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Know What is Tron (TRX)

Know What is Tron (TRX)

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Kanalcoin.com – Cryptocurrency consists of many types of coins, one of which is Tron. So what is Tron? Is there a difference between Tron circulating in cryptocurrencies and TRX Tron? This article goes into more detail about Tron for more information. From understanding how it works, to the price of the Tron coin itself.

What is Tron?

Until now, there are still many crypto-activists who are foreigners and do not understand what Tron is. Tron is a decentralized platform that uses blockchain technology. This platform has a peer-to-peer (P2P) system, which aims to build a digital entertainment content system.

The Tron platform allows you to share your content anywhere, anytime. In addition, you will be rewarded for the content you create when it is shared publicly.

The Tron platform also gives users the flexibility to fully control their data. Unlike other platforms, where data is stored and managed by the authority of the platform. So you don’t have to worry about data leaks.

What is Tron and how did it come about?

Once you know what Tron is, you should also know its history. Tron was founded by the Singapore-based non-profit organization Tron Foundation in September 2017. The company is led by CEO Justin Sun. Justin Sun is a protégé of Jack Ma, the owner of Alibaba, the world leader.

Justin Sun is also the founder and CEO of Peiwo, a viewing app with over 10 million users. Tron has the principles of openness, fairness and transparency.

Besides Justin Sun, Tron’s CTO Lucien Chen, CTO Keelson Yang, and developer Xie Xiaodong are key to Tron’s success. Justin Sun’s multiple achievements earned him inclusion in Forbes magazine’s “China Under 30” and “Asia Under 30”.

Tron is listed cryptocurrency exchange with a blockchain network called TRX. Tron first entered the CoinMarketCap crypto asset market on September 13, 2017. The initial price of Tron coin is US$0.0002.

Tron coin had reached its highest price on January 5, 2018. At that time, the highest price was 0.30 US Dollars or four thousand rupees.

What is Tron and how has it evolved?

Looking at the details of Tron, we can’t rule out its evolution. Within one year, Tron had entered the top ten cryptoassets based on market cap data. If previously the main network of Tron tokens was ERC20, now the token has moved to the TRX network.

This crypto-asset is a solution that removes the middleman between content creators and content audiences. In this way, the costs charged to the content experts are more efficient, because no cuts are made to the content brokers.

For example, Netflix app is an intermediary application between filmmakers and moviegoers. Moviegoers have to pay a subscription fee, which is actually a fee for the Netflix app broker.

On the Tron platform, viewers of videos do not have to pay commissions, as in the case of the Netflix app. In this way, the cost of enjoying the content is much more efficient and affordable.

In addition, the advantage is that the content producer receives the full cost of the content audience. So no chunks are reserved for intermediaries like the Netflix app.

The costs obtained in this way are much higher, because no discount fees are charged to the brokers. All content fees paid by content viewers go to content creators on the Tron platform.

What is Tron and how is it different from Tronix (TRX)

Although it looks the same, you need to understand the difference between Tron and Tronix. Both are something different. If Tron is the platform, then tronix is ​​the crypto or coins used on the Tron network. You can buy Tron coins with other crypto asset exchanges like ETH or BTC.

Content viewers use this Tronix to pay for content shared by content creators. Content creators who accept these TRX coins can exchange them for other cryptocurrencies or pay for blockchain services.

How Tron works

Understanding Tron isn’t enough because you also need to understand the mechanics of how it works. The coins earned by the content creator using Tron are fully owned by the content creator. Like other apps, there are no discounted fees for content brokers.

In addition, data management is completely owned by the users of the Tron platform. So you don’t have to worry because there will be no more incidents of data leakage. At the same time, TRX transactions have similarities with Bitcoin crypto asset transactions. The difference is that Tron has an additional security system when users make transactions.

The stages of Tron

After learning what Tron is, you should also study the Tron roadmap to be more confident about investing in it. For now, Tron is a long-term project with 6 phases planned until 2027.

2018 was the final phase where Tron focused on freeing up information. At this stage, Tron is building several things such as upload, storage and distribution mechanisms based on peer-to-peer and decentralized content.

The next phase is called the Odyssey phase. This phase lasts 18 months and focuses on content validation. Tron wants content creators to be compensated fairly. The return starts with the creation, distribution and dissemination of content.

After the Odyssey phase, Tron has four more phases namely Great Voyage, Apollo, Star Trek and Eternity. At this point, the goal is to see how individual ICOs are launched using the Tron 20 standard, creating a prediction platform and decentralized gaming.

The future of Tron

Of course, a discussion of what Tron is is incomplete without discussing Tron’s predictions and future development. Tron’s long-term vision is to create a more affordable digital content platform and connect it to the blockchain system.

If you look at the number of Alibaba-based developers who have joined Tron since the end of 2017, there are rumors that Alibaba and Tron are partnering. The public is waiting for the news as the functionality of Tron’s partnership with Alibaba is considered very interesting.

TRX price

Discussion on the topic The price of Tron definitely not to be missed if we talk about what Tron is. According to a report by Coinmarketcap, the price of TRX was $0.09522 in October 2021. Since the future of TRX is quite promising, it is not wrong to make TRX one of the crypto assets that you must own.

This was a look at what Tron (TRX) is, the history and evolution of Tron, the future of Tron, the price of Tron. Hope this article can help you to increase your knowledge about cryptocurrencies.

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