Tron (TRX)

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What is Tron (TRX)?

TRX, or Tronix, is the cryptocurrency of Tron blockchain, a platform created to host decentralized applications (DApps), run smart contracts, and accelerate the adoption of decentralized finance. Summing up, Tron came up with the idea of becoming a good ecosystem and an alternative to the Ethereum network.  In late 2021, Tron Foundation took an essential step towards decentralization by becoming a DAO (Decentralized Autonomous Organization). Currently, virtually all Tron management is carried out by its users and developers. 

 

What makes it unique

  • TRX is a Tron blockchain cryptocurrency, which can be used as a payment and reward for platform developers. 

  • It uses the proof of stake mining system, making the validation process faster and less costly. While Ethereum can process 25 transactions per second (tps), Tron blockchain can process 2000 tps. 

  • TRX is limited in supply to a total of 100 billion units. 

  • Within the Tron ecosystem, TRX holders can lock their assets on the platform and act as transaction validators, the “super representatives.” In this way, they receive more TRX as a reward. 

 

Purpose

TRX is a Tron blockchain cryptocurrency. Also known as Tronix, TRX is used as a means of payment for the platform and to reward developers who work on the Tron network. 

 

Sources of knowledge

 

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