Tron was launched in 2017, right in the middle of a crypto bull run, to provide digital content creators with the platform to gain full ownership rights by eliminating the intermediary of media tech giants. It did this by encouraging more rewards to be given to creators by allowing consumers to reward them directly.
Initially launched as an ERC-20 token on the Ethereum blockchain, the TRX token now operates in its native blockchain network. TRX is widely used for payment across the Tron platform, non-fungible tokens (NFTs), and a governance token for voting rights. In addition, TRX token holders can also participate in staking to earn passive income while contributing to the network's security.
The Tron network utilises a Delegated Proof-of-Stake (DPoS) consensus mechanism, which combines aspects of both Proof-of-Stake and governance. This system empowers TRX token holders to vote for their preferred Super Representatives, responsible for validating transactions and securing the network. As a result, Tron boasts high throughput and scalability, handling up to 2,000 transactions per second at a low cost.
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