As no stranger to the world of decentralized finance, we are incredibly excited to have the digital platform Tron on board for BiShares’ biMex Fund. This platform has been around since 2017, making it a veteran for the DeFi ecosystem and a very strong player within the fund.
In 2017, the Tron Foundation, a nonprofit organization based in Singapore, created the Tron platform as well its native token with the same name and whose ticker is TRX. It’s purpose? To host a worldwide entertainment system where digital content can be shared in a cost effective and efficient way. Through peer-to-peer and blockchain-based technology, Tron has eliminated the middleman, giving artists and creators the opportunity to sell work directly to consumers. Since its launch, Tron has grown tremendously, including expanding its headquarters to the Americas.
Currently, Tron is one of the most popular blockchains in the world. As of August of 2021, the platform had more than 50 million accounts. It has dedicated itself to building the infrastructure for a truly decentralized internet. Its structure has been compared to the renowned Ethereum blockchain, using some of the same components and building blocks such as decentralized applications, smart contracts and tokens. Tron came about as a way to have the success and opportunity provided by Ethereum, but without the high transaction rates and low transaction throughput times.
Tron’s BitTorrent Chain is the platform’s “first scalable heterogeneous cross-chain interoperability protocol” and provides a high-performance, highly scalable, low-cost solution for blockchain platforms. The development of Tron’s sidechain DAppChain has furthered the platform’s ability to keep costs and energy consumption low while providing unlimited capacity for the main network.
Justin Sun, founder and now CEO of Tron, is a huge success in the crypto world. In addition to founding one of the world’s most sought-after blockchains, Sun is responsible for founding Peiwo App, one of China’s largest voice streaming apps. He is also the CEO of BitTorrent. In 2017, Sun was honored by being selected as one of Forbes’ Asia “30 under 30.” He also received the same award from Forbes’ China from 2015–2017. Sun also made history as the only millennial to graduate from Hupan University! His success in the field is incredibly notable and Tron only continues to further that notion.
The TRX token ranks 31st among cryptocurrencies in market capitalization. It is currently listed at $0.09 with a 24-hour trading volume of $1,303,018,552. With a total supply of 100,850,743,812 tokens, there are currently 71,660,220,128 in circulation. TRX has a market cap of $6,346,909,768. TRX hit its ATH on January 8, 2018 reaching $0.23.
“TRON is a scalable blockchain solution that has employed innovative methods for tackling challenges faced by legacy blockchain networks. Having reached over 2M transactions per day, with over 700K TRX accounts, and surpassing 2000 TPS, TRON has enabled the community in creating a decentralized and democratized network.”
We see Tron as a legacy platform, with Sun as its visionary. Tron has already made a huge impact on the community and we know they are far from done!