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How to buy Tron coin

You can buy the Tron coin by creating an account on a crypto exchange like Binance and Coinbase or using a crypto broker like eToro. There are several other ways to buy the Tron coin, including using a P2P platform like LocalBitcoins or Paxful or using a Bitcoin Automated Teller Machine (ATM).

What is Tron?

Tron is a decentralized crypto protocol that is on a mission to revolutionise the content distribution industry. Tron’s core mission is to decentralise the web by allowing content creators to directly interact with their users without the interference of a middleman. The Tron network also enables the development of decentralized applications (dApps) and other blockchain-based utilities like online video games and interactive 3D scenes in a low-cost and fast protocol. The network uses a delegated Proof-of-Stake (dPoS) consensus mechanism, allowing elected validators to verify transactions.

When did Tron come out?

Tron was founded in 2017 by a Singapore non-government organisation called the Tron Foundation. This was through the efforts of Justin Sun, a pro-blockchain enthusiast who previously served in the capacity of Ripple Labs’ chief representative in the Greater China region.

How does Tron work?

Tron offers the same functionalities as the popular dApp facilitator Ethereum. Development teams can build DeFi-facing protocols and launch NFT projects on Tron. To build on Tron, teams need to have the required amount of bandwidth, CPU, storage, and RAM. They also need to lock their Tron token, otherwise known as TRX, to get the necessary bandwidth and energy to validate transactions on the network. Likewise, the locked TRX serves as collateral and can be slashed if a validator turns out to be a bad actor. When transactions are done, the bandwidth is consumed, while the smart contracts consume the energy resource. Eventually, both bandwidth and energy are recovered after 24 hours.

How can Tron be used?

Tron is used to build blockchain-based applications called dApps. These decentralized apps are used in creating DeFi services that aim to usurp the centralized banking system. Tron can be used to launch NFT-facing protocols, and it seeks to radically give content creators more say in how their works are valued.

How do Tron transactions work?

Tron transactions are calculated according to bandwidth and energy, and each user is allowed up to 15 transactions without any accompanying fees. The bandwidth and energy utilised in validating transactions are not lost as the energy is recorded as zero for non-smart contract transactions. However, smart contract transactions incur a fee, which is calculated commensurate to the size of the transaction. Nevertheless, Tron is a low-cost blockchain network, as it only levies a fraction of what the Ethereum network charges on users.
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