TRON (TRX) is a decentralized operating system powered by blockchain technology, developed by the Tron Foundation and introduced in 2017. Initially, TRX tokens were based on the Ethereum ERC-20 standard, but they transitioned to their independent network a year later.
The project began with the mission of granting complete ownership rights to digital content creators. Its primary goal is to provide better compensation for content creators, who typically receive only a fraction of the revenue, by promoting direct rewards from content consumers, bypassing intermediaries like YouTube, Facebook, or Apple.
The TRON software is designed to accommodate smart contracts, various blockchain systems, and decentralized applications (dApps). This cryptocurrency platform employs a transaction model similar to Bitcoin (BTC), known as UTXO. Transactions are recorded on a public ledger, allowing users to track the history of operations.
TRON aims to build a decentralized Internet and offers developers a platform to create dApps, positioning itself as an Ethereum alternative. Anyone can develop dApps on the TRON network and offer content in exchange for digital assets as compensation. The ability to create and share content freely without worrying about transaction fees is a significant advantage of TRON.
Who Are the Founders of TRON?
Justin Sun is the founder of TRON and currently serves as its CEO. He studied at Peking University and the University of Pennsylvania and was featured in Forbes Asia's 30 Under 30 series for entrepreneurs.
Born in 1990, he has also been involved with Ripple in the past, where he served as the chief representative for the Greater China area.
What Makes TRON Unique?
TRON distinguishes itself as a platform where content creators can engage directly with their audience. By removing centralized platforms like streaming services, app stores, or music sites, the goal is to reduce the commission that creators lose to middlemen. This could also lead to more affordable content for consumers. As the entertainment industry continues to move towards digital formats, TRON may have an advantage in integrating blockchain technology into this space.
The company claims to have a skilled and experienced team of developers from around the world, including talent from major companies like Ripple Labs.
Moreover, unlike some other blockchain projects that can be vague about their future plans, TRON sets itself apart by providing a clear roadmap outlining its goals for the upcoming years.
How Many TRON (TRX) Coins Are There in Circulation?
TRON has a total supply of a little over 100 billion tokens. At the time of writing, about 71.6 billion of these are in circulation.
During the 2017 token sale, 15.75 billion TRX were allocated to private investors, while another 40 billion were reserved for participants in the initial coin offering. The Tron Foundation received 34 billion, and a company owned by Justin Sun received 10 billion.
Overall, this resulted in 45% of the TRX supply going to the founder and the project, while 55% was distributed among investors. Critics claim this is a higher ratio compared to other cryptocurrency projects.
How Is the TRON Network Secured?
TRON operates using a consensus mechanism known as delegated proof-of-stake.
TRX holders can freeze their coins to gain Tron Power, which allows them to vote for "super representatives" who act as block producers.
These block producers earn TRX rewards for verifying transactions, and the rewards are then shared with those who voted for them.
TRON asserts that this model helps its blockchain achieve higher throughput levels.
Where Can You Buy TRON (TRX)?
TRON can be purchased on numerous exchanges where it is listed, such as Poloniex, Bancor, KuCoin, Binance, Bitfinex, Coinbene, and several others. However, it is not available on Coinbase.
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