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Tron TRX: 8 Things To Be Known About Cryptocurrency

19 February 2022

The cryptocurrency market is now flooded with numerous altcoins. TRON (TRX) is one such altcoin that has garnered much popularity lately. It has managed to become one of the most talked-about cryptocurrencies due to some of the unique technical aspects that it comes with.

The following sections include various interesting details that one should know before investing in TRON cryptocurrency

A Brief Overview of TRON

TRON is a decentralised operating system similar to Ethereum, which was built to help bring in a decentralised Internet. Developed in 2017, TRON was designed originally to offer total ownership over content created by digital content creators. TRON offers a decentralised platform for content distribution.

TRON is now one of the fast-growing blockchains, and it comes with over 73 million accounts and a transaction count of 2.8 billion . It claims to handle as many as 2,000 transactions per second, whereas Bitcoin can handle up to 6 transactions per second.

The TRON cryptocurrency platform supports various kinds of blockchain systems and smart contract networks. This blockchain is created to support its native token, known as Tronix.

How Does It Function?

The transaction of TRX coins takes place on a public ledger, just like other virtual currencies. The history of every transaction can be traced back to the very first transaction on this ledger. TRX uses a transaction model which is similar to that of Bitcoin’s, called UTXO. 

What Is the History of TRON?

Justin Sun, the founder and CEO of Peiwo, is the creator of TRON. Peiwo is the biggest voice streaming platform in China. Sun also worked with another cryptocurrency, Ripple, where he served as the Chief Representative for Greater China.

He successfully integrated TRON into Peiwo within a few months of its launch in 2017, which helped it expand its active user base.

Top Features of TRON

Here are some of the significant features of TRON:

  • Infrastructure: TRON primarily includes a decentralised infrastructure with a gaming system, forecasts, distributed exchange and autonomous gaming.
  • Personal ICO: A user can distribute any digital asset which others can purchase to enjoy the services and benefits.
  • Data freedom: There would be a complete liberation of data. One can upload, share, and distribute content among all users on an unrestricted basis.

What Are the Risks?

Cryptocurrencies are highly risky investments, prone to extreme price fluctuations. Since these digital currencies work on a decentralised platform, one cannot report to a regulator in case transactions are not settled. This can lead to manipulation of the market. 

In addition, there is a constant risk of hacking and cyber-attacks on the investors. Investors who are directly involved with transactions often become targets of hackers.

TRON Cryptocurrency Price

TRON coins sold for about USD 0.0021 for a single coin as of December 2017. Almost one month down the line, TRON showed significant improvement with a single coin valued at USD 0.021 in January 2018. This was a massive 1,000% jump within just thirty days.

At the time of writing, TRON is trading at USD 0.054293 per coin.

Final Word

TRON cryptocurrency has become one of the new buzzwords in the world of cryptocurrency. While it does present several unique technical aspects such as higher transactions per second as compared to its peers, it should also be noted that investing in cryptocurrencies is generally considered to be very risky. 

It is important to conduct your own research from various sources and invest as per your personal investment goals and risk appetite. 

We hope you found this article informative. 

Disclaimer: The content presented here is only for educational and informational purposes. It is not intended to be advice on what to buy or sell. 

 

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