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Blockchain Brief: Tron (TRX)

This month we listed Tron (TRX) on the Blockchain.com Wallet and Exchange.

In case you’re not familiar with TRON, this article outlines what exactly is TRON, some of its use cases and why it’s gaining so much attention.

What is TRX?

  • ​​Tron is an open-source blockchain network that supports smart contracts, dApps, and a token ecosystem called TRC-20.
  • The network’s native token is called Tronix (TRX).
  • TRX is the basic unit of account on the Tron blockchain just as ETH is on Ethereum.

Use cases of TRX

  • Payments. TRX has integrated with both credit cards and ATMs to enable spending.
  • Token issuance. Tokens built on the Tron blockchain (TRC-20 tokens) can be purchased with TRX.
  • Voting. Holders of TRX can freeze it within the Tron ecosystem in exchange for governance and voting rights.

Why TRX is getting attention

  • ETH alternative. TRX is an alternative to Ethereum thanks to low and no-fee outbound transactions.
  • Stablecoin. USDD, a newly-launched algorithmic stablecoin issued by the TRON DAO, traded under its dollar peg in June but has since held steadily at ~$1.00.
  • Adoption. TRON has gained incredible traction in recent years, with over 116 million users on the blockchain and upwards of 4 billion transactions and more than $13.2 billion in total value locked (TVL) according to TRONSCAN.Want to learn more about TRX?

Listen to TRON Founder Justin Sun and Blockchain.com Co-Founder and CEO on the Blockchain.com Podcast.

Interested in TRX?

You can now buy, sell, swap, and earn up to 8% in rewards (for eligible users) on TRX in the Blockchain.com Wallet.

Get started today.

About TRON

Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021.

The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. In May 2022, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry — TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.

Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time a major public blockchain partnering with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens — TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.

Read the Tron whitepaper here.

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