What is Tron (TRX)?
TRON (TRX) is a hype cryptocurrency that had one of the largest and most profitable ICOs in 2017-2018. The project is a decentralized entertainment content platform, something like AppStore or GooglePlay. Here users can download their games, various entertainment applications and other entertainment content as well as monetize it.
TRON is regarded as the world's fastest-growing public network. As a consensus method, it employs peer-to-peer (P2P) technology and Delegated Proof-of-Stake (DPoS). This sets it apart from Ethereum, which is transitioning from Proof of Work (PoW) to Proof of Stake (PoS) in Ethereum 2.0. (PoS).
The history of Tron
The first mentions of the TRON cryptocurrency appeared in August 2017. Justin Sun, a Chinese entrepreneur, decided to create a decentralized platform where some users could upload their own entertainment content, while others could use these products for free or for a fee.
It was based on the idea of direct contact between creators of games, social networks, instant messaging and other applications and users, without going through intermediaries such as Google, Facebook, Apple, Microsoft, etc.
Initially, TRON was created on the Ethereum blockchain, however, after the completion of the ICO in late spring 2018, the cryptocurrency was "moved" to its own blockchain.
TRON is a cryptocurrency that had one of the most profitable and high-profile ICOs in 2017-2018. In total, 100 billion tokens were issued, which were distributed according to the following scheme:
● Sale to investors through ICO – 40%;
● TRON Reserve Fund: 35%;
● Presale – 15%;
● Peiwo Foundation (an app owned by Justin Sun) – 10%.
The main stage of the ICO was preceded by a presale. The main stage of the initial coin offering began on August 31, 2017. The creator set a Hardcap (maximum raising amount) of $70 million, which was successfully closed. Unfortunately, the exact amount that the team managed to raise as a result of the ICO has not been reported
How can you create a token on the TRON blockchain?
A TRON address [1024 TRX], assuming a TRC10 token is being created; Create TRC20 token, it will carry the address of the smart contract.
To create a token based on the TRON blockchain, the first thing you need to do is go to the Tronscan platform and then use the button in the upper right corner to connect the wallet to the platform.
Then, when navigating in the "Blockchain" -> "Token Tracker" menu, it is necessary to select the "Create Token" item that can be found on the right side of the screen.
At this point, the platform will ask which token will be created, TRC10 or TRC20. The platform provides helpful tips for determining the type based on the purpose of the token.
Then some data about the tokens need to be entered here, such as name, quote, total supply, as far as TRC10 tokens are concerned, it is also possible to determine how many tokens [TRX] are worth compared to TRON, it is to freeze them Still set the launch time for the token; As far as the TRC20 token is concerned, all the information related to the project must be entered, such as smart contract addresses, various social networks and white paper addresses.
Once you have entered all the information, you can create a new token: for TRC10 tokens, you need to pay a fee of 1024 TRX, which is about $13, and for TRC20 tokens, you don't have to pay any fee, but this is required with an Address smart contract so that it can cross-reference the data and load the address correctly.
With just a few clicks, you can create TRON-based tokens from scratch without having to know any procedures.