What is TRON (TRX), How and Where to Buy?

Esat Demirtaş 6 May 2023Last Updated: 6 May 2023

4 minutes read

What is TRON (TRX), How and Where to Buy?

Although some cryptocurrencies are known by name in the market, unfortunately, they cannot be recognized by their project. TRON and its token TRX are also a project and cryptocurrency that could fall into this category from the top.

Although TRON (TRX), a most used blockchain and cryptocurrency with low fee transfers and costs, has been in the market for a long time, many questions such as what is TRON and what is TRX Coin continue to be asked frequently.

In this content, we will try to convey all the details about TRON (TRX), especially the answers to questions such as what is TRON, what is TRX Coin and how to buy it.

Contents

What is TRON?

TRON; It is a project dedicated to building a decentralized internet and infrastructure, offering public blockchain support for high throughput, high scalability and high availability for decentralized applications (DApp).

TRON stated that after the blockchain frenzy initiated by Bitcoin, the increasing popularity of Bitcoin and therefore the extremely high network fees required a new network solution, and then Ethereum, which had the title of the largest altcoin, emerged as a solution because it faced similar problems, July 2017 was established in.

Founded in Singapore in 2017 under the name of TRON Foundation, TRON launched the open source protocol in December of the same year. In March 2018, Testnet, Blockchain Explorer and Web Wallet were launched.

In June 2018, TRON acquired the worldwide known BitTorrent (BTT), creating the Genesis block and declaring its independence. In October of the same year, TRON launched its seamless toolkit and 360-degree support system, the TRON Virtual Machine (TRON Virtual Machine or TVM).

With the acquisition of BitTorrent, TRON has united more than 100 million users in the TRON ecosystem through Project Atlas, and has also begun to encourage developers to launch new and exciting DApps at very low costs.

Having a layered architecture divided into 3 as Storage Layer, Core Layer and Application Layer, TRON’s protocol is dependent on Google Protobuf, which supports multi-language extension and .

The consensus mechanism is built on Delegated Proof of Stake (DPoS), while the core layer houses various modules including smart contracts, account management, and consensus.

The storage layer has a unique distributed storage protocol as Block Storage and State Storage. The Application Layer, on the other hand, is designed in such a way that developers can create DApps and customized wallets, as expected.

TRON Virtual Machine (TVM), TRON’s virtual machine that supports many systems and applications from the creation of a decentralized crypto exchange (DEX), is combined with the existing development ecosystem to provide an efficient, convenient, stable, secure and scalable custom-built blockchain system to millions of global developers. It connects seamlessly and supports Solidity.

What is TRX Coin?

TRX, which stands for TRONIX, is a MainNet token based on the TRON protocol.

TRX Coin, the basic computing unit of the TRON blockchain, connects all transactions and applications on the blockchain in an empowered TRON ecosystem.

TRX, which first appeared as the Ethereum ERC20 token unit, was later moved to the TRON MainNet and almost all of the TRX Coins on the Ethereum network were gradually burned.

Where to Buy TRX Coin?

TRX Coin is perhaps one of the easiest cryptocurrencies to buy. Because it is quite difficult to find a crypto exchange that cannot be bought.

Although not as much as Bitcoin and Ethereum, it is possible to buy TRX Coin, which we can call TRON Coin, one of the most popular cryptocurrencies of all crypto markets, from almost all centralized and decentralized crypto exchanges.

How to Buy TRX Coins?

You can follow the steps below to buy TRX Coins on Binance, the world’s largest crypto exchange listing TRX Coin:

Sign in to your Binance account. If you do not have a Binance account, click here to create your account with discounted commission.
After depositing money in your account, come to the Spot Trading, Market buying and selling platform and convert your currency into USDT or BUSD crypto-assets.
Then find the parity you want to buy from TRX/USDT or TRX/BUSD parities from the same place and complete the purchase by clicking on the Buy TRX button after determining the amount you want to buy.

If you need support on the detailed use of Binance Exchange, you can review our article titled Binance Exchange and Detailed User Guide.

If you want to buy TRX Coin on a different crypto exchange other than Binance Exchange, although we recommend Binance Exchange, you can also choose the following exchanges:

Frequently Asked Questions About TRON (TRX)

In this section, we will try to answer the most frequently asked questions about both TRON and TRX Coin. This section will be regularly updated in line with incoming requests and questions.

Who is the Founder of TRON (TRX)?

TRON (TRX); It was founded in 2017 by Justin Sun.

How is TRON (TRX) Mining Made?

TRON (TRX); It has a staking system called Delegated Proof of Stake (DPoS), which is a category of Proof of Stake (PoS) protocol. Therefore, hardware mining is not possible as in the current Proof of Work (PoW) mining system of Bitcoin and Ethereum.

In order to mine TRON (TRX), you can own a certain amount of TRX Coins and use it in staking pools.

Is TRON (TRX) Reliable?

TRON (TRX); It is one of the most trusted cryptocurrencies in the markets and also one of the most preferred cryptocurrencies due to its low pricing in transfer fees.