Tron (TRX) is a fully decentralized platform that incorporates entertainment and content sharing capabilities through the use of blockchain and peer-to-peer (P2P) technologies. It aims at becoming a global entertainment platform that empowers users to own, publish, share, and store data for free.
Tron has a versatile ecosystem, including an upcoming social media channel where people can share and build content with anyone from anywhere globally. Tron’s basic currency unit is called Tronix, commonly referred to as Tron. Creators and artists receive TRX for the content they share.
Tech entrepreneur Justin Sun founded Tron in 2017. At a young age, Sun led the Tron Foundation in an effort to make the network compliant with the ideals of accountability, fairness, and openness. Justin is also the CEO of BitTorrent and founded the Peiwo app, the first live streaming application to accept cryptocurrencies.
Star-studded mentors surrounded Justin Sun to guide him in building the Tron network, including Tim Berners-Lee and Feng Li, who previously led investments at the well-known cryptocurrency exchange Coinbase. Feng Li is also an advisor at Ripple. Jack Ma, the Ali Baba Group’s creator, hand-picked Sun to attend the prestigious Jack Ma Hupan University. Due to the great team and its accumulated intelligence and perseverance, most key crypto influencers expect Tron to succeed.
Currently, Tron is implementing the final two stages of its development roadmap. Smooth and sustainable execution of any cryptocurrency’s roadmap is vital for the project’s overall success. Tron is not expected to be fully complete until the year 2037. Meanwhile, the first four phases have been completed in recent years. Here’s a quick look at what each milestone of the roadmap includes.
Exodus
In this phase, the goal is to provide users easy access to a distributed data transfer system that is quite simple and is based on IFPS-like technology. This will allow participants to upload, store, publish, and share their data on the Tron platform.
Odyssey
Financial rewards are introduced to encourage people to produce content. Instead of clicks and views, which bots can easily exploit, content creators can earn fair rewards through a tipping scheme using TRX. This step intends to lower all fees in general as well as bypass the cost of third-party royalties.
Great Voyage
Tron aims to make it possible for content creators to sell a piece of their personal brand. Hence, Tron introduced an Initial Coin Offering (ICO) incubator. The Great Voyage allows users to have management over dividends, income, and their communication with their supporters.
Apollo
This phase is an addition to the Great Voyage and enables users to create tokens that are pretty similar to those found on Ethereum. Apollo allows creators to make their own personalized ecosystems that accommodate a customized form of payment.
Star Trek
This phase is a decentralized prediction and gaming platform that will be introduced, in line with Tron’s core concept. The gaming platform will allow gamers to play in a decentralized fashion and earn TRX rewards for in-game achievements. The prediction features may contribute to attracting hefty investors.
Eternity
The goal of Eternity is to further decentralize the gaming industry. Tron’s presence should expand as a result of this phase, monetizing the market and rewarding supporters. At the time of completion, Tron is expected to become the largest decentralized gaming platform.
Some factors, including the following, influence Tron’s price:
Market forces are all about the supply and demand dynamics. The value of a cryptocurrency is influenced by supply and demand. When TRX is scarce, the price can go up. In contrast, if there is an abundance of TRX on the market, the price may decrease.
The popularity of any cryptocurrency can be largely influenced by positive or negative media coverage. If Tron continually receives good feedback it may influence an upward price trend. However, if the project receives negative coverage it could lead to a price reduction.
A favorable investment environment is needed for any form of investing. In general, if there is no need or interest for the service provided then investors might be hesitant to participate. The same is true for cryptocurrencies. Since Tron targets the digital entertainment industry, it is assumed that the respective environment will stay favorable.
To keep your investment safe, you should select a hard wallet that accepts Tron. Your options may include Ledger and Exodus wallets.
Now that you have obtained a wallet, the next thing to do is to find your Tron address. It usually begins with the letter T and consists of a long series of numbers and letters. Its location may vary among different wallets.
Now it’s time to purchase some Tron from a cryptocurrency exchange. The process of buying and selling varies between exchanges.
Once you make your TRX purchase on the exchange of your choosing, you can withdraw the coins. When withdrawing you will be asked where to send the coins, and this is the point where you will provide your Tron wallet address. You may first want to perform a test transaction with a small amount of TRX to verify that everything is in order before you withdraw the full amount.
You will find TRX on existing cryptocurrency exchanges such as Binance, Liqui, Bittrex, Cex.io, Coinbase, Kraken, and Bitfinex. Each exchange may offer TRX at marginally different price ranges. You may want to buy from the exchange with the lowest listed price or the one with the lowest transaction fees.
The price of Tron and other cryptocurrencies is continuously changing. You should have a standard price in mind and watch the market trends for when that price occurs. You can set up an alert on Cryptoradar or Coingecko to receive a notification when the market moves above or below the price you’ve set.
An easy option is to set a limit order to buy TRX on a participating exchange at the price and quantity you want to buy at. If Tron hits your price point, your buy order will be filled and you will receive the amount requested.
There are some aspects to focus on when buying Tron. Among these, you should look at the supply/availability of Tron, its future potential, and its dedicated community. Also, review the trading, deposit, and withdrawal fees to be incurred by the exchange you are using. You may also want to read reviews to assess the service quality and security of different cryptocurrency exchanges.
Other cryptocurrencies are gaining popularity. In addition to Tron, the following are some of the most popular cryptocurrencies:
Bitcoin (BTC) is one of the original decentralized platforms. It is incredibly popular, and it has spawned the development of thousands of new cryptocurrencies. This cryptocurrency launched in 2009 is the world’s largest cryptocurrency when it comes to market capitalization. Bitcoin’s scope is so big that it alone occupies more than 40% of the crypto market. Over a period of a little more than a decade, Bitcoin has held the role of the most trusted cryptocurrency asset.
Ethereum (ETH) is the second-most representative asset in the crypto world after Bitcoin. At present, it occupies more than 18% of the market. Ethereum draws its strength not only from being a high market cap currency but also as a platform that has helped build the decentralized finance ecosystem. With the vision of becoming a global platform for decentralized applications, Ethereum is consistently helping users from all across the world to create programs and projects that are resistant to censorship, fraud, and adoption-deterring downtimes.
Another vital property of Ethereum is its smart contract feature that helps fulfill agreements automatically if the parties involved agree to some preset conditions. Ethereum blockchain can host other tokens which are known as ERC-20 compatible tokens. ERC-20 tokens occupy ~40% of the top-100 cryptocurrencies space.
Litecoin (LTC) is a cryptocurrency established in 2011. It is often described as more user-friendly than Bitcoin. Its transactions are claimed to be 4x faster and much cheaper than Bitcoin and Ethereum transactions. Its cost-effectiveness has made Litecoin one of the most widely accepted cryptocurrencies.
PKT Cash (PKT) is new cryptocurrency that is gaining attention. PKT benefits from near-zero transaction fees and is designed for microtransactions. These features make PKT suitable to power bandwidth trading markets and transact at a fraction of the cost in comparison to Bitcoin, Ethereum, and Litecoin.
PKT Cash ($PKT) is rising in popularity by enabling people to monetize their internet bandwidth, which in turn builds an internet powered by the people. PKT is the only layer-1 blockchain in the world that is powered by bandwidth in a completely decentralized way. As more people connect to the PKT Network, it provides an alternative way for people to pay for internet services without requiring a traditional ISP. This type of innovation will enable people to get cheaper internet access compared to traditional ISPs.
PKT is listed on major trading platforms Bittrex Global and BitMart. You can also buy wrapped PKT ($wPKT) on PancakeSwap which is a token pegged to PKT on a 1:1 basis. To trade wPKT, you must go to PancakeSwap and set up a MetaMask wallet. Fund your wallet with BNB, and then you buy wPKT. Once you have wPKT, you can choose to safely swap back into PKT using a website called ODApp.io or keep your tokens in your wallet.
PKT is a proof-of-work mined coin that is mined using the world’s first proof-of-work algorithm called PacketCrypt. Anyone can perform announcement mining, which involves miners adding some encrypted data to a mining pool. Anyone can participate in announcement mining by simply joining a PKT mining pool from a CPU-enabled hardware device running the PacketCrypt software.
Tron is one of the most well-known cryptocurrencies today. It was established in 2017 as a digital coin with strong fundamentals to facilitate economic transactions such as gaming and media engagement. Tron continuously retains its position in the top 50 cryptocurrencies.
Another emerging cryptocurrency of today is PKT. With its impressive background and promising roadmap geared to disrupting the telecom industry, more and more people are joining the PKT community with anticipation for the forthcoming use cases.
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