We've already learned all about Bitcoin, Ethereum, Litecoin and Tether. It's important to move to TRON (TRX).
The history of TRON began with the development of its native cryptocurrency, TRX, which is used to secure the platform's transactions. Since then, TRON has evolved into one of the most significant blockchain-based platforms in the world, having a market cap of over $9 billion (as of May 2024).
TRON (TRX) and the history of its development
TRON (TRX) is a cryptocurrency that operates through a decentralized platform. The history of TRON (TRX) began in 2017 with Justin Sun. He is a celebrated figure in the cryptocurrency world and is most well-known as the creator and CEO of TRON. TRON (TRX) was intended to serve as a platform for developers to create and develop decentralized apps (DApps) and smart contracts.
The main concept of TRON is to create a worldwide digital entertainment system for content. It facilitates the publishing, storage and distribution of content without the need for middlemen, such as YouTube or Netflix. TRON employs the native cryptocurrency TRX as the means to exchange content between creators and users.
Since its release in 2017, TRON has become one of the most popular blockchain platforms in the world. In January 2018, TRON announced the acquisition of BitTorrent, a platform that allows users to share files with others. Later on, TRON released its TRC20 main net, which permitted the platform to operate without the Ethereum blockchain (TRON was previously based on the Ethereum blockchain (ERC20)). This motion facilitated the TRON's ability to become more portable and effective, allowing for faster transactions and lower costs.
In 2019, TRON continued to enhance its ecosystem by releasing a new tool: BitTorrent Speed, which promotes the sharing of files over the BitTorrent network. In 2020, TRON partnered with Samsung to incorporate TRON-based decentralized applications (DApps) into blockchain-based smartphones. Additionally, TRON has released its own stablecoin that is tied to the value of the US dollar - USDJ.
In 2021, TRON continued to expand its platform by releasing several new apps, including JUST NFT, a platform for buying and selling non-fungible tokens (NFTs), and JUST Game, a decentralized game platform.
These are just some of the significant events in the history of TRON. Since its founding, TRON has dedicated itself to creating a decentralized platform for content creators and consumers, it has additionally continued to grow its ecosystem through partnerships.
Features of TRON (TRX)
Blockchain technology
TRON is derived from its blockchain-based technology, which guarantees a secure and transparent ledger for all transactions. This technology ensures that all transactions are recorded safely, providing users with confidence in the safety of their finances.
Smart contracts
Another unique aspect of TRON is the ability to create smart contracts. It allows the creation of decentralized applications (dApps) that can be executed on the TRON network. These apps are capable of performing a variety of functions, including entertainment, gaming, and financial or medical-related functions. The versatility of the TRON smart contract enables developers to create custom solutions that satisfy the specific requirements of their users.
TRC-20
Ultimately, TRON also owns a token named TRC-20. Its purpose is to ensure transactions on the TRON network, as well as access to services provided by dApps on the platform.
Advantages and disadvantages of TRON (TRX)
Advantages:
➕ Allows content creators to publish, store and distribute content without having to pass through a middleman, which increases their control over their work.
➕ Has a fast processing time for transactions (2000 transactions per second) and a low cost for transactions.
➕ Has a large and diverse community of developers and supporters who promote and facilitate development on the platform.
➕ Partnerships that are guaranteed by well-known companies in the entertainment industry that promote awareness.
➕ Allows developers to create dApps based on the platform.
Disadvantages:
➖ Similar to other cryptocurrencies, the value of TRON is dependent on the supply and demand and can be highly erratic and volatile.
➖ Is unclear in many parts of the world, which may have an effect on the implementation and utilization of TRON in the future.
➖ Implementation that is limited in comparison to more popular platforms like Bitcoin and Ethereum.
➖ Some critics of the TRON network have questioned the centralization of the network, specifically regarding the distribution of TRX tokens.
Where to buy TRX?
TRX can be purchased on various cryptocurrency exchanges such as Binance, Coinbase or Kraken, or through cryptocurrency wallets.
We recommend Kolo, a reliable and secure multi-currency platform. With its help, you can not only buy TRX quickly, but also store it in your account or exchange it for BTC, ETH, LTC, USDT and fiat currencies.
To purchase TRX, you need to follow these steps:
1. Go to the Kolo website and log in to your account.
2. Visit the Exchanger section in your profile and choose the Buy crypto section.
3. Enter the desired amount of TRX and provide your TRX wallet address
4. Add all the necessary personal information. After that, confirm the purchase.
Conclusion
With advanced blockchain technology, smart contract functionality, and a special token, TRON is a powerful platform that is appropriate for a variety of users. It's a promising platform that could disrupt the entertainment industry by offering a new way to distribute content that is decentralized. However, like any cryptocurrency, TRX has its drawbacks. As a result, it's worth studying every aspect of it in detail and making an educated decision about the purchase. Ultimately, you are the sole decision maker regarding your finances.
