What is Tron?
Like Ethereum, Tron is a decentralized operating system built on blockchains that seek to advance the decentralization of the Internet and its infrastructure.
Tron is a smart contract platform that is used for the development of decentralized apps (DApps) in the TRON ecosystem. Designed around the accessibility of its native coin, Tronix, the Tron blockchain (TRX).
What is the History of Tron?
Justin Sun founded TRON in 2017. In 2017, TRON Foundation raised $70 million from an Initial coin offering shortly before China banned digital tokens.
TRON moved the protocol from an ERC-20 token to an autonomous peer-to-peer network on top of Ethereum in 2018. It was marketed as rival Ethereum after that. The TRON Foundation confirmed on 25 July 2018 that it has completed the acquisition of Bittorrent, the largest peer-to-peer file storage network.
Following this acquisition, BitTorrent creator Bram Cohen also reported in August 2018 that he was leaving the organization to found Chia, a bitcoin substitute created to be a less energy-intensive cryptocurrency.
TRON had a cumulative market cap of around $1.6 billion by January 2019. Amid this market success, several scholars regarded TRON as a standard case of the complicated and disordered existence of cryptocurrencies.
In February 2019, BitTorrent began its own token sale focused on the TRON network after being purchased by the Tron Foundation.
What are the Features of Tron?
The TRON protocol, mostly managed by the TRON Foundation, distributes computational services with internal pricing structures such as bandwidth and energy fairly among TRX holders.
TRON offers a shared virtual computer that can execute a program utilizing an international public node network. The network has zero costs for transfers and completes ~2000 transactions per second.
TRON applications advocate low transaction costs to discourage DDoS attacks from being carried out for free by unauthorized users. In this respect, EOS.IO and TRON are quite similar, due to the low fees, high transactions per second, and high stability, and regarded as a new generation of blockchain systems.
Some researchers defined TRON as an Ethereum clone, with no fundamental differences. The transactions per second rate on Tron’s blockchain was questioned because it was far below its theoretical claim.
Where am I able to use my TRX?
On the Tron Blockchain, there are various Decentralized Applications (Dapps), all of which require the usage of the native Tronix (TRX) token. TRX can be exchanged with TRC10 tokens such as BitTorrent, 888Tron and others that are used by several Dapps on the Tron Blockchain.
Where can TRX be stored?
In their day-to-day online operations, the Tron Foundation has made it very convenient for consumers to store and utilize TRX. The Foundation recommends TronLink and TronWallet as wallets established by their official community.
In several other commonly recognized wallet brands, such as Trust Wallet, Ledger, Cobo Wallet, and others, you can even store and use your TRX.