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What is TRON (TRX) Coin? Latest Information About TRX Token

Amidst numerous cryptocurrency projects, TRON stands out as a decentralized Blockchain network that empowers users to freely create and share content while earning high profits. Instead of directly competing with major players like Cardano, Ethereum, or Bitcoin, TRON has chosen its own unique path to win over users in the most fitting and impressive way.

So, what is TRON Coin? What is the core mission that TRON aims to achieve? And what is the future potential of this project? Let’s explore the full details in the article below.

1. OVERVIEW OF TRON (TRX)

The project was developed by the non-profit organization TRON Foundation in July 2017, under the leadership of Justin Sun.

TRON is known as a decentralized public blockchain platform with high scalability and large bandwidth. It allows developers to create smart contracts and build decentralized applications (dApps) within its ecosystem.

1.1. Core Objectives of the TRON Coin Project

As mentioned earlier, the project provides a promising space where developers can create smart contracts and build decentralized applications (dApps) on its native ecosystem.

Simply put, the platform enables users to freely publish, store, and own their data, and share it over the internet. At the same time, it ensures that artists, musicians, and writers can release and distribute their content directly online without relying on intermediaries such as Facebook, YouTube, Amazon, etc.

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Furthermore, TRON empowers users to create content by enabling the creation, processing, and distribution of digital assets. This contributes to building a high-quality and impressive entertainment content ecosystem.

1.2. What is the Structure of the TRON Network?

TRON is built with three layers, including the Core Layer, Storage Layer, and Application Layer.

Core Layer – The Foundation Layer
The Core Layer plays a critical role in TRON’s ecosystem and includes the following elements:

  • Consensus Mechanism: The platform uses a DPoS (Delegated Proof of Stake) consensus algorithm.

  • Smart Contracts: TRON smart contracts run on the TVM (TRON Virtual Machine) and are written using the Solidity contract-oriented programming language.

Storage Layer – The Data Layer

TRON từ A đến Z | Thông tin, Lịch sử và Phân tích TRX chuyên sâu

The Storage Layer enables decentralized storage within the TRON platform and includes:

  • Chain Storage: The network uses Google’s LevelDB storage library to reduce the storage size of the TRON Blockchain.

  • State Storage: By implementing KhaosDB on Full-Nodes, the project can store all newly generated chains within a specific timeframe.

Application Layer – The Final Layer

The Application Layer is the final layer in the TRON platform. This is where developers can effectively and easily build dApps.

Thanks to the use of Google’s Protocol Buffers, developers on TRON can utilize various programming languages. This provides strong support and enables high-quality and efficient dApp development within the TRON ecosystem.

2. KEY FEATURES OF THE TRON ECOSYSTEM

TRON is a blockchain network focused on content creation and sharing. However, it has expanded to support many additional features, applications, and fields within its ecosystem:

  • BitTorrent Protocol: This is considered a crucial component of the TRON network. BitTorrent facilitates fast file sharing where users can download and share files easily. Additionally, BTT Token (BitTorrent Token) is used as a form of payment for data sharing activities on the protocol.

  • Dedicated Wallet – TronWallet: At the end of 2018, TRON officially launched TronWallet, its own digital wallet. This wallet is compatible with both Android and iOS, allowing users to launch and manage multiple types of assets simultaneously. Furthermore, TronWallet supports TRX staking and voting functionalities.

  • Partnership with Tether: Tether (USDT) is one of the most popular and stable cryptocurrencies on the market under the ERC20 standard. TRON has integrated this currency, providing users with safe and efficient transaction support.

  • PoloniDEX: PoloniDEX is a decentralized exchange operating within the TRON ecosystem. Here, investors can trade TRON coins and a wide variety of other tokens.

  • TRONScan: Similar to Ethereum’s Etherscan, TRONScan serves as a blockchain explorer that tracks and provides statistics on all activities within the TRON network. It allows users to access and search for any transaction that occurs on the TRON blockchain.

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  • JustLend: A lending platform operating similarly to AAVE and Compound. With idle capital, traders can use this platform to earn passive income.

  • Tron Arcade: This platform acts as a fund valued at up to 100 million USD. The funds are used to support the development of games within the TRON ecosystem.

3. DETAILED INFORMATION ABOUT TRON COIN FOR INVESTORS

TRX is the official cryptocurrency operating on TRON’s blockchain platform. Initially, this coin was built on Ethereum under the ERC20 standard. However, on May 31, 2018, TRON officially launched its Mainnet, and the TRX Token migrated to operate on the TRON Blockchain.

Simply Explained: TRON (TRX) | Cryptonary

3.1. Key Facts About TRX Coin

  • Ticker: TRX

  • Blockchain: TRON

  • Consensus: DPoS (Delegated Proof of Stake)

  • Token Type: Coin, Mineable

  • Token Standards: TRC10, TRC20

  • Block Time: 3 seconds

  • Block Reward: 32 TRX

  • Transaction Throughput: 2000 TPS

  • Genesis Supply: 100,000,000,000 TRX

  • Total Supply: 99,281,283,754 TRX

3.2. TRX Coin Allocation

TRX coins are distributed as follows:

  • Public Sale: 40%

  • Private Sale: 25.75%

  • Team & Foundation: 34.25%

3.3. Purpose & How to Own TRON Coin

The TRX Coin was developed with four key functions within the TRON network, including:

  • Governance: TRX holders can participate in voting for Super Representatives responsible for running the TRON network.

  • Fees: Similar to ETH on the Ethereum network, TRX is used to pay transaction fees and smart contract creation/execution fees within the TRON ecosystem. Additionally, TRX used for fees is burned, helping reduce the total supply.

  • Rewards: TRX is distributed as a reward to Super Representatives who receive the most votes and are selected to produce new blocks.

  • Payments: TRX can be used to pay for goods and services within the TRON network.

So how can traders own TRON coins?

The simplest way to own TRX is to purchase it directly on exchanges where it’s listed. Currently, most crypto brokers list TRX, with Binance being the world’s largest exchange by trading volume.

3.4. TRX Release Schedule & TRON Coin Roadmap

TRX Release Schedule

Tokens sold in Public Sale and Private Sale were distributed to investors immediately after the successful ICO.

Meanwhile, tokens held by the Team & Foundation were locked until January 1, 2020, as a commitment to the project’s long-term development.

TRON Coin Roadmap

TRON has a well-structured development roadmap divided into 6 distinct phases:

  • 08/2017 – 12/2018: Exudos Phase
  • 01/2019 – 06/2020: Odyssey Phase
  • 07/2020 – 07/2021: Great Voyage Phase
  • 08/2021 – 03/2023: Apollo Phase
  • 04/2023 – 09/2025: Star Trek Phase
  • 09/2025 – 09/2027: Eternity Phase

4. TRON COIN WALLET

Previously, when the project had not released Mainnet, investors could store TRX Token in ERC20 supported wallets such as MetaMask, ImToken, … However, currently, TRON has its own Blockchain, so Traders must store this Token in its own wallet. The project has developed its own wallet platform with full versions for computers (MAC, Windows), phones (iOS, Android), Web and even Chrome add-on. Therefore, you can download it to your device and start creating a TRON wallet HERE.

5. DEVELOPMENT TEAM, INVESTORS AND PARTNERS OF COIN TRON

So, who are the people and organizations behind the TRON project? Let’s take a closer look.

5.1. TRON Coin Development Team

The CEO of TRON is Justin Sun, a well-known entrepreneur in the blockchain space. He has been listed in Forbes Asia’s 30 Under 30 and is best known for developing the popular Chinese voice-streaming app Peiwo. Justin also served as the former Chief Representative of Ripple in China.

Apart from Justin Sun, the TRON project is backed by a strong technical and strategic team, including:

  • Lucien Chan (CTO): A former employee of Alibaba, Lucien has extensive experience working with leading internet giants like Tencent and Netease.

  • Keelson Yang: A graduate of Tsinghua University, Yang brings over 15 years of experience in the field of telecommunication infrastructure.

  • Maorong Lin & Xiadong Xie: Both are seasoned professionals with a solid background in entertainment and e-commerce technology development.

  • ….

investors of tron network

5.2. Investors and Partners of the TRON Project

TRON has formed partnerships with several prominent companies and organizations, including:

  • oBike, Singapore: A bike-sharing company that runs its OCoin token on the TRON network.
  • ZAG-S&W: A corporate law firm associated with the project to protect digital assets accepted by customers via the TRON network.
  • Bitmain: A leading company in the production of ASIC chips used in Bitcoin mining.
  • …

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6. FAQS ABOUT THE TRON PROJECT AND ITS TOKEN

Below is a summary of frequently asked questions about the TRON project and its TRX Coin:

6.1. Where can I get the latest news about the TRX Coin project?

Investors can stay updated on the latest news about this project through the following communication channels:

6.2. On which exchange platforms can investors buy and sell TRX Coin?

As of now, TRX Coin has been listed on many cryptocurrency exchanges, notably Binance, Kucoin, Huobi Global, Gate.io,… Among them, Binance is the broker with the highest trading volume.

6.3. Should I invest in TRON?

Let’s take a look at the price fluctuations of TRX Coin in recent times:

So, is it worth investing in TRON Coin?

To answer this question, you need to define your purpose for buying the TRX token. If you are a user of applications on the TRON Blockchain, you need to purchase TRX for payment and swapping tokens for usage within the platform. If you are a long-term investor, you may also consider buying and staking TRX to generate passive income.

However, if you are a long-term investor looking for future blockchain platforms, you need to closely monitor and research this project further. Also, always remember: before making any investment decision, do thorough research and never invest more money than you can afford to lose.

7. SUMMARY

Through this article, Finance Solutes has shared with you the most fundamental information about what Coin TRON is, its unique features, and the potential of the TRX Token in the future. Hopefully, with the knowledge provided, you now have a comprehensive and accurate overview of this promising project.

If you have any further questions about today’s topic, feel free to leave a comment below the article and we will get back to you immediately.

Wishing you success!!!

🌍 Finance Solutes
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