Blockchain "TRON" (TRON) is one of the big projects in the market, which we all know by the name of Tron digital currency and trading symbol TRX. In fact, Tron is the name of the blockchain of this project. When we talk about the digital currency of Tron, it means the cryptocurrency "TRX," which is used as the local currency of this blockchain. As we said, it is bought and sold in exchange for the TRX symbol.
Tron blockchain
Tron is a blockchain and decentralized platform for publishing content and various media that includes many of the features of other blockchains, such as Ethereum. The purpose of building this blockchain is to provide a safe and direct place for content producers to communicate directly with their users, and no external factors are involved in this communication.
The problem many content producers face is that affiliate companies take a large part of their income. For example, consider a content producer who makes videos and shares them on a platform like YouTube. In this situation, the revenue generated by this video is not fully provided to its producer, and Google, the creator of YouTube, takes a large part of it as its fee.
This is a problem that Tron was created from the beginning with the aim of solving it. He tried to use technologies such as blockchain, "Smart Contracts," "Decentralized Applications," or dApps for short, and other concepts to operationalize the idea.
Of course, these days, when several years have passed since then, it is tough to say that Tron has reached its primary goals. In fact, anyone who takes a cursory look at the Tron ecosystem will quickly realize that Tron has drifted away from its original plans and claims and is now more like other similar blockchains like Ethereum than ever before.
The reason is apparent. Like Ethereum and most projects of this model, the Tron blockchain supports smart contracts. For this reason, many decentralized applications have been created on it. For those who do not know, smart contracts are programmed codes that can be implemented on the blockchain. Also, decentralized programs are like regular computer programs, each created with a specific purpose. The difference is that these programs consist of one or more smart contracts and are hosted on the blockchain, and therefore benefit from all the advantages of this technology.
Features of Tron project
Blockchain Tron, also called Tron, has several unique features that distinguish it from other projects in the digital currency market.
The first feature of Tron is the high speed of its transactions. Because Tron uses a particular type of "Proof of Stake" consensus mechanism called "Delegated Proof of Stake, " it can handle up to 2,000 transactions per second. Confirm this figure is only 7 in Bitcoin and 50 transactions per second in Ethereum. In addition, the final confirmation of each transaction in Tron takes only 3 seconds, which is very suitable for the primary purpose of this blockchain, which is to act as a platform for publishing content and media.
Another issue is the many possibilities and applications of the Tron network. Support for intelligent contracts, the high speed of transaction approval, and meager fees have made this blockchain host many decentralized applications. Everything can be found on this blockchain, from lending and deposit platforms to decentralized exchanges, blockchain games, and more. A while ago, Tron unveiled its algorithmic stablecoin, accompanied by many margins due to its similarity to the failed "Terra Luna" project.
TRX digital currency
As we mentioned, Tron digital currency is the same cryptocurrency we know by the symbol TRX, and its full name is Tronix. The maximum amount of this cryptocurrency is 100 billion units, of which 92 billion units are currently in circulation.
The highest price that Tron cryptocurrency has seen was in the first months of its release when it reached $0.3. Tron is traded at around $0.08 when writing this article and ranks 10th in market capitalization.
A Brief History of Tron
The history of Tron begins at the beginning of 2017. On this date, Mr. "Justin Sun" founded a non-profit organization in Singapore called "TRON Foundation" to prepare the infrastructure for decentralizing the Internet. Even the project's slogan remains "decentralize the Internet" to this day.
In the same year, the Tron Foundation attracted about 70 million dollars of initial capital from those interested in the emerging digital currency market and blockchain projects through the "Initial Coin Offering" (ICO) strategy.
Thanks to this successful fundraising, the project's development progressed well in the following months, and the Tron leading network officially started working in March 2018. At that time, Tron operated as an ERC-20 token on the Ethereum blockchain. Still, it was only a short time before the Tron Foundation unveiled its official blockchain and became entirely independent from Ethereum.
A month later, the Tron Foundation announced purchasing the BitTorrent platform, a peer-to-peer network for sharing large files.
The same news made Tron's digital currency reach a market value of 1.6 billion dollars in less than two years and introduce itself to everyone as one of the top 10 cryptocurrencies in the market in this regard.
Justin Sun and the Tron project spent some time without any news or exceptional margins until just a few months ago, when the word of Tron's algorithmic stablecoin, USDD, was spread and created many margins.
Some big swings in the Tron currency
Tron, released at the end of 2017, registered a price ceiling of $0.3 in just four months and the first days of January 2018. However, this fantastic growth soon turned into a downward trend due to the fall of Bitcoin... So, Tron went down to $0.05 in February of the same year. However, at that time, due to the rumors about the purchase of the popular torrent download and sharing site BitTorrent by Tron, the price of this token moved up again and touched the $0.1 range.
In addition, during this period, Tron's price has increased several times due to Justin Sun's promotional activities. For example, in 2019, Justin Sun bid 4.5 million dollars to win the auction for dinner with Warren Buffett, one of the most successful investors in history, making the Tron ecosystem visible.
The subsequent considerable growth of Tron took place in 2021. It coincided with the upward trend of Bitcoin and other digital currencies. The peak of this upward trend was recorded when the news of Tron's cooperation with the Chinese government to help the development of blockchain technologies in this country was broadcast. Tron was able to raise itself to $0.18.
Soon after, due to negative news about the Tron project, including the removal of this cryptocurrency from the "eToro" exchange due to government laws, as well as the resignation of Justin Sun from the position of the company's CEO, the price of Tron fell.
With all these ups and downs, Tron has kept its price above $0.05 until today and even performs better than other cryptocurrencies due to the release of USDD stablecoin.
The founder of Tron digital currency
As we mentioned, the founder of Tron is Mr. Justin Sun. Originally a Chinese entrepreneur, he was known as Ripple's senior representative in China before establishing Tron. The exciting thing about Justin Sun is that in 2017, the Chinese version of the prestigious magazine "Forbes" included him in the top 30 entrepreneurs under 30.
In late 2021, Mr. Sun resigned as CEO of Tron to show how serious he is about the Internet's decentralization philosophy so that the project can operate as a "Decentralized Autonomous Organization" (DAO). In this way, any decision and change to be applied in the project must first be put to a vote among all the members with the right to vote and approved if the majority agrees.
Another exciting thing about Justin Sun is his loud presence on social networks. It is impossible for something to happen in digital currencies, and Justin Sun is indifferent to it.
Tron and Justin Sun Margins
Like any other significant project, Tron and its creator, Justin Sun, have not been spared from rumors and rumors. From the very beginning of the introduction of the Tron project, activists in this field have repeatedly claimed that the developers of Tron, in writing the main introduction article of this project as well as its programming codes, were inspired and even copied from other projects, and worse than that, they did not mention any of their sources.
In addition, in 2019, the cyber security group "HackerOne" announced that Tron's core code has a significant security problem that can be used to disrupt the entire Tron system.
Not long ago, just a few weeks after the release of the stablecoin USDD by the Tron Foundation, each unit of which was supposed to be equal to $1, it faced a price drop for a few days due to the fall of Bitcoin. Of course, it was able to equal $1 again later. This stablecoin has generated a lot of buzz due to its close resemblance to the failed Luna Project stablecoin that lost its value.
Buying Tron from Farhad Exchange
To buy Tron, you can use the professional exchange section of Farhad Exchange. In this historical exchange that started its activity in 2003, it is possible to buy TRX by paying in Rials and other supported currencies. For this reason, you can buy Tron without any problems from inside Iran.
For this, it is enough to enter the official site of Farhad Exchange and, after registration and authentication, enter the Tron market against Rial. This way, you can register your purchase order and wait for completion. Farhad Exchange has enabled it to keep the purchased tons in its internal wallet using new and safe methods. However, you can transfer your Tron cryptocurrency to your digital wallet with a few clicks.