“One of the largest blockchain-based operating systems in the world….”
Tronix (TRX) is the official currency of the TRON network: a decentralized, peer-to-peer entertainment system that allows for a cost-effective means of sharing online content. Based in Singapore, Tron hopes to be the de facto entertainment system for the globe.
The purpose of TRX is to be used by consumers to pay for content on the TRON platform, with the idea being that it will reward content creators. Rather than rely on middlemen like YouTube or iTunes, TRON seeks to bring content creators in direct contact with consumers through their peer-to-peer network architecture. TRON thus seeks to create a groundbreaking impact on the world entertainment industry which is valued at more than $1 trillion.
Recently, the TRON Foundation made a major move in acquiring BitTorrent, one of the leading clients in the torrent space. With it, TRON hopes to use TRX to incentivize users to share digital content and incorporate the client into their platform.
The Tron Foundation began their ICO on August 31st 2017 and reached their cap in just a few days. Forty percent of the token supply was sold to investors, raising some $70 million worth of ETH and BTC at the time.
- TRON released its own MainNet in June of 2018.
- One of the most active networks in the cryptocurrency space, with higher throughput than both BTC and ETH, TRON can currently handle some 2,000 transactions-per-second.
- TRX holders will have staking rewards and voting rights.
- Similar to Ethereum, TRON will support its own decentralization applications along with its own tokens known as Tron20 tokens. TRX will act as the medium of exchange for all transactions on the network.
- Led by community-development with its own assortments of wallets, block explorers, and so on.
- At the time of writing, 65,748,111,645 TRX is in circulation out of a total supply of 99,000,000,000.
About the Team
The TRON project boasts a strong team led by Justin Sun, who is the CEO. He is an energetic personality who graduated from the University of Pennsylvania. The former chief of Ripple in Greater China, he is was also listed on Forbes Magazine’s ’30 under 30’ in China and Asia.
Other major players and investors in the TRON project include Jihan Wu, the founder of BITMAIN, and Shuoji Zhou, who is the founding partner of FBG Capital. Other leaders in the fashion, entertainment, and tech world in China are also present either on the team directly or as strategic partners.
At the time of writing, the price per TRX is $0.0133 after taking a battering during the bearish winter of 2018. Its all-time-high is around $0.25 which occurred in January, 2018.
Website & Social Media
Please check out the official TRON website along with their Twitter and Reddit pages for more information. You should also check out Justin Sun’s Twitter since he is very active there on TRON-related news.
Currently, there are over 1 million participants in the TRON ecosystem who are holding the token. Their social media also boasts a strong following.
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