Decentralized web, Sun Network, and TRX. All you need to know about TRON in one place.
It is almost impossible to imagine a world without the internet but the centralized authorities are holding the power over content. TRON envisions a decentralized internet to unleash the maximum potential of the web and benefit both the content creators and consumers. Apart from that, the TRON platform gives users the opportunity to build their projects on in — it can be anything including services, shops, etc. With their aims, the TRON team achieved to make TRX the 3rd popular cryptocurrency in China. With the path-breaking Sun Network announcement, TRON has gathered even more attention from the crypto community in recent days.
ChangeHero brings you everything you need to know about TRON and TRX in one place — so you can find out how to use it and the benefits you can gain from it.
For the starters, TRON is a blockchain-based decentralized content distribution platform for the digital entertainment industry. The project aims to build a free, global network for content and storage. Founded by Justin Sun in 2017, Tron is designed to make content entertainment easier to sell for creators and cheaper for the consumers. Tron strives to bridge the gap between the content creators and users by eliminating the intermediary.
Initially, the platform was developed on the Ethereum blockchain and later the project announced TRON MainNet in May 2018. TRX short for Tronix is the native token of the platform originally developed leveraging the ERC-20 technology. After the MainNet launch, on June 25, 2018, all the TRX tokens were migrated to the proprietary blockchain. The iconic event is called TRON Independence Day.
TRON MainNet was launched with the sole purpose of building a decentralized internet and to build an ecosystem of smart contracts and Decentralized Applications (that are also called DApps). TRON supports high throughput, high scalability and high availability for all the DApps.
Exploiting its MainNet, TRON developed its own technical token standards TRC10 and TRC20. Every DApp in the TRON network can issue their tokens. TRX is the native MainNet token of TRON and acts as the medium currency for all the TRC-based tokens. TRX can be used in a wide range of applications.
Advantages of the TRON network — How you can use TRX and what you can gain?
TRON is a multi-functional blockchain platform with various features to use TRX.
- TRON enables the creators to publish their content on the platform without any intermediary. Users can access the content and pay directly to the creators using TRX. It is the original and one of the main purposes of TRX — to be part of the functioning of the blockchain-based content platform. There are hundreds of DApps already developed and deployed: casinos, games, loan services, and utility applications.
- Any decentralized app developer can create their own TRC-based tokens on the TRON network. A total of 1024 TRX is required to develop such tokens. Users can purchase these tokens on the platform with TRX. There are already plenty of tokens present and more are being created constantly.
- TRON network is also a platform for smart contracts. Anyone can place their smart contract and use TRX to fulfill it. TRON’s smart contract services have high flexibility which allows making many kinds of contracts with different conditions and triggers.
- Freezing TRX gives the user Tron Power (TP) and provides them with voting rights. Using the Tron Power, users can vote to elect the Super Representatives (SRs) and fuel the smooth functioning of the network.
- TRON Foundation launched the Tronics Support Plan for developing blockchain technologies and building the TRON ecosystem. TRON welcomes the community to participate in the program by donating in-return for TRX rewards.
- TRX can be used to make online purchases. Users can buy TRON merchandise from the WeChat stores. It can also be used to buy virtual gifts on CallMe, a live broadcasting platform.
- TRX is widely used in partnership programs. TRON made a partnership agreement with oBike, a multi-national bike-sharing company in 2017. They launched the so-called oCoins based on the Tron Protocol to fuel the reward system of the platform. In 2018, The world’s largest adult website Pornhub announced its collaboration with TRON. Users can upgrade their accounts with TRX and get the premium content and exclusive services.
- In July 2018, TRON made a step ahead in the direction of decentralizing the web and acquired BitTorrent. Later, BitTorrent Token (BTT) was developed leveraging the TRC-10 technology and can be used to pay for faster download speeds and rewards system. TRX token-holders have the advantage of automatically receiving the airdrops of BTT.
Tether issued USDT backed by the US dollar on the TRON Network. USDT is a TRC20 based token and can be used to transact and exchange fiat pegged currencies across the TRON network with zero transfer fees. In addition, TRON natively supports decentralized exchange and TRON wallet for TRX and other tokens.
TRON announced its ground-breaking scalability solution called “Sun Network” on the 11th of August 2019. Sun Network is designed to provide almost unlimited capacity for TRON main network allowing 100x scalability. The sidechain system enables developers to build DApp Chain that runs decentralized applications at extremely low energy consumption, with high security, lower fees, and faster transaction confirmations.
And, of course, TRX may be traded like any other crypto asset. In fact, it took high and stable market positions and never stops developing which strengthens TRX’s position.
With all the exciting projects and promising partnerships, TRON gained traction among the crypto community in a short span. This is the time to invest in TRON and ChangeHero makes this process a cake-walk.
How to buy TRX on ChangeHero?
Tronix can be bought on ChangeHero platform in a few simple steps.
- Choose the asset you want to buy Tronix with — Select the cryptocurrency you want to swap and insert the amount. ChangeHero will automatically calculate the amount of Tronix to be received.
- Provide TRON Wallet address — Copy your TRON Wallet address and paste it to ChangeHero platform.
- Confirm transaction — Check all the data one more time and confirm the transaction.
- Send your assets — Copy ChangeHero deposit address and transfer your assets from your wallet.
- Success! — ChangeHero delivers TRON to your wallet in 5–15 minutes.
TRON is well on its way to change the way we consume the content and revolutionize the web by decentralizing it. ChangeHero believes that TRON’s reach would take off and would make crypto a better place. For more such informative articles, interesting news and exciting offers on crypto exchanges follow ChangeHero on Twitter, Facebook, and Blog.