TRON (TRX) is a decentralized operating system based on the blockchain established in 2017, developed and launched by the TRON Foundation. The tokens of the project were first released on Ethereum in the version of ERC-20. With the establishment of the network environment of TRON itself, TRX was also transferred to the TRON chain.
The original purpose of TRON is to build a global free content entertainment system, provide ownership for producers, and create an ecosystem platform that everyone can participate in and benefit from. It is called the TRON ecosystem. The protocol can allow each user to publish, store and hold data freely, and based on the form of centralized autonomy in the past, determine the distribution, subscription and push of content through the issuance, circulation and transaction of digital assets, empower content creators, and form a decentralized content entertainment ecosystem. With the continuous technological development and ecosystem layout, TRON's goal is not limited to a global content sharing platform, but to create a mature operating system and network that supports various customized decentralized applications.
TRON supports smart contracts, blockchain systems and decentralized applications, creates Dapps on the TRON Network and provides content, and can obtain digital assets as rewards for providing creativity and contributions. Meanwhile, in TRON, users can freely upload, store and share various forms of content creation, and individuals can also freely issue assets. In the future, other people will get all the benefits and services when purchasing, and digital assets will also match the whole set of decentralized infrastructure.
How does TRON (TRX) Work?
TRON adopts the DPOS (delegated proof of stake) consensus mechanism, that is, network users select high-performance nodes as network maintenance nodes to ensure the TPS of the network and achieve high throughput. This mechanism is similar to the process of selecting deputies to the People's Congress. No matter how many tokens they hold, everyone has the right to vote and select a proxy node (weighted voting). The node with the highest number of votes will undertake the task of the new block (currently there are 27 super nodes, and the votes will be counted again every 6 hours. As long as the number of votes is still in the top 27, the block can be generated continuously). Nodes that have not completed accounting tasks will also be replaced by more efficient nodes, thus reducing the time consumption cost of block creation and confirmation. Therefore, the TRON TPS is much higher than other public chains (approximately 2000), and has a lower transaction rate and higher speed.
In the TRON consensus, all those who participate in the voting, whether they are unsuccessful or vote for the winning bidder, or vote for the unsuccessful bidder, will receive certain compensation to encourage more users to participate in the election. The selected nodes will package the blocks in sequence according to certain allocation rules and obtain the maximum share of rewards.
What is TRON (TRX) ?
TRONIX is the mainnet native token of TRON protocol issued by TRON DAO, referred to as TRX.
The total amount of TRX is 100 billion. During the ICO, 40% of the tokens are allocated for public offering, 35% for TRON Foundation and ecosystem, 15% for private placement, and 10% for other companies.
TRX plays a very important role in the TRON ecosystem. Users can hold TRX to participate in the issuance of TRON tokens, purchase tokens, obtain corresponding energy and bandwidth by freezing TRX, and the address holding TRX will automatically obtain BTT token rewards. Presently, TRX supports credit card payment and ATM online transfer.
TRON (TRX) Crypto Wallet
In addition to placing TRX in the Gate.io exchange to facilitate trading, TRX can also be placed in the crypto wallet.
In the network environment of TRON, there is a wallet - TronLink, which was first launched on the official website of TRON and supported by the TRON Foundation. The private key is stored locally and encrypted by a multi-layer algorithm to ensure data security and node reliability.