$TRX TRX refers to Tronix, the native cryptocurrency of the TRON blockchain platform. Here's a breakdown of what you should know about TRX:
What is TRON?
* TRON is a decentralized blockchain-based platform established in 2017 with the goal of building a free, global digital content entertainment system with distributed storage technology.
* Its aim is to empower digital content creators by allowing them to connect directly with their audience without intermediaries.
* The TRON network boasts high scalability, high availability, and high throughput, aiming to be a foundational operating system for decentralized applications (dApps).
* It utilizes a three-layer architecture: a core layer, a storage layer, and an application layer.
* TRON employs a Delegated Proof-of-Stake (DPoS) consensus mechanism, where the community elects "Super Representatives" to validate transactions.
TRX Cryptocurrency:
* TRX is the native token of the TRON blockchain.
* It serves various purposes within the TRON ecosystem:
* Means of exchange: Used for transactions between users and within dApps on the network.
* Staking: Users can stake TRX to gain "TRON Power," which allows them to vote for Super Representatives and potentially earn rewards.
* Governance: TRX holders can participate in the governance of the TRON network through voting.
* Payment for resources: Users can freeze TRX to obtain Bandwidth and Energy, which are necessary resources for executing transactions and smart contracts on the network.
* TRX was initially launched as an ERC-20 token on the Ethereum blockchain but later migrated to its own mainnet.
* The total supply of TRX is approximately 94.95 billion tokens, with the same amount currently in circulation as there is no maximum supply.
Key Features of TRON:
* Decentralization: All data on the TRON blockchain is free and not controlled by any central authority.
* High Performance: TRON claims to handle a significantly higher number of transactions per second (TPS) compared to older blockchains like Bitcoin and Ethereum.
