TRON/TRX#9 115

What Is TRON(TRX)?

Tron(TRX) is a popular Proof of Stake Blockchain network known for its low or zero transaction fees and fast payments. The platform allows building dApps, NFT, and Games based on smart contracts. Launched in 2017 with an initiative to offer a decentralized network for creators to host content and later redeveloped into a full-scale open-source blockchain platform.

Founded in March 2017 by Justin Sun, a Chinese Entrepreneur, marketing genius, and CEO until 2021, the platform is now managed by Tron Foundation, Ltd, Singapore.

The Tron blockchain with its network currency TRX performs 2000 transactions/second and consumes 15 seconds/block production with zero network transaction fees. Additionally, it supports TRC-10 and TRC-20 tokens facilitating in creation of new cryptocurrencies on its blockchain. 

TRX coin was first launched in 2017 as an ERC-20 token on the Ethereum network and later migrated to its blockchain. The TRX crypto by market cap is listed in the top 10 cryptocurrencies and continues its dominance by growing its network. 

TRON’S History

• Tron was launched in 2017, with the aim of developing blockchain and virtual machines enabling creators to share and generate revenue from their work in the absence of intermediaries like YouTube, Facebook, and Twitter.

• The Tron Foundation raised $70 million through ICO in 2017.

• In March 2018, Testnet, web wallets. Tron's main net was launched after May 2018, 

• On July 25, 2018, Tron Foundation finished the acquisition of BitTorrent, a peer-to-peer file-sharing device.

• By Jan 2019, TRX reached a market Cap of $1.6 billion.

• In 2021, Justin Sun, Resigned as CEO of Tron Foundation and subsequently reconstructed Tron DAO (decentralized autonomous organization) the blockchain was fully decentralized and handed over to the community managed by users using smart contracts.

•  In Feb 2024, Circle (Company that manages stable coins), stopped supporting USDC tokens on the Tron network.

• In September 2024, T3 Financial Crime Unit( T3FCU), Tron, Tether & TRM Labs was launched to address illicit activity use of USDT on Tron Blockchain.

How Does The Tron network work?

The blockchain operates as a decentralized platform using the Delegated Proof-of-stake consensus mechanism, where “TRX” holders vote for block producers or super representatives, they are responsible for validating transactions. The super representatives are changed every 6 hours and votes will be counted for every 6 hours.

Tron utilizes bandwidth points as payments, by default each user has 600 bandwidth points, which equals 600 bytes of data. Transactions are measured by their size in bytes. If it requires more bytes, then users need to purchase the required amount of bandwidth by staking TRX.

Stakers earn checkpoint submission rewards for providing a snapshot of the blockchain state, as well as transaction fees, The amount staked also enhances their voting power to elect 27 super representatives, these nodes are responsible for proposing blocks eliminating the need for traditional mining or solving puzzles. Nodes can also distribute rewards for partners who are not elected to be among 27 Super Representatives, setting a “Brokerage ratio” in wallets to distribute rewards helping them to receive votes during the election.

Vote rewards are 160TRX/block for block, every 3 seconds block being generated.

TRON’S Price History:

• The initial coin offering (ICO) launch Tron price was $0.002 and listed on Binance Exchange on September 13, 2017, with a price of $0.002.

• TRX recorded an all-time high price of $ 0.30 on Jan 5, 2018, and since then the asset has never neared the ATH value.

• The all-time low for the TRON/Tronix price was 0.001091 on May Sep 15, 2017 ( as of October 2024)

TRON’S Price Prediction: 

• According to Coinpedia, Tron price prediction in 2025 is expected to vary between a potential low of $0.076 and a high of $0.330, an average value of $0.206.

• In 2026, the Tron coin price ranges between $0.093 to $0.44, and the average price is projected to be $0.266.

• In 2027, TRX’s price could span from $0.59 to $0.114, with an average of $0.357 

• By 2028, the TRX price prediction would fall between $0.234 and $0.73, the average price is expected to be about $0.487.

• The average TRON price is estimated at around $0.593, with a potential low of $0.297 and a high of $0.89 by 2029.

• TRX COIN price prediction in 2030 indicates an average price of $0.753. The asset may vary between a potential low of $0.4167 and a high of $1.10.

Where can I buy Tron coins?

• Centralized Exchanges: Tron or TRX can be swapped or traded on Bybit, OKX, Upbit, HTX, and Kraken.
• Decentralized Exchanges: Peer-to-peer trading of TRX is carried out by using Pancake Swap, Uniswap, Kine Protocol, and Squad Swap.

Where can I store TRX?

The best Tron wallets are as follows:

• Hot wallets: Wallets that can be used via the internet providing easy access to the transactions (Tron link, Trust Wallet, TronLink, Hyperpay)
• Cold Wallets: Wallets that provide long-term storage like hardware wallets include Ledger Stax, Ledger Flax, and SafePal 1)