Tron Cryptocurrency: Everything A Beginner Needs to Know

Cryptocurrency

What is Cryptocurrency and what is TRON Cryptocurrency? Cryptocurrencies are one of the more innovative creations of the digital age. They represent a chance to make one’s fortune by being at the front of change as opposed to catching up to it. The systems are all being developed now and many independent groups are vying to become the next big thing. One of these independent developers is TRON and they have their Tronix.

What is TRON

TRON is a company based out of Singapore that is producing its cryptocurrency the Tronix(TRX) in order to individualize and produce digital content. While utilizing a blockchain network, Tron is attempting to change the digital entertainment industry, allowing smaller production companies to get into the mainstream and create the content they want. This is done through a Peer to Peer blockchain network that allows storage of the content through many partner computers and outside of a single server, reducing cost while increasing downloading speed.

Token of TRON

The Tronix is the cryptocurrency being developed by the TRON foundation. This is the unit that is being used for the hosting fees, purchasing of content and traded through the blockchain network. The producers of content receive Tronix, which they can in turn pay their fees with or it can be traded for other cryptocurrencies.

Features of TRON

TRON combines the advantages of the Ethereum (ETH) blockchain and the Yuzu (EOS) blockchain:

  1. Fast transaction speed: 3 seconds,
  2. No transfer fees
  3. 10,000 Transactions per second
  4. Mature and easy to use
  5. Protobuf developed by Google
  6. Great Compatibility

Tron Wallet

TRON wallet

With any cryptocurrencies there comes a need for storage of the private codes that are associated with the ownership of the cryptocurrency. A TRON wallet will be that storage location for those private codes that are then used during transactions. There are multiple options out there for this, however one of the most used is Tronlink. It is the first official wallet supported by the TRON Foundation and is currently being promoted by the website of Justin Sun, the inventor of TRON. This TRX wallet is available through Google Chrome and as an app with IOS and Android devices, making it universally accessible.

Features of TronLink

  1. Safe: TronLink does not collect any user data
  2. Three fiat currencies: Euro, US Dollar, British Pound
  3. Supports all TRON-based TRC20 tokens and provides access to the TRON dApp ecosystem
  4. Switching between multiple user accounts
  5. Integrated voting system for Super Representatives (SRs) and the ability to exchange certain rewards for voting on the wallet
  6. dApp browser
  7. Settings for advanced Tron trailers, e.g. selecting a node or adding your own node
  8. Integrated decentralised exchange (DEX)

Tronlink

Tronlink has grown to be the largest used wallet for Tronix. With it’s well rounded features including, multi-signature, DApp chain, DApp discovery channel, cold wallet and friend invite functions, it appears to be a superior TRX wallet. Due to these features, in 2019 the users had grown to over 300,000, with over 13,000 who use Tronlink on an every day basis.

The volume of users on Tronlink and their hot wallets have reached assets up to 3.5 billion Tronix. Tronlink listied 502 DApps in 2019, and exceeding a daily volume of DApp by 200,000,000 TRX. Meaning there are more and more approved links into the blockchain which allows the same standard of security while improving access and speed.

How to Install

1. Chrome Web Store
https://chrome.google.com/webstore/search/TronLink

  1. Search the “TronLink” in Chrome Web Store and add it to Chrome
  2. Click the TronLink Extensions and Click the right top Language Tag to select the language
  3. Set the password and click the “Continue” button
  4. Select to Create a new account if you are a new user and click the button “create”
  5. Copy down all the mnemonic as the tip and confirm them with the same words order at the next screen to finish the account creating.
  6. After creating the account, select to “Export account” on the right top filter coin, click it and back up the private key.

2. Android and iOS: App store
You can download TronLink TRX wallet: https://www.tronlink.org/
You also can download via Google Play directly.

Conclusion

Of all the cryptocurrency, Tronix is on the rise among consumers. The TRON foundation has an active plan for their goals and couples it with access to the blockchain network to encourage the excitement over TRON. Tronlink allows one to get involved in the expansion and maintain their account in safety. Now with the support of Google and its Chrome extension, Tronix is becoming more accessible to consumers. This makes Tronlink a great first step into the world of cryptocurrency, with added benefits and protections for the investment.

Bruce Valdeo