In this article, we will talk all about the Decentralised Exchange Tron and its native Cryptocurrency token Tronix.
Cryptocurrency and Blockchain Technology has seen unimaginable heights in 2021. Many argue that 2021 has been the year of Cryptocurrencies and technologies related to Cryptocurrencies. However, to engage with cryptocurrencies one need to buy them first. So, to engage with cryptocurrencies a user needs someplace to buy and sell cryptocurrencies. A user can buy and sell cryptocurrencies at an exchange. These exchanges are called Dex (Decentralised Exchanges).
One of the many Decentralised Exchanges, Tron is an open-sourced, decentralized Exchange with Smart contract functionality. Also, it uses proof of stake for its consensus algorithm. Additionally, the exchange has its native token named Tronix or TRX.
The platform originally took off in March 2014. The credit for its creation goes to the Chinese Tech entrepreneur, Justin Sun. The Tronix token is originally an Ethereum based ERC-20 token.
Since 2017 Tron’s management is done by the Tron Foundation, a Singapore based non-profit organization.
Smart contracts and Tron
Tron allows smart contracts. Using smart contracts, a user can build decentralised applications (dApps) according to one’s desires. It aims to provide people access to content that has no limits. Which any Geophysical conditions or socio-political situations cannot limit.
Users on the platform can eliminate middlemen. Here, users can directly pay their desired content creators in the Tronix Cryptocurrency token for their content. So, this method essentially eliminates the use of middlemen.
Additionally, this also means that those creating content have absolute control over the content they make. Also, they control how the distribution of data is happening, giving more power to the creator.
The Organisation behind the platform – Tron Foundation
TRON Foundation, the parent organisation behind the Tron platform is a non-profit organization. The organisation is based in Singapore. The TRON Foundation had its establishment in the year 2017.
All about Tron
The most desirable feature of Tronix that makes it an awesome token is the no transaction fee. In fact, Tron offers no transaction fee to its user.
Also, it is among the top 30 Cryptocurrencies in the terms of market cap as of now. Additionally, the coin has a market cap of $8 billion. TRX coin was sitting at $0.07965 when this article was being written, as reported by CoinMarketCap.
Where to buy Tronix(TRX)
Tronix can be bought in any major Cryptocurrency exchange. Famous exchanges such as Binance, Kraken and Coinbase offer Tronix.
Major Indian exchanges that offer Tronix are WazirX, CoinSwitch Kuber, CoinDCX and ZebPay.
Hopefully, in this article, you learnt all about Tron and its native token Tronix. If you liked this article and want to read more like this, visit our website for more.