October 26, 2021

BlogCoinz

Cryptocurrency and Technology

Coin of the Week: Tron

Tron (TRX) is a blockchain similar to Ethereum in the way that it is more of a utility rather than a currency. What I mean by that is the Tron blockchain is used to develop decentralized applications known as Dapps. Tron, mostly focuses on entertainment and data sharing tokens like BTT and Ante however anyone can build Dapps on the Tron blockchain for practically any purpose.

Tron does differ from Ethereum in a few key ways. First off Tron is non-mineable. You can not mine Tron but have to earn it or buy it off of an exchange. Secondly, Tron has a fixed max supply of TRX while Ethereum currently has no mining limit and thus no true max supply. It’s also important to note that Tron started out as an ERC20 token that moved to their own chain last year.

One of the better things about Tron (or worse depending on your opinion) is its creator and #1 hype man Justin Sun. He is very passionate about the Tron project and it really shows. Justin has also shown to be a huge supporter of the crypto environment as a whole, a great example being when he offered to cover Binances 7000 BTC loss they had from a recent hack. Justin is also known for making announcements for his announcements. A tactic that some find tacky but despite what many think does the job. It gets people talking and gets them to pay attention, in some cases, without realizing it. He also recently won the charity lunch with Warren Buffett, giving him an opportunity to talk about cryptocurrency to the stock giant who is currently very anti crypto.

Tron, on the surface, is another approach to Dapps which means there are no limits to what the Tron blockchain including smart contracts. At the end of the day its one of Ethereum competitors but has a huge community and they are doing some interesting things with some of their partners (ante and BTT for example).