Living a digital lifestyle, we rely on technology and smart gadgets for all our daily needs. Whether you want to work, buy groceries, or chat with your friend across the globe, the internet and digital devices have your back. When discussing technology, we often hear terms like blockchain and crypto thrown in for good measure.
This article will focus on one such term, Tron Network, and share everything you need to know about this blockchain-backed decentralized technology and its cryptocurrency. In addition, we will share details about its Tron Tokens and whether this platform is safe for use or not. Let’s start with understanding what the Tron network stands for in simple terms.
What is Tron Network (TRC20)?
In layman’s terms, Tron Network is a decentralized platform backed by blockchain technology created to revolutionize the entertainment system. Developed by a non-profit organization from Singapore, the Tron Foundation, this technology hopes to enable a better platform for digital creators and their content consumers.
This global platform has amassed over 90 million users since September 2017. The network has its cryptocurrency, Tronix, used for all the transactions between the content creators and their consumers on Tron. This decentralized platform aims to eliminate the corporate middleman and allow digital creators to find a simplified medium to connect with their viewers.
Above, we have mentioned the terms decentralized apps and platforms a few times. So let’s understand what they mean to understand Tron Network and how it works better. Below is a quick overview of decentralized applications.
Quick Information about Decentralized Applications
Decentralized applications or dApps are online apps that run using a blockchain network of devices. The lack of a single authority gives them their name, making them free from the control of individual management. These apps and online platforms are known for protecting user privacy, and these applications find usage across several genres like gaming, finance, entertainment, and social media.
The decentralized applications run on blockchain in an open and public environment, making them free from the control or interference of any single authority. It promotes free speech by removing censorship while protecting user privacy. Peepeth, a decentralized alternative to Twitter, Uniswap, 1 Inch, Upland, OpenSea, and MakerDAO, are some examples of popular decentralized platforms.
We hope that you have gained a better understanding of both Tron Network and decentralized platforms. Then, it’s time to discuss the different cryptocurrencies available on Tron Network, including, Tronix, signified by TRX. Below we will discuss the various coins or tokens available on the platform.
Leading Coins Available in Tron Network
Here are the top coins or tokens you can send or receive using the Tron Network. The Tron network has more than 4000 tokens compatible with it. However, today we present the Top-10 cryptocurrencies supported by the TRC20 network according to the market capitalization reflected by Coinlore: Ethereum ($215,770,791,417), USD Coin ($54,289,114,832), HEX ($9,224,821,346), Shiba Inu ($6,712,368,742), Uniswap ($6,571,231,199), Wrapped Bitcoin ($5,628,578,798), Unus Sed Leo ($4,581,245,408), YOUcash ($4,405,860,157), FTX Token ($4,220,060,795) and Chainlink ($4,066,100,616). It should be noted that all of these can be stored in the Guarda TRC20 wallet.
Tron Network also supports APENFT MARKETPLACE. Online creators can create, sell, and trade their NFT through Tron Network, backed by TRC-20 protocols.
Features of Tron Network (TRC20)
Here are the top features of Tron Network that make it one of the most reliable decentralized platforms available online. These features will help you understand why you should start using this platform to use entertainment applications.
Tron Network offers high transaction speed
The high transaction speed of Tron Network makes it a favorite among users. Whether you exchange your digital currency or watch online content, the high speed gives Tron an edge over other platforms.
Focus on decentralizing the web and creators
Tron Network focuses on decentralizing the web. It strives to empower online content creators by offering them a better medium to connect with their audience. It makes Tron stand out from other blockchain networks.
A clear development plan for the platform
Tron Network has a clear and well-defined path for blockchain technology. Moreover, their straightforward approach differentiates them from their competitors, giving them an edge in capturing consumer trust and confidence.
Lack of transaction fee for Tron Network
Tron Network doesn’t charge the digital creators on the platform any transaction fee. This lack of charge makes them an ideal candidate for small and new digital creators, empowering them to grow their presence without any monetary expense.
Improved scope for developers to make money
The network allows developers to develop new decentralized apps in their preferred programming language. Tron Network supports Java, C++, Scala, Python, and Go, allowing them to create new apps and become online influencers.
Now that we have shared everything you should know about Tron Network and Tronix, you might wonder if it’s safe to buy these tokens. Let’s learn the answer to this question below.
Is Tron Network (TRC20) Safe and Trustable?
Tron is similar to other blockchain networks and cryptocurrencies available online in most aspects. However, the high success of this platform is the ultra-safe Tron blockchain that makes the security of your data a high priority. The mechanism used by the Tron Network makes it almost impossible for hackers to steal your precious data.
However, when dealing with any cryptocurrency, we advise you to do your due diligence and take measures to protect your online currency. Tron borrows its network from the Ethereum blockchain code, originating the need to be careful in your digital transactions. Thankfully, several online organizations can educate you on protecting your digital assets and staying protected against scammers.
We hope this article educated you about Tron Network (TRC20) and shared everything you should know about this blockchain decentralized platform. We have shared everything from what this decentralized network stands for to the top cryptocurrency tokens available on this platform. As a result, you can now use this innovative network striving to promote cost-effective digital content sharing by eliminating corporate intermediaries.
This article also answered if Tron Network (TRC20) and Tron tokens are safe to buy. We hope this article addresses your questions about Tron Network and encourages you to use this blockchain-backed technology. Use Tron to help create a decentralized entertainment system that allows content creators to connect with their consumers directly.