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This month we listed Tron (TRX) on the Blockchain.com Wallet and Exchange.
In case you’re not familiar with TRON, this article outlines what exactly is TRON, some of its use cases and why it’s gaining so much attention.
What is TRX?
- Tron is an open-source blockchain network that supports smart contracts, dApps, and a token ecosystem called TRC-20.
- The network’s native token is called Tronix (TRX).
- TRX is the basic unit of account on the Tron blockchain just as ETH is on Ethereum.
Use cases of TRX
- Payments. TRX has integrated with both credit cards and ATMs to enable spending.
- Token issuance. Tokens built on the Tron blockchain (TRC-20 tokens) can be purchased with TRX.
- Voting. Holders of TRX can freeze it within the Tron ecosystem in exchange for governance and voting rights.
Why TRX is getting attention
- ETH alternative. TRX is an alternative to Ethereum thanks to low and no-fee outbound transactions.
- Stablecoin. USDD, a newly-launched algorithmic stablecoin issued by the TRON DAO, traded under its dollar peg in June but has since held steadily at ~$1.00.
- Adoption. TRON has gained incredible traction in recent years, with over 110 million users on the blockchain and upwards of 3.8 billion transactions.
Want to learn more about TRX?
Listen to TRON Founder Justin Sun and Blockchain.com Co-Founder and CEO on the Blockchain.com Podcast.
Interested in TRX?
You can now buy, sell, swap, and earn up to 8% in rewards (for eligible users) on TRX in the Blockchain.com Wallet.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.