What Is Tron (TRX) and How to Trade It?

Tron is a peer-to-peer (P2P) decentralized blockchain network that functions autonomously and has its distinct proprietary Cryptocurrency, known as "TRX" or "Tronix."

Interestingly, as of December 2023, the TRX Cryptocurrency is considered among the 10 biggest Cryptocurrencies worldwide.

Accordingly, for Cryptocurrency enthusiasts and traders, gaining familiarity with Tron becomes imperative. In the following article, we delve into essential aspects, providing you with a comprehensive understanding of this innovative digital currency.

Here’s what you need to know about the Tron network and its native Cryptocurrency (TRX or Tronix):

TL;DR

• Tron is a P2P decentralized blockchain that allows direct content sales, eliminating the need for intermediaries.
• The native Cryptocurrency of the Tron network is called TRX or Tronix.
• TRX/Tronix can be traded through Cryptocurrency CFDs or through a direct purchase from the Cryptocurrency exchange.
• As of December 2023, TRX is considered one of the world’s top 10 biggest Cryptocurrencies by market capitalization.

When Was Tron Founded?

The Tron network was founded in 2017 by the Tron Foundation; a non-profit organzation based in Singapore by its current* CEO Justin Sun (a Grenadian entrepreneur and businessman). While the network was initially available in Asia, it later became available globally.

*As of December 2023.

TRX ICO: When Did the TRONIX Coin Emerge?

The TRX ICO was initiated in August 2017 and completed in September 2017. During its ICO the Tron Foundation raised a capital of about $70 million.

What Does the Tron Network Do?

Through its blockchain functionalities, the Tron network allows content creators to directly sell their content to consumers, eliminating the need for intermediaries.

As such, Tron mainly aims to offer content creators a decentralized platform for their content through which they get to have control over their content and direct interactions with their customers.

Moreover, the Tron network, powered by its native Cryptocurrency TRX, facilitates decentralized applications (dApps) and transactions.

The Advantages and Disadvantages of the Tron Network

The Tron network is considered advantageous given the fact that it can run a lot of applications and can conduct transactions quickly.

In addition, it has the potential of attracting diverse audiences due to its ability to interact with platforms like online gaming, social media networks, and more.

On the other hand, the Tron network experience is still not as developed as some of its peers and has some limitations when it comes to centralization.

Tron’s Role in the Media

It may be worth noting that Tron was made with the purpose of taking on the traditional media industry. This may be highlighted in its motto, "Decentralize the Web", which showcases Tron’s mission to eliminate the need for intermediaries like big media corporations like Amazon or Netflix.

Consequently, Tron's success can be influenced by the overall quality of its programming and how it competes with the traditional media landscape?

How Does Tron and Ethereum Relate?

It is noteworthy that the Tron network incorporates many aspects of Ethereum's basic blockchain technology, such as dApps, tokens, and smart contracts.

This resemblance has subjected Tron to scrutiny and criticism for its perceived lack of originality.

Nevertheless, some suggest that, despite this and in spite of being a relatively newer platform compared to Ethereum, Tron could emerge as a contender to the latter.

How to Trade Tron (TRX)?

Trading Tron (TRX) can be conducted through Contracts for Difference (CFDs). Tron CFDs are derivative contracts that allow traders to trade on both rising and falling Tron prices.

This type of trading is leveraged, and, as such, carries both risks and rewards. In other words, if the market goes along with your predictions you can magnify your gains. On the flip side, if the market goes against your position, then you’ll magnify your losses.

As such, it is important to understand how CFDs function before delving into trading them. To get a better understanding of how CFDs work, watch our “What Is CFD Trading” video.

Another way to trade Tron (TRX) is through directly buying it from a Cryptocurrency exchange.

Conclusion

To summarize, Tron has become a major player in the Cryptocurrency realm, with its decentralized blockchain network and TRX Cryptocurrency ranking among the top 10 globally (as of December 2023).

One way to trade its native Cryptocurrency is through Plus500’s Cryptocurrency CFDs.

FAQs

What is Tron?

Tron is a P2P blockchain that allows direct and decentralized content sales.

What is TRONIX or TRX?

TRONIX or TRX is the native Cryptocurrency of the Tron network.

When was Tron created?

Tron was founded in July 2017 by a Singaporean non-profit organization, and the TRX ICO took place in September of 2017.

How can TRX be traded?

It can be traded through a Cryptocurrency exchange or through Plus500’s Cryptocurrency CFDs.