What Is TRON?
TRON (TRX) was founded in 2017 by Justin Sun through a Singapore-based non-profit called the Tron Foundation. The Tron Foundation’s 2017 initial coin offering (ICO) created 100 billion TRX and raised a total of $70 million.
The TRON Protocol represents the architecture of an operating system based on blockchain technology which could enable developers to create smart contracts and decentralized applications (DApps), freely publish, own and store data and other content. According to the TRON Foundation, the ecosystem surrounding this network specializes in offering massive scalability and consistent reliability capable of processing transactions at a high rate via high-throughput computing. TRON was initially created as a token based on Ethereum, but migrated to its own network in 2018. Holders of ERC20 TRX tokens traded them for the TRX digital currency on the TRON network, and the Ethereum-based tokens were then destroyed.
TRON founder Justin Sun is known for being active on social media. He is also the CEO of BitTorrent, and acquired Steem in 2020.
Quoted data: coinmarketcap.com