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Tron

Last Updated: January 29, 2024

TRON is a multi-purpose smart contract platform that enables the creation and deployment of decentralized applications (dApps). TRON aims to make it easier to distribute files, images, videos and other entertainment content in a decentralized way, without media tech giants involved. 

TRX is the basic unit of accounts on the TRON blockchain as well as the natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem through various applications that power transactions on the chain.

Background

In September 2017, H.E. Justin Sun founded TRON, launching the Singapore-based Tron Foundation to guide the development of the native currency. TRON started on Ethereum but migrated to its own blockchain, the TRON network which launched their Mainnet in May 2018.

Launch

In 2017, TRON held an ICO for its native token TRX with the TRON Mainnet launching on June 25, 2018.

How does it work?

To accomplish that goal, TRON borrows some of its virtual machine technology from Ethereum which allows network contributors called nodes to TRON-based smart contracts. TRON is secured by a delegated proof-of- stake (PoS), a consensus mechanism where token holders deposit an amount of TRX into a wallet and elect a delegate to validate transactions on the blockchain on their behalf.

Sources and Resources

TRON WebsiteWhitepaperGitHubCoinDesk

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