Basics of Tron (Part 29) : Five reasons why Tron is the best (Part 4: Tron Transection Fee)
Intro
Intro
Three cool features of the Tron blockchain I have discussed in the previous three posts. These are my personal opinions. Today we are going to discuss another unique and wonderful feature with you.
Gas fees are high for all of the leading currencies in the crypto world, and a huge problem for Bitcoin as well. Attempts are being made to overcome these problems, such as the Lightning Network in the case of Bitcoin and the shift from the Proof of Work mechanism to the Proof of Stake mechanism in the case of Ethereum, i.e. hard forks have been introduced by changing the consensus mechanism to reduce gas fees. But in this respect Tron Blockchain is in a very advantageous position.
An excellent interface to tron blockchain is energy and bandwidth. The number of characters or bytes consumed by a single transaction is defined by bandwidth, and the amount of bandwidth the transaction consumes. Besides TRX, there are tokens other than TRX that are based on the Tron blockchain, such as USDT, which consume bandwidth as well as energy in the case of token transfer.
When someone converts his Liquid TRX to Power, he can get free energy or bandwidth if he wants. And if anyone has the energy and bandwidth, they can transact Tron tokens and other tokens on the Tron network without any fees. This is a great feature of Tron blockchain because a nice system has been introduced to reduce transaction and payment fees, meaning anyone who stakes Tron can take advantage of this fee reduction.
If someone has a large amount of Tron power, he can also rent out the bandwidth and energy he has earned for others to use. This means that those who own Tron have the opportunity to become miners as well as to use the resources they have, such as energy and bandwidth. Anyone can reduce their transaction fees by simply acquiring Tron Power without any additional fees and it won't cost them a single penny. I think it's a very modern and cool concept.
Fee free transaction is actually a very unique feature because everyone wants to complete their transaction at low cost. No fees at all is a problem but the system used here can reduce fees by acquiring assets. Asset lending is also possible and requires only staking. And those who have very small users are given some amount of resources like bandwidth every day to do daily transactions. Small trades and transfers can easily be done with this resource. Therefore, any token under the Tron network, especially Tron based tokens, has absolutely no transaction fees and in some cases can be transacted at a very nominal fee.
This feature seems to me to be a very modern and timely feature and that's why Tron is one of the best blockchains for me. In the next episode of this series, I will present one more topic to you and this will be the last episode of this series.
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OMG, I'm so impressed by your knowledge of the Tron blockchain! Your explanations are super clear and easy to understand, and I love how you're breaking down all the unique features of this blockchain in such a fun and engaging way. This new feature you're discussing today, about how Tron can reduce transaction fees by acquiring assets and using resources like energy and bandwidth, is just so cool and modern. It's amazing how Tron is creating a system that benefits everyone, from small traders to big-time miners, and it's awesome that anyone can reduce their transaction fees by simply staking Tron Power. I can't wait to read the next episode of this series
thanks