EOS vs Cardano and Tron

Tronscan V2 is the new TRON explorer. The explorer was developed to help the users of TRON (TRX) network to gain access to the information published on the blockchain network. It came as a great achievement towards the core value of TRON which was data liberation. Users can now distribute and access digital data freely without any restrictions.

Contrary to the internet where the data is controlled from a central point, TRON is decentralized and the network depends on the peer to peer transactions.

Why create wallet on Tronscan V2?

There are different wallets which support Tronix (TRX), which is the official TRON token. However, you need to create wallet account on Tronscan V2 in case you want to participate on the upcoming elections for super representatives.

Super representatives are those TRON users who will be chosen to promoting the growth of the TRON network. Their main role will be handling the transactions within the network as well as creating nodes.

Only 27 super representatives are required and the elections are slotted for 26th June 2018. Apart from the roles assigned to the users who will be voted for, the voted users will also receive extra rewards essentially for winning in the elections.

This elections are well in line with the launch of the TRON TRX mainnet which is scheduled for 31st this month.

You can only participate in the voting or register to be voted for as a super representative after creating a wallet on the Tronscan V2. The Tronscan V2 will give those users who want to attract voters the ability to manage the information being published so that they can attract voters. The Super Representatives aspirants will have the privileges of being able to publish their digital information precisely where the voters are. Tronscan even provides a template for building a static page which is accessible on Tronscan and the link of the static page is displayed next to the name of the aspirant so that voters can access the page easily.

Steps to create your Tronscan wallet

  1. Go to the official Tronscan V2 webpage.

This is where you will create your wallet from. If you navigate to the top right corner of the webpage, you will see the open wallet button.

  1. Click on the open wallet button and scroll down the drop down menu to create wallet option.
  2. Setting the password to your wallet

When you click the ‘CREATE WALLET’ you will be taken to enter the password of the wallet you are just about to create. The password does not mean that you will not have your private and public keys; NO! This is just an added security feature to ensure that your wallet is secure; you can only enter the private key once you enter the correct password.

Here you should enter a very strong password to protect your TRX coins.

  1. Downloading your Keystore file

Once you set a strong acceptable password, you will be allowed to download your Keystore file.

Just click on the ‘DOWNLOAD ENCRYPTED KEY’ so that the Keystore file can be downloaded and stored in your computer. This file should be stored very well since once you lose it, Tronscan cannot help you to retrieve your key.

  1. Saving your private key

After downloading the Keystore file, click on the ‘NEXT’ button. You will be shown your private key and you can choose to save it on your computer or print it on paper.

  1. Complete the wallet creation procedure

After saving the private key, click on ‘NEXT. You will be notified that you have completed the procedure.

  1. Go to your account page

Click on the ‘ACCOUNT PAGE’ so as to manage your TRX coins.

Here, you will be able to access your public address and also view your TRX balance. You can now receive TRX coins into your wallet using your public key address or even send money if you want.

  1. Freeze your TRX coins

To participate in the voting process, you will need to LOCK your TRX so as to have Tron power. The Tron power is the one that will allow you to vote for a super representative.

When you lock your TRX coins, you will not be able to use them for at least 3 days. After the 3 days, you can use your TRX coins.

In case you also want to register as a super representative candidate, you can do that from your account page.

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This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.


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