Exchange TRON (TRX)

The Tron crypto project is a revolutionary, open-source platform that seeks to build a decentralized global content entertainment system, using blockchain technology. It aims to provide a platform where users can freely publish, store, own, and control their data and content. 

The Tron vision is to create a “decentralized content entertainment ecosystem”, where users can create and share content without any central authority or third-party interference. Since its inception, Tron has been working to create an open-source, global digital content entertainment system that provides users with a more decentralized and secure platform for sharing, storing, and distributing digital content. The project’s goal is to create a highly efficient, low-cost, and transparent system for content sharing and distribution. 

The project was founded in 2017 by Justin Sun, and was launched on the Mainnet in May 2018. In July 2018, BitTorrent — the pioneer in decentralized services with over 100 million active users — was acquired by the project and integrated into the Tron ecosystem.

The Tron network supports smart contracts, different types of blockchains, and decentralized applications. Tron Protocol offers a high throughput, underpinned by improved network TPS. It makes the Tron network easier and cheaper to use for everyday transactions than Bitcoin or Ethereum. It also makes the network much more scalable, allowing for the diverse ways of deploying smart contracts. 

The ecosystem of the project is based on three levels. Storage Layer stores the network data, the state of the blockchain, and history of transactions. Application Layer is where the TRX token is utilized to develop applications and create wallets. Core Layer is where all the transactions are processed. The Core Layer computes instructions, processes them and then sends them to the Tron Virtual Machine, where the dApps are executed. 

The Tron ecosystem also includes the dApp Chain, celled Sun Network. It allows smart contracts to operate on the Tron network faster, with lower energy consumption and improved safety. 

The platform offers users a self-sustaining, self-governing, and self-fulfilling network of content creators, developers, and users. It boasts over 137 million accounts and over 4.7 billion transactions, and is considered as one of the fastest growing chains.

The Tron platform utilizes a consensus mechanism called Delegated Proof of Stake (DPoS) which helps to maintain an efficient, secure and decentralized network. Twenty seven super representatives are responsible for tracking the transactions history and validating the transactions on the Tron network. Every six hours one super representative is picked for validation and rewarded in TRX tokens. A new block is added to the blockchain every three seconds, and the users that add the blocks receive 32TRX as a reward. 

The network became a wholly community-governed decentralized autonomous organization (DAO) in December 2021 when it became fully decentralized. 

At the core of the Tron network is TRX, the platform’s native cryptocurrency. TRX is used to pay for transactions and to power the platform. It can also be used for a variety of applications such as peer-to-peer payments, smart contracts, and decentralized applications. TRX can be staked to secure the platform and receive the rewards in TRX as well. Additionally, the TRX token is used to incentivize developers to create apps and content on the network. 

TRX has numerous utilities, such as paying for transactions, reward programs, and providing access to various services on the platform. It can also be used to purchase special products and services such as game items, tokens, and more. It also serves as a store of value, which is beneficial for users who want to save and invest in the Tron network.

In April 2022 the network launched an algorithmic stablecoin, called Decentralized USD or USDD, that works according to the automated balancing technique that burns 1$ worth of TRX to mint 1 USDD. Tron DAO Reserve is responsible for managing the token and making sure that its value is stable relative to the price of the underlying collateral. 

Average Fees on the Tron Network

Tron offers a very low transaction fee that is set at around $0.000005 for each transaction. 

TRX Token Wallets 

TRX tokens can be held in many common crypto wallets, including Binance, Coinbase, MetaMask, Exodus, Ledger Nano, TrustWallet, Atomic Wallet, Free Wallet, etc. Tron also offers it’s native TRON wallet that allows users to keep their funds, including TRX tokens, in it.