Where can I use my TRX?
Tron is a decentralized blockchain-based platform that aims to build a free, global digital content entertainment system having distributed storage technology. Tron was founded by a Singapore based non-profit organization called Tron Foundation in September 2017.
Tron uses peer-to-peer network technology with which it bridges the gap between content creators and consumers by eliminating the middle man. The result is a cost reduction for the consumer. Tron removes the need of the middlemen by providing a platform to the creators where they can directly share their content with the consumers. All the data is secured cryptographically via blockchain while allowing the creators to make the profit. The privacy of the content is also protected as the content always remains with the creators.
All the transactions made with Tron are recorded in the blockchain ledger. It supports other blockchain networks like Bitcoin, EOS, Ethereum, etc. which are leading cryptocurrencies in the world. This gives Tron an edge over other cryptocurrencies.
The developers from Tron are trying to make this project a success for which they have partnered with oBike and have helped them to launch their cryptocurrency called oCoin. Tron has also partnered with Game.com and Baofeng.
How does the Tron Blockchain work?
Tron uses a three-layered structure, which is divided into a storage layer, core layer, and application layer. The key features of each layer are:
- Storage Layer: Tron has a distributed storage protocol which consists of block and state storage. There is a graph database designed to allow easy updates and fast processing.
- Core Layer: The core layer has several modules, which include smart contracts, consensus, and account management. Java is the smart contract language for the platform, but additional programming languages will also be added in the future. This layer is also considered a virtual machine for smart contracts.
- Application Layer:Developers can create and deploy dapps on this layer and can issue their own tokens.
Can I trade TRX Derivatives?
A TRX futures contract is an agreement to buy or sell TRX at a determined price at a specified time in the future. For example, BitMEX is offering a type of derivative called ‘Perpetual contract’ other than futures contracts, which is similar to a standard futures contract in the way trading happens, but it has no expiration date, and so it allows the investors to hold a position as long as he wants. Perpetual contracts trade enables tracking of the underlying index price quite closely. TRX traders and investors are benefitted by the futures contracts because they can make higher profits or hedge/manage risk.