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TRON

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1 TRX = 0.1677 USD
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What Is TRON?

TRON is a public open-source decentralized network designed to transform the digital entertainment industry by bridging the gap between content creators and consumers, thereby eliminating intermediaries. The aim of TRON is to establish a free, global digital entertainment ecosystem where users can create, store, and distribute their content, controlling the entire process. TRON was originally created on the Ethereum network and had the native token, TRX, follow the ERC-20 standard. In 2018, TRON released their own blockchain and began the era of being an independent peer-to-peer network.

Founded by Justin Sun in 2017, TRON Foundation, the organization behind TRON, has a vision to "decentralize the web". Since then, TRON has made a name for itself in the blockchain industry being one of the most robust networks with a host of diverse decentralized solutions, including cryptocurrencies, stablecoins, DAOs, lending and borrowing protocols, crypto wallets, NFT marketplaces, etc.

Resources

Whitepaper: https://tron.network/static/doc/white_paper_v_2_0.pdf

Official website: https://tron.network/

How Does TRON Work?

TRON utilizes a three-layer architecture, divided into a Storage Layer, Core Layer, and Application Layer.

The Storage Layer

The Storage Layer is responsible for storing the data involved in the operation of the TRON network. It utilizes a distributed storage protocol that allows for easy data access and modifications.

The Core Layer

The Core Layer is where all the operations are carried out. It consists of several modules, including the smart contract, account management, and consensus. The smart contract system supports Solidity language and is compatible with Ethereum smart contracts. Account management uses a dual-key system to maintain privacy while providing a convenient user experience.

TRON consensus mechanism is based on the Delegated Proof-of-Stake (DPoS) protocol, where TRX token holders elect Super Representatives (SRs) to support network and validation functions. This consensus mechanism enhances transaction speed and overall efficiency.

The Application Layer

The Application Layer is where developers can build and deploy their apps. It has a user-friendly structure that allows developers to create a wide variety of applications with ease.

Since TRON was originally a fork of Ethereum, it is EVM-compatible. Yet, instead of following Ethereum's PoW, the network implements a customized consensus mechanism called TRON's Delegated Proof of Stake (TPoS). In TPoS, TRON users can stake TRX to vote for Super Representatives (SRs) every six hours. There are a total of 27 SRs responsible for recording and validating transactions on TRON. SRs receive TRX tokens as rewards for their services.

The TRX Token

The TRX token, also known as Tronix, is the native cryptocurrency of the TRON network. It is used in the network to perform a variety of functions. For instance, users need TRX to access content and apps on the network. Content creators, on the other hand, are rewarded with TRX tokens when users consume their content.

TRX also plays a crucial role in the network’s governance. TRX holders can vote for Super Representatives, who then validate transactions and produce blocks. The more TRX tokens a user holds, the greater their voting power in the network. This not only provides a degree of democratic control over the network's operations but also incentivizes participation in the network’s governance.

What Determines TRON's Price?

The current TRON price is a subject that captivates investors and traders alike, given that it is influenced by multiple factors. One of the primary aspects affecting the TRON coin price or TRX price is its circulating supply. A high circulating supply usually exerts downward pressure on the current TRON price, as evidenced by its latest market trends.

Additionally, the TRON price today is notably influenced by its stability and ongoing development activities. Originally created as an ERC-20 token on the Ethereum blockchain, TRON later transitioned to its independent blockchain. This step towards increased stability and continuous introduction of new use-cases and partnerships can significantly boost the TRON USD price.

TRON Price Analysis and Market Correlation

Another vital element in any TRON price analysis is its relationship with Bitcoin and broader crypto market trends. Like numerous other altcoins, TRON's price often aligns with Bitcoin, the market leader. Nonetheless, TRON possesses its unique ecosystem and use-cases, mainly in the entertainment and content-sharing industries, which can, to a degree, decouple its price from Bitcoin.

Market sentiment, frequently visible through TRON coin news and TRON price prediction articles, plays a pivotal role as well. Positive news can lead to increased buying activity, propelling the TRON price live higher, whereas negative updates can produce the inverse effect.

The Role of Investor Interest in TRON Crypto Price

Investor interest and adoption rates significantly impact the TRON crypto price. With a growing array of decentralized applications (dApps) and smart contracts on its platform, TRON is gathering momentum. This activity often manifests itself on the TRON price chart and leads to various TRX price forecasts.

TRON's Blockchain Activities and Their Effect on Price

Finally, the performance metrics of the TRON blockchain, such as rapid transactions and the ability to handle large volumes, can act as indicators that the TRON coin value may either surge or decline.

The current TRON price results from a complex interplay of factors like supply, development initiatives, market sentiment, and overall market trends. Whether you're contemplating buying TRON or merely tracking the TRX USD price for future investment, comprehending these influencing elements can offer invaluable insights into the future TRON price.

Conclusion

In conclusion, TRON is an innovative layer-1 blockchain that aims to revolutionize the digital entertainment industry by providing a decentralized platform where content creators and consumers can interact directly. The TRX token acts as the fuel of the platform, facilitating transactions and enabling participation in network governance. As the world continues to explore the potentials of blockchain technology, TRON undoubtedly stands as a leading example of how it can redefine industries.

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coin.24Hcoin.7dayscoin.30dayscoin.90dayscalculator.common.one_yearcoin_market.all_time
-1.12%+1.84%+9.12%+35.44%+67.46%+8075.31%

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24h$0.1676$0.1703
7d$0.1620$0.1703
30d$0.1532$0.1703
90d$0.1174$0.1703
1y$0.09600$0.1703
coin_market.all_time$0.001091(2017-09-15, coin_market.years_ago )$0.3004(2018-01-05, coin_market.years_ago )

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$14,501,356,975.31
-1.12%
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$14,501,356,919.23
-1.12%
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$402,030,986.19
+3.90%
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+100.00%
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0.0277
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86,462,290,000 TRX
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86.46B TRX
-- TRX
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$0.001900 coin.ico_detail
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3.5
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37.18K(#114)
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860
+9%
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188(#103)
-34%
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0.02%
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13
+1200%
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54%
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46%
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0%
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38
coin_price.reddit_ posts(24h)
33
+3%
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0
0%

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How does TRON's value compare to other cryptocurrencies?

TRON is unique due to its focus on decentralizing web content and digital entertainment. While it has often been among the top 10 cryptocurrencies by market cap, its exact rank and value compared to others vary based on market conditions and the performance of other coins.

What is the history of TRON's price?

TRON (TRX) was introduced for the first time in September 2017, founded by Justin Sun. Its initial coin offering (ICO) price was US$0.0019. In the early phase of 2018, TRON reached its all-time high of around US$0.23. However, the euphoria was short-lived as the cryptocurrency space entered a bearish trend for the remainder of the year, causing TRON's value to slump below US$0.02 by the year's end. In 2019, the currency displayed relative stability, oscillating mostly between US$0.01 and US$0.04. 2021 witnessed a more volatile TRON, which fluctuated between US$0.03 and US$0.14, reflecting the broader volatility in the cryptocurrency market. In 2022, TRON was traded between US$0.05 and US$0.07. As of August 2023, the price of TRON is US$0.076

Is TRON (TRX) a good investment?

In the digital landscape, TRON emerges as a standout with its unique proposition to decentralize content sharing, aiming to be a cornerstone of the Web 3.0 evolution. This ambition positions TRON in direct contrast to the dominant streaming platforms of today. By harnessing decentralized technology, TRON offers a reimagined way for content to be shared and consumed, creating a user-centric experience. This distinct approach doesn't just resonate with users; it also garners the attention of savvy investors, presenting TRON as a potentially enticing investment opportunity. The rising wave of Web 3.0 adoption further enhances TRON's allure. As this new era of the internet unfurls, TRON's principles of decentralization place it at the vanguard. Moreover, with developers on the lookout for alternatives to platforms like Ethereum for dApp deployment, TRON's appeal is on an upward trajectory. Its blockchain stands out, not just for its scalability and high throughput but also for its commitment to energy efficiency through the delegated proof-of-stake consensus mechanism. However, as with any investment, due diligence and consultation with financial experts are essential before making decisions.

What functionalities does TRON offer?

TRON is designed as a decentralized platform for content sharing, specifically targeting the entertainment industry. Some of its main functionalities include: - Decentralized Applications (dApps) Development: Developers can create and deploy smart contracts and dApps on the TRON network. - Content Sharing: TRON enables content creators to publish, store, and distribute their content without intermediaries, potentially allowing them to earn more from their creations. - Token Creation: Beyond the native TRX, TRON supports the creation of custom tokens, expanding opportunities for individual projects and ICOs within its ecosystem. - Decentralized File Storage: With its acquisition of BitTorrent, TRON emphasizes decentralized file sharing and storage capabilities. - Staking and Voting: TRX holders can participate in network governance by staking their tokens and voting for Super Representatives. Overall, TRON aims to build a decentralized internet infrastructure, making web content and digital entertainment more democratic and accessible.

Is it possible to mine TRON?

No, TRON cannot be mined in the traditional sense. Instead of using a proof-of-work (PoW) system like Bitcoin, TRON uses a delegated proof-of-stake (DPoS) system. In this model, TRX holders vote for a select group of representatives, known as Super Representatives, who then validate and produce blocks. While you can't mine TRON directly, you can participate in the network by staking TRX and voting for Super Representatives.

How does staking TRON work, and how does it impact its value?

Staking is a pivotal aspect of TRON's (TRX) blockchain, relying on its Delegated Proof-of-Stake (DPoS) consensus mechanism. Users who wish to participate in staking need to "freeze" their TRX, transforming it into Tron Power (TP), which enables them to vote for Super Representatives (SRs). These SRs are tasked with producing blocks and validating transactions. In return for their work, SRs earn newly minted TRX, and they often distribute a portion of this reward to their voters as an incentive. Over time, stakers can accumulate additional TRX, and if they decide to cease staking, they can unfreeze their assets after a brief waiting period. The act of staking can influence TRON's market value in various ways. When substantial amounts of TRX are staked, they are effectively removed from the circulating supply, which could lead to a price increase due to supply-demand dynamics. Furthermore, a well-staked network signifies a deep community commitment, enhancing the network's security and instilling trust among participants and potential investors. This alignment of interests between TRX holders, SRs, and the TRON network can foster a secure environment, potentially bolstering TRX's value. However, it's essential to recognize that staking is only one of several factors determining TRX's market price, with external elements like market sentiment, technological developments, and regulatory changes also playing significant roles.

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PHOENXCORP
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insight106/750
251.91%
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price_sidebar.total_pnl $969,025.23
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