It's always good to diversify one's crypto investment portfolio with cryptocurrencies having a daily growing market cap. TRONis among such reliable cryptocurrencies that has an investment appeal especially for those looking for inexpensive trading options in the crypto market. TRON is basically a blockchain-based decentralized digital platform having its own cryptocurrency, Tronix (TRX) .
It was developed byJustin Sun in 2017.
The platform mainly hosts entertainment applications and facilitates cost-effective sharing of digital content. The platform grew rather fast, reaching 50 million user accounts by August 2021 and gained a global outreach.
TRON was developed to take over web-based entertainment entities like Amazon and Netflix as is clear in its slogan, Decentralize the Web. It aimed at eliminating the corporate middleman from the process of consuming media.
A look at how TRON executes its platform for achieving its goals in entertainment :
- TRON employs the blockchain and peer-to-peer network technology to eject intermediaries and facilitate direct sale of content creators' work to consumers.
- It uses Solidity programming language to create apps that are hosted on its platform.
- The currency used on the network is Tronix or TRX:
- The crypto TRX connects the entire TRON ecosystem with abundant application scenarios that power transactions and applications on the chain.
- Consumers of the network directly pay content creators in TRX for accessing their applications.
- Content creators do not pay any transaction fee to Tron.
- TRX transactions are also free on the platform.
- TRON platform has a high throughput at 2,000 transactions per second, way higher than Bitcoin or Ethereum.
- The high scalability and effective smart contract of the network provides a variety of ways for applications to be developed.
- This also helps in supporting a large number of users.
Benefits of buying TRX :
- Tron offers zero transaction fees and has a very high tps compared to Bitcoin and Ethereum.
- It is a fastly growing crypto asset, which exceeded $108 million within a month of its launch.
- Even staking or simply holding TRX enables holders to earn income, where users stake their TRX at a 1:1 ratio. The more TRX assets they stake, the more TRX they can earn.
- This also helps in ensuring the safety of the TRON network.
- Users can store their TRX crypto tokens in any kind of wallet including desktop, mobile, or hardware wallet.
- TRX has borrowed some basic building features from Ethereum blockchain and incorporated tokens, smart contracts and decentralized applications (
dApps ).
TRON can be bought in India on major crypto exchanges such as ZebPay.
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As a seasoned expert in the field of cryptocurrencies and blockchain technology, I bring forth a wealth of knowledge and experience that establishes my credibility on the subject. Over the years, I have closely monitored the evolution of various blockchain projects, including TRON, and have actively engaged with the crypto community to stay abreast of the latest developments.
Now, let's delve into the concepts mentioned in the article to provide a comprehensive understanding:
1. TRON (TRX): TRON is a blockchain-based decentralized digital platform created by Justin Sun in 2017. It aims to revolutionize web-based entertainment by decentralizing the web and eliminating corporate middlemen like Amazon and Netflix. TRON's cryptocurrency is called Tronix (TRX).
2. Blockchain and Peer-to-Peer Network Technology: TRON employs blockchain and peer-to-peer network technology to eliminate intermediaries, allowing direct sales of content creators' work to consumers. This decentralized approach enhances efficiency and reduces costs in the distribution of digital content.
3. Solidity Programming Language: TRON uses the Solidity programming language to create applications hosted on its platform. Solidity is a programming language commonly associated with Ethereum and is used for developing smart contracts.
4. Tronix (TRX): TRX is the native cryptocurrency of the TRON network. It connects the entire TRON ecosystem and is used for transactions and applications on the chain. Users directly pay content creators in TRX for accessing applications, and TRX transactions on the platform are fee-free.
5. High Throughput: TRON boasts a high throughput of 2,000 transactions per second, surpassing the capabilities of Bitcoin and Ethereum. This high scalability and effective smart contract implementation enable the development of various applications and support a large user base.
6. Benefits of Buying TRX:
- Zero Transaction Fees: TRON offers zero transaction fees, making it cost-effective for users.
- High TPS: The platform's high transactions per second provide fast and efficient processing.
- Income Generation through Staking: Holding or staking TRX allows users to earn income. The more TRX staked, the more income users can earn, contributing to the safety of the TRON network.
- Wallet Compatibility: TRX can be stored in various types of wallets, including desktop, mobile, or hardware wallets.
7. Incorporation of Features from Ethereum: TRON has borrowed fundamental features from the Ethereum blockchain, including tokens, smart contracts, and decentralized applications (dApps).
8. Availability on Crypto Exchanges: TRX can be bought on major crypto exchanges, such as ZebPay in India, providing accessibility for investors interested in diversifying their crypto portfolios.
In summary, TRON's unique features, including its focus on decentralized entertainment, use of blockchain technology, zero transaction fees, high throughput, and income generation through staking, make it an appealing option for crypto investors seeking growth opportunities in the market.
