What is Tron (TRX)?

Tron is a blockchain network that aims to be a platform for creative people. With Tron, artists, writers, illustrators, film-makers, and musicians can release their work without having to publish on large centralised platforms such Amazon, YouTube, Apple, Facebook, and more. 

This new cryptocurrency was created to challenge the world’s leading platform for global entertainment, and it has been thriving since its first deployment in 2017.

Here’s everything you need to know about Tron, the network and its native cryptocurrency.

Key takeaways:

• Tron was designed to primarily host entertainment content and enable direct, peer-to-peer interaction between creators and consumers by means of blockchain technology.
• The native currency on Tron’s network, TRX, is used to as a medium of exchange for content creators to access the facilites and applications on Tron’s network.
• Tron uses a Delegated Proof-of-Stake protocol (DPoS) to process transactions on the network. This enables the network to validate transactions, create new blocks, and earn rewards.

New to crypto? Start with the basics with our crypto 101 guide.

What is the Tron Network?

Tron is a blockchain platform for global digital content entertainment and was founded by Justin Sun through the Tron Foundation, a Singapore-based non-profit organisation.

The project offers security, scalability, and privacy. Furthermore, it aims to be a platform on which users can share digital content easily and inexpensively.

It also allows users to create their own personalised tokens on the platform, and allows initial coin offerings (ICOs) in order for the token issuer to raise funds, create collectibles, or set up a personal payment system.

Learn more: What are ICOs? Initial Coin Offerings Explained.

What is Tronix (TRX) and how does it work?

Tron’s native currency is Tronix (TRX), and it is a token that carries value, is tradable, and powers the token economy of the Tron Network.

Its most simple use case is a payment system in which audiences pay with TRX for the content that they want. The creator(s) of that content will also receive TRX from the audience.

What is the goal of Tron?

The goal behind the Tron (TRX) platform is to remove the middlemen of the content distribution industry, such as social media platforms and giant publishers.

An increasingly apparent problem is that these companies have an unfair advantage over the audiences, content creators, and advertisers.

Audiences have to agree to share some of their data in order to use the platform. This data is then sold to advertisers; a small portion of the ad revenue generated is rewarded to content creators.

On some platforms, audiences are still plagued by relentless advertising even if content creators have not attempted to monetize their content.

The Tron Network wants to return the freedom to its users so that audiences have more control over their data sharing policy, and content creators can enjoy a more proportionate share in ad revenue while keeping the ads to a minimum.

Tron allows anyone to share content with the world and be rewarded for it. Nobody apart from you will benefit from your contribution to the network. Content published on the Tron Network is also censor-resistant, which means no government bodies can shut down access. 

Investment considerations with Tron (TRX)

With all that said, what are some things to consider before adding Tron (TRX) to your crypto portfolio?

• The Tron Network raises a futuristic vision and is built on solid infrastructure.
• The Tronix token has presented better performance in the market than other cryptocurrencies in bearish trends.
• Decentralisation of content on the Internet empowers users and prohibits different types of censorship (e.g. YouTube applied censorship on content about cryptocurrencies in 2019).
• Tokens are frequently burned in order to slow down their circulation a little, causing their price to rise due to increased demand.
• Not many projects can compete with Tron’s vision.

Tron is proof of a cryptocurrency project based on collaborative work, which opens up to all members from all nations to participate. This principle encourages the participation of users in the Tron Network around the world.

Buying TRX tokens is even easier than making a bank transfer (faster too) and you can do it from multiple platforms and crypto exchange companies that have a Tron wallet.

Looking to add Tron (TRX) to your portfolio? Buy Tron (TRX) in South Africa.

How to buy Tron Coin (TRX) in New Zealand

Anyone can acquire Tronix in multiple ways, but the most common is through exchange companies. These platforms are made up of a market in which hundreds of tokens circulate and each one has value.

Start here: Buy Tron (TRX) with NZD.

Tron (TRX) is just one of over 160+ altcoins that we offer at Easy Crypto NZ. Our collection consists of NFT tokens, Metaverse, DeFi, Stablecoin, and more.

Check the latest rates: Use our crypto converter tool to check the latest rates for TRX/NZD.

Pro tip: you can preview the conversion rates for any crypto in our collection by going to our complete list of crypto assets.

We’ve also got a handy YouTube guide for purchasing crypto on our platform. Check it out below!

For a more detailed guide: Read our in-depth guide on how to buy cryptocurrencies in New Zealand.

Feel free to reach out to us with any inquiries and questions you may have! We are always ready to help.

For more topics on all things crypto explore the articles on our learning hub at Easy Crypto.