Tron (TRX) Amount: 1000 TRX
The auction timer counts down to the end of the auction.
When the auction timer reaches 00:00:00, the auction ends and the winner is the user who placed the last bid.
1. Bidding is placing an offer.
2. Each bid on the previous offer extends the auction time by the time specified in the auction card. Depending on the auction, this can be from 5 to 60 seconds.
3. Each bid increases the item price by a few symbolic cents. Depending on the auction, this can be equivalent to 1 to 10 cents.
You need Bids to place a bid. BIDs are the currency of the service that allows you to participate in all auctions and buy items for pennies. To purchase BIDs, click here.
You can approach the auction yourself using the "Bid" button or use a special Auto-bidder that will help you participate in the auction when you are not at your computer. (read more).
Tron (TRX) is a decentralized, open-source blockchain platform founded by Justin Sun in 2017. It aims to create a global digital content entertainment system that allows users to share, store, and distribute content in a peer-to-peer manner. Tron's goal is to cut out intermediaries, such as content platforms and app stores, giving content creators direct access to their consumers and allowing them to retain a larger portion of their earnings.
Initially launched as an ERC-20 token on the Ethereum blockchain, Tron later migrated to its own native blockchain, called the Tron Mainnet. The native cryptocurrency of the Tron network is called Tronix (TRX) and is used for various purposes, including executing smart contracts, making transactions, and participating in decentralized applications (DApps) built on the Tron platform.
Tron uses a Delegated Proof-of-Stake (DPoS) consensus mechanism, which involves a group of elected "super representatives" who are responsible for validating transactions and maintaining the blockchain. This approach is designed to be more energy-efficient and scalable compared to Proof-of-Work (PoW) mechanisms.
Tron has gained attention for its focus on the entertainment industry, specifically in areas such as gaming, social media, and streaming services. Over time, Tron has expanded its ecosystem to include various DeFi applications and support for non-fungible tokens (NFTs), making it an increasingly popular choice for developers and users alike.