exchange.
5. TRX has been credited to your account!
Conclusions
With advanced blockchain technology, smart contract functionality and a special token, TRON is a powerful platform that is well-suited to meet the needs of a wide range of users. It is a promising platform that has the potential to disrupt the entertainment industry by providing a decentralized alternative to traditional content distribution models. But as with any cryptocurrency, TRX has its downsides. Therefore, it is worth studying all its aspects in detail and making an informed decision about the buying. After all, you are primarily responsible for your funds.
