Tron (TRX) is a sophisticated blockchain platform designed to decentralize and democratize the business of content distribution through a collection of permission-free tools, platforms and protocols.
As a smart-contract-enabled blockchain, Tron enables developers to create and distribute decentralized applications (dApps) that can be developed for a variety of purposes, including online games, decentralized markets, yield farms, lending and credit platforms and more.
What is The Purpose of The TRX (TRON) Token?
TRX, issued by Tron Dao, is the native mainnet cryptocurrency of the Tron system. The base unit of the account on the Tron blockchain is TRX. Transactions can be made between TRX and all TRC-based tokens. TRX acts as an intermediary between the entire Tron ecosystem and enables transactions and applications on the blockchain.
Who Are The Creators of The Tron Project?
The Tron platform was founded by Justin Sun in September 2017. Today, Justin Sun is also the chairman of the Tron Foundation, a non-profit organisation that helps build and support the Tron ecosystem. Sun was born in 1990 and was the cover of Yazhou Zhoukan in 2011 and Davos Global Youth Leaders in 2014. In 2015, Sun was named CNTV’s most prominent young entrepreneur and was on the Forbes China 30 Under list from 2015 to 2017.
What Makes The Tron Project So Special?
Tron is designed to simplify things and empower the decentralised internet, where users can access materials without geographical restrictions or limitations of any kind. To achieve this goal, it has several special features. These elements are
Management via the blockchain
Superior scalability
Well-developed ecosystem
Key elements such as governance on Tron and the blockchain.
Tron defines the future of the platform by implementing the TRX holding community’s will to promote blockchain governance. Users who participate in voting and decision-making processes by deploying their tokens also share in the benefits of the network.
Like other competing smart contract systems such as Ethereum and Binance Smart Chain, Tron also supports various token functions. These are the TRC-10, TRC-20, TRC-721 (unique tokens) specifications.
Tron and high scalability
TRX is designed to run applications with tens of thousands of concurrent users. Using Tron’s dPoS (proof of stake expressed) consensus algorithm, the network can process about 2,000 transactions per second (TPS). It is predicted that this will develop much more in the future.
Tron and the established ecosystem
As one of the oldest smart contract systems, Tron has a well-developed dApp and DeFi ecosystem. This ecosystem brings together the decentralised file-sharing network BitTorrent, the decentralised PoloniDEX and the JUST ecosystem of DeFi platforms.
The Tron virtual machine (TVM) is also compatible with the Ethereum virtual machine (EVM). Developers can easily migrate their dApps to Tron on Ethereum or other EVM-compatible blockchains.
What is a Smart Contract?
Smart contracts are computer programs that can execute any contract automatically. TRX Smart contracts are secure and neutral pre-determined frameworks that allow two or more parties involved in the contract to reach agreements without relying on an intermediary or each other.
Tron Smart contracts make up a large part of decentralised applications today and are increasingly embedded in blockchain technology.
TRX Token Information
Tron does not have a maximum token offering. During the 2017 Initial Coin Offering (ICO), retail investors received 15.75 billion TRX tokens, while ICO participants received 40 billion TRX. In addition, the Tron Foundation received 34 billion and a company owned by Justin Sun received 10 billion TRX tokens.
As a result, 45% of the TRX offering was distributed to the project’s founder, Justin Sun, while the remaining 55% was distributed to investors.
Whitepaper Token TRX
Tron promotes the project as “a fully decentralised, scalable blockchain system that offers innovative techniques to solve the problems of other blockchains”.
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