What is TRON (TRX) ?

So, another day, another breakdown. This day it's time for TRON (TRX). Tron is a lot in the news the last couple of weeks, so I think it's time to get to know TRON a bit better! Let's dive in right away! 

What is TRON (TRX) ? 

TRON (TRX) is an open-source blockchain platform that can run smart contracts and be used for building decentralized apps (dApps). It's similar in functionality to Ethereum (ETH), and it even started out as a token built on Ethereum until switching to its own blockchain. Since launching, TRON has built a large ecosystem of dApps and other projects. However, it's also controversial, with critics claiming it copied code and that the TRON CEO has made money through pump-and-dump cryptocurrency scams. Keep reading for our full guide to TRON and the native cryptocurrency it offers, Tronix.

What makes TRON (TRX) unique? 

TRON has a broad range of goals that all come back to its central objective of decentralizing the web. One of TRON's primary focuses from the beginning has been to change the entertainment industry. It wants to use blockchains for a content-sharing system and get rid of the middleman. Content creators would be able to directly connect with consumers and sell their products. As a step toward building this network, the TRON Foundation bought peer-to-peer file sharing company BitTorrent in 2018. TRON has since launched BitTorrent Token (BTT), which is designed to expand its protocol and incentivize its use. The TRON team also wants it to be the most flexible blockchain platform that can run smart contracts. For that reason, the TRON Virtual Machine (TVM), where developers can build dApps on TRON, is compatible with the Ethereum Virtual Machine (EVM). There are plans to add compatibility with other virtual machines in the future. TRON is also making inroads into the decentralized finance (DeFi) landscape with the JUST Network, a TRON offshoot that includes a package of smart contract-based financial projects.

TRON's stablecoin, want to be like LUNA 

Creator Justin Sun announced today that Tron DAO—the "restructured" Tron Foundation that "allows users to participate in governance and decision-making" about the network—will begin issuing the USDD stablecoin starting May 5. (The extra “D” stands for decentralized.) In a separate announcement, Tron DAO said it "will raise $10 billion in reserves from prominent blockchain industry players" over the next six to 12 months. The goal is to provide liquidity in case of emergency to stablecoins issued on Tron—including both USDD and Tether—thereby keeping their value stable even during cases of financial crisis.