Tron Trx: Understanding The Basics
With the recent surge in the popularity of cryptocurrencies, many people have been asking how they can get involved. The best way to start is by understanding the basics. In this post, we will go over the fundamentals, and you can also visit tronweekly.com to make an informed decision about whether or not to invest your money into Tron TRX
What IS TRON TRX
TRON is a blockchain-based protocol that aims to build a worldwide free content entertainment system with distributed storage technology. The platform is designed to create an economic ecosystem for digital entertainment, which will provide more efficient and cheaper access to video streaming services.
Tron Foundation officially launched the TRX token in September 2017 after distributing its ERC-20 tokens on the Ethereum blockchain. TRX is currently the ninth-largest cryptocurrency by market cap and is traded on several exchanges, including Binance, Huobi, OKEx, and Bitfinex.
TRON has two main products: TRONIX (TRX) and TronGrid. TRONIX is the basic unit of account on the TRON blockchain and is used to pay for goods, services, and bandwidth within the TRON network. TronGrid is a decentralized application that allows users to rent out their unused computing power to others who need it for mining or data processing tasks.
How Does Trx Work?
Tron TRX is an ERC20 token, which runs on the Ethereum blockchain. TRON users can use Tron tokens to freely access entertainment content within their app ecosystem or purchase items such as cloud data and more! The platform uses a Proof-of-Stake (PoS) consensus mechanism that eliminates mining competition, meaning there is no need for expensive computer hardware. In turn, the platform’s transactions are faster and cheaper, with a higher degree of scalability than other blockchains.
The crypto has been trading since mid-September 2017, following its ICO (initial coin offering). It was founded by Justin Sun, the CEO of Peiwo, which is China’s largest voice live streaming app. Tron TRX has also partnered with the Gifto Blockchain Project to provide virtual gifts for content creators on their platform.
Why Should You Care About Tron Trx?
Tron TRX is one of the most promising blockchain projects in the market right now! The platform has a large and passionate community and a strong team behind it. The Tron Foundation is dedicated to building a better future for content creators and users alike. Additionally, Tron’s partnership with Baidu in China will give it a significant edge in the Chinese market, one of the largest entertainment markets worldwide. Finally, Tron TRX has an impressive list of advisors on its team, including Hitters Xu (founder of Nebulas), Dai Wei (CEO and founder of OFO bike), and more.