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What Is TRON?

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Nov 22, 2022
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3 min read
what-is-tron

This blog post will cover:

  • About TRON (TRX)
  • Where did TRON (TRX) come from?
  • What are the advantages of TRON (TRX)?
  • What are the disadvantages of TRON (TRX)?
  • How to buy TRON (TRX) on SimpleSwap?

About TRON (TRX)

TRON is a blockchain-based decentralized platform that allows to share digital content. The most important aim is to eliminate gap between content creators and content consumers. TRON uses p2p technologies to achieve this. So basically TRON acts as a decentralized storage facility. Thus the audience can pay directly to the creators. Consumers use Tronix (TRX) to pay for content.So the one thing that differs TRON from other platforms is its focus on digital content. It seems that TRON has a potential to make a crucial shift in the internet technologies by eliminating a middleman.

Where did TRON (TRX) come from?

TRON was founded in September 2017 by Justin Sun in Singapore. 40% of the coin supply was sold. The rest was withheld by the team for the future development. TRON is backed by the top Chinese developers and businessmen. And not only businessmen are interested in this system. Some artists such as Jay-Z and Jack White have already launched their services on the platform.

What are the advantages of TRON (TRX)?

  • The idea behind TRON is unique and backed by a lot of developers
  • TRON focused is on the users
    
    The uploader is set to receive profit of a value proportional to the contribution.
  • TRX cannot be mined unlike other cryptocurrencies
  • Transactions take place on a public ledger, so transactions can be easily traced

What are the disadvantages of TRON (TRX)?

It may be too early to talk about some disadvantages since TRON is one of the newest platforms. Nonetheless, there are some things that may be considered disadvantages.

  • Too many TRX in supply
    
    Market supply is 100 billion. Some people say that this is a disadvantage.
  • There is no product to back its value

How to buy TRON (TRX) on SimpleSwap?

Let’s say you want to buy TRON. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • For example, you want to swap BTC for TRX. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select TRX in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. TRX will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to TRX exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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