- Tron is a blockchain-based decentralized protocol that aims to create a free digital entertainment ecosystem.
- While many virtual currencies are already in the limelight, Tron is yet to become the worldwide free entertainment ecosystem giving all profits in the creator’s hands.
Founded by Justin Sun, the former chief representative of Ripple in China in September 2017, TRON (TRX) is a blockchain-based decentralized platform designed to enable content creators to publish, store and distribute their content in a decentralized manner without the need for intermediaries.
In April 2021, Tron’s circulating supply of stablecoins surpassed Tether (USDT) on the Ethereum network. Stablecoins are cryptocurrencies that are pegged to a stable asset.
For instance, the US dollar, and is designed to minimize price volatility. Tron’s stablecoins have turned the head of investors due to their stability and ease of use, and their large circulating supply is a testament to their traction.
A reminder: In December 2021, Tron became a wholly community-governed decentralized automated organization (DAO). By achieving this, Tron became a fully decentralized entity. This move further emphasizes Tron’s commitment to decentralization and community involvement in the governance of its platform.
How Does Tron (TRX) Work?
TRON works on the concept of a decentralized entertainment ecosystem where creators can directly interact with their audience without any middlemen. The platform utilizes blockchain technology and a decentralized P2P network to create a content-sharing system.
At its core, TRON has the ability to execute smart contracts on its blockchain.
Smart contracts are self-executing programs with the terms of the agreement between buyer and seller being directly written into lines of code.
TRON strives to move from a fringe to a global sensation by positioning itself as the more flexible and lightweight option for smart contract deployment.
The TRON Virtual Machine (TVM) is compatible with Ethereum Virtual Machine (EVM), with planned support for several other VMs in the future. This should ensure that the deployment of applications and custom wallets on the TRON platform is done in a more flexible manner.
Tron Coin (TRX)
TRON’s native token is called TRX, and it is used as the primary currency for all transactions on the platform. In comparison to other major cryptocurrencies like Bitcoin, Tron has speed, achieving high throughput by maintaining the TPS (transaction per second) of the Tron network at an acceptable level.
TRX can be used to pay for content, services, and products within the TRON ecosystem. Additionally, TRX can also be traded on various cryptocurrency exchanges, enabling users to buy, sell, or hold the currency for potential future gains.
The live TRON price today is $0.069768 USD with a 24-hour trading volume of $219,184,699 USD. TRON is up 0.54% in the last 24 hours. The current CMC ranking is #15, with a live market cap of $6,378,612,156 USD. It has a circulating supply of 91,426,229,352 TRX coins.
In summary, TRON is definitely a blockchain-based decentralized platform that aims to enable creators to publish, store, and distribute their content in a decentralized manner without intermediaries. It utilizes blockchain technology, smart contracts, and its native currency TRX to create a more efficient, transparent, and decentralized entertainment ecosystem.