What is TRON (TRX)?
TRX is the native token of TRON, a blockchain founded by Justin Sun. It first circulated as an Ethereum-based token in 2017 before TRON launched its own mainnet in 2018.
- Type
- Layer-1 blockchain
- Launched
- 2017
- Consensus
- Delegated Proof of Stake
- Max supply
- No fixed cap
- Swap network
- TRON
- Sector (Messari)
- Smart Contract Platform
How TRON works
TRON uses Delegated Proof of Stake: TRX holders vote for 27 Super Representatives who take turns producing blocks roughly every three seconds. Instead of paying a flat gas fee on every action, users can stake TRX to obtain bandwidth and energy, the resources that transactions and smart contracts consume.
What TRX is used for
TRX pays for network resources, either by staking or by burning it when resources run out, and it is used to vote for Super Representatives. The network is heavily used for stablecoin transfers, especially USDT, because of its low cost.
TRX supply
TRX has no fixed maximum supply. New tokens are issued as block and voting rewards, while TRX spent on resources is burned, so the net supply can shrink or grow over time.
Before you swap TRX
TRON addresses start with a T, and sending a TRC-20 token such as USDT requires some TRX or staked energy to cover fees. Make sure the receiving address is on TRON and not another chain.