TRON (TRX) Price Today: TRX Live Price, Charts, News - Crypto.com UK

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About TRON

TRON Price Summaries

TRON's price today is $0.286, with a 24-hour trading volume of $749.77M. TRX is +0.83% in the last 24 hours. It is currently -3.30% from its 7-day all-time high of $0.2958, and 1.69% from its 7-day all-time low of $0.2813.TRX has a circulating supply of 94.72B TRX.

What is TRON

TRON is a blockchain-based decentralized protocol that aims to build a global free content entertainment system. It uses blockchain and distributed storage technology to create a decentralized content entertainment ecosystem that allows users to freely publish, save, and own their data. The native cryptocurrency of the TRON system is the TRX coin.

A Brief History of TRON

TRON is a decentralized, entertainment-focused blockchain and content-sharing network. It was founded by Justin Sun, a former chief representative for Ripple, in September 2017. The TRON Foundation raised $70 million through an Initial Coin Offering (ICO) that same year.

The project's testnet, blockchain explorer, and web wallet were launched in March 2018, followed by its mainnet launch in May 2018. Soon after, TRON ranked among the top 10 cryptocurrencies by market capitalization. The TRON Foundation has since acquired three companies: the file-sharing provider BitTorrent in June 2018, the blockchain app store CoinPlay in March 2019, and the blockchain-based social network Steemit in February 2020.

In June 2018, TRON transitioned its protocol from an ERC-20 token on the Ethereum network to an independent peer-to-peer network, with the TRON DAO gradually burning the old ERC-20 tokens. The total number of burned ERC-20 TRX tokens has reached over 99.19% of the total supply. The network provides a decentralized virtual machine that can run programs using an international network of public nodes. It has no transaction fees and can handle up to 2,000 transactions per second. The core technology of TRON is built by adapting IPFS and Ethereum's platform.

TRON has faced accusations of plagiarism regarding its white paper. In response, Justin Sun claimed that the translation was done by volunteers and that their carelessness was the cause of the issues.

How TRON Works

The TRON network is based on the idea of decentralization, meaning the blockchain's data is fully open and not controlled by a central authority. Content creators can earn the TRX token as a reward for uploading their material.

TRON's architecture is structured into three layers: a storage layer, a core layer, and an application layer. The protocol allocates computational resources evenly among TRX holders using internal pricing mechanisms like "bandwidth" and "energy."

TRON uses a consensus method based on Delegated Proof of Stake (DPoS). In this system, transactions are validated by 27 "super representatives" who are responsible for keeping track of the transaction history. Super representatives are elected by TRX holders and receive TRX as a reward for their services. A new block is added to the TRON blockchain every three seconds, and those who add the block are rewarded with 32 TRX coins.

What is TRON Used For?

Creators can design their own tokens for use on the TRON network, which can then be used in user-created decentralized applications (dApps). The primary TRX token serves as the foundation for these new coins. The final stage of the network's development plan includes support for completely decentralized games, where consumers can directly reward the creators if they enjoy the game.

With a transactional capacity of up to 2,000 transactions per second, TRON is significantly faster than many other blockchains. For example, Ethereum handles around 25 transactions per second, and Bitcoin handles 3-6. This high transaction speed makes TRON a scalable network with the potential to revolutionize online media and other applications requiring high throughput.