In this article, we will discuss Tron Blockchain’s main features, TRX token, Top ways to buy TRX and top wallets to store TRX.
The world and its internet existence are moving towards decentralization. The need and trust that the world once had in the existing data sharing and storing of the internet have slowly been wiped out. And the whole central point of access and control is starting to phase out.
With the world turning to a more decentralized existence, it is bound to take pointers from an industry that has established itself with similar objectives; the cryptocurrency and blockchain industry. The first move that has been predicted from centralization to decentralization is going to be executed by the Financial Services Industry.
But at the current state that the blockchain is in, it is in no shape to be able to take up that kind of volume and responsibility. The advancements that the blockchain has made in the past ten years are significant but falls short by a lot.
TRON is bridging the gap between the current advancements in the blockchain technology and the financial world by creating a platform that helps other businesses and enterprises go the decentralization route.
TRON – Decentralize the Web
TRON is a project that is based out of Beijing and San Francisco. It’s current CEO is Justin Sun. Justin Sun is also the founder and brains behind TRON the company and project respectively.
The final aim of TRON is to decentralize the web completely. The company wants to build and provide infrastructure for the easy adoption of the blockchain. In order to do so the TRON platform has focused on three main areas in the creation of its very own blockchain.
The three areas are:
The blockchain is being prepared to be the underlying technology of the financial industry. The financial industry is a global industry, meaning the blockchain/s that are running the industry have to be able to support a tremendous amount of volume and to be able to process the number of transactions the financial infrastructure does in a minute.
These are two places that the blockchain lacks. The scalability and the number of transactions per second it can pull off. The TPS of a network is what defines how well or bad a network will do in the market. The TPS rates of the Bitcoin and Ethereum blockchains are 6 and 25 respectively. Which are very, very low.
By harnessing multiple technologies and after repeated iterations of the TRON blockchain, the company has finally achieved a very high throughput rate.
According to Tronscan, The current TPS for Tron network is 19 Tx/s, and Maximum TPS was 748 – Which is better than Ethereum, but lower than EOS.
This is a massive leap from Bitcoin and Ethereum’s blockchains. But to put things in perspective, Visa and MasterCard networks process more than 20,000 TPS.
The existing blockchains are very rigid in nature. They have a certain amount they can achieve and anything above that, the blockchain will start to fray. This is a direct reflection of the lack thereof scalability on the network.
The TRON network has found a workaround this particular problem by providing applications a wider variety of ways to deploy their network needs. Which in turn increases scalability because every need has a different requirement and precedence. The network has also come to a point where it can support an enormous number of users on the network at the same time.
Tron launched a sidechain network last year called – Sun Network to achieve higher scalability.
According to Sun network official website –
“DAppChain is TRON’s sidechain project. The goal is to help DApps to operate on TRON with lower energy consumption, faster speed, and enhanced safety, providing unlimited capacity for TRON’s main network.”
A concern every newcomer in the industry has is how reliable is this network. How safe are my assets? How susceptible to hacking is my wallet, etc. This, given the number of hacks that have happened over the year, is a serious concern that the market needs to work on. The market needs to find more and more secure ways of going about business.
To that effect, TRON has built blockchain infrastructure using reliable network architecture that makes sure security is state of the art. The infrastructure built for TRON is also very focussed on making sure that the security and reliability is not a concern to the consumer.
The TRON platform is one of the largest blockchain-based operating systems in the world. The end game of TRON and the team is to decentralize the world-wide-web. Which, to say the least, is a very ambitious aim to have.
The roadmaps of these projects are what express intent of projects and show clearly where they are headed. The TRON network was initially working off the Ethereum Blockchain. But almost over a month ago, the company launched its own mainnet.
The company has successfully achieved everything that they had marked out for themselves. And is currently working on iterations of the network to better it and its overall experience.
The TRON company is a very well connected company in terms of strategic partnerships. The partnerships a company strikes towards furthering its goals and aims are very important. The community appraisal that a company or a project gets is quite important. The company has strategic partnerships with companies like NASDAQ, Alibaba, Gifto, etc.
The native coin of the TRON network and community is called TRX. According to Coinmarketcap, TRX is ranked 15th by Total Market Capitalization. The current Market valuation for TRX is at 1.34 B$.
The highest value that the coin has ever held is $0.35 USD. The current value of the coin is $0.020 USD.
TRX’s price dropped by 96% during last bear market in 2017-18. TRX managed to 0.0125$ Last year, and current trading above 0.025$ by recording 100% price growth this year so far.
Top 3 ways to buy TRX
Buy TRX from Bank/ Wire Transfers
TRX can be bought and sold in fiat currencies like USD, INR, CNY, KRW etc.
- Bithumb: Supports KRW.
- OEX: Supports CYN
- Bifinex: Supports USD
- Bitbns: Supports INR.
Buy TRX for other Cryptocurrencies
You can buy TRX with ETH/BTC and XRP pairs from 100+ Cryptocurrency exchanges worldwide. The best exchange to buy TRX with ETH/BTC and XRP is Binance.
Binance also offers TRX staking service.
Buy TRX with Credit/Debit Card
There are limited options available to buy TRX with Credit or Debit Card. Changelly is one of the most popular services which offers support to buy TRX with Credit or Debit card.
Top 3 Wallets to store TRX
TronLink provides a chrome extension for google chrome, which is easy to download and use. It is a convenient wallet to send, receive and store TRX.
TronScan Web Wallet
TronScan offers a user-friendly web wallet to store, receive and store TRX.
Trust Wallet is one of the most popular mobile wallets which supports TRX and 50+ other cryptocurrencies. TrustWallet is available to download for both iOS and Android mobile operating system.
In conclusion, we can say TRON is a clear leader in the distributed content industry. Under Justin Sun leadership – TRON can continue to shine and work with Big corporations. We expect some big announcements to come up in an upcoming Tron’s annual summit – NITRON, which is going to be held soon on undecided dates. TRX’s price could also see positive growth before and during the upcoming summit.
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