TRON
About Tron
Tron (TRX) is a decentralized blockchain platform that offers high scalability and availability for decentralized applications (DApps). It has a native cryptocurrency, TRX, which was originally an ERC-20 token on the Ethereum blockchain. Tron aims to create a decentralized internet and its infrastructure, and supports smart contracts with a number of decentralized apps built on top of its network. Its decentralized finance (DeFi) ecosystem has billions in total value locked. The Tron network uses a delegated Proof-of-Stake (dPoS) algorithm, with TRX token holders delegating transaction validation to 27 "super representatives." Tron was created by Justin Sun and launched in 2017, migrating to its own blockchain in 2018. TRX is used to pay for transaction fees on the Tron blockchain, can be staked for earnings, and is used in the Tron DeFi ecosystem for financial services.
- In 2017, Tron raised $60 million in an initial coin offering (ICO). Tokens were initially allocated as follows:
For now, Tron has a supply cap of 100 billion Tronix. But unlike some other cryptocurrencies such as bitcoin, that limit is not set in stone, the Tron Foundation has said.
According to price data provider CoinMarketCap, Tron’s price reached an all-time high of $0.22 in January 2018 amid a crypto-wide bull run. For most of 2018 and 2019, Tron’s price hovered between $0.01 and $0.04. Tron’s price hit a fresh peak of $0.16 in April 2021, rising with the rest of the market as bitcoin broke $64,000 for the first time.