TRON (TRX) - Coin of the Week
Launched in 2017, TRON attracted a group of investors and developers around a vision of how cryptocurrencies could reshape the internet. The basic elements of TRON such as decentralized applications (dApps) and smart contracts (smart contracts) were initiated by other projects before its launch. At the same time, Tron borrowed elements from Ethereum to develop a network compatible with one of the most important blockchain technologies.
History of TRON
The TRON project was developed by entrepreneur Sun Yuchen (Justin Sun). With an established presence in China, Sun previously founded the audio app Peiwo and represented Ripple, the company that manages the cryptocurrency XRP, before founding the Tron Foundation in 2015. Sun has managed to attract interest from various fields, including the video game industry and the industry ride sharing applications.
TRON differentiates itself with a strategy focused on the Asian market and on the translation of its technical documents into a variety of languages used in Asia. TRON gained attention in 2018, when the TRON Foundation acquired the BitTorrent peer-to-peer network. This acquisition led to the launch of a BitTorrent token through the Tron blockchain network in 2019.
How does TRON work?
Originally developed as an Ethereum-based token, TRON eventually migrated to its own network in 2018. TRON uses a similar model to ETH, meaning that cryptographic data controls access to TRX balances.
TRON technology directs data exchange through three processes:
- The network calculates the instructions written in Java or Solidity (a language designed for Ethereum) and processes them through a virtual machine,
- TRON users develop wallets and applications powered by the TRX cryptocurrency,
- TRON technology segments blockchain data and smart contracts data
To reach a consensus on its decentralized ledger, TronTRON uses a system in which a group of 27 "representatives" are elected to validate transactions and maintain the history of the system. The group is elected every six hours and gains the ability to collect TRX units generated by the protocol.
TRON use-cases
- Fast and efficient transactions
- Decentralized applications (dApps)
- Content storage and distribution
For more information about TRON, go to the TRON Price page.
Advantages of TRON
- High scalability
- Applicability
- Safety and confidentiality
For more information about TRON, go to the TRON Price page.
TRON in 2023
The founder of Tron, Justin Sun, revealed an important goal for TRON in 2023: At least 5 countries to adopt TRX as a legal means of payment.
TRON financial indicators
Market Cap: 5.8 billion EURO
TRON price today: 0.06 EURO
TRON trading volume (24 hours): 342 million EURO
TRON community
The latest TRON news
- The TRON network recently adopted a proposal to modify the energy mechanism within the smart contract system. The new model will use a "dynamic energy model" that increases transaction costs for illiquid projects. The change has no impact on other dApps in the TRON ecosystem.
- Justin Sun, the founder of Tron announced the introduction of a new payment system to support the development of AI tools. According to the announcement, Sun expects TRON to be used to provide a decentralized payment framework for AI systems.
How to buy TRON
On Tradesilvania you can buy and sell the cryptocurrency TRON (TRX) or other types of cryptocurrencies, such as Ethereum (ETH) and MultiversX (EGLD). In our platform, you have the possibility to include TRON (TRX) units in the Savings service, through which you can generate passive income.