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What is TRON?
TRON is a blockchain network where people can send value, build decentralized apps, and use TRX to access network resources and participate in governance.
Category | Layer 1 smart contract platform |
|---|---|
Launch year | 2018 |
Consensus mechanism | Delegated Proof of Stake (token holders vote for Super Representatives) |
Max supply | Unlimited |
Circulating supply | 94,774,848,802.096195 TRX |
Main use case | Smart contract platform for decentralized apps and digital payments |
Native token | TRX |
Official website | https://trondao.org/ |
Crypto data and labels can change as markets move. For important decisions, verify the latest figures and network details in more than one source.
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What is Tron (TRX)?
Tron is a project dedicated to the establishment of a fully decentralized internet and its infrastructure. The protocol of Tron is one of the largest blockchain systems in the world. Which offers a public infrastructure, supports high throughput and flexible scalability. In May 2018, the mainnet went online. According to official statistics, over its seven months online it has seen explosive growth in its ecosystem, with more than one million addresses being used, and more than 4,000 daily DApp users. July 2018, Tron acquired BitTorrent. BitTorrent is a communication protocol for peer-to-peer file sharing, used to send/receive electronic files over the internet.
How can I use Tron?
Tron can be used just like any other currency. You can pay for goods and services (online) and use Tron (TRX) for trading. Or invest (hodl) and hold for a long period, in this case, make sure you save your Tron (TRX) safe, preferably on an offline wallet.
Who founded Tron?
July 2017, Tron was established in Singapore by the Tron Foundation, headed by its CEO Justin Sun. Justin Sun is a tech entrepreneur and holds an Master of Arts in East Asia Studies from the University of Pennsylvania and a B.A. in History from Peking University. He is also the former chief representative of China for Ripple & founder / CEO of the mobile social app Peiwo. At the age of 26, Justin was chosen by Jack Ma (founder of Alibaba) to study at the Hupan University, he was the only millennial among the first graduates. June 2019, Justin won the record-breaking € 4m bid to have lunch with Warren Buffett, CEO of Berkshire Hathaway.
Tron versus other cryptocurrencies
Compared with Ethereum and EOS, TRON has better capabilities than EOS, but lags behind EOS in terms of block time and TPS. Its token economy has a more flexible design, and in the early states it has been more developer-friendly. Still, it can't avoid the capacity bottlenecks that the asset pricing model brings about.
Can I earn money with Tron?
Yes, you can earn money by trading Tron (TRX). Buy low, sell high. Tron can be used to trade against other cryptocurrencies. In past years, Tron's value has increased enormously, but also had some huge losses. Early 2018, the TRX rate peaked at almost € 0,27. Be aware that Tron has proven to be volatile, so losses can follow profits. Always trade responsibly. Trade, buy and sell Tron TRX at Coinmerce.
Is it possible to stake Tron (TRX) and how to do it?
It is possible to stake TRX because Tron's blockchain uses Proof of Stake. So Tron's network consists of validators. You can set up a validator node yourself and connect it within the Tron network. However, this is quite difficult if you have no technical knowledge about this. Therefore, you can also choose to stake TRX on Coinmerce's platform. You will then not only contribute to the operation of security of Tron, but can also earn a return. At Coinmerce, you will earn 3% per year in return on staking Tron. Staking Tron at Coinmerce is done directly from your wallet when you already have TRX tokens in it. It is also possible to buy TRX on the coin page, after which you can stake the tokens directly. You can only stake TRX from an amount of 10 euros. The proceeds you earn from staking Tron are immediately visible in your Coinmerce wallet. You can then also stake these new tokens again, to earn an ever-increasing return.
Staking on TRON in plain language
Staking usually means you lock tokens for a period so the network can use them for security or governance. On TRON, staking TRX is linked to TRON Power. TRON Power is used to vote for Super Representatives and to participate in governance. This is how token holders influence how the network is run. Rewards are associated with securing and participating in the network through this mechanism. The exact reward experience can vary with network conditions, so treat it as an ecosystem feature, not a guaranteed income plan.
Delegated proof of stake, explained
With proof of work, miners compete to add blocks. With proof of stake, validators are chosen based on stake. TRON uses delegated proof of stake. That means token holders vote for representatives, and those representatives help verify transactions and maintain the ledger. In practice, this can mean fewer participants need to run validation infrastructure. It also means your influence comes through voting, so it is important to understand how representatives are selected and how governance participation works.
TRON as a smart contract platform
A smart contract is code that runs on a blockchain. It can manage rules for an application, such as how users interact with a decentralized finance service. TRON is described as compatible with the Ethereum Virtual Machine. That compatibility is aimed at helping developers build and migrate applications. If you use a decentralized app on TRON, you are interacting with smart contracts. That is why smart contract risk matters, because bugs in code can affect users.
Resource model and fees, in everyday terms
Some networks rely heavily on transaction fees to manage demand. TRON is described as using a resource model based on bandwidth and energy. The idea is to support high transaction volumes without the same kind of fee spikes you might see on other systems. For users, it means that interacting with the network is tied to how resources are allocated. The exact experience depends on the network and the application you use.
TRON ecosystem use cases
TRON is described as supporting decentralized finance through platforms in its ecosystem, and decentralized storage through the BitTorrent File System. It is also described as a settlement layer for stablecoins and everyday digital purchases. That matters because stablecoins are often used for transferring value in a way that aims to track a fiat currency. When you think about TRON's future, it helps to look at whether these kinds of services keep growing and whether users keep coming back.
Understand TRON step by step
What is TRON?
If you want to learn about TRON, read all about it in the What is overview.
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