Need To Know About TRON

All You Need To Know About TRON (TRX): Features And Prospects

Founded by Justin Sun in 2017, TRON is now one of the most popular Blockchains operating systems for the development of DApps. The team of developers at TRON that includes experts from several nations like Japan, the USA, and China is headed by Kilson Ian, the computer science specialist from Beijing. With 40 experts in the team, TRON is one of the most ambitious Blockchain-based projects in the world. The TRON token is listed on several popular exchanges like Binance, Coinbase, Poloniex, KuCoin, and Bancor. It employs the delegated proof-of-stake consensus mechanism for verification of transactions. If you are seeking new and innovative assets for investment, then read on to acquire in-depth information about TRON’s decentralized platform.

What is TRON: just a cryptocurrency or an incredible blockchain project with diverse applications?

TRON is an advanced Blockchain technology-based platform that enables smooth sharing of content and entertainment. TRON acquired BitTorrent in 2018 to provide a state-of-the-art file sharing service to its clients. TRON has categorized its objectives into six states. These different states include delivery of simple distributed file sharing service, enablement of content creation through monetary rewards, creation of a platform for enabling content creators to introduce their tokens, and lastly, providing services for the decentralization of the gaming industry.

TRON’s Cryptocurrency

The Tron network uses its cryptocurrency called Tronix (TRX). One can purchase Tronix on exchanges like Liqui and Binance by exchanging them for other cryptocurrencies like ETH or BTC. Purchase with fiat currencies is not possible at present. It can be stored on wallets that support the Ethereum blockchain like MyEtherWallet. Tronix can be used by content consumers to pay for the content they want to access. These coins would then go to the content producers’ accounts, where they can be exchanged for other cryptocurrencies or can be used to pay for blockchain services.

TRON Power

TRON users will be able to acquire TRON Power by locking their TRX tokens away for an extended period of time. The longer you hold onto your TRX tokens, the more TRON Power you will receive. TRON Power holders will enjoy greater privileges in the TRON ecosystem, including voting rights. 

TRON 20

Holders of the TRON 20 token can participate in the design and development of their own coins to operate and play the games that run on the platform of TRON.

The platform also facilitates payment in Bitcoin, Ether, and Qtum to make it more convenient for the users.

Key Features

  • Net Neutrality and Data liberation. Tron’s intention is a fully democratic web space in which every creator is in control over their content. That is the core mission of Tron, in their Web 4.0 statement. We all have a stake in the web economy.
  • Point-to-point transactions – users and content creators can avoid centralized payment processors by using TRX.
  • Blockchain flexibility – in an effort to enhance its utility and liquidity, TRON supports several blockchain networks, including Ethereum, Bitcoin, Qtum, and EOS.
  • Gaming currency exchange – TRON will allow gaming companies to issue game-specific currencies that can be freely traded with other game publishers via TRON protocols.
  • Trust in gambling – TRON wants to add to the online gambling industry by creating a cross-platform system that provides authentication without going through centralized channels.

Is TRON Worth the Investment?

Tron crypto provides an alternative to Ethereum that is more efficient in terms of speed and ease of use. For this reason, it has experienced significant migration to its platform away from Ethereum. As more users migrate to Tron, more use TRX, which increases demand and price for it. The unconventional approach of its CEO, however, presents some risks, which, if mitigated, could prove beneficial for investors. As a currency closely linked to digital content, TRON takes a vantage point. It explains the coin’s steady growth since the launch of TRON mainnet in May 2018. Owing to the fact that TRX had no considerable ups and downs, it looks like a safe option for now. Looking ahead to the next few years for TRON, there are bound to be some better opportunities for the price of the TRX coin to grow as the project keeps expanding. 

TradingBeasts, for example, predicts that in January 2021, a price between $0.05-$0.08 may be expected and that by the end of December 2021, a high rise is expected at prices from $0.21 – $0.30. Determining TRX a good investment is based on how the project goes. 

If you are looking for virtual currencies with good returns, TRX can be a profitable investment option. Check out TRON Prediction by a crypto expert to get more details on it.

Final Thoughts

TRON has been successful in creating a space for content creators to establish a direct connection with the audience.  The project eliminates the need for centralized platforms like streaming services, music sites, and third-party app stores. Its prospects are also strengthened by a solid backing of rich and established Chinese investors. Tron’s clearly outlined long-term vision with date-tagged milestones, and the increasing popularity of digital content with the promise of lower costs makes it a promising endeavor in the blockchain space. Check out our daily TRX news to know more & stay updated about TRON (TRX).

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Anna Fernandes

Anna Fernandes has completed her graduation in journalism from Boston University and has been working as a lead journalist at tronnews.com. She also owns a personal blog where she writes content on journalists and there works.

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