Tron Coin: Complete Tutorial About Tron Cryptocurrency

From mid-December to early January, Tron (TRX) experienced 2,000% growth – yes, two thousand (2,000) percent growth in just three weeks! Almost everyone has heard of the Tron coin, but do you know what Tron is? Or are you thinking, what is Tron Coin? you are in the right place!

So, What Is Tron Coin?

To understand what the Tron coin is, we need to start from the very bottom. Tron is a decentralized entertainment platform and content sharing platform that uses blockchain and peer-to-peer (P2P) technology. You can think of it as the next generation social media outlet where you can create and share content with anyone and anywhere in the world. The currency is used to pay you for your content, and is often referred to as its ticker symbol ‘TRX’. People who enjoy social media, online gaming, and other forms of online entertainment, will love Tron.

By using the Tron cryptocurrency ecosystem, not only will you be able to share content with others, but you will also be compensated as a creator of the content and data you generate. Such a model operates in direct opposition to traditional social media companies, such as Facebook, which monetize user data. Often they do this without the user’s knowledge, profiting only for themselves. When you use the Tron cryptocurrency, you are in control of your data and you will be compensated for your content.

How To Use Tron?

The biggest advantage of using TRX coin is that you empower content creators and artists around the world to gain ownership of the content they create.

Tron is leading a movement that some call the third generation we or the third web. While it may sound like something in the future, this third-generation web or web 3.0 can empower people to use the internet the way it was originally invented – as a decentralized open network.

The social media giants in Silicon Valley build on the infrastructure that has been given to them and transform it in such a way that the tech giants or Tech Giants can make money from user data. However, Tron will put the power back into the hands of the users, so they can control their data.

By using the Tron cryptocurrency, you guide the internet back on its way. You put the data back under your control where you have the choice not to disclose or monetize the data for your benefit. So, one of the answers to the question of what is Tron coin is is something that will take the internet to its original destination.

From a developer’s point of view, Tron is also something special because at the moment TRX is being built in such a way that it allows the use of any high-level language for smart contracts or smart contracts. This means future developers can use any programming language they want to build on top of this open software design.

How Does The Transaction Work?

To assist you in fully realizing what Tron coin is, I’ll provide you with a glimpse into how TRX coin transactions work.

Like many other digital currencies, TRX coin transactions take place inside a public ledger. In this public ledger, the history of each transaction may be traced back to the 1st transaction. The transaction model that Tron coin utilizes is comparable to the transaction model utilized by Bitcoin. The only difference is that Tron has improved the Bitcoin model by providing additional security.

In the UTXO model, there is a basic output which is an amount of money sent to the user’s TRX address along with a set of rules or rules that will unlock that specific amount. But to understand what TRX is, you don’t need to know too much about the UTXO model. That’s for developers and geeks who likely know more than necessary. You need to focus on the big picture, sticking to the general utility that Tron provides for people who want to reclaim control of their data and still use social media.

What Potential Does Tron Have?

Since you already have a pretty solid picture of what the Tron coin is, it’s time to talk about its potential. Justin Sun’s relationship with Jack Ma raises questions about whether there will be a merger or amalgamation of the two entities in the future. News of an incident like this would be a big deal and would certainly launch Tronix on a clear and guaranteed path of success. Tron is still relatively new and still in its infancy. Still, we can’t be too optimistic.

Tron crypto may fail to thrive because of Justin Sun’s handling of communications, which has sometimes infuriated investors. Sun has a reputation for providing the latest news or updates that let you know that a major announcement will be made in the future. This is understandably is an annoying thing. People also view Sun as a young man who is too volatile and perhaps too naive to run a blockchain that has the power of Tron.

Negative views on the reputation of Tron and Justin Sun emerged in early 2018 when news spread that Tron was using some of the Ethereum code and violating Ethereum’s copyright license. Since then this has been corrected. At the same time, there were also rumors about Justin withdrawing his coin worth around IDR 17.38 trillion. Afterward, this news proved to be a rumor as well.

Some people argue that there is a black campaign created to damage Justin Sun’s reputation. Sun’s reputation was often bombarded when he started learning about the Tron coin and learned that it was only in the first year of a roadmap that stretched to 2023. In other words, this was a young period for Tron, so news like that will also disappear with time. Check out Jed McCaleb from Stellar. People suddenly forgot all about Mt Gox when news of the Stellar partnership fostered with IBM emerged. So, again now is a young day for Tron.