| Online Broker | Minimum Deposit | TRON Trading Platforms |
|---|---|---|
| Deriv | $5 Minimum Deposit | Deriv X, MT5 TRON Trading Platforms |
| Dukascopy Bank | $1000 Minimum Deposit | MT4, JForex TRON Trading Platforms |
| Plus500 | $100 Minimum Deposit | Plus500 Platform TRON Trading Platform |
| IQ Option | $10 Minimum Deposit | IQ Option Platform TRON Trading Platform |
TRON - Distributed Applications With Rapid Processing
The trader may trade TRON CFDs at some brokers. When trading a CFD the trader does not own the cryptocurrency and does not need a wallet.
What is TRON ?
TRON is a platform for developing and running decentralised applications, which allows rapid processing of transactions ('high throughput') and increasing numbers of users ('scalability'). It uses the Solidity programming language to create distributed applications (like Ethereum). TRON does not use a Proof of Work consensus algorithm, which is part of the way a network secures its data, rather uses a modified version of Proof of Stake called Delegated Proof of Stake. In this system, there is a group of Super Representatives chosen by TRON account holders, who make blocks of processed data for the network. This is a level of centralisation versus Proof of Stake and in particular Proof of Work, but TRON says it allows for rapid transaction processing (around 2000 Transactions per Second).
The core of the system is the Tron Virtual Machine which forked from the Ethereum Virtual Machine, hence the continued use of Solidity. Instead of managing resource requirement using Gas, TRON uses the concept of Energy which does not have a fee associated with it (though there are some fees associated with using the network). So there are both similarities with and differences from the Ethereum network.
The token used on the TRON network has the ticker symbol TRX and is traded on cryptocurrency exchanges. A CFD is a Contract for Difference and references the value of the underlying market (e.g. TRON on exchanges). The trader trades the CFD with their provider (the broker) and does not own any TRON when doing so. As they do not own TRON, they do not need a wallet to store it and can go long and short and use leverage, but increasing leverage increases risk and cryptocurrencies are extremely volatile.
