When was TRX coin issued? Learn about the origin of TRX coin in one article

TRX coin, initially issued through an ICO in 2017, serves multiple purposes within the Tron ecosystem, including governance, network fees, and staking.

Oct 05, 2024 at 06:48 pm

1. TRX Coin Issuance

TRX coin, also known as Tronix, was initially issued through an initial coin offering (ICO) held in August 2017. The ICO raised approximately $70 million in funding.

2. Tron Foundation Establishment

In September 2017, the Tron Foundation was established in Singapore as a non-profit organization. The foundation serves as the driving force behind the development and governance of the Tron ecosystem, including TRX coin.

3. Genesis Block Launch

On May 31, 2018, the Tron genesis block was launched, marking the official inception of the Tron blockchain. Tron became an independent blockchain platform with its own network and protocols.

4. Mainnet Launch

On June 25, 2018, the Tron mainnet went live, bringing the Tron blockchain and its associated features to public use.

5. Migration to Mainnet

Following the mainnet launch, TRX coins were gradually migrated from the Ethereum blockchain, where they were initially issued, to the Tron blockchain.

6. TRX Coin Utility

TRX coin serves multiple purposes within the Tron ecosystem:

Governance: TRX holders can participate in network governance by voting for Super Representatives, who are responsible for validating transactions and maintaining the network.
Network Fees: TRX is used as fuel for transactions on the Tron blockchain, covering network fees associated with data storage, smart contract execution, and other activities.
Staking: TRX coin can be staked to earn rewards and support the network's security. Stakers receive rewards in the form of additional TRX coins.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

STRK

$0.1117

58.18%

Trade Now
TIA

$0.5855

20.01%

Trade Now
AERO

$0.9756

14.40%

Trade Now
ARB

$0.2004

8.68%

Trade Now
INJ

$7.69

6.07%

Trade Now
ZRO

$2.05

4.90%

Trade Now

Latest Crypto News

Retail Investors Flock Back to Crypto: Google Searches Surge Amidst Market Volatility
2026-10-11 20:35:01
Ethereum ETFs Experience Million-Dollar Exit Amid Worst Week Since January
2026-10-11 17:05:02
Ether ETFs Endure Worst Week Since January Amid Broader Crypto Sell-Off
2026-10-11 17:10:01
XRP Traders, Bitcoin Trader, Ledger: A New York Minute on Crypto Security and Macro Swings
2026-10-11 16:35:01
CFTC Draws Line: Prediction Markets as Swaps, Casino Gambling Left to States
2026-10-11 16:40:01
Bubblemaps Uncovers Potential $125K Profit for Pump.fun Influencer Amidst Scrutiny
2026-10-11 17:00:02

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validato...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a ...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTec...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat ...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig Walle...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contrac...