What distinguishes TRON (TRX) from other cryptocurrencies?
Tron uses blockchain and peer-to-peer (P2P) technology in order to emphasize content-sharing and decentralized entertainment.
It is viewed as a new generation of social media outlets that allows you to create and share your content with anyone, no matter where they are. The basic unit of accounts in Tron’s blockchain is Tronix. This is the currency that you are paid with, when you make content, often referred to as ‘TRX’, which is its ticker symbol.
People who will take advantage and enjoy Tron are mostly the kind that enjoys social media and various other online entertainment forms and sources.
The cryptocurrency ecosystem of Tron is special in the way that it makes it possible for you to share your content with other people, but at the same time also get compensations for the content and data that you make as a content maker.
This method of functioning is contrary to the way the major social media companies are used to operating and monetizing the user data, for example, YouTube or Facebook.
What Are Tron’s Main Advantages?
After departing from Ripple, Justin Sun started his own crypto project. He was conscious that this move would create a lot of buzz and speculation. Sun’s idea is being regarded as revolutionary by many as people are still divided on this crypto.
When talking about buying or trading Tron, Here are some benefits that you should know:
- Tron has very low transaction fees.
- It allows a greater volume of transactions
- Tron has a great team behind it
- Fast transactions
Let us unfold these steps one by one below
1. Tron has very low transaction fees
Tron’s transaction fees are regarded as almost non-existent as you only have to pay $0.000005 whenever you make a transaction, and that’s pretty much it. The ability of TRON when executing its own main net launch, as well as the utilization of its token by traders and enthusiasts, will be an ultimate determining factor whether these low transaction fees will still remain the same in the near future and it will also shine a light in their importance in the long run.
2. It allows a greater volume of transactions
Justin Sun was a part of Ripple, and when working on his own crypto-project he definitely was looking forward to applying some of the basic principles and popular traits behind Ripple to his own work. If you haven’t heard of them then don’t worry as we got you covered. Making a system that allows a much greater volume of transactions was one of those important ideas, which is another great advantage of Tron.
3. Tron has a great team behind it
Perhaps one of the biggest advantages of Tron is the fact that it has a great team behind. As a matter of fact, this project is being currently worked upon by some of the most talented and promising people in China while keeping one important thing in mind, improving it further and further.
4. Fast Transactions
Because of the fact that its network can support up to 2000 transactions per second, Tron transactions are very fast. This transaction capacity directly influences the hype and the future position of Tron in the cryptocurrency world and makes it possible for this network to revolutionize online media. When this is compared to other coins such as Bitcoin, which boasts 3 to 6 transactions, or Ethereum, which allows 25 transactions, there’s no room for speculation as the advantages of Tron over other cryptocurrencies in this regard are abundantly clear.
Should I Buy or Trade Tron in 2021?
When trading in the cryptocurrency market, people have two main options. They can use exchanges to buy actual cryptocurrency, for example buying TRON on an exchange like Binance, so they become the owners of TRON themselves.
This investment is regarded as long-term (HODL), as when the price starts to rise significantly, the buyer can then sell the crypto coins that they purchased on another exchange. As an alternative to this, a contract for difference (CFD) can be traded on a particular cryptocurrency, and the price difference can then be speculated.
Takeaways
- Tron is a platform, which uses blockchain and peer-to-peer (P2P) technology in order to emphasize content-sharing and decentralized entertainment.
- People who will take advantage and enjoy Tron are mostly the kind that enjoys social media and various other online entertainment forms and sources.
- The cryptocurrency ecosystem of Tron is special in the way that it makes it possible for you to share your content with other people, but at the same time also get compensations for the content and data that you make as a content maker.
- Tron’s transaction fees are regarded as almost non-existent as you only have to pay $0.000005 whenever you make a transaction, and that’s pretty much it.
- Making a system that allows a much greater volume of transactions was one of the main ideas behind Tron, which at the same time is also another great advantage of this cryptocurrency.
- Perhaps one of the biggest advantages of Tron is the fact that it has a great team behind. As a matter of fact, this project is being currently worked upon by some of the most talented and promising people in China.
- Because of the fact that its network can support up to 2000 transactions per second, Tron transactions are very fast.