Cex.io is announcing the listing of two Tron-based cryptocurrencies. One is, of course, Tron’s Tronix (TRX) and also BitTorrent Token (BTT). Both coins have the common objective of achieving web decentralization. The announcement means that the following trading pairs will be available for trade at Cex.io: TRX/USD, TRX/EUR, TRX/BTC, BTT/USD, BTT/EUR, BTT/BTC
Tron: The project, protocol, technology, and primary features
Tron is very well known in the blockchain world. It’s an open-source protocol that went online during 2017. It’s a third-generation blockchain network. That means the blockchain is not all about a cryptocurrency (as it is with Bitcoin, for instance) but about a programmable platform that can support the development and deployment of decentralized applications and smart contracts.
Tron aims to decentralize the world wide web using its own blockchain network backed by its native digital asset, Tronix (TRX). It’s already the most effective dApp platform in the world as it hosts an increasing quantity of scalable dApps.
Tron’s transaction speed is remarkable. It can deal with 2.000 transactions every second, which makes it one of the quickest blockchains in the industry.
Tron’s scalability allows for the support of a massive number of users. It also enables developers to bring their projects into the network and take advantage of the large (and bullish) user base the network enjoys.
The network works at meager costs for both users and developers. That feature allows for new users to join more efficiently, which is one of the reasons why Tron’s user base has increased rather quickly.
The Tron network creates new blocks using an improved consensus protocol based on Delegated Proof of Stake (DPoS). Tronix holders can accumulate their coins, and that gives them the right to vote for the nodes in the network that produce new blocks (they are known as Super Representatives). The votes are counted every six hours, and the new Super Representatives are elected consequently.
Tronix (TRX): Tron’s native currency
Tron started as a project running on the Ethereum network. As such, the project’s currency (TRX) came to life as an ERC20 token. Then Tron became independent one year ago. The blockchain and the token are now fully autonomous and independent from Ethereum and Tron has achieved the tenth spot by market capitalization.
Several cryptocurrencies are in use in the Tron network, but the main one is Tronix (TRX). It’s the fuel that powers the whole environment, and it’s the coin that supports all the other tokens in the network (Tether, BitTorrentToken, Tron Weekly, and many others). It also empowers holders to vote for Super Representatives (new block producers) and profiting in some way from their votes.
BitTorrent and the BitTorrent Token
BitTorrent is the largest decentralized network in the world. It’s a P2P file sharing system used by more than 100 million users scattered all over the planet. Tron now owns the BitTorrent network, and it created the BTT currency so that it can fuel the BitTorrent system as it joins the Tron blockchain.
The BTT token has already grown significantly. Despite being a derivative cryptocurrency it’s ranked 37th by market capitalization, and it’s been around for only a few months. BTT is meant to be a lubricant to exchange computing and bandwidth resources shared by users in the BitTorrent network. It’s an incentive for users to keep their content online and available for other users to share and download.
Since yesterday, Tron’s Tronix and BitTorrent Token are available at CEX.IO for users to trade and exchange.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.