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TRON

TRON is a decentralized, open-source blockchain-based operating system

Summary

TRON is a decentralized, open-source blockchain-based operating system with smart contract functionality, proof-of-stake principles. That is the principle for what its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX), works too. TRON is dedicated to accelerating the decentralization of the Internet via blockchain technology and decentralized applications (DApps).

History

The TRON DAO was established in July 2017 in Singapore. In December 2017, TRON had launched its open-source protocol. The Testnet, Blockchain Explorer, and Web Wallet were all launched by March 2018. TRON Mainnet launched shortly afterward in May 2018, marking the Odyssey 2.0 release as a technical milestone. In June 2018, TRON declared its independence with the creation of the Genesis block, along with the July 2018 acquisition of BitTorrent. In October 2018, TRON launched the TRON Virtual Machine (TVM), a complete developers’ toolset, and 360 support system. The TRON roadmap involves combining BitTorrent’s 100 million users with the TRON network via Project Atlas, as well as fostering the developer community to launch exciting new DApps on the TRON network.

The TRON network has gained incredible traction in recent years, with over 74 million users on the blockchain and upwards of 2.8 billion transactions. In addition, TRON hosts the largest circulating supply of stablecoins across the globe, overtaking USDT on Ethereum in April 2021.

The TRON network completed full decentralization in Dec 2021 and is now a purely community-governed DAO.

Services and solutions

TRON adopts a 3-layer architecture divided into storage layer, core layer, and application layer. The TRON protocol adheres to Google protocol buffers, which intrinsically supports multi-language extension.

The TRON protocol, maintained primarily by the TRON Foundation, distributes computing resources equally among TRX holders with internal pricing mechanisms such as bandwidth and energy. TRON provides a decentralized virtual machine, which can execute a program using an international network of public nodes. The network has zero transaction fees and conducts approximately 2,000 transactions per second.

The implementations of TRON require minimal transaction fees in order to prevent malicious users from performing DDoS attacks for free. In this respect, EOS.IO and TRON are quite similar, due to the negligible fees, high transactions per second, and high reliability, and as such are regarded as a new generation of blockchain systems. Michael Borkowski, Marten Sigwart, Philipp Frauenthaler, Taneli Hukkinen and Stefan Schulte defined TRON as an Ethereum clone, with no fundamental differences. The transactions per second rate on Tron’s blockchain was questioned because it was far below its theoretical claim.

Mission and vision

TRON is an ambitious project dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the TRON ecosystem. The July 2018 acquisition of BitTorrent further cemented TRON’s leadership in pursuing a decentralized ecosystem.

As David Uhryniak, the Director of Blockchain Strategy at TRON recently said:

Tron actually has a market share of approximately 25% of the entire stablecoin market, and is transacted on the Tron blockchain. And I think that’s really an area where we do have a significant presence and we will continue to see that grow as stablecoins become more prominent. You’re going to see that evolve, that is going to be really one of the things, one of the foundations if you think about it in terms of pillars. That’s really one of the pillars of Tron. Additionally, when you think about the future of Tron and the future of everything going on in this space, it really connects to NFTs, just really supports the gaming space, which really plays into the Metaverse.”

“From a gaming perspective we have a couple of cool games already, one that I think is really cool is WinNFTHorse, which is a horse racing game where you create the NFTs, you create your own horses, out of, turn it into an NFT, and then participate in races, as your horse wins it increases in value, just like any horse racing would be, in real life, it’s been very well received, I think there’s been over, it’s only been launched recently, we have over 22 thousands horses that’s been created overall, the initial game offering sold out within one second, you know, over ten million page views, and I think this year, as we become more known in the US, I think it’s really possible you see some really, well-broadcasted or notable events coming up in that horse racing game, especially as we move into the real horse race season here in the US, it’s possible you’ll see some really interesting events coming up on Tron.”

Team

Founder, Justin Sun

Justin Sun. is an Ambassador, Permanent Representative of Grenada to the WTO, and a Geneva-based Chinese-Grenadian diplomat, entrepreneur, and business executive. He is best known as the Founder of TRON, a leading blockchain DAO ecosystem. In December 2021, Justin Sun retired as the CEO of TRON to become a Diplomat for Grenada.

David Uhryniak, Blockchain Strategy Director at TRON

David Uhryniak joined TRON in January 2022 right after the platform completed full decentralization in Dec 2021 and has become a purely community-governed DAO. In that regard, David will be a visible part of the team driving that effort and will identify key opportunities within the broad blockchain ecosystem, and ensure TRON is positioned to act on the opportunities.

References

https://en.wikipedia.org/wiki/Tron_(cryptocurrency)

https://tron.network/

https://en.wikipedia.org/wiki/Justin_Sun

https://www.cryptonewsz.com/announcement-on-tron-foundation-restructured-as-tron-dao/

https://www.linkedin.com/company/trondao