Ethereum Virtual Machine (EVM)<\/strong><\/a>. Therefore, TRON's implementation of smart contracts is comparable to Ethereum's. However, TRON uses a bandwidth model, whereas Ethereum uses the gas fee transaction mechanism. Thus, TRON’s transactions are more affordable than Ethereum’s transactions.<\/p>\r\n<p>When it comes to transactions, TRON uses a system similar to Bitcoin's <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-unspent-transaction-output-utxo/">Unspent Transaction Output (UTXO)<\/strong><\/a> mechanism to complete them. Essentially, the TRON crypto project employs the <strong>Delegated Proof-of-Stake (DPoS)<\/strong> consensus algorithm. It has 27 super representatives who are responsible for keeping track of the transaction history and validating transactions. Every six hours a new super representative is picked. In exchange for their services, they receive TRX coins produced by DPoS. Thus, TRON tokens cannot be mined. They can only be created as block rewards for super representatives.<\/p>\r\n<p>Besides, TRON has impressive transaction speed since it’s <strong>able to process up to 2,000 transactions per second<\/strong>.<\/p>\r\n<h2>What Is TRX?<\/h2>\r\n<p>TRX, also known as Tronix, is the native token of the TRON network. The tokens were initially created on the Ethereum blockchain using the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-erc-20/">ERC-20/strong>/a> standard. However, they were transferred to the TRON blockchain a year later.<\/p>\r\n<p><strong>The majority of dApps built on the TRON blockchain use TRX tokens. <\/strong>Users must have TRX tokens to gain access to content posted on dApps built on the TRON network. These TRX coins are then sent to the creators of that content. The creators can use the tokens to pay for blockchain services or trade them for other crypto assets.<\/p>\r\n<p>However, TRX tokens also have other use cases:<\/p>\r\n<ul>\r\n<li>TRX tokens are supported as a <strong>payment method<\/strong> when using a credit card called Spend;<\/li>\r\n<li>TRON ATM machine accepts <strong>online transfers<\/strong> in TRX tokens;<\/li>\r\n<li>Whenever TRON issues new tokens, TRX can be used to purchase them;<\/li>\r\n<li>By freezing TRX tokens, users can <strong>generate energy and bandwidth<\/strong>;<\/li>\r\n<li>By staking TRX tokens, users can obtain <strong>voting rights<\/strong>;<\/li>\r\n<li>By holding TRX tokens, users can occasionally receive <strong>BTT airdrop<\/strong> rewards.<\/li>\r\n<\/ul>\r\n<p>It’s advised to utilize specialized cryptocurrency wallets like <strong>TronWallet or TronLink<\/strong> to hold TRX tokens. The tokens can, however, also be kept in other well-known cryptocurrency wallets like <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//ledger-nano-s/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Ledger<\/strong><\/a>, <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//binance-wallet-review/">Binance Wallet/strong>/a>, and others.<\/p>\r\n<p>Besides, make sure to take a look at the TRON price chart above since it displays the live TRX price.<\/p>\r\n<h2>Tokenomics of TRX<\/h2>\r\n<p>The TRX token doesn’t have a max supply. However, the total supply of TRX after its initial issuance was 100 billion tokens. During its token sale in 2017, a bit more than half of the supply was distributed between investors and ICO participants while the other half was dedicated to the TRON Foundation and the founder of TRON.<\/p>\r\n<p><strong>In 2019, around 98% of the 100 billion ERC-20-based TRX tokens that were in circulation were burned.<\/strong> Though the burn had no effect on new TRON tokens that were created on the TRON network. It solely applied to the ERC-20 tokens, which were considered to be ancient and obsolete.<\/p>\r\n<p>If you're interested in the current TRX price, once again, look at the TRON price chart above. There's a chance you've seen some volatility in the TRX price. On the other hand, it's just like it is with most other crypto assets that are traded today.<\/p>","disclaimer":null,"url":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/tron-trx-price","crypto_currency_info":{"id":76,"crypto_currency_id":174,"description":"TRON (TRX) is a cryptocurrency . TRON has a current supply of 101,701,476,685.44183 with 101,701,451,024.37431 in circulation. The last known price of TRON is 0.06596794 USD and is up 1.26 over the last 24 hours. It is currently trading on 581 active market(s) with $916,889,137.88 traded over the last 24 hours. More information can be found at https:\/\/tron.network\/.","tags":"[\"media\",\"payments\",\"tron-ecosystem\",\"bnb-chain\"]","platform":null,"category":"coin","cmc_logo":"https:\/\/s2.coinmarketcap.com\/static\/img\/coins\/64x64\/1958.png","original_links":"{\"website\":[\"https:\\\/\\\/tron.network\\\/\"],\"twitter\":[\"https:\\\/\\\/twitter.com\\\/justinsuntron\"],\"message_board\":[\"https:\\\/\\\/medium.com\\\/@Tronfoundation\"],\"chat\":[\"http:\\\/\\\/t.me\\\/tronnetworkEN\"],\"facebook\":[],\"explorer\":[\"https:\\\/\\\/tronscan.org\\\/#\\\/\",\"https:\\\/\\\/www.trxplorer.io\\\/\",\"https:\\\/\\\/trx.tokenview.com\\\/en\"],\"reddit\":[\"https:\\\/\\\/reddit.com\\\/r\\\/Tronix\"],\"technical_doc\":[\"https:\\\/\\\/developers.tron.network\\\/docs\"],\"source_code\":[\"https:\\\/\\\/github.com\\\/tronprotocol\\\/java-tron\"],\"announcement\":[]}","links":"{\"website\":{\"tron.network\":\"https:\\\/\\\/tron.network\\\/\"},\"community\":{\"x.com\":\"https:\\\/\\\/x.com\\\/trondao\",\"medium.com\":\"https:\\\/\\\/medium.com\\\/@Tronfoundation\",\"reddit.com\":\"https:\\\/\\\/reddit.com\\\/r\\\/Tronix\",\"telegram.org\":\"http:\\\/\\\/t.me\\\/tronnetworkEN\"},\"explorer\":{\"tronscan.org\":\"https:\\\/\\\/tronscan.org\\\/#\\\/\",\"trxplorer.io\":\"https:\\\/\\\/www.trxplorer.io\\\/\",\"trx.tokenview.com\":\"https:\\\/\\\/trx.tokenview.com\\\/en\"},\"technical_doc\":\"https:\\\/\\\/developers.tron.network\\\/docs\",\"source_code\":\"https:\\\/\\\/github.com\\\/tronprotocol\\\/java-tron\"}","data":"{\"id\":1958,\"name\":\"TRON\",\"symbol\":\"TRX\",\"category\":\"coin\",\"description\":\"TRON (TRX) is a cryptocurrency . TRON has a current supply of 101,701,476,685.44183 with 101,701,451,024.37431 in circulation. The last known price of TRON is 0.06596794 USD and is up 1.26 over the last 24 hours. It is currently trading on 581 active market(s) with $916,889,137.88 traded over the last 24 hours. 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exchange-name=Kraken
exchange-logo="https://assets.bitdegree.org/images/kraken-review-horizontal-logo-v1.png"
exchange-score=9.8
exchange-link=https://www.bitdegree.org/crypto/goon/kraken
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What is TRON?
TRON is a decentralized public blockchain founded by Justin Sun in 2017. The major objective of TRON is to support and motivate content creators who currently only receive a small portion of their generated income. The project gives creators greater compensation for their efforts and grants them full ownership rights. Besides, TRON features a vast variety of crypto-based games. The players of these games can accumulate TRX coins and use them to reward and support creators.
Brief TRON Analysis
Based on the technical TRON analysis & evaluation, the current market rank of TRX is #10, while the coin's market cap is $28,178,805,631. In comparison, the Bitcoin market cap is as high as $2.25T! According to our research, the total circulating supply of TRON is 94,667,357,489 TRX coins, while Bitcoin has a total current supply of 19,941,553 BTC coins.
Why Do People Buy TRON & Other Altcoins?
The answer to why people buy TRX lies behind its technology. TRON aims to eliminate the middlemen between creators and consumers by using the features of the blockchain and peer-to-peer (P2P) network technology. What is more, since TRON has a huge community and manages to process transactions faster than Bitcoin, it might be a good long-term investment.