Possibly one of the best-performing altcoins over the last few years, this top 10 cryptocurrency has not stopped surging since it first incepted.
So, we thought we’d take you into the TRON trenches to discover the true potential behind this enormous Layer 1!
What is TRON?
TRON was first introduced in 2017 as an Ethereum Layer 2 network but in 2018 it transitioned into its own EVM-compatible Layer 1 blockchain that runs on the DPoS consensus mechanism and, is now known as one of the most popular in the world.
The question is, what makes it stand out?
How Does TRON Work?
Originally, TRON was designed to become a network dedicated to entertainment and digital content sharing but swiftly moved to an all-inclusive ecosystem focusing on dApps of all areas, including finance, gaming, entertainment, RWAs and much more.
What makes it stand out in comparison to other leading Layer 1s is the ability to conduct free transactions on the network. With TRON, users get 5,000 free daily bandwidth points or can buy or stake the native $TRX token to acquire more points.
These points can be used as a supplement for the transaction fee, and when a user is out of bandwidth points, only then will they be charged with $TRX tokens! This eliminates the need to pay $TRX tokens for every action completed on TRON, providing a strong incentive for users and developers to use the network!
TRON Statistics
Revealing its true power, TRON is capable of facilitating up to 2K transactions per second with costs averaging up to as much as $0.000005, practically almost free and making it one of the most sustainable, cheapest and fastest networks in existence.
Statistically, TRON is one of the most used networks in existence, with over 300.67M accounts, 10.12B transactions conducted, over $17.78B transfer volume facilitated and a massive TVL of over $20.33B. On average, over 2.9M users are actively exploring the TRON ecosystem; just wow.
TRON Ecosystem
Showcasing its exponential ecosystem, the TRON network has around 49 dApps ranging from DeFi to GameFi to your every decentralized need. Whether you’re looking to play and earn on games such as Cukies World or if you’re looking to earn yield on the hottest DeFi protocols such as JUST, TRON has it all.
Tronix Token ($TRX)
Driving the entire ecosystem is $TRX, the native token with multiple utilities. Primarily, $TRX is used to pay for transaction fees, pay for bandwidth and storage and stake to earn rewards and vote in governance proposals. However, $TRX can also be earned by digital content creators sharing with their audiences, providing a unique incentive for creators.
Conclusion
According to CoinMarketCap, at the time of writing, $TRX is priced at $0.2558 with a large market cap of $24.29B, ranking it the 8th largest cryptocurrency. In December 2024, $TRX achieved an ATH of $0.44 but has since then declined and is now trying to work its way back up.
In the last twelve months, $TRX has climbed 130.77% while the rest of the market has been on the decline, and since its inception in 2017, the $TRX token has risen over 12,370%. It’s just a waiting game to see how TRON competes with other Layer 1s amid the coming bull market…
Official TRON Links
Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
