What is TRON (TRX) aka TRON Coin aka TRONIX? TRON Explained | TRX Explained

Every cryptocurrency begins 
with a mission in my mind and   with TRON that mission has been 
bringing content creators and consumers   closer together. Essentially, the main 
objective of TRON is to build a free,   global digital content entertainment system with 
distributed storage and provide an easy and cheap   way to share content although TRON has also been 
expanding into the decentralised apps market.   If you want to learn more, please smash the like 
button to help the channel and stick around! Like most cryptocurrency platforms on the 
market, TRON is decentralised, uses blockchain,   uses delegated proof-of-stake and has its own 
cryptocurrency called TRONix which goes by the   ticker TRX although people also refer to it 
as TRON coin. TRON was founded back in 2017 by   the non-profit TRON Foundation which is headed 
by Justin Sun and has grown tremendously for a   4-year old platform! There are already over 44 
million accounts on the TRON platform with over   2.1 billion transactions made so far so we can 
tell that TRON is not messing about! The worth   of a cryptocurrency is often decided by how many 
people actually use it which is a concept that   I've mentioned in previous videos and it is known 
as the network effect.

Essentially, the network   effect is the phenomenon by which the value 
or the utility that a user gets from a product   depends on the number of users of that product. 
Because TRON provides a very social product and   is all about connecting people and allowing 
content creators to show off their work,   the number of account holders and users is 
critical. Over the last 12 months, the number   of accounts on the TRON network has increased 
sevenfold from 6.4 million to 44 million!   Seven times! If it keeps up the same pace over the 
next two years, it will have 2.1 billion accounts,   which is insane and probably not 
going to happen, but you never know! Before we go on any further, let's just take a 
quick look at its currency, TRON coin. Currently,   it is 25th in terms of market cap at about 
$4.8 billion with a price of 6.7 US cents   and a circulating supply of 71.6 billion according 
to CoinMarketCap. There is also about 31.5 billion   TRON coins locked according to TRONSCAN, but 
unlike some of the other cryptocurrencies like   Bitcoin or Ethereum, you cannot mine more TRON 

There are also occasional coin burns,   although they are not systematic from what I've 
seen unlike Binance Coin for example and the   most covered one was the 1 billion coin burn 
back in 2018, but that looked like a one-off. So, what is TRON used for? What does it actually 
do? As I mentioned at the start of the video,   TRON wants to bring content creators and content 
consumers closer together.

To do this, it will   operate a content sharing platform where creators 
can share their content with their audience,   but unlike current content platforms like 
Facebook, YouTube or Netflix where the middleman,   meaning the platform, gets the most profits, the 
creator will get the majority of the profits with   TRON! Instead of getting just a piece of the pie, 
the content creator will get the entire pie or   most of it at least. Unfortunately, this content 
sharing platform is still under development from   what I have seen and I wasn't able to find any 
specific release dates. In fact, one of TRON's   main criticism is that its CEO, Justin Sun, tends 
to be very sporadic when announcing updates to the   TRON platform.

Other cryptocurrencies like Cardano 
have more concrete development plans and roadmaps,   which are extremely useful to remove 
some of the uncertainty surrounding them. Cryptocurrencies are still an emerging field. 
There is still a long way before they establish   themselves so there is naturally a lot of 
uncertainty and it is good when the developers   behind the cryptocurrency try to deal with it. 
Still, TRON has a lot of good things going for it.   It has strong partnerships with Samsung, 
BitTorrent, Opera, Swisscom Blockchain   which is a huge benefit for the TRON network. 
TRON also allows decentralised apps and smart   contracts to be created on its platform via 
DAppChain which is a sidechain of TRON and   is meant to help decentralised apps operate on 
TRON with lower energy consumption, faster speed   and enhanced safety. In fact, TRON is one of 
the leading decentralised app platforms after   Ethereum and EOS. Another big benefit of TRON is 
its high TPS, meaning transactions per second.   Some claim that TRON can consistently operate at 
2,000 TPS, its official blockchain explorer says   that TRON can only reach up to 748 TPS compared 
to Bitcoin's 3 to 6 and Ethereum's 15 to 25   so we can see that TRON is much faster, but there 
is definitely room for improvement there.

Also,   TRON is scalable, it is actively developed, 
it's basically looking good right now although   it is important to remember that it is still in 
its very, very, very early stages. Like I said,   their main product is still not operational. 
Also, TRON coin's price is extremely volatile   like with any other cryptocurrency. In mid-April, 
TRON reached 16.5 US cents, but now it is back   down to 6.7 US cents at the start of July which 
is a 60% drop in less than 3 months. As an asset,   cryptocurrencies, especially smaller ones like 
TRON, are extremely risky! We still don't have any   regulation, they are far from being part of the 
mainstream, they are not used that widely yet so   it is important to manage your expectations. 
There may be a few TRON millionaires and a couple   of billionaires, but they are the exception. 
A lot of people have lost money, hundreds,   sometimes thousands of dollars trading TRON, 
especially those who bought in after April this   year.

I personally do not own TRON coin, nor trade 
in it, I'm just interested in the tech behind it   which is really fascinating. All I'm going to 
say is be careful if you decide to own TRON coin. Putting that aside, there is a lot more that 
can be said about TRON, but I wanted to keep   this short and brief. If you are interested in 
TRON, I would suggest looking into Ethereum,   too. Also, check out some of the other 
cryptocurrencies that I've covered in   my Cryptocurrency for Beginners playlist. 
I hope you enjoyed the video. Please like,   share and subscribe to help grow the channel! 
Thank you for watching and I will see you soon!.

You May Also Like