Monday, 22 October 2018 03:44

A Brief Guide to the Altcoin Tron (TRX):

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As one of the world’s most valuable cryptocurrency projects, Tron (TRX) has an unmatched signal: noise ratio amongst crypto media.

This is due in no small part to Tron’s ebullient founder and CEO, Justin Sun, who makes daily tweets that range from factual and exciting to questionable and exaggerated.

However, Sun’s tweets aside, the Tron project deserves the attention of serious investors who can cut through the noise and let the project’s merits, achievements, and potential stand on their own.

What Is Tron?

Decentralize the web

When searching through the literature on Tron, you’ll find their tagline about decentralizing the web everywhere. While it’s a great sounding statement, what it involves, and how Tron aims to achieve it, will take a bit of unpacking.

Like Ethereum, Tron is a blockchain-based platform but where it differs significantly is in its specific purpose. Tron’s technology is being built to support a global and free peer-to-peer platform for sharing, distributing, and hosting digital content. Games, music, movies, images, video – any of it can be stored and shared directly from content creator to content consumer.

The significant advance this represents is the removal of intermediaries which typically stand between those who produce content and those who consume it. In the current paradigm, content distribution and sharing processes are cumbersome and riddled with fees taken by intermediaries standing in the middle waiting for a handout.

Imagine that you’re a musician who has just produced an album. You want to get your music to listeners worldwide, and you’d like to potentially monetize your creation. Turning to platforms like Soundcloud, Bandcamp, YouTube, and others mean paying fees to those platforms. Going with an even more traditional route would mean finding a record label to distribute your music to retailers.

In the Tron era, you’ll be able to connect directly with listeners over the Tron platform, allowing you to take payment for your content from consumers themselves.

To be more specific, Tron isn’t only creating a decentralized web, it’s creating a decentralized web of value.

While Tron’s aims may sound great, they also happen to be backed by outstanding technology that has so far been free of the problems plaguing other major platforms like EOS. A smooth switch to mainnet, high transaction throughput (2,000 tps), and consistent network uptime make Tron look like a solid performer at this early stage in the blockchain game.

How Tronix (TRX) Token Works

Tronix (TRX) is the protocol token necessary for the overall functioning of the network. There are two main purposes behind the TRX token:

1. Developers need TRX to build. If a developer wants to build an application, game, or other use cases on the Tron platform, they’ll need to buy an amount of TRX to do it. The bigger the project, the more TRX tokens will be tied up in the process. During the decentralized application building process, some of the TRX charged as a fee to developers is burned, thereby permanently decreasing the overall supply of TRX.

2. Network currency. Users paying for content can do so using TRX as the network’s native currency. While some decentralized applications built on the Tron platform will choose to create their own tokens, TRX can be used as the default currency for in-network purchases and payments.

Having just swapped to their mainnet, TRX tokens are still somewhat new and, owing to this, the full details of their exact mechanics and use cases are still being hashed out. However, users can expect them to work similarly to both ETH and EOS tokens in their respective networks.

TRX Trading on AltCoinTrader

AltCoinTrader recently announced that TRX trading will be coming online on their exchange. 

"Tron (TRX).TRX trading will soon be live on the AltCoinTrader platform. As always AltCoinTrader encourages everyone to please do their own research on Tron (TRX) before getting involved."

 

 

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