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Tron (TRX)
What is Tron?
Tron is a blockchain-based operating system that shares the most common and important characteristics with other cryptocurrencies, it is both decentralized and open-source. Tron was made back in March of 2014 by Justin Sun. Since the establishment of the non-profit organization, Tron Foundation, in Singapore in 2017, the TRON blockchain has been supervised officially by this organization.
It is safe to say that TRON’s influence, as well as its coin TRX’s, has continued to grow.
Tron’s main goal is to create a decentralized internet while, of course, competing against Ethereum. The Tron smart contracts are also one of its milestones that were achieved, set by its operating system. The Tron Foundation is also responsible for the creation of the TRX crypto wallet which allows immediate, secure, and anonymous exchange transactions.
How does Tron work?
The Tron blockchain is using the Proof-of-Stake protocol. Simply put, its main goal is to allow a much faster speed of validating and finishing transaction processes. The Proof-of-Stake protocol mainly focuses on the number of stacked coins, instead of solving numerous and hard mathematical equations as the case is with the Proof-of-Work protocol.
The Tron blockchain network can easily be used for the creation of various DApps (decentralized applications). All those decentralized applications can easily run on smart contracts. That’s one of the main reasons why Tron is usually been compared to Ethereum. One of the most profound differences between the two that must be kept in mind, is the speed of transactions validation. While Ethereum allows around 25 transactions per second, Tron allows almost 2000 validated transactions for the same time. There is a major difference when it comes to blocking production as well, Tron is capable of adding three blocks per second to the blockchain, opposed to Ethereum’s speed of just one block per second.
Benefits of Tron
- Usage of Proof-of-Stake protocol
- Security and speed of transactions validations
- Security and speed of adding blocks to the blockchain
- DApps;
- Decentralization;
What to do after buying TRX?
- Store/Hold TRX
You can safely store your TRX in your account or your crypto wallet. If you seek to make a major investment in TRX a hardware wallet is the best option for storage.
- Trade TRX
You can trade TRX for other cryptocurrencies.
- Send TRX
You can send it to anyone and anywhere.
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