What is Tron (TRX) Coin? Full details [2022] | What is Tron or TRX Coin?

What is Tron or TRX Coin?

Do you want to know what is Tron Coin? how does it work? And who made it, then definitely read this post completely, the answer to all your questions will be found in easy way–

What is Tron Coin? – What is Tron or TRX Coin?

Tron is a blockchain-based decentralized digital platform that has its own cryptocurrency , called Tronix or TRX. Founded in 2017 by the Tron Foundation, a Singapore-based non-profit organization, Tron aims to host a global entertainment system for the cost-effective sharing of digital content.

Initially marketing primarily in Asia ,  Tron has now gone global. The platform had over 50 million accounts as of August 2021.

Tron was founded by Justin Sun and is now its CEO. Tron has offices in Singapore and San Francisco. Born in 1990, Justinson is also the CEO of BitTorrent, a file sharing program.

Tron utilizes the features of blockchain and peer-to-peer (P2P) network technology to eliminate the middleman and allow content creators to sell their work directly to consumers. Software developers use the Solidity programming language to build apps hosted on the Tron platform.

The currency used on the network is Tronix or TRX. Users of the network use TRX to directly pay content creators to access their applications. Content creators do not pay transaction fees to Tron. ( TRX transactions are also free on the platform.)

Users can store their crypto-assets in a desktop, mobile or hardware wallet.

Tron and Ethereum blockchain

The Tron network structure has been compared to the Ethereum platform, and it uses some of the same basic building blocks, such as decentralized applications (dApps), smart contracts, and tokens. 

There are signs that Tronix and Ethereum are becoming competitors for cryptocurrency traders' business. The supply of USD Coin, a cryptocurrency pegged to the US Dollar, exceeded $108 million in less than a month of support circulating on Tron.

“This could be another sign that crypto traders are increasingly turning to blockchains, which offer cheaper transaction fees with faster speeds than Ethereum,” Coindesk reported in July 2021.

According to CoinRanking.com, as of August 5, 2021, TRX was ranked 31st among cryptocurrencies by market capitalization. It was priced at $0.0705, giving it a market capitalization of $4.66 billion. Its all-time high on that date was $0.2180.

Tron provides alternative platform for digital media sharing

Currently, almost all digital media are hosted by intermediaries. For example, you have to use the App Store to download apps. These companies provide a platform for creators to share their work with consumers but charge a fee to the creator or consumer.

Tron removes the need for the middleman by providing a medium for creators to share their content directly with consumers. All data is cryptographically secured via the blockchain, while allowing creators to take full advantage.

It will also protect privacy as the content will always be with the creators.

Tron's Capacity

Tron was created as a direct challenge to the media industry, which includes web-based giants such as Amazon and Netflix. Its slogan is "Decentralization of the Web" and aims to remove the corporate middleman from the process of media consumption.

Beyond the current cryptocurrency boom, of course its future success depends at least in part on the quality of programming it brings to its users.

We hope that after reading this post your question is What is Tron Coin? And you must have got the answer of who made it.