TRON is an ambitious project dedicated to building the infrastructure for a truly decentralized Internet. TRON (TRX) is the project’s native cryptocurrency and the 15th-largest cryptocurrency by market capitalization.
Let’s learn more about TRX definition and find out how to buy TRON (TRX) cryptocurrency in the fastest and most effective manner!
TRX Definition: What Is TRON (TRX) Cryptocurrency?
What is TRON meaning? TRON (TRX) cryptocurrency is a blockchain platform focused on entertainment content. At first glance, the platform is something between Steam and Google Play but based on blockchain technology.
Project users get access to games and other entertainment apps, graphic and video materials. Within the platform, users also can communicate and create their own tokens, games and apps. In other words, it is a distributed environment that is convenient for both consumers and entertainment content developers.
What is TRX, and how does TRX work? TRX is a project’s native cryptocurrency, which is used to directly pay the content creators to access their applications and to power programs running on the TRON network.
In addition to its own internal currency, TRON (TRX), the project supports BitTorrent (BTT), USDT (TRC-20), and Just (JST). The former are required to participate in voting and obtain rights in the TRON ecosystem. The second ones are intended for content developers; they allow you to create your own internal currencies.
Creator of the TRON (TRX) Cryptocurrency
Justin Sun is the creator of the Tron cryptocurrency, the owner of BitTorrent, and several technology firms. Before joining the crypto industry, he was famous for launching the most massive voice messaging app in China — Peiwo.
He worked at Ripple Labs until 2016, then left to start his own project. Just a year after its launch, 100 million users were registered on the Tron network.
The project is also technically managed by Kilson Young, who has worked for UFIDA for over fifteen years. This company is known for the supply of programs and services to enterprises in China and other Asian countries. Young also worked for a company that provides monitoring solutions for Chinese highways.
The founders plan not to distribute the raised funds among the founders but to use them entirely for the project’s development. TRON’s creators have enlisted ACRA’s support from Singapore’s accounting and corporate governance department. Therefore, the project is under Singaporean jurisdiction.
How Does TRON Work?
TRX mining is not supported. At the start of the project, 100 billion coins were issued, but approximately 35% of them were stored in the TRON Foundation wallet. Probably, one can consider these funds as a ‘controlling stake’ belonging to the creators.
How does TRON work? Well, the platform’s development is subject to a strict plan, scheduled as much as 10 years ahead, which cannot but impress.
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- 2017-2018: platform monitoring in test mode.
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- 2019-2020: formation of a decentralized environment for posting content and the launch of a mechanism to encourage active system participants.
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- 2020-2021: resolution of technical issues related to the accrual and payment of dividends.
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- 2021-2023: implementation of a public mechanism for creating new tokens based on the platform with the possibility of their sale through ICO and exchange for other cryptocurrencies.
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- 2023-2025: development of new projects based on the TRON source code.
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- 2025-2027: creation of a crowdfunding system based on the blockchain & implementation of tools for the rapid creation of online platforms using TRON technologies.
Thus, the ultimate goal of implementing the plan is to create an independent information space where each user will have access to all digital content and be able to swap tokens and receive additional ones, contributing to the project’s development.
TRON Price Today
What is TRON (TRX) price? Currently, TRON is 78.85% below its all-time high of $0.30, reached in November 2021. The current TRON (TRX) cryptocurrency price is $0.06614 as of February 14, 2023.
According to the technical analysis of TRON’s expected prices in 2023, the minimum value of TRON will be $0.0859914. The maximum level that the TRX price can reach is $0.09999. The average price is expected to be around $0.0889911.
How to Buy TRON (TRX)?
If you’re wondering where to buy TRON, you should definitely think about buying it at Switchere. On our platform, you have an opportunity to buy TRX in the fastest and most convenient way. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
How to buy TRON with USD? At Switchere, you can buy crypto for fiat money or swap crypto for crypto. In addition to traditional purchases with a bank card, you can use alternative payment methods available (SEPA, SOFORT, Google Pay & Apple Pay, and local Asian banks)
Here is an easy step-by-step guide on buying TRX at Switchere!
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- Visit our website and log in to your account.
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- Choose the currency pair for exchange as well as a payment method and enter the amount. Don’t forget to check the transaction details by clicking on ‘Details.’ Once you’ve done, click the ‘Buy’ button.
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- Specify your TRON wallet address and click on the ‘Buy’ button.
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- Enter your card details and click on the ‘Pay Now’ button. Please take into account that you have a limited amount of time to send your funds. Elsewise, the transaction will be cancelled automatically.
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- Once you send the funds and your transaction receives the required number of blockchain confirmations, the amount of purchased TRX will be sent to your provided wallet address accordingly.
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- Congratulations! The transaction is completed, and now you can check your TRON wallet.
Usually, Switchere transactions take 5-30 minutes. If you have any troubles with the exchange process, let us know at [email protected].
Prospects for TRON (TRX) Cryptocurrency
According to experts, the TRON project will be actively developing in the coming years. There are a few reasons why experts are so confident that the market capitalization and value of TRX will grow:
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- The project is focused on the entertainment industry, whose market turnover today is estimated at a trillion dollars. Experts say that already now, the leading players in the entertainment market are looking for distributed databases and are considering transferring business processes to the blockchain. But to make the transition, they need turnkey solutions that can bring blockchain and entertainment together. TRON can become such a solution.
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- Well-known Asian businessmen support TRON. Tang Bingsen (creator of the cult online game ‘Clash of Kings’), Dai Wei (founder of bicycle sharing company OFO), Yin Mingshan (CEO of industrial giant Lifan), and others.
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- CTRON Foundation cooperates with well-known cryptocurrency and blockchain projects, which automatically increases their reputation in the cryptocurrency community. To date, Bitmain, Bixin, ICO365, OpenLedger, Gravityless, and others are among the main partners of the project.
The developers have presented a 10-year plan for the implementation of TRON, which includes a unique functionality: the launch of gaming applications, online casinos, and entertainment blockchain-based channels. According to experts, the project creators are serious about surpassing Google Play and App Store.
Conclusion
TRON is one of the most famous cryptocurrency projects that uses the best practices to build an entertainment ecosystem. The network offers a solution for content creators who want to avoid censorship or other drawbacks of centralized platforms. In addition, it has an attractive transaction payment system, thanks to which you can actually make free payments. All this makes TRON an interesting choice for both developers and ordinary users.
Today, we’ve found out the TRON definition, TRX meaning, and the best way to buy TRX crypto. We hope that our complete guide on TRON will come in handy!
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