The network has its own native token, TRX, which can be used to pay transaction fees on the blockchain.
Let's explore in detail what Tron's blockchain is all about.
What is Tron (TRX)?
Launched in 2018 under the leadership of Justin Sun, Tron is a blockchain-based, decentralised platform that is run on a delegated proof of stake consensus.
Dubbed an evolution of the proof of stake consensus, the delegated proof of stake (DPoS) consensus mechanism allows validators to vote on which nodes should be permitted to process transactions on the blockchain.
According to the official website, there are 27 "super validators" or representatives that run the Tron blockchain and help process transactions to acquire TRX rewards.
The selection of these validators is done via a simple voting process. In order to become a Tron validator, or "super representative," a person must acquire more than 100 million votes.
The blockchain hosts a variety of decentralised entertainment applications and intends to become a global hub that revolutionises the way consumers interact with the entertainment sector and apps.
Since Tron is a decentralised platform with smart contract capability, it allows developers and users to build dApps, projects, and ventures that can contribute to the overall prosperity of the Tron ecosystem.
Tron's native TRX token serves a variety of different purposes. The token can be used to pay transaction fees on the network and can also be staked to acquire TRX rewards.
The token is also extensively used as a governance token, which authorises users to participate in and vote on critical proposals and ideas introduced for the betterment of the Tron ecosystem as a whole.
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