- Founded by Justin Sun - its current CEO - on September 2017 in Singapore
- TRON is a multi-purpose smart contract platform that enables the creation and deployment of decentralised applications.
- The TRON Protocol is one of the largest blockchain-based operating systems in the world, offering a base public blockchain support of high scalability, high throughput and high availability for all decentralised applications in the TRON ecosystem
- In 2018, the project purchased file sharing service BitTorrent in order to expand its product offerings.
- TRON is developing a Web 4.0 that will allow users with data ownership while decentralising the web.
Tron is a powerful blockchain ecosystem which follows the philosophy of “Decentralise The Web”. Blockchain developers all over the world developed and designed it. There are numerous kinds of products that are involved in the TRON ecosystem, including public chain, wallet chain, decentralised applications (DAPPs) and many more. These products are complementary to each other and together, they support the stability of the entire ecosystem.
TRON public chain is a decentralised blockchain network implemented based on TRON protocol. Many things can be done with Tron including token assets issuing, DAPP deployment and running, stake and vote for gains, asset transferring etc.
On July 2018 Tron ecosystem was integrated with BitTorrent, a pioneer in decentralised services with nearly 100 million monthly active users. After the acquisition, the Tron network has gained over 80 million users on blockchain and upwards of 2.9 billion transactions.
Tron also hosts the largest circulating supply of stablecoins across the globe. USDT on Tron overtook USDT on Ethereum in April 2021. There is a strong alliance of 4 Tron based stable coins: USDT, USDJ, TUSD and USDC. Tron hosts several decentralised projects in stable coins, wallets, storage exchanges, lending, liquidity mining, cross chain applications, Oracle, social media, games etc.
Tron Foundation has settled to dissolve itself on July 25th 2021. The Tron Network completed full decentralisation in December 2021 and transformed itself into a fully decentralised and self-governed organisation. Tron DAO was created with this transformation to leverage the Tron protocol to decentralise the internet while boosting effective governance for community members.
TRX is the basic unit of accounts of the Tron blockchain. The value of all other tokens derives from that of Tron. TRX is also the medium currency for all TRC based tokens. TRX connects the entire Tron ecosystem with abundance application scenarios that power transactions in applications on the chain. TRX powered scenarios may include: online transfer with Tron ATM, purchasing merchandise from WeChat stores, booking a hotel with Travala.com and many more!
Delegated Proof of Stake (DPOS) is used to mint the TRX. DPOS is similar to POS but features a delegation and voting mechanism that makes the process more democratic. TRX holders stake them in exchange for rewards. TRX holders vote for nodes by staking for their favourite nodes. When a person wins an election, the user’s computer becomes a node when staking TRX. The more TRX they have in their wallet, and the longer the staking period is, the more likely the user is to be chosen to validate blocks and receive the reward. A new block is generated every 3 seconds and block reward is 16 TRX per block. TRX holders vote for nodes by staking.
Selection of a validator depends on different factors such as age, how much TRX the hold while also being a semi-random process. Only 27 users that were chosen by the TRON community can stake tokens and they are called super representatives. Super representatives' responsibilities include generation of blocks and to package transactions for the entire TRON network. They can take part in decision making and vote on proposals on TRON. 100 Users who are in the queue for validator positions are called super partners. They obtain rewards according to their voting rate of 1.152.00 TRX and the list of super partners are updated once in six hours.
The core layer has a number of modules, including consensus, account management, and smart contracts. On TRON, an efficient instruction set and a stack-based virtual machine are employed. Solidity was chosen as the first smart-contract language, although more programming languages will be supported in the future to further accommodate DAPP developers.
Block Storage and State Storage make up the distributed storage protocol created by TRON. To better fulfil the demand for varied data storage in the real world, the idea of a graph database was incorporated into the architecture of the storage layer.
Blockchain storage: The Google-developed LevelDB, which has been used successfully by numerous businesses and projects, is the database technology that TRON has chosen to deploy. It supports simple compression using the Snappy algorithm, singular get, put, and delete, batch set and delete bi-directional iterators, and arbitrary byte arrays as both keys and values.
State storage: TRON has a KhaosDB in the full-node memory that can store all the recently forked chains created within a certain time frame and supports witnesses to quickly move from their current chain into a new main chain. By strengthening its stability against being abnormally terminated in an intermediate state, it can help secure blockchain storage.
Developers may design a wide variety of dApps and specialised wallets on TRON since it allows for the deployment and execution of smart contracts.
The major formation in this market is the descending triangle that has formed over the last year, if it breaks out in favourable market conditions there is definitely a strong move to the upside on the cards. Major support at the base at price 0.04667 Short term
The market is moving lower within a tight trend channel with the upper bound lining up with the long term upper bound of the descending triangle. It looks like the market does not currently have the momentum to break the triangle, but it’s one to look out for. Above the resistance we should see a strong move higher. Support will come at 0.5658 before the major support at 0.04667 Overall, keep an eye out for a breakout to the upside.
TRX can be purchased from multiple cryptocurrency exchanges, including but not limited to Scallop Exchange. Remember that cryptocurrencies are very volatile investments and that previous performance is never a guarantee of future outcomes. Any investment decision should be based on risk tolerance, market knowledge, portfolio diversification, and how comfortable you are with losing money. A BNB coin forecast is based on previous data and does not reflect all market situations. Never put more money into something than you can afford to lose.
While Tron is still young, its process is very promising. It was created to take out the middleman from the process of media consumption and seems like it will challenge giants like Amazon and Netflix.