The Tron cryptocurrency for a decentralized web, what it is and how it works.

The Tron cryptocurrency conceived by Justin Sun in 2017, is a project that aims to create a decentralized internet.

The idea of creating a decentralized platform has long been a goal of many projects that are born today in the cryptocurrency sector.

Above all, the concept of decentralization is very important, also because it would be the concept that gave birth to Bitcoin.

But let’s see what it is and how the Tron cryptocurrency works.

What is the Tron cryptocurrency

Tron is a project that was born through an ICO in 2017 in Singapore and the Testnet, Blockchain Explorer and Web Portfolio were launched in 2018.

The project is open source and originally leaned on the Ethereum blockchain but in 2018 with the Odyssey program it detached itself from Ethereum and created its own blockchain.

It consists in creating a decentralized platform for smart contracts that target digital entertainment.

One of its acquisitions was BitTorrent which is a leader in file sharing and precisely Tron aims to create a large ecosystem of streaming files.

The blockchain allows the use of both ERC-20 smart contracts which are those of Ethereum, and their own which are ERC-10 type.

The Tron network also has its own token which is always called tron ​​and serves as well as being used as a means of payment, also for the functioning of the system itself.

The total availability of the token is around 99 billion while the current circulation is around 66 billion.

The Tron blockchain

The Tron blockchain

The block validation system, unlike Bitcoin which uses the POW algorithm, Tron uses the DPOS.

That is, the token is frozen in exchange for energy and bandwidth, to allow some functions such as voting or the creation of smart contracts.

Here there are the Super Representatives that are 27 and they are delegated the frozen tokens to be able to solve the blocks and bring them back to the blockchain.

In addition, there are another 100 who are the patners representatives and they are assigned less important tasks and then finally there are the candidates for the super representatives.

The block is generated every 3 seconds and is worth about 35 tron ​​which are divided between the super representatives who, however, can withdraw them after 24 hours.

Thanks to this algorithm, Tron manages to make about 2000 transactions per second unlike Bitcoin which can make a maximum of 3.

This can allow Tron to be very scalable and also does not allow transaction fees within it.

Tron is composed of a 3-layer architecture where the first layer we find the applications, the second is the validation system of the blockchain that is where the calculation process takes place and finally the distributed storage where everything is stored in a distributed way.

How the system is used

How the system is used

Tron can be used in a variety of ways, from distributed storage to a decentralized dapp platform.

But before benefiting from its features, you must use its Tron Virtual Machine (TVM) which would be the application to be able to make a smart contract interact with the blockchain.

TVM uses the concept of energy, that is, unlike ethereum that uses gas, energy is supplied here by the freezing of tokens.

So for every operation on the blockchain, energy is used which is then recharged in 24 hours.

Furthermore, the total amount of energy available cannot be exceeded, in which case the TVM goes into lockout by not doing any operation.

This allows you to have a platform that consumes few resources in exchange for huge performance.

In addition, the platform will allow it to be compatible with many other virtual machines from other projects in the future.

Where the tron cryptocurrency can be purchased and stored

Like all cryptocurrencies, tron can be bought or traded in many exchanges.

Among the best known we have Binance, Kucoin, Bitfinex, Huobi, etc. and many others, writing the cryptocurrency much appreciated and used by the community.

In addition, there is a decentralized exchange inside which was formerly called TRXmarket and then after the acquisition of the Poloniex exchange, is now called Poloni dex.

This exchange allows the exchange of tokens of the various dapps present on the Tron blockchain, not allowing the exchange of main cryptocurrencies such as Bitcoin and Ethereum.

You can create an exchange pair in exchange for 100,000 tron tokens, as long as it is not already present.

There is also the USDT stablecoin on Tron’s DEX which has been perfectly integrated with the blockchain in an ERC-10 type token.
 
The cryptocurrency tron can be stored in various wallets as it is highly supported by various projects.
 
One of these is the web wallet tron where, in addition to staking tokens, it is also possible to check the network information.
 

There is also a version for the broswer which is called tron link and tronpay for Crome, it is connected with the web wallet.

Then there are other wallets such as Huobi wallet, Trust wallet, Cobo Wallet, etc., or even hardware wallets such as Ledgernano or Trezor.

It also allows on some exchanges the possibility of staking tokens which, however, are delegated to the exchage itself which becomes a super representative.

In this case the tokens do not provide us with energy and bandwith, however we will be rewarded for each block extracted.vari progetti.

Link Utili

In order to view the official project page, I refer you to this link.

Instead if you want to view his White paper you can do it here.

Internal Dex ie Poloni dex can be reached here.

Official explorer is here.

Source code is reachable here.

Official Wallets supported are on this official page.

The Tron community:

Conclusion

Tron cryptocurrency has been demonstrating an increase in both transactions and people active on its blockchain in recent years.

In addition, thanks to many thick partnerships such as Samsung and certainly there will be others in the future, they allow tron to have more credibility.

There are many projects related to this cryptocurrency such as that of BitTorent which represents a good slice of the market.

Although there are many projects, Tron represents the best of those projects and there will certainly be a place in this sector.

Leave a comment

Solve : *
22 − 21 =