What Is TRX Crypto: Key Features to Know
TRX is the native cryptocurrency used on the TRON network. TRX serves as the platform’s internal currency and is used to pay for content and services on the TRON blockchain. When the TRON Foundation launched TRON (TRX) in 2017, 100 billion tokens were issued. Of these, 34.25 billion TRX were distributed through an ICO held to fund the TRON project’s development.
Currently, 86.47 billion TRX are in circulation, as the TRON super representatives burned some of the tokens to help stabilize their market value. There aren’t any plans to issue more TRON (TRX) tokens in the future.
What Is TRX Crypto Used For?
• Paying for content and services within the TRON network
• Rewarding network nodes to encourage participation
• Voting for and supporting super representatives
• Investing and trading on cryptocurrency exchanges
Since the TRON blockchain is widely used in the entertainment industry, TRX on TRON is often seen as the ‘fuel’ for gaming and media content. The aim is to make the coin a go-to payment option for the global online entertainment market. TRON (TRX) uses a delegated Proof-of-Stake (DPoS) consensus system, meaning mining is unavailable.
Key TRON Strengths and Weaknesses
• Fast transactions thanks to high network capacity
• Low fees for transfers and smart contracts
• A convenient option for creators to earn from their content
• An active network with many DeFi projects and gaming apps
• Partnerships with major companies and strong developer support
*TRON (TRX) Cons
• Centralized network controlled by a small number of nodes
• Regulatory challenges due to TRON’s active marketing
• Competition with bigger platforms like Ethereum and Solana
• Frequent criticism for using technology similar to other blockchains
• TRON (TRX) token price volatility
Conclusion
TRON is one of the best-known cryptocurrency smart contract projects.
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