What is TRON

TRON is a blockchain-based decentralised protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology that aspires to establish a decentralised content entertainment ecosystem that enables users to freely publish, save, and own data. TRX coin is a cryptocurrency that drives the TRON system.

A Brief History of TRON

TRON is a decentralised entertainment-focused blockchain and content-sharing network. Justin Sun, who formerly worked for Ripple as a chief representative, founded the TRON blockchain network in September 2017. The TRON Foundation raised US$70 million in 2017 through its ICO.

The project’s testnet, blockchain explorer, and web wallet launched in March 2018, while its mainnet launched in May 2018. Soon after launch, TRON ranked among the top 10 cryptocurrencies during many parts of 2018.

TRON has since acquired three organisations: file-sharing provider BitTorrent in June 2018, blockchain app store CoinPlay in March 2019, and blockchain-based social network Steemit in February 2020.

In June 2018, TRON switched its protocol from ERC20 to an independent peer-to-peer network, with the TRON DAO gradually burning ERC20-based TRX tokens in the process. As of the recent updates, the total number of ERC20 TRX burned is 99,188,397,993.45, accounting for 99.19% of the total supply.

TRON provides a decentralised virtual machine that may run a programme by using an international network of public nodes. The network has no transaction fees and can handle up to 2,000 transactions per second. TRON's core technology will be built on adapting IPFS and Ethereum's platform.

TRON had been recently attacked for plagiarism regarding its white paper. In response to allegations, Justin Sun claimed that the translation of TRON’s whitepaper was done by volunteers and that their carelessness resulted in the issues on the project’s paper.

How TRON Works

The TRON network is based on the idea of decentralisation. The blockchain's data is fully free and not controlled by any central body. As a reward for uploading their material, content providers may earn the TRX token.

TRON's architecture is structured into three layers: storage, core, and application. The TRON protocol allocates computer resources evenly among TRX holders using internal pricing mechanisms such as bandwidth and energy.

TRON is developing a consensus method based on delegated proof of stake. Transactions in this system are validated by 27 super representatives who are responsible for keeping track of the transaction history. Every six hours, super representatives are chosen and get TRX currency created by the algorithm as a reward for their services. A new block is added to the TRON's blockchain every three seconds, and individuals who add the block are rewarded with 32 TRX coins.

What is TRON Used For?

Creators can design their own tokens for use on the TRON network. These tokens may then be used in the network's decentralised apps (dApps) created by users. The primary TRX token serves as the foundation for these freshly minted coins.

The support of games on the TRON network is the final stage of the network development plan. These games would be completely decentralised, and consumers would be able to directly reward the authors if they loved the game.

Transactions are very quick since the network can accommodate up to 2000 transactions per second. Such transactional capacity speaks well for the network's scalable future and the network's ability to revolutionise online media. Compared to other currencies such as Ethereum (25 transactions) or Bitcoin (3-6 transactions), it is evident what an accomplishment this is.