Market Discovery of the most influential projects in the cryptocurrency world.
What is Tron (TRX) and how does it work?
Tron is a blockchain-based decentralized digital platform, or operating system, with its own cryptocurrency, called Tronix or TRX coin. Tron was born as an alternative to mainstream blockchains such as Ethereum and Bitcoin to solve some of the issues such as transaction speed and congestion, as it can handle up to 2,000 transactions per second, as opposed to BTC and ETH where their respective TPS are six and 25.
Tron was originally an Ethereum-based ERC-20 token, which switched its protocol to its own blockchain in 2018, where it adopted its own protocol, and switched to a proof of stake concept, where similarly to other PoS blockchains, users are rewarded for holding Tron coin.
Tron was originally founded in 2017 by a Singapore non-profit organization, the Tron Foundation, with the aim of hosting a global entertainment system for the cost-effective sharing of digital content. One year after its launch, in 2018, Tron expanded its services by acquiring one of the biggest file-sharing services BitTorrent. Over the years, the project evolved and Tron focused on dividing its goals into six phases, which include delivering simple distributed file sharing, driving content creation through financial rewards, allowing…
