TRON is a multi-purpose smart contract platform that enables the creation and deployment of decentralized applications (dApps). It features a delegated Proof-of-Stake (DPoS) consensus mechanism, a system that offers an increase in performance while maintaining true decentralization and censorship resistance.
TRON is arguably most famous for its low cost ability to make transactions in comparison to other layer-1 solutions such as Ethereum.
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON network launched their Mainnet in May 2018. July 2018 also marked the ecosystem integration of BitTorrent File System, a decentralized peer to peer file sharing network. In May 2022, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens have been granted statutory status as authorized digital currency and medium of exchange in the country.
TRX is the basic unit of accounts on the TRON blockchain. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem through various applications that power transactions on the chain.
- Credit card spend supports TRX payment
- TRX can be used to purchase tokens to be issued on TRON
- Obtain corresponding amount of energy and bandwidth by freezing TRX
- Obtain TRON Power, voting rights for super representatives by freezing TRX
The TRON public chain uses highly abstract modularisation. It separates the system into several core modules, including the underlying network, data storage, consensus, transaction actuator, TVM, and application layer interface.
The end result is that this enables, through the DPoS consensus algorithm, a maximum of 2,000 TPS.
The underlying network module is a set of customizable and efficient message response systems, built based on Netty, a high-performance network framework. Network module is separated into two modules: Node discovery is implemented based on the Kademlia algorithm. It meets the requirements of node discovery in decentralized network environments and can defend eclipse and witch attacks by a set of node scoring mechanism. Node communication module uses TCP for data transfer. Based on this, a flexible and extensible message registration response mechanism is designed on the business layer.
Blocks are categorized as solidified and un-solidified block to tap the performance potential of the public chain. It can reduce the limits of the CAP theory of distributed systems and give the most consideration to data availability and consistency.
Solidified blocks cannot be rolled back. Un-solidified blocks contain the latest transaction data. Full nodes provide data inquiry services for both types of blocks to meet various needs from users.
100 billion TRX were initially issued. 15.75 billion TRX were allocated to private sale investors and 40 billion TRX were allocated to ICO investors. The Tron Foundation received over 34 billion TRX and Peiwo Huanle (Beijing) Technology Co, Justin Sun’s company, received 10 billion TRX.
The Tron Foundation initially did not have any lock-up restrictions but locked up its entire holdings until January 01, 2020, when the Tron Mainnet launched on June 25, 2018. It also conducted a 1 billion TRX burn in order to celebrate the launch of the Mainnet. This was advertised as “Independence Day”.