In this small educational piece, we will discuss the key facts about Tron, a relatively new and exceptional digital coin on the market.What is Tron?
Tron has hit the cryptomarkets in September 2017. Just like Bitcoin, this young cryptocurrency is traded online. Yet, unlike the king of all cryptocurrencies, Tron is attached to the new blockchain-based technology that looks into revolutionizing the way people consume entertainment.
What is the purpose behind Tron?
This promising coin claims to enable users to freely store, own, and publish data. This aims to create a decentralized content distribution platform.
In fact, the company states this will allow overcoming its centralized competitors such as Google Play and Apple’s store.
What is the price of Tron?
Tron is based on Ethereum, while its official coin’s name is Tronix (TRX). As of now, the price of one native Tron token stands at $0.158866, with its market cap being $10,445,152,346.
What are the advantages of Tron?
Tron allows creators to regain their management over data and still use social media.
The primary motive of the Tron coin was to allow the spread of data without any limits or restrictions Users are allowed to store and upload data, videos or audio through content enabled channels. Every time a user uploads digital content, he earns digital assets and the content ecology evolves.
The uploader is set to receive profits of a value proportional to his/her contribution. TRON’s most important value is that it focuses on people instead of organizations. With the help of the TRON cryptocurrency, users can also keep their digital footprint intact. This will result in fewer luring ads on the side of the websites you are browsing.
The transaction system also has a huge advantage. Tronix transactions take place on a public ledger, where transactions can be traced easily without any barriers. The tronix transaction model uses a transaction model called UTXO, where a set of rules help unlock a specific set of amount that has been sent through TRON.The TRX coin cannot be mined, unlike other cryptocurrencies.Tron mining therefore, is not possible.
How to buy Tron?
Normally, you would buy TRX with Bitcoin or any other cryptocurrency. You can do so via any cryptocurrency exchange. However, there is also an option to buy Tronix with real money.
Yet, you need to exercise extreme caution while trading TRX or any other cryptocurrency. The nature of digital coins is volatile, while they are able to plummet and surge very rapidly.
CoinSwitch,best cryptocurrency trading platform allows you to buy and sell TRX. It also shows you the price of the cryptocurrency you wish to exchange it with, across multiple of the most popular cryptocurrency exchanges.