Top 12 Cryptocurrency Coins

Tron cryptocurrency and blockchain

Image 1: Tron cryptocurrency and blockchain.

9. Tron (TRX)

Chinese Name: 波场

Founder and CEO: Justin Sun

ICO Date: 9 September 2017

Mainnet Launched Date: 31 May 2018


Consensus Mechanism: Tron Proof-of-Stake (TPoS)

Transactions Per Second (TPS):2000

Fees: None

Scalability: High


Overview

Tron blockchain was founded by Justin Sun (current CEO) in September 2017. It is reported to be a decentralized protocol project with the goal of becoming a global content distribution platform and decentralized internet utilizing cryptocurrency and blockchain technology that allow everyone to freely create contents, websites, and applications for the digital entertainment industry.


Tron Blockchain Founder Justin Sun

Image 2: Justin Sun is the founder of Tron blockchain.

Tron Cryptocurrency Token

The native blockchain token of the Tron network is the Tronix (TRX) cryptocurrency coin. Consumers can use TRX cryptocurrency coin to pay for the content that they wish to access on the Tron blockchain. The paid cryptocurrency coin will then go to the blockchain account of the content producers where they can use to fund or upgrade their content business, pay for blockchain services or exchange for other cryptocurrencies.


Development Progress

Tron launched Testnet blockchain on 31 Mar 2018 and Mainnet Odyssey 2.0 on 31 May 2018. Odyssey is a Java-based network using Tron Proof-of-Stake (TPOS) consensus algorithm. TPOS is an adjustment modified from Delegated Proof-of-Stake (DPOS) where cryptocurrency token owners will be incentivized for voting on the blockchain.


TRX cryptocurrency token started off using ERC-20 that came from the Ethereum blockchain as the token technical standard . The Tron team planned to complete the migration of ERC20 TRX cryptocurrency tokens to the public Tron blockchain between 21st June 2018 (UTC/GMT+08:00) to 24th June 2018.


Tron Cryptocurrency Trading

Tron reached cryptocurrency market cap of more than $1.8 billion USD and a total coin circulating supply of around 66 billion as of 26th May 2019. TRX is a new cryptocurrency altcoin but is a direct competitior to bitcoin and ethereum blockchain, competing to become the best cryptocurrency in the market. Similar to bitcoin trading, TRX is a popular token to trade on a cryptocurrency exchange.


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