what is tron
It is a project designed for the deployment of smart contracts to create trc20 token decentralized applications . Tron adds a system called Delegates Proof -of-Stake (DPoS).
Tron was born with the aim of being a viable alternative to Ethereum. The problem with Ethereum, like other cryptocurrencies with proof-of-work consensus, is scalability. By having limitations in the ability to process transactions, high commissions are generated. Tron adds a different mechanism that allows a large number of transactions to be processed per second.
Although Tron is a decentralized global network, where it seems to have more followers is in Asia . They have a large community that supports the project. It is true that this blockchain has been heavily criticized for its way of advertising.
Note that in 2018 the Tron Foundation acquired the BitTorrent platform . This P2P tool and protocol, for years, has been widely used to share content.
What is the origin of Tron
Project developed by Justin Sun in 2017 . Before starting his own project, he was the creator of the Peiwo app, an app similar to Snapchat. Note that in 2015 he was also a representative of Ripple. Later he leaves all these projects and develops the Tron Foundation.
It was on August 3, 2017 that the Tron ICO was launched , putting 100 billion TRX up for sale. The tokens (then deployed on top of Ethereum) raised $70 million.
Some of the big early investors included Tang Binsen, founder of Clash of Kings, and Dai Wei, CEO of bike-sharing company OFO.
tron founder
Justin Sun (left) with Jack Ma (right)
Team behind Tron
The most visible face is Justin Sun, but behind this project there are many other people. Let's go to other prominent figures within the project.
The first that stands out is the CTO, Lucien Chen , who worked at Alibaba for a long time. He also went through other prominent companies like Netease, Qihoo 360 and Tencent.
Also stand out Maorong Lin and Xiadong Xie, who have many years of technical experience. They have worked for years within the technical part of entertainment and internet commerce.
Tron also has the support of important representatives of the Chinese business community:
Hitters Xu: Founder of Nebulas
Tang Binsen: founder of the mobile game Clash of Kings
Xue Manzi: important Chinese 'business engel'
Chaoyong Wang: Founder of China Equity Group
Dai Wei: CEO of OFO bike
What are the characteristics of Tron
Tron integrates a series of elements that make it different from other blockchains. The main difference from other cryptocurrencies is its Delegates Proof-of-Stake (DPoS) consensus mechanism.
It also has a large ecosystem of decentralized applications (dApps) . We can find a decentralized exchange, an NFT marketplace, block explorer, own wallet, lending platform and decentralized oracles, among others.
Tron token development has recently begun to make its way into decentralized finance (DeFi). A number of related services are being rolled out for this new service branch.
Like Ethereum, Tron has its own virtual machine called TVM . This is in charge of executing the deployed smart contracts (as in the case of the Ethereum EVM). The interesting thing is that it makes use of three layers: a storage layer, an application layer and a core layer.
Computing capacity and bandwidth is distributed by all TRX holders. Using the DPoS mechanism, this network can theoretically support up to 2,000 transactions per second.
blockchain tron operation
How Tron works
One of the big differences between Tron and Ethereum, Solana , Cardano and other similar blockchains is its consensus mechanism. As we have discussed, Tron makes use of the Delegated Proof of Stake (DPoS) system.
This makes mining in Tron not a necessary element, since the blocks are generated by specific nodes. Transactions are validated and added to blocks by 27 delegates . These delegates are called Super Representatives . Said Super Representatives are elected by vote by the holders of the TRX tokens. The voting power directly depends on the number of tokens held.
Every six hours the Super Representatives can change according to the criteria of the coin holders. These special nodes are tasked with confirming transactions and generating new blocks.
Super Representatives for these tasks receive a reward in TRX. Indicate that the blocks in Tron are generated every three seconds and for each block, the super node receives 32 TRX tokens.
Annually, taking into account the time between blocks and the reward per block, 336,384,000 TRX per year are added to the currency.
Architecture
We have commented that Tron has an architecture that is divided into three layers . We have the storage layer (storage), the application layer (App) and finally the core layer (Core).
The different layers communicate through a protocol that works through various programming languages. Specifically, Java, Python, C++, Scala and Go are used. The language used initially was Java, although other programming languages were added.
The entire architecture of Tron is explained in the design document called TRON Architecture. The following characteristics are specified there:
Storage layer: It is a distributed block and state storage system. The graphical database has been specifically designed to offer fast processing and simplify updates. All seeking to satisfy the need for a diversified data storage system.
Core layer: This is the layer where most of the modules and elements are located. Here are the smart contracts, the account management, the delegated proof-of-stake consensus mechanism, among others.
Application layer: Where developers create and deploy decentralized applications. Obviously it allows the customization of the same and even the issuance of tokens for the dApp.
tron blockchain architecture elements
What improvements will Tron implement
Tron, like other cryptocurrencies, are of very recent creation and are in their infancy. The problems with most blockchains come from the fact that we are still exploring the capabilities of this technology. Different solutions are currently being worked on to be deployed over the next 8-10 years.
exodus
Currently the project is in the first phase of Exodus. The idea is to offer a simple to use distributed file sharing system that is similar to IPFS. For this first phase, blockchain technology would not be used. This will change in a second phase, where a block system will be added.
odyssey
It wants to offer early adoption and the creation of communities of content creators and consumers. It would be a model quite similar to proof-of-stake consensus.
Earnings for creation are tied to a metric system based on a tip scheme. The system of simply visits or clicks is replaced. Visits and clicks are not an ideal metric. These can be artificially generated by bot farms.
They would be working on a system based on TRX transactions. This allows the exchange of value for faster services. For this mechanism, an entry/exit payment is required in a TRX account if users lack this token.
Grady Voyage and Apollo
Phase three (Great Voyage) and phase four (Apollo) seek to allow content creators to offer personal brand participation through 'individual ICOs' or brand tokens.
This requires Tron token development company application platform. It would be similar to Ethereum, with a Turing-complete language to support smart contracts. From Tron they are aware that they could suffer from network congestion due to the launch of ICO, something that already happens in Ethereum.
It could have the side effect that the network cannot validate this token issuance. Indicate that the Tron technical document does not expose how it is protected from Sybil-type attacks or hacks of exchange accounts on the network. It only mentions the effort to mitigate these threats by creating a DEX.
A new token standard has arrived on the Tron blockchain.
It is more important to introduce a token standard focused exclusively as the Nft merges which leads to the construction of the new token standard: TRC 721.The main NFT standard convention in TRON is TRC-721.
Play as important a job as TRC-20.The development of the TRC-721 standard allows each token to have its exceptional value, making it conceivable to move certifiable things on a chain in a truly advanced structure without haggling over its remarkable qualities.
Tokens manufactured through the TRC-721 standard will really want to address any kind of computerized or substantial resources in the genuine world, opening the way for people to claim and monitor information identified with a particular unmistakable item or receipt, and later make constructive results in defenseless companies against misrepresentation, literary theft, and falsification.Engineers will find it faster and easier to apply TRC-721 to their own items and applications due to TRON's financially intelligent and competent public chain framework.
We are probably going to track the following on the blockchain: the TRC-721-consistent applications and the base conventions that guide physical and virtual resources onto the blockchain.
the crypto economy is more entrenched, the blockchain more extraordinary and its applications are destined to occur.Without a doubt, you can tell that Tron had really started their NFT venture by first declaring in the long period of December 2020, in which TRON's NFT standard is significant enough to open up some quirky and new opportunities for applications that are actually based on the TRON blockchain with its versatile highlights.
For some, it's a cheesy '80s movie.
Plus, you can pay them to create and share content and data.With the development of the Tron cryptocurrency ecosystem , content creators are paid with Tron's basic blockchain account unit: Tronix, which is often abbreviated to the ticker symbol TRX.This is revolutionary - many social media platforms collect and monetize user data, and account holders never make any profit.
Let's take Facebook as an example.
Tron has a different vision: that each user of social networks has control of their data and is compensated for what they shareHow Is Tron Used?The most significant advantage of Tron is that it can empower content creators and artists around the world.
To understand the upcoming TRX price predictions, it is important to have a solid idea of what kinds of events can affect its value.
The price of TRX increases if its demand is higher than its supply, and when the opposite occurs, the price will fall.
