What Is TRON (TRX)?

Jason Matt Lukis, MBA, MS
2 min readAug 23, 2021
Image Credit: Tron

TRONIX is a MainNet token based on the TRON Protocol issued by TRON Foundation, known as TRX.

TRX is the basic unit of accounts on the TRON blockchain. The value of all other tokens derives from that of TRON. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem, with abundant application scenarios that power transactions and applications on the chain.

Tokens include TRX, BTT, USDT, & JST which can be TRC10 or TRC20 tokens. Tron also allows developers to build applications on its decentralized network and create their own tokens.

Transactions per second

Bitcoin can handle up to 6 transactions per second

Ethereum up to 25 transactions per second

TRON claims that its network has a capacity for 2,000 TPS or transactions per second.

About Tron

TRON was founded by Justin Sun who now serves as its CEO. He was educated at Peking University and the University of Pennsylvania and was recognized by Forbes Asia in its 30 Under 30 series for entrepreneurs.

TRON has established dual headquarters in the Americas and the Asia Pacific, with the establishment of more overseas offices in preparation for their team’s rapid expansion.

Tron has ambitious plans to create a decentralized internet and a platform for smart contracts and decentralized apps to compete with Ethereum. It is also a proof-of-stake coin, that gives certain rights and privileges, to individuals that are staking their coins, such as voting rights. This means that during Tron’s elections they will be able to vote, thus allowing them to have a voice in Tron’s governance.

Tron also supports Java and Python, which may help attract more developers.

You can take a look at live information on TRX at Coinmarketcap

If you would like to buy this alt-coin, you can do it on Kraken.

Learn more about me here:

www.jasonmattlukis.com

  • The contents of this article are for informational purposes only and do not constitute financial, accounting, or legal advice.

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Jason Matt Lukis, MBA, MS

MBA in Management from NSU | MSci. in International Real Estate from FlU | Graduate Student in Social Media at UF