Tron – Your Guide for the New Cryptocurrency

Tron or TRX is a type of virtual currency that runs on a blockchain with the same name. The Tron blockchain also enables other digital currencies and financial products through its handy Smart contracts and DApp features. Crypto traders and the current bullish trend anticipate that TRX may reach $1 by the end of 2021 or the beginning of 2022. Accordingly, its price is likely to touch $0.85 by next year.

What is Tron? 

As mentioned earlier, Tron or TRX is a cryptocurrency with the smallest unit known as SUN. 1 Tron coin includes 1,000,000 SUN. Tron entered the cryptocurrency market with the initial token supply private sale of 25.7% at the beginning of 2017. Later in August 2017, the coin came with an ICO for 40 percent of the supply. The remaining 34.3% of TRX is still on hold with the Tron Foundation.

History of Tron 

Justin Sun, the CEO and founder of the Tron Foundation, developed this digital currency and blockchain in 2017. Primarily, TRX tokens worked on the Ethereum network, though it shifted to their private network one year after its inauguration. The Tron Foundation got hold of BitTorrent in 2018.

Tron software also backs decentralized apps and smart contracts, making it a perfect match for TRX and other digital currencies. In 2018, Justin spent huge for buying a popular software program named BitTorrent that aims to share files for peer-to-peer software.

Tron cryptocurrency has also undergone several controversies since its foundation. According to Lucien Chen, the former CTO of the company, TRX is no longer serving as a decentralized system. The former team member of Tron publically separated from the company and revealed how the Tron system centralizes 90 percent of votes using only some voters in a scornful blog post. Tron is allegedly using a plagiarized code from other digital currencies without acknowledgment.

However, Tron gets regular upgrades with active developers and open-source contributors. It enabled the current per second transaction rate of 10,000 after the upgrade. The company has also listed its plans, especially mentions the advancements, allowing miners to execute ten thousand transactions every second soon.

Features of Tron Cryptocurrency

Tron or TRX employs a proof-of-stake system, which uses less power than competing cryptocurrencies like BTC or ETH. The Tron network gets the ability to manage more transactions with the architecture of the digital currency simultaneously than proof of work systems, which wholly depend on a giant network of crypto miners. The Tron network comes with a significant improvement over older and larger crypto networks.

Tron can manage 10,000 transactions per second without any transaction fees. Its delegated proof-of-work mechanism allegedly allowed 2,000 cryptocurrency transactions per second. It is significantly more than bitcoin with three transactions and ethereum with fifteen transactions. The lower costs and higher throughput make Tron’s delegated proof-of-work attractive for decentralized apps and smart contracts.

Mining Tron Coins 

Unlike bitcoin, the general public cannot mine Tron coins directly. The consensus network depends on cryptocurrency users, staking stake TRX, and maintaining Tron balance in a suitable digital wallet. The Tron system depends on twenty-seven Super Representatives to create new blocks for the respective network. TRX coin holders pick these members through a voting system.

The mining process takes three seconds to generate a new block. The miners are known Super Representatives who obtain 32 Tron coins as a reward for generating blocks. Accordingly, the Super Representatives are likely to earn 336,384,000 Tron coins as block rewards.

Since the mining process of Tron relies on a network of decentralized computers, it still works with the idea of blockchain. However, it employs a few computers and power than bitcoin and ethereum networks, which allow everyone to mine with old and inefficient computers even on a slow internet connection.

Investing in TRX Coins 

You can buy Tron coins through several cryptocurrency exchanges. These include Binance, Upbit, Bittrex, Bitfinex, HuobiPro,, and Coinnest. Tron is known as a popular blockchain. It has the wide support of lots of hardware and software wallets, including the Tron wallet and Ledger hardware wallet.

Regardless of what digital wallet you choose, it becomes necessary to keep your confidential information and private and public keys protected somewhere. Losing access to your digital wallet could cause you to lose access to your digital holdings, including Tron and other compatible assets.