What is TronCoin? TRX Coin Explained
What is TronCoin?
To fully understand what the Tron coin is, we need to start from the basics. Tron is a blockchain-based, peer-to-peer (P2P) decentralised entertainment and content sharing network. You can think of it as a next-generation social media outlet where you can create and share content with anyone, anywhere in the world. Tronix is the Tron blockchain's basic unit of account. It's the money that compensates you for your content, and it's known by its ticker symbol, TRX.
People who enjoy social networking, online gambling, and other forms of online entertainment will enjoy Tron.
By using the Tron cryptocurrency ecosystem, you can not only share content with other people, but also get compensated as a content creator for the content and data you create. This model serves in direct opposition to how traditional social media companies, like Facebook, monetize user data.
When you use the Tron cryptocurrency, you are in control of your data and will be compensated for its content.
Tron Foundation
The Tron Foundation is a non-profit entity based in Singapore, the strong industrial arm of Southeast Asia. The foundation is primarily dedicated to operating the Tron crypto network on the principles of openness, fairness, and transparency in supporting the Tron development team.
Regulation and compliance are extremely important to the Tron Foundation's personnel. They have the approval of the Accounting and Corporate Regulatory Authority and are under the supervision of the Singapore Companies Act.
I still wonder, what is Tron coin? Learning more about the founder, Justin Sun, will help you better understand the coin.
Justin Sun
The leader of the Tron Foundation is young Justin Sun, who has an incredibly impressive track record for someone of any age, let alone a 27-year-old. To begin with, he founded the Peiwo app which already has 10 million users. Justin Sun has led Peiwo to become the first live streaming app to receive crypto. Peiwo is a well-known player in the internet audio content community.
Forbes listed Sun as 30 under 30 in Asia. So when someone asks you what is Tron coin or why choose Tron coin, always keep its successful founder in mind. He is also the protégé of Jack Ma, the Ali Baba group's founder. Jack Ma chose Justin Sun to study at the prestigious Jack Ma Hupan University, which has a lower acceptance rate than Princeton.
Justin Sun is also a University of Pennsylvania graduate. While the relationship between Ali Baba and Tron is still unclear, some of Ali Baba's top developers are leaving Alibaba for Tron, making the issues even cloudier.
Beyond Jack Ma, Sun surrounded himself with an even broader team of stellar mentors, including Feng Li and Tim Berners-Lee. For those of you who don't know, Feng Li is an advisor to Onda and led the investment at Coinbase. The World Wide Web is commonly credited to Tim Berners-Lee.
Beyond the team, there are a growing number of key crypto influencers who believe the TRX coin will succeed, including Hacker Noon.
How can TRON be used?
The biggest benefit of using the Tron crypto is that it is empowering artists and content creators around the world to own the content they create.
Tron is at the forefront of a movement known as the third network. Although it sounds futuristic, the third web, or web 3.0, will allow people to use the Internet as it was originally intended: as an open, decentralized network.
During the dotcom bubble, the Internet had taken a turn away from its decentralized origin. The social media giants in Silicon Valley built on the infrastructure they were given and reconfigured it so that the tech giants could make money off user data. Cambridge Analytica is the case and the point of this system. However, on the Third Web, Tron will put the power back in the hands of the users, so that they are in control of their own data.
By using the Tron crypto, you are taking the internet back to its original path. You are putting the data back under your control where you have the option of not disclosing it or monetizing it for your own benefit. So one of the answers to what Tron coin is is something to bring the internet back to its original purpose.
From a developer point of view, Tron is also special because it is currently being built in a way that allows the use of any high-level language for smart contracts. This means that developers in the future will be able to use whatever programming language they prefer to build on top of open software design.
One of the most important products developed on Tron so far is Crypto Cubs. Right after crypto kittens were first released, Tron tried to toy with the upcoming Chinese Year of the Dog. Tron dogs still sell for the equivalent of $18.
Conclusion
With a young and energetic leader in Justin Sun, this coin is going places. The founder is one of the most connected people in crypto. Think of Justin Sun's network when he answers the question "what is Tron coin?".
Have you ever heard the quote? "Show me who you surround yourself with and I'll show you who you are"? This quote also applies to business mentoring. The first-degree network of Justin Sun, as well as his vision for the future of Tron, are valuable assets. This project is still very new and I am tremendously excited to see what the future holds for Tron!
Now, if you have come to the conclusion that you would like to buy yourself some Tron coins, you should be aware that this should be done only on trustworthy cryptocurrency exchanges.