What is Tron (TRX)?

Tron is a open source decentralised blockchain-based operating system with smart contract functionality. It is secured by a proof-of-stake consensus mechanism and has its own cryptocurrency, Tronix (TRX). It was established in March 2014 by Justin Sun and since 2017 has been overseen and supervised by the TRON Foundation, a non-profit organisation in Singapore, established in the same year. It is now a coin, but it was originally a token on the Ethereum blockchain. In June 2018, Tron launched its own mainnet and migrated all ERC-20 TRX tokens to the new network.

How does it work?

Tron works by using a decentralised network of computers to verify transactions. This network is secured by a proof-of-stake consensus mechanism, which means that users who stake TRX tokens are rewarded for verifying transactions.

Tron Stake 2.0 is a new staking mechanism that was introduced on April 7, 2023. It is a more flexible and efficient staking mechanism than Stake 1.0.

Here are some of the key features:

• Flexibility: Users can now stake any amount of TRX, and they can unstake their tokens at any time.
• Efficiency: The new staking mechanism is more efficient, which means that users will earn more rewards for staking their tokens.
• Simplicity: The new staking mechanism is simpler to use, which makes it easier for users to participate in staking.

What are the benefits of Tron?

There are several benefits to using Tron, including:

• Low transaction fees: Tron has very low transaction fees, which makes it a cost-effective way to transfer value.
• Fast transactions: Tron can process thousands of transactions per second, making it a fast and efficient way to send and receive payments.
• Scalability: Tron is designed to be scalable, so it can handle increasing demand for transactions.
• Security: Tron is secured by a proof-of-stake consensus mechanism, which is considered to be more secure than proof-of-work consensus mechanisms.

How is TRX used?

TRX can be used for a variety of purposes, including:

• Making payments: TRX can be used to make payments for goods and services.
• Staking: TRX can be staked to earn rewards for verifying transactions.
• Governance: TRX holders can vote on proposals that affect the Tron network.
• Investing: TRX can be purchased and held as an investment.

Where can I buy TRX?

Chances are that you can buy TRX on your favourite cryptocurrency exchanges. It is certainly available on Nexo.

Our thoughts

Is Tron a good investment?

Careful… that is a matter of opinion so I will share my own. My personal opinion is that this blockchain is an excellent place to launch a new token. We have listed several projects on this site that are part of the Tron ecosystem.

What is the future of Tron?

We don’t claim to be able to foresee the future. However, the Tron Foundation has ambitious plans for the project, including the development of a decentralised entertainment platform and a decentralised gaming platform. The Tron Foundation already a major player major player in the cryptocurrency industry.