Tron is a project aimed at the development of a truly decentralized Internet and its infrastructure. The TRON Protocol is one of the largest blockchain-based operating systems in the world that offers public blockchain support of high throughput, scalability, and availability for all Decentralized Applications (DApps) in the TRON ecosystem.
In July 2017, the TRON Foundation was established in Singapore, and in December 2017, TRON had launched its first open-source protocol. After the launch of the first open-source protocol, the Testnet, Blockchain Explorer, and Web Wallet were all launched in March 2018. TRON Mainnet launched shortly afterward in May 2018. In October 2018, TRON launched the TRON Virtual Machine (TVM), a complete developers’ toolset, and 360 support system with a roadmap that intends to allow the combining of all 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.
In TRON’s ecosystem, there are several modules in the core layer, including smart contracts, account management, and consensus. To ensure better support for DApp developers, Solidity was chosen as the smart contract language which is also supported by the future use of other advanced languages.
TRON’s consensus mechanism is based on Delegated Proof of Stake (DPoS), the same consensus system of Solana, Cardano, and Polkadot. The innovative Delegated Proof of Stake system allows 27 Super Representatives (SRs) to produce blocks for the network. Every 6 hours, TRX account holders who freeze their accounts can vote for a selection of SR candidates, with the top 27 candidates deemed the SRs. This allows for a more democratized and decentralized ecosystem. SRs’ accounts are normal accounts, but their accumulation of votes allows them to produce blocks.
The TRON protocol network generates one block every three seconds, with each block awarding 32 TRX to Super Representatives. A total of 336,384,000 TRX will be awarded annually to the 27 SRs.
Each time an SR finishes block production, rewards are sent to a sub-account in the super-ledger. SRs can check, but not directly make use of these TRX tokens. A withdrawal can be made by each SR once every 24 hours, transferring the rewards from the sub-account to the specified SR account.
The three types of nodes on the TRON network are Witness Node, Full Node, and Solidity Node.
Witness nodes are set up by SRs and are mainly responsible for block production and proposal creation/voting. Full nodes provide APIs and broadcast transactions and blocks. Solidity nodes sync blocks from other Full Nodes and also provide indexable APIs.
TRON designed a unique distributed storage protocol consisting of Block Storage and State Storage. The blockchain storage chooses to use LevelDB, which is developed by Google has high performance, supports arbitrary byte arrays, and allows simple compression using the very fast Snappy algorithm.
The state storage uses KhaosDB in the full-node memory that can store all the newly forked chains generated within a certain time and supports witnesses to switch from their active chain swiftly into a new main chain. KhaosDB can also protect blockchain storage by making it more stable from being terminating abnormally in an intermediate state.
On the TRON ecosystem, developers can create a diverse range of DApps and customized wallets since it enables smart contracts to be deployed and executed, the opportunities for utility applications are massive.
TRON protocol adheres to Google Protocol Buffers, a language-neutral, platform-neutral, and extensible way of serializing structured data for use in communications protocols, data storage; it is similar to JSON or XML, but much smaller, faster, and simpler.
As a comparison, Protocol Buffers is 3 to 10 times smaller and 20 to 100 times faster than XML, with less ambiguous syntax.
Who Are the Founders of Tron (TRX)?
Justin Sun, born July 30, 1990) is a Chinese-American techpreneur, founder of the cryptocurrency platform called TRON, and the current CEO of Rainberry, Inc. He is the founder and CEO of the mobile social app Peiwo.
He holds an M.A. in East Asia Studies from the University of Pennsylvania and a B.A. in History from Peking University.
What is Tron (TRX) Used For?
TRON offers a suite of development tools for enabling developers to create innovative DApps.
TronBox is one of the tools with a framework that allows developers to test and deploy smart contracts via the TronWeb API. TronGrid is a tool that allows developers to access the TRON network without having to run their node. TronStudio is a comprehensive Integrated Development Environment (IDE) that enables developers to compile, deploy, and debug their Solidity smart contracts. TronStudio contains an internal full node that creates a private local environment for smart contract testing before deployment.
TRX can be used as a store of value, as an investment or you can trade it for other cryptocurrencies. This means in exchange for TRX tokens, you can purchase physical products if the vendors accept. As such it could be considered as ‘real money.
Also, TRX tokens can be used to increase your voting power as it is possible to lock away the tokens to gain a reward known as ‘Tron Power’. Tron Power provides the holder with voting rights over actions on the network as well as giving them a higher status over other TRX holders. The longer a token holder locks away their tokens for the more TP they receive.
What Is the Unique Point of the Tron (TRX)?
Tron’s feeless transaction tops the chart as the unique point. In a world of cryptocurrency filled with high transactional fees or gas fees, free is a delight to the ears. In summary, there are no fees for TRX transactions and the network can support 2000 of these feeless transactions every second. Although this feeless transaction does not transcend into the purchase of TRX tokens on the Tron Exchange as there are charges that may be incurred. This fee is a sort of compensation for linking you with an available seller as TRX tokens can only be our headed by exchanging into one cryptocurrency token or the other. So, a direct purchase will require charges.
How Many TRX is in Circulation?
Tron has a circulating supply of 71,660,220,128 TRX tokens.
Is Tron (TRX) Network Secured?
In May 2019, the cyber-security testing service HackerOne revealed that just one computer could have brought TRON’s entire blockchain to a halt. They further proved that a barrage of requests sent by a single PC could be used to squeeze the power of the block chain’s CPU which then overloads the memory, and perform a distributed denial-of-service (DDoS) attack.
After this revelation, Tron’s spending and hiring of cybersecurity personals have improved the security of Tron. To date, Tron has yet to suffer a security scandal.
How do I buy Tron (TRX)?
Tron offers loads of benefits to users and developers by offering better services at an affordable rate. To enjoy benefits like the ease in a feeless transaction, faster payment, available tools and resources for developers, and a secured network, the TRX token is necessary to have. Its adoption rate has increased and made it steadily available across several platforms. To buy TRX tokens, the steps below provide the right direction to purchasing their tokens.
* Open an account with the crypto trading platform.
* Transfer your specific fiat currency to your account.
* Wait for your deposit to be confirmed and Buy TRX tokens through your trading account.
Which Cryptocurrency Wallet Supports Tron (TRX)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as TRX tokens. Because of its speed, flexibility, and unique features, it has grown to become one of the most used new platforms. In addition, users can easily use PTPWallet as their main Tron wallet as it offers a simple and interactive interface, making it easy to navigate its system.