What is TRON
TRON is a crypto project developing in the entertainment content niche since 2017. At the same time, it is haunted by the glory of Ethereum and positions itself as its competitor.
The idea of the platform is that creators and distributors of interesting content can communicate directly with users within a single blockchain-based ecosystem and distribute their files with its help. Moreover, no other platform, like Google Play or the AppStore, was deliberately involved for these purposes. It is an entirely standalone project by a developer named Justin Sun.
Having in their arsenal only a landing page about the project and even non-original documentation, the Tron team managed to hold one of the largest ICOs in crypto history: they raised $70 million. Justin was lucky because soon after, China completely banned cryptocurrencies.
In 2018, the team wanted more independence, and therefore the project was transferred from the peer-to-peer Ethereum blockchain to its platform with the Delegated Proof-of-Stake algorithm. A little later, they acquired BitTorrent, a well-known file storage system.
In addition to the platform, the TRON cryptocurrency, included in the TOP-30 altcoins, is also popular. By August 2021, its capitalisation has increased to $8.8 billion, and daily trading volumes reach $1.2 billion.
In total, 100 billion coins have been issued, and so far, there are 71 billion in circulation. There is still room for growth, but TRX mining will not work. However, as Justin Sun recently said, with the due popularity of the project, he may reconsider his decision and allow production.