Tron network and it's difference from other network

in hive-101145 •  2 years ago 

Tron" (TRX) is the native cryptocurrency token of the Tron blockchain network. It is used as a medium of exchange within the Tron ecosystem and can be used to pay for transactions, access decentralized applications (Dapps), and reward content creators on the platform.

Tron was created as an ERC-20 token on the Ethereum blockchain in 2017, but later migrated to its own blockchain network in 2018. As a result, Tron now operates as an independent blockchain network and is not reliant on the Ethereum network.

The supply of Tron is limited to 100 billion tokens, with approximately 71 billion tokens currently in circulation. Like other cryptocurrencies, the price of Tron can be highly volatile and is subject to market fluctuations.
download (4).png

Tron is a blockchain-based decentralized platform that aims to create a global digital entertainment ecosystem. It was founded by Justin Sun in 2017 and has since become one of the most popular blockchain networks in the world.

One of the main differences between the Tron network and other blockchain networks is its focus on the entertainment industry. Tron's goal is to enable creators to directly connect with consumers, bypassing middlemen like app stores and streaming services. This is done by using smart contracts to automate payments and eliminate the need for intermediaries.

Another key difference is Tron's consensus mechanism. Tron uses a Delegated Proof of Stake (DPoS) consensus mechanism, which allows token holders to vote for "witnesses" who validate transactions on the network. This approach is faster and more energy-efficient than the Proof of Work (PoW) consensus mechanism used by Bitcoin and many other blockchain networks.

Tron also has a robust ecosystem of decentralized applications (Dapps) built on top of its platform. These Dapps cover a wide range of use cases, including gaming, social media, and financial services.

download (4).png

Overall, Tron's focus on the entertainment industry, its DPoS consensus mechanism, and its vibrant ecosystem of Dapps set it apart from other blockchain networks.
images (53).jpeg

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!