TRON is a Blockchain-based decentralized operating system based on a cryptocurrency native to the system, known as TRX. Tron was founded by a Chinese entrepreneur called Justin Sun in 2017
Ever since TRON (TRX) entered the crypto market in 2017, it’s had one of the most vocal followings in the sector. This coin leveraged this community support and its unique technical aspects to become one of the top 10 cryptocurrencies in the world in terms of market cap. More impressively is the fact that it only took TRON two years to accomplish this task.
What is TRON (TRX)?
TRON is a decentralized virtual machine that was built to help usher in the decentralized internet. Similarly to Ethereum, TRON enables Dapp (Decentralized applications. Example, FORTRON) developers to create and utilize complex protocols via smart contracts that live on its native blockchain. Today the platform is best known for its transaction speeds and its lively CEO.
Specifically, the platform is capable of 2000 transactions per second. This performance puts TRX on par with major payment processors such as PayPal. Best of all, TRON has zero transaction fees. You can send a million dollars in TRX to anywhere in the world in seconds and never have to pay a fee.
To grasp the monumental task TRON’s developers seek to take on, it’s crucial to understand a little about the decentralized internet. The decentralized internet differs from the internet you are used to in some key ways. Primarily, there are no hosting companies. Instead, the entire internet is run by personal users.
Until recently, the concept of a decentralized web seemed impossible. The computing power of the world was not up to par yet. However, the transparent nature of blockchain networks makes them ideal for just such a task. This is exactly the role TRON seeks to obtain.
History of TRON (TRX)
The history of TRON began in early 2017. At that time, the firm’s CEO Justin Sun officially launched the Singapore based non-profit organization known today as the TRON Foundation. The mission of this organization was to build the infrastructure for a decentralized internet and provide a democratic system to manage the new network.
Notably, Sun isn’t a stranger to the FinTech sector. For one, he is a protégé of Alibaba founder, Jack Ma. Amazingly, he graduated from Ma’s Hupan University and within months made his way onto Forbes “China 30 under 30” and “Asia 30 under 30” lists. Keenly, prior to the introduction of TRON, Sun had already made a name for himself in the blockchain sector.
For example, Sun was Ripple’s chief representative in the greater China area. This position put him in contact with the network of people he would one day need to make the TRON concept a reality. He also founded a hugely popular live-streaming app called Peiwo. Currently, the app has over 10 million users throughout China.
Even more impressive is the fact that Sun integrated TRON into Peiwo only months after the acquisition. This integration helped boost TRON’s position in the region. Additionally, the strategy expanded TRON’s active user base significantly.
Tron’s Justin Sun (Finally) Gets $4.5M Dinner With Warren Buffett
In a statement after the dinner, Sun said it “was really an honor and I’m grateful for Mr. Buffett’s dinner, wisdom and vision.”
He added that he would “take Mr. Buffett’s advice and guidance to make TRON a better ecosystem, business with all the partners in the blockchain space and beyond,” though he did not provide specifics.
Buffett has auctioned off a dinner with himself every year since 2000, with participants’ funds directed toward charity. Sun placed a record-breaking $4.5 million bid at the Glide Foundation last year.
Justin Sun buys Bittorrent
In July 2018, the TRON Foundation again made headlines. This time the news was that TRON purchased the largest peer-to-peer file-sharing network in the world – Bittorrent. File sharing platforms like Bittorrent were the first forms of decentralized networks in existence. In essence, these platforms laid the foundation for blockchain technology years in advance.
TRON Foundation
The TRON Foundation is a non-profit organization that focuses on expanding the use case scenarios for TRX and the TRON protocol. Today, TRX operates on one of the largest decentralized networks in the world. Additionally, the entire TRON protocol is open-source. Open-source platforms are more secure because they allow the community to test the codes wear-with-all.
Now to conclude these amazing facts surrounding this promising cryptocurrency called TRON;
TRON is the next BIG thing on the cryptocurrency space right now. So we should be looking out to acquiring or better still accumulating as many TRX as possible now it is still very affordable at about $0.03 at the time of making this publication.
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HOW?
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THANKS FOR YOUR TIME.
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