Creators heavily rely on internet giants such as Netflix, Google, Spotify and more to publish their content. However, these platforms take a chunk of profit from artists and demand expensive charges. In short, they can control how they pay and publish people for their works. What the TRON platform aims to do is give full ownership to content creators.
If you want to learn more about this platform, keep on reading here in Casinodays India to learn about Tron cryptocurrency.
What is Tron crypto
Justin Sun, who developed TRON, created the TRON foundation to create a decentralised platform to eliminate middlemen and allow creators to get paid if their content generates likes.
The Tron platform uses the token TRX or Tronix, which can be used to purchase and pay for digital content and can also be used to exchange to other cryptocurrencies.
Tron is a rising decentralised blockchain with TRX as its native currency; therefore, it’s affordable to purchase one TRX. As of writing, one TRX costs $0.06641 with a market value of $6,763,462,560 and a circulating supply of 101,779,758,148. It’s safe to say that entering this realm of crypto allows you to dive into a new world and explore the possibilities.
How does Tron crypto work?
Tron follows a Proof of Stake or PoS protocol to process transactions within the network and elects 27 super representatives as nodes to validate data. Every 6 hours, they are changed and receive TRX as incentives for keeping the blockchain up and running.
Additionally, since it eliminates middlemen, content creators and consumers can directly interact and process transactions without paying high fees.
What is the ecosystem of Tron crypto?
The ecosystem of the Tron network is composed of 3 architectures, such as storage, application and core. They function to make the platform run at full capacity:
- Storage – The storage layer of the crypto platform is where all the data is stored securely. Keep in mind that the data related to the blockchain is also stored here.
- Application – The application layer is where the developers improve and develop applications for the TRON platform
- Core – The core layer of the TRON platform is where all the instructions are processed. These instructions are written into 2 languages: Solidity and Java. After the instructions are sent to the core area, it is then transferred to the TRON virtual machine where all of the applications are applied.
Features of Tron crypto
Just like with other digital currencies, Tron cryptocurrency has various features that make them stand out. Check out some of them below:
Allows you to make fast transactions
What makes TRON popular among users is that it can process up to 2,000 transactions per second.
Enables you to create dApps
One functional feature Tron has is that it enables creators to make decentralised apps on the network and receive incentives. Also known as DApps, these applications don’t require the presence of third parties.
Zero transaction fees
TRON offers zero processing fees since it runs on a P2P network where there is no middleman. You can immediately perform all your transactions in a quick, easy and accessible manner without worrying about it taking a chunk of your funds.
Supports gaming features
A feature that is still in development in the TRON platform is it supports creators to upload their games and make them decentralised. Through this, creators can generate income when people play their games without their profits suffering from paying fees to platform giants who charge them for featuring their works.
Secure transactions
Tron’s most essential security feature is the delegated proof-of-stake consensus process, which is used by the whole network.
Every six hours, the validators on the network rotate, and new validators are chosen to princess transactions. Additionally, they participate in the Bug Bounty Program wherein they combat the seemingly endless stream of faults that may be associated with software development.
Keep in mind that the Tron Foundation offers considerable TRX rewards for any defects or vulnerabilities that are found by the community.
What makes Tron unique?
What makes Tron stand out from its competitors is that it gives a new perspective and goals to the market by enabling content creators to share their work and earn.
Furthermore, it’s an easy way for them to post their content without the hassle of paperwork from authorities.
Other than functioning as a currency, TRX may also be used as a store of value or investment. However, the token’s principal use is in the development and consumption of decentralised applications (dApps) on the blockchain.
‘Tron Power,’ or TP is a unique award that may be earned by securing tokens. It also provides the user with the option to vote on the decisions made by the network, in addition to a better ranking on the network. A person’s voting power depends on the quantity of TP that they get while their assets are locked away.
Where to store and buy Tron crypto?
Due to high demand, Tron is now available on several exchanges and wallets. Users now have a wide variety of choices based on their preferences.
According to the TRON foundation website, there are numerous cryptocurrency exchanges where TRON can be bought and sold. Check out some of them on the list below:
- Binance
- Bittrex
- Coinnest
- Counegg
- Gatecoin.
Is Tron crypto worth trying?
Tron is one of the most important currencies today as it offers a way to revolutionise the sphere of content sharing. It opens a lot of possibilities for both users and creators and nurtures a space where both can benefit from each other more cost-effectively and efficiently by eliminating third parties. If you’re a fan of consuming online content and you’re looking for a way to lessen fees, then Tron is a token that can help you achieve that!