While many know of the cryptocurrencies Bitcoin and Ethereum, a currency that is just as well-known, but underrated is TRON or TRX. Having been on the market for a couple of years, we are expected to see the cryptocurrency rise to the top, as more and more people are discovering the platform. If you wish to know more about the blockchain-based platform, keep reading.
The History
In 2017, the Chinese entrepreneur Justin Sun founded TRON as well as the nonprofit, the TRON Foundation. In the beginning, TRON was building its own blockchain, but was on the Ethereum blockchain, but changed to its own blockchain, which was developed shortly after TRON was established. TRON also purchased the file sharing service BitTorrent for 140 million dollars with the intent to turn it into a fusion between Netflix and Spotify. From there, TRON continued to up their game.
However, TRON has been met with accusations. In 2018 there were claims that parts of the white paper of TRON were copied from white papers. There were also accusations of TRON violating a license, which was denied by the TRON Foundation.
How TRON Works
TRON is a blockchain-based contract platform with the intent to decentralize the internet. In the beginning, TRON would focus on content sharing and entertainment. Therefore, the platform powers decentralized applications or DApps like games and visual entertainment, and it is primarily driven by gaming DApps. The token Tronics, also called TRX, is also used often.
All the data on the TRON blockchain are free and not controlled by other authorities. If you are a content creator, you can also gain TRX tokens as a reward, and creators can also create their own tokens.
Buying TRX
You can either buy TRX by swapping them for other cryptocurrencies or by buying it through a credit card. Check out this website on how to buy TRON, if you want to get a broader insight and more tips on where to buy the token.
In order to buy TRX, you can either buy it through centralized or decentralized cryptocurrency exchanges. A centralized exchange is a direct exchange between buyer and seller like Binance. A decentralized exchange, however, doesn't include a single entity, and therefore, transactions happen through decentralized apps and the like.
There are differences, which could decide your choice:
● Decentralized exchange is private, anonymous, and safer
● A centralized exchange is more user friendly and is faster
The Future of TRON
TRON or TRX has potential, because it is still one of the more well-known cryptocurrencies, as it is faster and more accessible than some of its competitors. Although it can be difficult to predict the success of cryptocurrencies, experts still have their predictions with TRX. TRX has experienced price fluctuations, as it depends on the decentralized application market, but seems to grow the right way.
Investors are still excited about the cryptocurrency, as the development of DApps can set the future for their success. Many also have faith in TRX because of the leadership of Justin Sun. Therefore, an investment in TRX tokens is a testament to new developments in the cryptocurrency market.
