When Tron project was launched, it was planned to create an analogue of a decentralized social network. Where entertainment content would be available to anyone. Let’s see how close creators TRX came to realization of their plans.
Blockchain Tron is one of the most controversial cryptocurrency projects. This year this project turned 5 years old! And according to some indicators, it really surpassed second largest by capitalization cryptocurrency ETH.
Decentralized social network
Blockchain Tron is a decentralized entertainment content ecosystem. TRX was launched in 2017 by Chinese entrepreneur Justin Sun. According to his idea. Developers can create their own entertainment applications (dApps) on the platform. And offer them directly to users, bypassing resellers.
Tron was originally launched on Ethereum blockchain. But in summer 2018, cryptocurrency was migrated to its own blockchain. In July 2018, BitTorrent was also integrated into Tron ecosystem. It’s a protocol for sharing files. And it has about 100 million monthly active users.
TRON network completed decentralization in December 2021. And it is fully managed by DAO community. When anyone can create content and share it with the community.
Tron blockchain architecture consists of three layers: storage, management and applications. Third layer gives developers the ability to create DApps in a variety of programming languages. Such as Java, Scala, C++ and Python. This makes it one of its leading platforms for creating applications.
This blockchain is highly scalable. This opens up a lot of opportunities for devs to deploy their applications while being used by millions of people at the same time. Tron has better throughput than Ethereum or Bitcoin networks.
Also TRX has a sidechain project called Sun Network. Its goal is to help applications run with less power. And higher speed and enhanced security. At the same time, sidechain provides unlimited storage for the main TRON network. Sun Network is fully compatible with the core protocol. And it uses all of its key functionality.
Tron blockchain uses TRC20 token standard. According to TRONSCAN, total transfers in this network exceed $5 trillion. And total number of accounts in network is 105 million. The volume of blocked funds in the protocol (TVL) is about $11.3 billion. Many cryptocurrencies based on Tron blockchain (according to TRC-20 standard) operate. The best known tokens that support the TRC-20 standard are:
TRONIX (TRX) is the network’s own token, the main unit of account in the TRON blockchain. As of August 2, 2022, the token is the 17th largest cryptocurrency with a market capitalization of $6.3 billion, according to Coingecko.
Key advantage of Tron blockchain is the amount of commission. In TRC-20 form, it costs about $1 to transfer USDT tokens. And in ERC-20 form, the fee can be at least $2. And there is no upper limit: at the time of network congestion, the amount of commissions reached tens and hundreds of dollars.
USD Coin (USDC) is another Stablecoin tied to the U.S. dollar. USDC is compatible with several blockchains, including TRON network.
BTT (BitTorrent) is a TRC-20 service token that supports dApps. Which include BitTorrent Speed. BitTorrent file system and others.
APENFT (NFT) is the official management token of the APENFT marketplace. It is part of the Tron ecosystem and runs on the BitTorrent network. This coin serves as proof of rights to non-interchangeable tokens. Cryptocurrency owners can vote, share profits. And participate in token airdrop.
Our Crypto-Upvotes experts consider Tron platform one of most promising and safe. And we also recommend that you include this project. In your long-term investment portfolio. Because price of this project has not yet reached its ATH. And will rise in the next few years.
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