TRON was founded in September 2017 by a Singapore-based non-profit organization called the TRON Foundation. The organization is led by CEO Justin Sun and has an internal development team with renowned technology experts such as Lucien Chen, Maorong Lin, Xiaodong Xie, and others.
TRON was built to create a free, global content entertainment system using Blockchain. The protocol allows users to freely publish content, store and own their data, and have control over their content, independently deciding when, how, and at what cost to share that data.
Tronix is the underlying asset in the TRON Blockchain. It's the currency used to pay for your content, for gas fees, and is commonly known as TRX.
How Does TRON Operate?
TRON operates on a Proof of Stake (PoS) consensus mechanism, a unique token standard for TRON's NFTs and Dapps.
The TRON Virtual Machine (TVM) uses a three-layer architecture: application layer, storage layer, and core layer, to execute smart contracts.
For Dapps, the TRON platform ecosystem includes: DEX, blockchain browser, decentralized data storage system, wallet, and lending platform… In recent months, TRON has shifted its focus to decentralized finance (DeFi) and many other applications to scale up.
Algorithmic power resources are distributed fairly evenly among TRX token holders (including bandwidth and energy). The network can handle up to 2500 transactions per second and is gradually being improved to achieve even faster processing speeds.
Although TRON is primarily focused on creating new content, many other specialized application areas have been developed on TRON. Notable examples include applications in the DeFi service sector and BitTorrent. The most popular application on TRON is the Dlive platform (a video live streaming application). And there are many other areas as well.
Partners Build the Brand
It can be said that a strong partner base will influence the brand and development of the network. Some of TRON's partners:
Zag-S & W
As one of the world's most renowned law firms, Zag-S & W provides TRON with legal expertise to handle key issues such as digital asset transactions, copyright, risk assessment, and legal rights and privileges in various countries and localities around the world and domestically.
oBike
TRON has partnered with oBike, one of the leading bicycle companies in the Pacific Rim, which has its own cryptocurrency, called oCoin. This token was issued on the TRON platform in early 2019, where it is used to make purchasing bikes easier on the oBike platform.
Furthermore, Justin Sun stated: One of the core missions of the TRON Foundation, the non-profit organization behind the TRX cryptocurrency, is to support growth by applying it to real-world situations.
Coingaming
Coingaming has established an agreement with the TRON Foundation. Through this, players can bet directly using TRX without converting in-game currency. With transactions occurring almost instantly (~2500 transactions/second), a low minimum deposit threshold, and zero transaction fees, this partnership provides a fun, fast, and fair gaming experience, minimizing overhead costs.
Refereum
In addition, Refereum, a blockchain-based platform for rewarding participants and streaming video games, also partnered with TRON on April 2, 2020. This partnership allows Refereum to pay its users with TRX and BTT tokens from BitTorrent (a software company acquired by TRON in 2018).
Storage
The Tron wallet is integrated into the blockchain to store TRX tokens or other standard tokens based on the main blockchain network, TRC-10 and TRC-20. Note that you should not transfer any coins from other blockchain platforms to your Tron wallet if you do not want to lose those assets.
Coins you buy on exchanges that are not yet listed or purchased in seed sales, private sales, etc., can be stored in your Tron wallet (provided that the token is supported on Tron).
Should you buy and hold TRX?
First, you need to determine your purpose for buying TRX: investment, trading, gas fees, etc. If you are a user of applications on the TRON blockchain, you should buy TRX to pay for and exchange tokens used in the platform's applications. This is crucial, as all transactions on the platform require a small amount of TRX for payment. Additionally, if you are a long-term investor, you can also hold and participate in staking TRON to earn passive income.
If you are a long-term investor looking for a blockchain with future potential, you need to pay more attention and focus on the Tron project. Therefore, to make a long-term investment decision in the TRON platform, you need to know more about the capabilities of the project's development team and whether they are sound before investing.
If you are a speculative investor, TRX is also a good speculative asset. Cryptocurrencies with prices below $1 USD usually have high volatility. If you are an experienced speculator with a good understanding of technical analysis, accurately identifying the bottom can bring you significant profits, but if you make mistakes or have weak psychology, you will be eliminated quickly.
In short, information about the TRON network is very diverse, and price index predictions are always very varied. Only time will tell whether the predictions are right or wrong. Therefore, new investments are always a thrilling and nerve-wracking battle of wits.
Disclaimer: This article is for informational purposes only and provides an overview of the investment project in the cryptocurrency market. Investors and traders should not rely on the information provided here to make investment decisions.