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What is cryptocurrencies?
Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. The most important feature of a cryptocurrency is that it is not controlled by any central authority: the decentralized nature of the blockchain makes cryptocurrencies theoretically immune to the old ways of government control and interference. Cryptocurrencies can be sent directly between two parties via the use of private and public keys. These transfers can be done with minimal processing fees, allowing users to avoid the steep fees charged by traditional financial institutions.
What is Tron?
Tron is a blockchain-based operating system that allows you to create decentralized applications and share media content. The TRX token itself is used to gain access to certain features of the operating software. The primary purpose of the token is, therefore, to be used in the TRON network. However, it is still a store of value and can be traded on exchanges, which is why TRX can also be called a virtual currency. Tron was founded in 2017 by Justin Sun. Originally TRX was ERC-20 based tokens based on Ethereum, but in 2018 Tron split up to create their own token. In the same year, Tron acquired BitTorrent, the largest file-sharing platform on the Internet, which was a big step forward in its efforts to create a level playing field for media on the Internet. TRX’s highest price was achieved in January 2018 when the coin reached $0.30, but now it is worth only $0.01. At the time of writing this article, it was ranked 17th in terms of market capitalization.