Fewer people know about Tron, Ripple, Litecoin and other virtual assets as yet. Bitcoin is the primary word still associated with the crypto space for most curious folks about cryptocurrency most of the times. However, over the past few years, blockchain has started to gain distinction from bitcoin with a lot of promises that the technology is poised to fulfill.
Yes, blockchain technology has promised heaven, which we’re slowly realizing. But there’s a concern.
How familiar are you with blockchain technology? Or simply how sophisticated is the technology? One thing for sure, blockchain technology is indeed complicated. But wait, the internet is as well complicated, right? But now how far can you go using it?
Different people may have a different understanding of the technology, but the most important thing is to understand the technology vividly to feeling confident in the crypto ecosystem.
Therefore, to help understand what the technology entails and how it works, let’s take Tron as a base.
MainNets and TestNets
To start with, each crypto or rather any blockchain project has to operate on a Testnet and a Mainnet. Using Tron is indeed easy (perhaps to some it can be difficult, especially a beginner), thanks to the Mainnet where all transactions are recorded as they occur.
A testnet is the sandbox blockchain where developers submit test code as well as explore possibilities of new projects. Tron incorporates the testnet feature.
In the Mainnet is where every hash, timestamp as well as the wallet is stored. Literally, a MainNet is any project’s blockchain network and available to the public.
Possibly the Next Big Step – TronLink
Just like your wallet for fiat, TronLink is a secure Tron wallet where you can store the tokens. Accessing your tokens is pretty easy by the use of a private key. It is merely a Google Chrome extension that you install in a few seconds.
How About Explorer?
Talking about cryptocurrency, anonymity tops the list. Also, cryptocurrency is auditable. You can see all the wallet addresses of other people, transactions, and token balance. Besides, you can access blockchain explorer like TronScan and have a look at all the transactions on the network.
Therefore, cryptocurrencies are decentralized, and every transaction is verifiable and immutable.
Essentially, explorers help in tracking all transactions, check balances, see mined blocks as well as provide a plethora of valuable data.
All Going Well Thus Far, right?
Thus far, there’s nothing complicated, right? You’ve already played with some TRX and hopefully getting some understanding of blockchain without getting deep into layers of abstraction.
Furthermore, Tron has a freezing mechanism to obtain Power, Bandwidth, and Energy used for various functions on the technology. If you have some curiosity on balance, you can calculate it in USD or SUN using a unit calculator.
Cryptocurrencies are mainly a payment option without third-parties – you control your money. Sending any amount of funds any time anywhere has been made easy and quick.
Many say that cryptos will at some point displace fiat currency. Perhaps, only the time will tell, but now that you have an insight, do you think banks are necessary? In some countries like Australia, cryptos are being accepted as a payment option. One thing is for sure, crypto is here and going nowhere.
That was a brief overview of Tron blockchain as we wanted to keep it simple and while using it as the core thing to make you understand the blockchain tech better. But if you wish to know about blockchain technology in more details, detailed Tron guide will give you the idea about the broader picture of it.
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.