2021-12-1 02:24 |
Tron (TRX) is faced directly with eliminating middlemen for content creators and entertainers.
TRX claims to be able to handle 2000 transactions per second.
About 70% of the total supply of Tron is already in circulation.
Tron (TRX) is focused on sharing content and entertainment. A considerable milestone covered by the team was the purchase of BitTorrent – a service focused on file-sharing in 2018. Tron was established in 2017 by 1990 born Justin Sun of China.
Tron is ranked in 32nd place on CoinMarketCap. It has an all-time high (ATH) of $0.231673 which it hit on the 5th of January 2018. Its all-time low was at $0.001804 on the 12th of November, 2017. Currently, the price ranges between $0.09374 and $0.09725. It has a daily trading volume of over $2 billion.
TRX / TetherUS daily candlestick chart (source: TradingView)
Tron has a total supply of a little above 100 billion, of which only about 71 billion is in circulation, giving it a market cap of about $7 billion.
Tron was established as a means of exchange between a community of content creators but removed the need for middlemen. Customers pay content creators directly using TRX on their platform.
TRX is said to have a lot of talented engineers on their team. Justin Sun pulled some of them out of Ripple Labs. Ethereum can handle a maximum of 20 transactions per second. Bitcoin can handle 6. Tron claims to have the capacity to handle 2000 transactions in one second.
The Tron network uses a delegated proof-of-stake to avoid double spending of the coin. It is similar to the proof-of-stake in Bitcoin, but Tron users vote for super representatives who then help validate transactions.
SummaryAbout 70% of the total supply is in circulation, making the TRX network worth about $7 billion. The primary targets of TRX are online creators.
The post A Fundamental Analysis of Tron (TRX) appeared first on Coin Journal.
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