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What is Tron (TRX)?
To fully understand what Tron (TRX) is, we need to start from the basics. Tron is a decentralized entertainment and content sharing platform that uses blockchain and peer-to-peer (P2P) technology. This can be imagined as the next generation social network in which you can create and share content with anyone and anywhere in the world. Tron is the currency in the Tron blockchain. This is the currency you get for your content.
People who like social networking, online gambling, and other forms of online entertainment will appreciate Tron.
Using the Tron cryptocurrency ecosystem, you can not only share content with other people, but also receive rewards as a content creator. This model is the exact opposite of how traditional social media companies, such as Facebook, monetize user data. They often do this without the knowledge of the user, benefiting for themselves. When you use Tron cryptocurrency, you control your data and get paid for your content.
How can I use TRON?
The biggest benefit of using Tron is that you enable artists and content creators around the world to own the content they create.
Tron leads the movement, which some call the third network. Although it sounds futuristic, a third network, or network 3.0, will allow people to use the Internet as it was originally intended - as a decentralized, open network.
The social media giants in Silicon Valley have built a sophisticated infrastructure so that tech giants can earn money from user data. Cambridge Analytica is the foundation of this system. However, Tron intends to return power to users so that they can control their own data.
How do transactions work?
Like many other digital currencies, transactions with TRX occur in public. The transaction model that TRX uses is similar to the transaction model that bitcoin uses. The only difference is that Tron improved the Bitcoin model, providing additional security. The model that TRX uses is called UTXO.
The UTXO model has a basic conclusion, which is the amount of money sent to the TRX user address, along with a set of rules that unlock this specific set amount. The end product is an outlet called UTXO.