What Is Tron?
Tron Coin is a decentralized virtual mechanism created to aid in the emergence of the decentralized internet. Tron, TRX, serves as the ecosystem’s native coin. Like Ethereum, Tron uses smart contracts on its own blockchain to let decentralized developers build and operate complex protocols.
The transaction speed of the Tron blockchain is what makes it so popular nowadays. It can handle 2000 transactions per second. The best part about Tron is that there are no transaction costs. Without having to pay any fees, you can instantly send a million dollars anywhere in the globe with TRX. Tron now competes with top payment systems thanks to its performance.
Decentralized applications, smart contracts, tokens, and delegated proof-of-stake consensus are just a few of the fundamental building blocks of other projects invented before Tron.
Who Founded Tron?
Sun Yuchen, often known as Justin Sun, is an entrepreneur who founded and developed the Tron network. Sun had founded Peiwo, one of China’s most well-known voice-streaming social programs, before he founded Tron. In 2015, he further served as Ripple‘s agent. He left that position, though, after launching the Tron Foundation.
Additionally, Justin is a seasoned businessman who formerly held the position of CEO of BitTorrent, the most widely used peer-to-peer communication technology globally, from 2018 to 2021. Tron is one of the decentralized finance ecosystems with one of the swiftest rates of growth publicly known, with over 56 million multinational user accounts and over 2 billion total transactions.
How does Tron work?
The Tron blockchain will be the basis for a global system for content exchange. Within its ecosystem, it guarantees benefits for content producers. By utilizing peer-to-peer networks and evolving into a worldwide operating system, it also wants to increase its reach.
Users can freely upload and exchange data, including music, photographs, and videos. Its coin is also usable as in-game cash by users. The Tron team has built a decentralized platform and ecosystem with its virtual machine, believing that blockchain technology will shape how people consume online content in the future. It allows developers to build smart contracts for content on the blockchain without paying the high transaction fees and delays associated with traditional networks.
Tron has three distinct structures with a core, storage, and application layer to prevent these problems. Additionally, Tron employs a delegated proof-of-stake mechanism, significantly reducing its energy consumption compared to rival coins. Unlike proof-of-work systems like Bitcoin, which rely on a vast network of cryptocurrency miners, the Tron network’s architecture allows it to handle many more transactions simultaneously.
The Tron blockchain is appealing for smart contracts and decentralized applications due to its higher speed and lower costs. It also makes TRX, its currency, very appealing to investors and other people wishing to invest in the cryptocurrency industry.
How to buy TRON Coin
Although many types of cryptocurrency exchanges support the Tron network and let you purchase TRX tokens, we prefer the Bitget ecosystem due to its adaptability. Here is a short tutorial on how to do so.
Step 1. Create and verify your Bitget online account.
You need to create and verify an online account with the Bitget cryptocurrency exchange before purchasing Tron’s TRX on Bitget. Your Bitget account serves as a portal for buying cryptocurrencies on the platform. However, you must first open an account and provide proof of identification to purchase TRX.
Step 2. Fund your Bitget account.
You can proceed to fund your Bitget account after creating and verifying one. Users of Bitget can fund their accounts using various methods; you can use your debit card or Bitget’s peer-to-peer platform.
Step 3. Obtain a wallet.
After funding your Bitget account, you’ll need a crypto wallet to store your TRX cryptocurrency in. The Bitget exchange allows you to keep your coins in your wallet; all you have to do now is locate your TRX address on the Bitget exchange and proceed to buy it.
Step 4. Make Your Purchase.
You can make your first TRX purchase in your freshly opened account after opening, funding, and getting a suitable wallet. Your acquired TRX token stays on the Bitget exchange unless you transfer it somewhere else.
Tron Crypto comparison.
1. Tron vs. Ethereum
In contrast to Ethereum, which now employs proof-of-stake consensus, TRON uses an upgraded delegated proof-of-stake consensus method in which transactions are approved by regularly chosen super-representatives rather than by all network nodes. As a result, Tron can process more transactions per second than Ethereum.
Another distinction is that the Tron network fees are pretty low, and developers always try to lower them. Additionally, unlike Ethereum, the network allows users to complete roughly 15 straightforward transactions for free.
2. Tron vs. Cardano
Tron uses a customized version of the Ethereum Virtual Machine on its blockchain. A virtual machine is a compact Turing complete machine that incorporates the idea of bandwidth to prevent network congestion. The Proof of Stake consensus algorithm used by Tron allows owners of the TRX coin to have a stake in the Tron blockchain and a vote for a “Super Representative.”
On the other hand, Cardano is built on the Ouroboros Proof of Stake protocol, which claims to be the only Proof of Stake protocol with mathematically proven security. Holders of ADA, its native token, can “vote and elect” the representatives carrying out their block confirmation requests.
Cardano has worked more than Tron to create its distinctive consensus, even though, on the surface, both run on a similar consensus.
3. Tron vs. Dogecoin
The foundation upon which each cryptocurrency was developed is a key distinction between Tron and Dogecoin. While Dogecoin was created as a joke with no real utility in mind, Tron was set to address Ethereum’s flaws. Dogecoin’s creators didn’t want it to be taken seriously. Because of this lack of technical advancement, Dogecoin is less secure than Tron.
|Transaction Speed||Processes about 2,000 transactions per second||Processes about 30 transactions per second||Processes about 250 transactions per second||Processes about 33 transactions per second|
|Security||Very secure||Very secure||Very secure||Secure|
|Consensus Mechanisms||Uses the delegated Proof-of-Stake consensus mechanism||Uses the Proof-of-stake consensus mechanism||Uses the Ouroboros Proof of Stake mechanism||Uses proof-of-stake consensus|
|Use cases||Means of exchange, entertainment content distribution, hosting decentralized applications, and smart contracts||Means of exchange, hosting decentralized applications, and smart contracts||Means of exchange, hosting decentralized applications, and smart contracts||Means of exchange, charity, and tipping|
Is Tron’s crypto a good investment?
It is, indeed. Despite the controversy surrounding it, the market valuation of TRON’s coin places it among the top cryptocurrencies. It undoubtedly has potential, and there are many reasons to consider investing in it.
Since it has been around for a while, it survived the previous crypto storm and offered a compelling use case to a large, global base of users. It is one of the best cryptocurrencies to buy during this bear market.
In addition to the fact that 2022 wasn’t the best year for cryptocurrencies, Tron’s token has continued to operate, its developers have continued to introduce new features, and it has continued to serve sizable user bases worldwide. Owners of Tron might anticipate higher profits in the years to come. According to a review of TRX pricing from prior years, it is predicted that the minimum TRX price will rise in 2023. The TRX price may reach a maximum of 30 cents.
Is Tron’s crypto safe?
Yes, it is. The incredibly trustworthy and secure Tron blockchain, whose delegated proof of stale consensus method makes it virtually impossible for hackers to enter the site, supports Tron’s TRX. To keep your digital assets secure, crypto exchanges like Bitget offer you more than enough protective measures.
Tron is a cutting-edge cryptocurrency project that integrated several technologies developed by previous projects. The Tron network offers an alternative for content creators who are frustrated by censorship or other issues related to centralized content platforms. Additionally, the zero-transaction charge structure of cryptocurrency payments makes it a fascinating choice for both businesses and consumers.
Tron Coin Basics
The primary characteristics of Tron Coin are as follows.
|Cryptocurrency Features||Tron Coin (TRX)|
|Publisher or Developers||TRON Foundation|
|Jurisdiction of Incorporation (Registration Number)||Singapore|
|Platform||TRON Network (Mainnet)|
|Published Date (CMC Registration)||2017-09-13|
|Max Supply||No limit|
Investment Suitability of Tron Coin in 2023
The results of the Tron Coin investment suitability evaluation conducted by Coin-Labs are as follows.
|Investment Suitability Rating Items||Scores and Current Status|
|Company Activation Rate||9.5 / 10.0 CAR|
|Communication Rate||7.7 / 10.0 CR|
|Technology Transparency Rate||5.2 / 10.0 TTR|
|Development Participation Rate||8.4 / 10.0 DPR|
|Listing Status on the Top 4 Exchanges in Korea||Listed on 4 Exchanges|
|Listing Status on the World's Top 10 Exchanges||Listed on 8 Exchanges|
|Number of Available Pairs Worldwide||723 Pairs|
|Market Cap of the Cryptocurrency||7,018,482,278,158 KRW (Rank #16)|
Tron Coin Price
The price and recent trading volume of Tron Coin are as follows. (Data of 2023-01-27 16:10:21)
|Price Items||Price and Trading Volume of Tron Coin|
|Tron Coin Price||76.427 KRW|
|Price Change 24h||0.52%|
|Price Change 7d||2.54%|
|Trading Volume 24h||238,966,824,902 KRW|
|Trading Volume Change 24h||-9.92%|
You can check the development status and social media information of Tron Coin through the links in the table below.
|🌎 Official Website||https://tron.network/|
|📖 White Paper||https://developers.tron.network/docs|
|🛰️ Source Code (GitHub)||https://github.com/tronprotocol/java-tron|
|🎺 Message Board||https://medium.com/@Tronfoundation|
Korean Crypto Exchanges where Tron Coin is Listed
Korean crypto exchanges where Tron Coin is listed in 2023 are as follows.
|Top4 Exchanges||Listed Status||Page URL|
World Crypto Exchanges where Tron Coin is Listed
World crypto exchanges where Tron Coin is listed in 2023 are as follows.
|Top10 Exchanges||Listed Status||Page URL|
Frequently Asked Questions
What is the current price of Tron Coin?
Tron Coin price today is 76.427 KRW. Furthermore, the price of Tron Coin has fluctuated by 0.52% from 24 hours ago, and by 2.54% from a week ago.
Where is Tron Coin listed?
Currently, it is listed on a total of 4 among the 4 largest exchanges in Korea, and is listed on a total of 8 among the world top 10 exchanges.
What is the market cap of Tron Coin now?
Currently, Tron Coin has a market cap of 7,018,482,278,158 KRW, which is ranking 16 among cryptocurrencies worldwide.
How much is the trade volume of Tron Coin?
Currently, 91,832,065,085 TRX coins are circulating through 723 market pairs. As a result, in the last 24 hours, 238,966,824,902 KRW of TRX coins were traded in the market.