Advanced technologies allow more and more cryptocurrencies to be used for everyday payments and TRON is not an exception. How and where to use TRON? What businesses accept TRON for payments? So, let’s discuss it.
What is TRON used for?
Regarded as one of the top cryptocurrencies for payment, TRON was launched in 2018 as a worldwide free decentralized blockchain-based content entertainment ecosystem to “decentralize the internet” and support decentralized applications. The Tronix (TRX) is the cryptocurrency coin of the TRON blockchain with a market capitalization of more than $2,460,200,000, and can be used as an investment, as a store of value, or to trade for other currencies. However, the token’s main use is the interaction with dApps.
A few media leaders such as YouTube, Facebook, and Apple not only do control what media is viewed and put out on their sites, but they also receive the majority of the money generated by the media. Creators, however, receive a smaller part of the income. The TRON platform was initially designed to help reward content creators more for their efforts. Using the features of peer-to-peer (P2P) networks and the blockchain, TRON attempts to bridge the gap between content creators and content consumers without intermediaries. The result is the cost reduction for the consumer and raised collection through direct receipts for the content producer.
Key features of TRON
- The most significant benefit of using TRON crypto is that content creators all over the world have ownership of the content they create. The protocol allows each user to freely publish, own and store data. In simple words, TRX is a currency that pays you for your content.
- All data on the network is free and not controlled by any central authority.
- By creating a dApp on the network and offering content on it, holders can receive coins or tokens (the TRX token or other tokens underpinned by TRX) as a reward for their content.
- Like with other digital currencies, TRX coin transactions run on a public LEDGER tracing the history of each transaction from the latest to the first one.
- The TRX transaction model called UTXO is similar to the transaction model of Bitcoin, however, TRON has improved Bitcoin’s model by providing additional security.
- TRON coin can not be mined, but tokens can be gained by staking existing tokens to validate other transactions. By validating transactions, holders will be paid a transaction or a token creation fee.
- Holders can earn TRX rewards by freezing assets to gain certain benefits known as ‘Tron Power’. This gives a holder a higher status and provides him with voting rights over decisions on the network. The longer a token holder locks away their tokens for the more Tron Power they receive.
- TRX cannot be bought with fiat currency, only by trading it with Bitcoin or Ethereum.
Businesses that accept TRON (TRX)
Let’s dive deeper into the list of companies accepting TRON as a payment.
Continue reading in the NOWPayments blog!
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NOWPayments is the easiest way to accept online payments in a wide variety of cryptocurrencies. This service is custody-free, has competitive fees and is available worldwide.
- Over 50 cryptocurrencies are accepted on the platform with an in-built exchange feature;
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- It is a non-custodial service ensuring the security of your funds;
- A very simple setup
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