A Guide to TRON Cryptocurrency

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MONTREAL, CANADA - JUNE 20, 2018: Tron crypto currency home page. Cryptocurrency is a digital currency in which encryption techniques are used to generate and transfer funds. Site - tron.network
Reading Time: 1 minute(Last Updated On: December 12, 2018)

This Article is Originally Posted on MintDice.com

TRON is a digital currency created by controversial figure Justin Sun that aims to expand the area of decentralized applications (DApps) by making the tools for their creation and management more accessible to users.

Despite the fact that over 1000 DApps currently exist (mostly on the Ethereum blockchain), creating them is still a huge challenge for developers. This in turn limits blockchain adoption since the technology is best used in applications that normal people interact with.

The TRON platform also rewards users with its asset known as TRX for uploading digital content. Usually, the user receives rewards proportional to the number of uploads they’ve done on the network. This sustains the platform by incentivizing users to upload even more files in the DApp creation process.

The TRON transaction system also bears a huge advantage for users. They are all carried out on a public ledger, allowing anyone to trace transactions even without giving up user data. This system, known as the TRONix transaction system, uses a model UTXO, which unlocks preset amounts of TRON that users send using a defined set of rules.

HOW IS TRON DIFFERENT FROM OTHER CRYPTOCURRENCIES?

A major difference between TRX coin and other cryptocurrencies like Bitcoin is that it cannot be mined.

Apart from the fact that it cannot be mined, TRON bears even more differences to its peers. One of them is that it is mostly entertainment-focused. While the platform retains its decentralized use of blockchain, it is aimed at the global content and entertainment sector through its foundation.

HOW DOES IT WORK?

TRON is capitalizing on the peer-based systems in existence to ensure that creators aren’t cheated out of their work. The platform is achieving this by creating a bridge between them and their consumers.