About TRON (TRX)

Overview

Tron (TRX) is a decentralised, open-source platform that is operated by the Tron Foundation. Tron acts as a smart contract to allow content creators to be compensated for sharing their content. The Tron foundation intends to create a distributed storage facility that allows its users to access entertainment content from every part of the globe, without seeking assistance from third parties such as GooglePlay Store or Apple Store. As a result, the content producers will be able to receive funds quickly and directly from the consumers without an intermediary taking a cut.

Technology

The Tron network operates using the TRONIX token (TRX), the most basic unit of payment on Tron's blockchain. TRON's architecture has three platforms: a social media platform or, application layer; a blockchain platform consisting of a multilingual smart contract layer and a Fast Paxos-based Proof of Stake (PoS) consensus algorithm; and a peer-to-peer P2P distributed storage system made up of a content addressable storage network and a LevelDB/CouchDB data layer.

Future Focus

The developers intend TRON to act as web 4.0. The ecosystem that the foundation envisions to build is estimated to take 8-10 years to complete but, the Testnet and MainNet launch are now complete. Old Tron ERC20 tokens have now been swapped out for native Tron tokens on the mainnet. Also, Tron released a new TronWatch wallet, which is available on desktop, Android and iOS devices. To download the Tron wallet visit their website. Looking forward, the team hopes to introduce economic incentives for content creators, look into dividend management, income payment and managing supporters. Moreover, Tron looks to launch a personalised token for decentralised trading by the end of 2023. For more information regarding Tron visit the official webpage.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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