TRON (cryptocurrency)

TRON is a blockchain-based protocol and operating system that was founded by Justin Sun in 2017 and is headquartered in San Francisco, California. The platform launched the TRON mainnet in June 2018 and is designed to allow users to create decentralized digital content applications. According to TRON's website the platforms can handle over 2,000 transactions per second.

Besides its primary use as a platform for content creators, Tron is often used to complete transactions, as TRX transactions have no fees. Tron is used as a payment method by many companies including Travala, SpendCard, Bitnovo, etc. Tether moved its stablecoin to Tron's network, called USDT-Tron.

Introduction to Tron.

On June 25, 2019 Tron announced the company will be buying back their own TRX cryptocurrency in several batches with at least $20 million worth of TRX in each batch. The company also announced they will unlock their TRX holdings held by the TRON Foundation on January 1, 2020, and has no plans to use the unlocked TRX for anything specific (at the time of their announcement).

On November 29, 2018 Tron announced their Blockchain Gaming Fund with $100 million in funding. The company claims the fund will be used to support blockchain game developers, and made the following public statement:

TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology. TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.

From August 31, 2017 to September 2, 2017 TRON held their initial coin offering (ICO) selling approximately $70 million worth of TRX cryptocurrency.

TRON was founded by Justin Sun, who now serves as CEO. Educated at Peking University and the University of Pennsylvania, he was recognized by Forbes Asia in its 30 Under 30 series for entrepreneurs. Born in 1990, he was also associated with Ripple in the past — serving as its chief representative in the Greater China area.

The goal behind the Tron (TRX) platform is to remove the middlemen of the content distribution industry, such as social media platforms and giant publishers. The Tron Network wants audiences to have more control over their data sharing policy, and content creators to receive a proportionate share in ad revenue while keeping the ads to a minimum. Content published on the Tron Network is also censor-resistant, which means no government bodies can shut down access.

Tron is a blockchain-based protocol used in a multimedia system that allows users to freely publish, store and own data, as well as work with digital assets, thereby forming a decentralized entertainment ecosystem.

The Tron (TRX) was first launched through an ICO, which raised around $60 million.

Tron's native token, the TRX, was created with a maximum reserve of 100,850,743,812, with the current amount of TRX tokens in circulation being 71,659,657,369.

The main security feature of Tron is its delegated proof of stake consensus mechanism. The system rotates the network validators every six hours, and each of these validators is chosen by the voters (the users who have wagered their TRX token).

The Tron community can contribute to the development and earn rewards by participating in the Bug Bounty Program, an original way to combat the constant stream of bugs associated with software development. As part of this program, the Tron Foundation offers rewards in TRX for any bugs or vulnerabilities discovered.