TRX: All You Need to Know

TRX: All You Need to Know
All you need to know about TRX- Bundle

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Are you a lover of altcoins? TRX is one altcoin that has become very popular in recent times. It continues to perform relatively well even in the middle of a crypto bear market. In this article, we will highlight everything you should know about TRX, its future in the cryptocurrency market, and how you can start trading it. 👩🏽‍🏫

The asset was founded in 2017 by TRON Foundation, a Singaporean non-profit organization. It has its blockchain-based operating system, which aims to decentralize the internet and its infrastructure. TRX now has a market capitalization of $6,003,643,463. 💰

Origin of TRX

TRX is a decentralized cryptocurrency similar to Ethereum in the sense that it was built to help decentralize the internet. It aims to host a global entertainment system for the cost-effective sharing of digital content.

TRON is a token used within the ecosystem as payment for goods and services; including access to DApps (decentralized applications).

TRX Rapid Fire

  • Good news for content creators! TRX is used to reward content owners, curators, and consumers. It can also be used by producers, promoters, and investors.
  • ‍TRX hit an all-time high of $0.3004 on January 5, 2018, and had an all-time low of $0.001091 on September 15, 2017.
  • In June 2018, TRX moved from being an Ethereum-based cryptocurrency to being hosted on TRON's public blockchain MainNet.
  • TRX transactions are free, but you need to pay a small amount of TRX to the TRON network. This fee is called “gas” and it is what enables transactions on the network.
  • Transactions are confirmed by the Delegated Proof of Stake (DPoS) consensus system. Different from BTC’s Proof of Stake in the sense that miners have to stake cryptocurrency to validate a transaction.

TRX Attention Mechanism

The TRON team believes that the future of online content consumption will be led by blockchain technology, and for this reason created a decentralized platform and ecosystem with its virtual machine (the Tron Virtual Machine), enabling developers to create smart contracts for content on the blockchain.

The attention mechanism works like this: Imagine you posted a video (or any other type of content), when a user views your video, they are rewarded with tokens that you have earned from viewing other videos. This means that if someone likes your video enough to watch it again, they get more TRX!

TRX FAQs

Here are a few frequently asked questions relating to TRX.

1. How much is 1 TRX? ‍

At the time of writing this article (Thursday, August 25, 2022), the price of one TRX is $0.06548

2. What is the Life Cycle of TRX?

It has a circulating supply of 92,397,686,650 TRX and a maximum supply of 100 billion tokens. 🌀 However, unlike some other cryptocurrencies such as bitcoin, that limit is not set in stone.

3. Is TRX secure?

TRXhas the backing of the highly reputable and ultra-safe TRON blockchain, whose delegated proof of stale consensus mechanism makes it nearly impossible for hackers to breach the platform. 🔒

4. Is TRX a good investment?

TRX is a good investment in 2022 and has immense potential for all long-term investors. Experts predict a bright future for the asset. But remember to do your research (DYOR) as this is not financial advice. 😉

5. How can I buy TRX?

‍ If you would like to buy TRX you can do so at www.Bundle.africa or via the mobile apps on iOS and the Google Play Store.

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