How is Tron a Cryptocurrency?
Today, numerous altcoins have entered the cryptocurrency market. And for this reason not only has the competition grown, but it is also becoming difficult for people to survive. Searching for the best altcoin? Tron is the best option. It has gained much popularity and has become the most discussed cryptocurrency. Wondering why? Here is everything you need to know about it.
What is Tron?
Founded by Justin Sun in the year 2017 and developed by the TRON Foundation, a non-profit organization in Singapore, TRON is originally an ERC-20 token based on Ethereum. TRON is also considered a decentralized, open-source blockchain-based operating system.
With proof-of-stake as its consensus method, smart contract capability and a system of native money called Tronic (TRX). The goal of Tron is basically to develop a free, universal platform for the amusement of digital information that benefits from distributed storage technology. Overall it offers users a simple and affordable way to share digital content.
What is so Special about Tron as a Cryptocurrency?
Wondering how is Tron as a Cryptocurrency? Is it even good? Here is what makes Tron special as a cryptocurrency:
•It delivers an altogether different perspective and ambitions to the market.
•It comes with no transaction fees.
•The network has the ability to handle 2000 transactions per second.
•By holding TRX, users get the opportunity to take part in the selection of super representatives.
•The platform is completely great as it allows content creators to receive payment for their efforts. Not only this, but it also gives users the convenience of maintaining complete control of their work.
•It also allows users to forward digital assets. As a result, others can purchase and enjoy the benefits. Also, users can upload, share and distribute content without any restrictions.
How many Coins of Tron are in Existence?
With a market worth of $3.98 billion, Tron is currently ranked 22nd among all cryptocurrencies. The total quantity of TRX, the native token of Tron, was initially set at 100,850,743,812, with 71,659,657,369 TRX currently in circulation. Besides, the initial ICO used to establish Tron (TRX) raised about $60 million USD.
In January 2018, Tron hit an all-time high of $0.131. Though the price has been unstable ever since, particularly during the general market conditions that emerged after December 2017, TRX is now rising in price and gradually gaining speed as the cryptocurrency industry becomes more well-known.
How Can You Use a Tron?
In addition to its primary use case as a platform for content providers, it is also frequently used for transactions because TRX transactions have zero fees. Currently, the Tron network supports various applications and games.
Numerous businesses, like Travala, SpendCard, Bitnovo, and others accept payments in Tron. Additionally, Tether has also transferred its USDT-Tron stablecoin to Tron's network. Since BitTorrent was purchased, the Tron ecosystem has grown even more amazing.
Since Tron is a well-known cryptocurrency there are various wallets available including both software and hardware versions. This is why users have more than enough options from which to select. However, each user must make a decision based on their unique demands and requirements.