Among the newcomers to the cryptocurrency market, TRON (TRX) cryptocurrency occupies a special place. In a short period, the mentioned digital money has increased significantly in value.
The project has attracted the attention of many investors from all over the world. At the same time, some experts say that the Tron platform is too overvalued by the market. In this article, you will receive detailed information about this cryptocurrency and its features.
What is Tron
To fully understand what the Tron cryptocurrency is, we need to start from the very basics. It is a decentralized entertainment content distribution platform that uses blockchain technologies. You can imagine it as the social network of the future, where you can create and share content from anywhere in the world with any audience. Tronix is the basic unit of account on the Tron blockchain. It is the platform’s internal currency that you get for your content and is most commonly known as the TRX cryptocurrency.
People who enjoy the power of social media and other forms of online entertainment will almost certainly be interested in the Tron platform.
By using the Tron platform, you can not only share content with other people but also receive tokens as a content creator. This model is the exact opposite version of traditional social networks like Facebook, which monetize user data. They often do this without the knowledge of the users, only to derive their benefit from it. In the case of Tron, cryptocurrency will be compensation for the use of your content and will allow you to have more control over your data.
Tron foundation
The Tron Foundation is a non-profit organization based in Southeast Asia under the influence of Singapore. The foundation is mainly dedicated to maintaining the Tron crypto network in an open, honest, and transparent manner, supported by the Tron development team.
The Tron Foundation team believes that regulation and compliance are the highest values for their project. The fund is approved by the Accounting and Corporate Governance Authority and is also supervised by the Singapore Companies Act.
How to mine Tron
The platform developers did not provide for the mining of the Tron cryptocurrency, since they had already created all the necessary coins. Also, the creators talked about the scheme according to which the cryptocurrency work:
- 40% of the total number of coins will be sold to enable the project to develop further.
- 15% of the remaining amount is allocated for acquisition by investors. Investors are players who, after the main coin sale, will be ready to purchase tokens further.
- The other funds remain in the accounts of the owners of the company.
Buying and selling coins
You can buy Tron on popular exchanges. It is recommended to use the first 15 exchanges, and not forget to set additional account protection. On the selected crypto exchange, you must go through the registration procedure, after which you are provided with a personal wallet and its address.
The most popular and secure crypto exchanges where you can buy and sell Tron:
- Exmo;
- Bitmex;
- Binance;
- Livecoin.
Development Prospects and Company Roadmap
A distinctive feature of the project is written in the roadmap, which is scheduled until 2027. It is broken down into several stages:
Exodus
It lasts from 2017 to 2018 and is considered officially completed. During this time, information about the project was actively disseminated. The developers were also engaged in improving the tools for using the site.
Odyssey
It lasts from 2019 to 2020. During this time, developers paid special attention to the economic development of the platform.
Great Voyage
It started in July 2020 and ends in July 2021. Implementation of a personal ICO system and third-party developers will have the opportunity to launch their own ICOs.
Apollo
It lasts from March 2021 to March 2023. Creation of a decentralized exchange platform.
Star Trek
It starts in April 2023 and ends in September 2025. It will include the creation of a decentralized platform for the development of any computer game.
Eternity
It starts in September 2025 and ends in September 2027. Platform users will be able to create their playgrounds.
The developers mentioned that if these plans are implemented, a new roadmap will be created in the future, which will begin in 2028.
Differences between TRX and competitors
Tron is fundamentally different from existing analogs. The most important differences are as follows:
- Complete freedom of information. Any data has the right to free distribution;
- Huge selection of content;
- All users can securely transfer electronic data in ICO format and use digital asset processing services;
- Quality infrastructure. Optimized asset allocation contributes to the formation of a big list of decentralized sites. These are entertainment content, applications, information, and conversion services;
- Most users of these platforms have problems with short monetization cycles. Many software developers cannot store and maintain credit data for all customers. Tron is devoid of these shortcomings.
Conclusion
The TRX cryptocurrency has good prospects for further development since the project itself is one of the most ambitious among others. However, it is currently not in huge demand. Investments in a project like this will bring quite high risks. However, long-term investments can bring the investor a good profit.
