What is tron TRX?
Tron is a blockchain platform that claims to be the global entertainment digital content system. Founded in 2017 by the Tron Foundation, a nonprofit company based in Singapore, the platform promises to offer security, scalability, and privacy where users can share digital content quickly and economically. It also allows users to create their own tokens on the platform so they can be used by third parties, such as the well-known Ethereum platform.
As this sector is still very new, individuals, companies, and governments are still in the process of adapting and are subsequently still conducting research and study. This is one of the reasons why Tron aims to offer a platform that is significantly easy to use for the majority of its potential users. For example, developers face significant difficulties when needing to create a decentralized application (dApp) with protocols different from those they have used so far.
Despite there being thousands of cryptocurrencies on the market, not all of them necessarily compete with each other. In general, every project has a goal, and those currencies which end up competing are usually offering similar services for society. Tron, however, does not compete with bitcoins; its only real competitor being Ethereum.
Like many of the new cryptocurrencies appearing on the market, TRON was created after ICO. The aim of financing projects this way was to pre-sell tokens to large and small investors who wanted to participate. As a rule, tokens are issued and distributed on the network of another cryptocurrency. In this case, TRX of TRON project lived for almost a year in the Ethereum blockchain, which provided its standard ERC20 for rapid development. In April 2017, the TRON Fund was created, supporting its growth.
TRON was founded by Justin Sun, one of the most talented young entrepreneurs in China, recognized as such by Forbes magazine. Before starting to work with TRON, Sun was also the chief representative of Ripple. The ICO was launched in August 2017, setting a goal of $70 million (USD). Over six months later, in April 2018, the main TRON network was launched, with all TRX tokens transferred to the final blockchain in June the same year, thus completing the work plan and forcing TRX to rise in the top 10 CoinMarketCap.
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Who is Justin Sun?
TRON is one of those cryptocurrencies where the creator is known better almost more than the project itself. As mentioned above, TRON’s creator was Justin Sun, who was already known for a very successful previous project: the Peiwo app.
Sun Yu Chen (better known as Justin Sun) was born on July 10, 1990, in Shandong Province, China. By age 28 he was already leading a number of promising companies, earning some impressive capital. He is often compared to Chinese billionaire Jack Ma, founder of the Alibaba Group. Sun went on his own ambitious path, twice making it into the list of 30 most successful people in Asia under 30, according to Forbes.
In December 2013, Sun received a job-offer at Ripple Labs. Thanks to his ideas, the Ripple platform attracted new investors and expanded into the Chinese community. Sun acted as advisor and chief representative of Ripple in China until 2016.
In April 2017, Sun founded his own cryptocurrency project through an ICO: TRON. The main idea behind the project being to create a "truly decentralized Internet", focusing on its availability, anonymity, and security.
In January 2020, TRON was involved in several disputes over suspicious activities. Firstly, its White Paper was accused of containing fragments copied from other cryptographic documents. However, after explanation, this answer became obvious: in Chinese projects, references from other currencies are often used in technical documents, but the notes for these links are often lost in their English translation.
TRON network has been designed to make entertainment content simpler and cheaper. Theoretically, this goal was achieved by placing content on the blockchain, together with creators and consumers, in a peer-to-peer network, excluding intermediaries. As explained on its website, TRON protocol offers "scalability, high availability, and high throughput that supports all decentralized applications in TRON ecosystem." The network encourages users to create their own decentralized entertainment applications.
All applications and partnerships of TRON platform initially allow the use of other cryptocurrencies using TRON protocol. All transactions using the protocol are automatically converted to TRX before processing and transferred back to the user in the appropriate currency.
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What are the Tron Bandwidth Points?
TRON, although comparable to the Ethereum network in many ways, does attempt to offer some very interesting new features that are aimed at solving problems that have frustrated users in pre-existing blockchains. Bandwidth is the type of resource that is earned using the Freeze feature from your TRX wallet.
Energy: This is a special resource that is used to process smart contracts on the TRON network. Smart contracts consume energy in addition to bandwidth, so you need to make sure you have enough resources for both when moving your tokens.
What is the difference between TRC-10 and TRC-20?
Since TRON’s inception, Sun has been seeking to improve his project. TRON aims to become a network that allows content creators to maintain close relationships with their consumers, all without any intermediaries, and being part of the general economic ecosystem under the TRX brand (TRC-10). TRON team began some difficult developments. First, they improved the ERC-20 token, which they were relying on for their work. The TRC-20 token was born out of these improvements, and is fully compatible with ERC-20. The enhancements presented in TRC-20 are mainly aimed at making its management more flexible in the blockchain designed to use the coordinated DPoS protocol. Thanks to this protocol, TRON achieves high levels of performance and scalability, meaning your DApps can quickly execute transactions on the blockchain.
It was the use of DPoS and TRC-20 that led to the adoption of DApp in TRO. The variety of DApps available in TRON is currently very diverse. Its rating is constantly changing, especially due to the large number of transactions and total capital these applications mobilize. Most of them are games (casual, RPG, fishing), casinos, and even decentralized currency exchanges (DEX). This is another example of the enormous potential of the technology TRON demonstrates, which is still under development.
TRON aims to become a network that allows content creators to maintain closer and closer relationships with their consumers without any intermediaries, being part of the general economic ecosystem under the TRX brand (TRC-10).
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