Tron - A cryptocurrency to pay for entertainment

The Tron cryptocurrency (TRX) was created in order to cooperate with the so-called Internet 3.0. With TRX, it will be possible to pay for games, movies and music, while avoiding external control. The Code of the Throne is largely based on Ethereum.

We continue our series of descriptions of the world's most popular cryptocurrencies. Today it's time for the Tron - a controversial cryptocurrency of Chinese origin. Each month, more cryptocurrencies are created, but only some of them gain publicity and interest. How to get it? Most often this is successful when there are big names or companies behind the project. Others focus on a specific competitive advantage or narrow specialization. This is also the case with the TRX. This decentralized platform based on blockchain technology was created to facilitate payment for entertainment. It is intended to be a place where creators will offer music, games or films to recipients without intermediaries. Payment will, of course, be made using Tron tokens. Internet 3.0 is to be based on entertainment, fast payments and freedom of access.

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How Tron was created, or USD 70 million in a month

The collection of funds for the development of the Tronix platform began on August 31, 2017 and ended with great success after a month. It was enough time to collect as much as USD 70 million, which was paid for 40 percent. tokens from the target number set at 100 billion units. During the ICO, you had to pay USD 0,0019 for each token, because payments were of course made in other cryptocurrencies - Bitcoinie i Ethereum.

On the resulting Tronix platform, you can add applications on your own blockchain. THIS is to ensure the privacy of users, but also expand the system's capabilities. Works similarly e.g. Ethereum and no wonder, because Tron took a lot of elements from the Ethereum code in its open-source code. THIS means that technically it is certainly not an innovative project. Despite this, the plans are to provide scalability, which will reach 2 jobs. transactions per second.

Behind the TRX token and the Tronix network is Justin Sun, who was one of the creators of the project Ripple, still owns the popular Chinese chat application PEIWO, and recently also the p2p BitTorrent platform, which will soon be integrated with TRON.

How does TRX work?

Initially, the TRON token operated on the Ethereum blockchain. In June 2018, it switched to its own blockchain, which is to ensure the aforementioned high scalability. There are no miners in the TRON network to mine and approve blocks, but there are delegates who take care of their approval. This is 27 people elected by cryptocurrency holders, and relying on the fact that the number of votes depends on the number of tokens held. The so-called Super Reps get paid for approving each block and adding each transaction to the chain - 32 TRX.

TRON Capitalization

Tron tokens can be purchased on virtually every cryptocurrency exchange in the world. They are available in pairs not only with other cryptocurrencies, but also with fiat currencies. As of 29.12.2019/0,13/897, one TRX is priced at $ 66. This translates into a capitalization of over USD 100 million with just over 05.01.2018 billion units available so far (the target will be 0,30 billion tokens). The record value of TRX was reached on January 800, XNUMX, when one token cost $ XNUMX. TRX is at the forefront of cryptocurrencies in the world in terms of popularity, capitalization and turnover, which reaches over USD XNUMX million per day.