Decoding What is Tron and the potential of the TRX . cryptocurrency

• What is Tron?
• Features of Tron
• Pros and Cons of Tron
• Conclude

What is Tron?

Tron concept

Tron (TRX) is a decentralized protocol developed based on the Blockchain platform. Tron's aim is to create a global ecosystem for the production of completely free content. Here, users can freely publish archives and own data. Tron's decentralized form of autonomy also allows users to choose how to distribute data, register, distribute content, and then issue digital assets.

Tron's Development

Tron was founded by Justin Sun in 2017. The CEO of the Tron project Justin Sun – who is on the Forbes Asia Top 30 under list. He is also the founder of the famous Chinese chat app Peiwo and was a representative of Ripple in China. Justin is known as the "next Jack Ma", he used to be a student of Jack Ma - the founder and chairman of Alibaba.

Tron was founded by Justin Sun in 2017.

In addition to Sun, the main founding team of TRON is CTO Lucien Chan, a former Alibaba employee with extensive experience working with leading Internet companies such as Netease, Qihoo 360 and Tencent.

August 2017 to December 2018 – Exudos phase: The project proceeds to build the security for data storage, launch the Mainnet.

January 2019 to June 2020 – Odyssey Phase: The Tron Network matures, allowing users to create, publish, and promote products with quality content.

July 2020 to 7/2021 – Great Voyage phase: project to issue ICO, develop a personalized ecosystem for users.

The main founding team of TRON.

Tron's mechanism of action

Tron works by becoming a platform for content creators to put their work online. These works can be in the form of movies, music or images, etc. And these creators can sell them on TRON's platform. TRX tokens are used to transact in this network and there are no fees.

Features of Tron

Licensing for digital content

When users join the Tron network by publishing content, these content will be licensed by the platform and users will receive TRX tokens in return as a reward, which motivates them to create and develop. develop more and more diverse and rich content system.

Freeing data

On a voluntary and optional basis, data will include characters, audio, video, and images that may be uploaded or stored on the TRON platform.

Personal ICO

With the personal ICO feature, users can freely distribute their digital assets in the form of ICOs, other members can also benefit from the thriving development of data collaborators by how to buy those digital assets.

The infrastructure

Each distributed digital asset will be equipped with a set of infrastructure including exchange methods, asset distribution, autonomous games, etc.

Pros and Cons of Tron

Advantage

The Tron platform can help users share ideas and news without being controlled by governments or third parties.

The completely decentralized platform allows users to control all their data as digital assets and monetize them.

The platform's independent payment system makes it possible for users to buy and sell content directly and securely.

The Tron development team is the leading technology expert in the world and has a good reputation in the crypto community.

Defect

The founder's excessive communication style caused many investors to have an unfriendly view of the project.

From the beginning of development, Tron "copy-pasted" quite a lot from the Ethereum project. Although there have been new developments now, TRX has not escaped the shadow of its predecessor.

Everything you need to know about the TRX . cryptocurrency

Some basic information about Tron . cryptocurrency

• Price: 0.066 USD (Price updated at the time of writing on 03/07/2021).
• Market capitalization: $5.47 billion.
• Total supply: 100 billion tokens.
• CoinMarketCap ranking position: 25.

Intended use of Tron token

• We can use TRX to pay transaction fees, smart contract creation and execution fees.
• TRX is also used to pay for services and goods on the Tron platform.
• In addition, TRX holders can vote for candidates to run the network and as a reward.

TRX buying guide

Buy TRX by bank transfer : TRX can be bought and sold in currencies such as USD, INR, CNY, KRW, etc. In Vietnam you can buy Tron on Bitmoon with VND.

Buy TRX with a credit/debit card: Using a credit or debit card is the easiest way to buy any cryptocurrency and so is TRX.

Buy TRX through other cryptocurrencies or BTC,ETH: Investors can buy TRX easily from exchanges by trading through TRX/BTC, TRX/ETH, TRX/USDT currency pairs. The basic process is as follows, you can use VND then go to Binance to buy USDT, BTC, ETH via P2P trading and then use these coins to buy TRX.

Buy TRX with cash: We do not recommend you to trade in this form because it can be risky because there is no responsible intermediary between the buyer and the seller.

TRX Token Allocation

TRX tokens are allocated according to the following ratio:

Public Sale: 40% of total supply.

Private Sale: 25.75% of total supply.

TRON Foundation: 34.25% of the total supply.

Allocate TRX tokens.

TRX token storage wallet

Tron Wallet is an online Web wallet (hot wallet) platform created by the project's developers to help users store Tron cryptocurrency in the safest, most convenient and best way. Tron Wallet is directly integrated into Tron's Web check transaction (Blockchain Explorer) website. To create a TRX wallet, you need to follow these steps:

Step 1 : First, go to  https://tronscan.org/#/wallet/new then enter your login password and select "Next".

Step 2 : Click “ Download Encrypted Key ” (Encrypted Key) to download the “ Keystore File ” to your computer , this will be the File used to log in to your Tron wallet. When done, click “Next”.

Step 3 : Click on the image below to copy the Private Key and save it carefully, you can print the Tron paper wallet right below if you want, then click " Next ".

Step 4 : Complete wallet creation and click “ Go to account page ”.

In addition, you can choose wallets to store TRX such as: MyEtherWallet , Tron Wallet,  Trust Wallet ,  Ledger Nano S , Cobo Wallet, Atomic Wallet...

Exchanges that support TRX

Up to now, TRX has been listed by many cryptocurrency exchanges. In which some big names can be mentioned are Binance, KuCoin ... (in which the largest trading volume is at Binance). 

Conclude

TRX is the fastest growing cryptocurrency in 2017. Justin Sun – CEO of Tron Blockchain once said that: “If Ethereum is iPhone, TRON is Android”. Of course, that is the vision of the leaders with the development roadmap for their projects. What do readers think about this project? Share with TraderH4 via the group's Telegram channel !

Note: This article is for informational purposes only and should not be considered investment advice. Cryptocurrency investment is a form of risky investment, you only participate with the amount of capital that can be lost.

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