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 interesting details that one should know before investing in TRON cryptocurrency.
TRON is a decentralised operating system similar to Ethereum, 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. Instead, TRON provides a decentralised platform for content distribution.
TRON is now one of the fast-growing blockchains, with over 73 million accounts and a transaction count of 2.8 billion. In addition, 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 blockchain systems and smart contract networks. This blockchain is created to support its native token, known as Tronix.
TRX coin transactions occur on a public ledger, just like other virtual currencies. The history of every transaction can be traced back to the first transaction on this ledger. TRX uses a transaction model similar to that of Bitcoin, called UTXO.
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.
Here are some of the significant features of TRON:
TRON primarily includes a decentralised infrastructure with a gaming system, forecasts, distributed exchange and autonomous gaming.
Users can distribute any digital asset others can purchase to enjoy the services and benefits.
There would be a complete liberation of data. One can upload, share, and distribute content among all users unrestrictedly.
Cryptocurrencies are highly risky investments, prone to extreme price fluctuations. Moreover, since these digital currencies work on a decentralised platform, one cannot report to a regulator if 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 has become one of the new buzzwords in the cryptocurrency world. While it presents several unique technical aspects, such as higher transactions per second compared to its peers, it should also be noted that investing in cryptocurrencies is generally considered very risky.
Conducting your research from various sources and investing as per your personal investment goals and risk appetite is essential.
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.