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Tron is a public blockchain network that aims to become the core infrastructure for a decentralized internet. The main focus of Tron is to be suitable for daily use. Thus, it has been built to enable fast, easy, and low-cost transactions. Tron uses a Delegated Proof of Stake (DPoS) consensus mechanism to maintain the network’s security and provide high transaction throughput and low fees.

Tronix or TRX is the native cryptocurrency of the Tron blockchain. The smallest fraction of TRX is known as SUN, named after Tron’s creator, Justin Sun. TRX is used to pay for gas fees on the network and can be staked by token holders to participate in the DPoS consensus process. Additionally, miners can earn TRX by providing data storage space to Tron’s users.

As a blockchain network, Tron allows the development of smart contracts and decentralized applications. Anyone can access the Tron blockchain as it is permissionless and thus allows everyone to publish, own, and store data on it.

The following are some of Tron’s most important features:

• A three-layer architecture consists of a core layer, a storage layer, and an application layer.
• Delegated Proof-of-Stake (DPoS) consensus algorithm enables Tron to offer greater scalability than many other blockchains.
• A network of 27 Super Representatives generate and validate blocks on the Tron blockchain.
• Tron Virtual Machine (TVM) enables smart contracts to be written in Solidity. 

Tron operates on an account-based architecture. This allows the protocols’ cryptographic keys to control access to the TRX token balances. The Tron blockchain then routes the exchange of this data via three layers:

• Core Layer — Computes Java or Solidity instructions and transmits them to the Tron Virtual Machine, which performs the logic.
• Application Layer — Developers use this layer to construct wallets and applications that are interoperable with the software and powered by the TRX token.
• Storage Layer — This layer has been created to separate blockchain data, that is to say, the history of the Tron blockchain from the state data, which reflects the status of smart contracts running on the Tron blockchain.

Tron was launched by Justin Sun in early 2017. Justin Sun is a two-time recipient of Forbes’ Asia “30-Under-30” award. He served as the CEO of Tron until 2021.

In September 2017, a token sale was held for Tronix (TRX) tokens. Private investors received 15.75 billion TRX, while 40 billion tokens were reserved for Initial Coin Offering (ICO) participants. The Tron Foundation received 34 billion dollars, while Justin Sun’s firm received 10 billion dollars.

In 2018, Tron gained mainstream attention as a result of the acquisition of peer-to-peer networking pioneer BitTorrent by the Tron Foundation, the non-profit responsible for Tron’s development. The acquisition demonstrated Tron’s goal of becoming a decentralized platform for content sharing and entertainment. This acquisition was followed by the introduction of a BitTorrent token on the Tron network in 2019, allowing Tron to promote a new cryptocurrency to millions of existing Tron users.

In 2021, Justin Sun, the founder and CEO of Tron, declared that the Tron Foundation would be disbanded and that Tron would be maintained by the community, while he would continue to serve as ambassador.

Tron uses the Delegated Proof of Stake (DPoS) consensus mechanism to maintain the network’s security. This consensus mechanism consists of 27 Super Representatives whom the network’s users choose to validate transactions and maintain the history of the blockchain.

TRX token holders can stake their tokens and get Tron Power. This enables them to vote and select super representatives who will be able to serve as block producers. These block producers verify all the transactions on the blockchain and receive TRX rewards as an incentive. Moreover, the TRX token holders who delegated to these super representatives also receive a part of these rewards.

Online theft and fraud are often conducted not by attacking the blockchain network but by targeting users’ online/hot wallets to expose their private keys. Such malicious actors trick users into revealing their private keys or attack their system with malware.

Hardware/cold wallets overcome this vulnerability by storing private keys in physical storage devices cut off from the web and, therefore, out of the reach of malicious actors.

The new and advanced hardware/cold wallets offer a wide range of services and a one-stop solution for the security, storage, and management of tokens like Tron (TRX). A hardware wallet can overcome the vulnerability and tackle security concerns of centralized exchange (CEX) and hot wallets. 

A Ledger hardware wallet saves your private keys offline and thus makes your crypto assets inaccessible for anyone except you in the event of a computer hack. 

The Ledger Live app gives the option to manage 1800+ coins and tokens from a smartphone or desktop, making the system extremely convenient. The provision to use a PayPal account or Debit/Credit Card to purchase Tron (TRX) offered by Ledger is also extremely useful for new users. Follow the simple steps below to purchase TRX on a Ledger wallet: 

1. Get a Ledger Hardware Wallet.
2. Download and set up ledger Live on a web or mobile device.
3. Create a designated Tron account after setting up Ledger Live.
4. Install the Tron (TRX) application from the app catalog.
5. Start buying TRX using Ledger Live.