What Is Tron (TRX) ?
In accordance with the ideology of “Decentralize the Web,” TRON is a powerful blockchain ecosystem that has been established and maintained by blockchain developers from all around the globe.
There are several different types of products that are part of the TRON ecosystem, including a public blockchain, a wallet client, and decentralized apps (DAPPs).
These goods are intricately linked to one another, and when taken as a whole, they contribute to the overall stability of the ecosystem.
The TRON Public Chain
Background on the TPC
The public chain is a decentralized blockchain network built on the TRON protocol that serves as the backbone of the TRON ecosystem. It was introduced on June 25th, 2018, and is still in beta.
Many activities may be accomplished via the public chain, including the issuance of token assets, the deployment and operation of DAPPs, the stake and vote for gains, the transfer of assets, and so on.
The public chain is one of the most secure public chain systems available at the time of this writing. Due to its decentralized network setting, in which data production and storage are not dependent on particular persons or groups, and since encryption is used to guarantee that the data is never modified, blockchain technology stands out among other technologies.
Because of its well-designed architecture and code, the TRON public chain offers higher operating efficiency and stability than the majority of other public chains.
TRON ecosystem has set itself a 10-year roadmap in the original TRON whitepaper:
- Exudos 2017.8~2018.12
- Odyssey 2019.1~2020.6
- Great Voyage 2020.7~2021.7
- Apollo 2021.8~2023.3
- Star Trek 2023.4~2025.9
- Eternity 2025.4~2027.9
The design for the top-level of the system and protocols of the public chain was made in Exudos.
Odyssey is an essential stage of the large-scale practical development of the TRON public chain. There are some key versions, including:
- The public chain (test net version) Odyssey-v1.0
- The public chain (main net version) Odyssey-v2.0
- The Virtual Machine(TVM), making Ethereum smart contracts fully compatible Odyssey-v3.0
- In-memory database for accessing TRON public data Odyssey-v3.2
- Supporting multi-signature and account authority management Odyssey-v3.5
- Adding RocksDB as a new underlying data engine Odyssey-v3.5.1
- New decentralized incentive mechanism Odyssey-v3.6.5
- New consensus mechanism TPosGreat Voyage-v4.0
The development of TRON public chain has reached the stage of the Great Voyage.
The idea of extremely abstract modularisation is realized via the use of the TRON public chain.
It divides the system into multiple basic modules, which include the underlying network, data storage, consensus, transaction actuator, transaction management module, and application layer interface, among other components.
The Underlying network
The underlying network module is a collection of highly configurable and efficient message response systems that are developed on top of Netty, a high-performance network infrastructure.
Network communication and discovery are divided into two modules in the underlying network module: node communication and node discovery.
The Kademlia algorithm is used to accomplish the process of node discovery. Because of a set of node scoring mechanisms, it is capable of meeting the criteria for node discovery in decentralized network setups and defending against eclipse and witch assaults.
The data transmission protocol used by the node communication module is TCP. Accordingly, a business layer message registration response method that is versatile and extendable is devised.
Data storage module with quick rollback capability, as well as an in-memory database (KhaosDB) for fast blockchain switching have been developed by Tron’s team.
These represent the ultimate goal of improving the overall performance of the TRON public blockchain.
A database solution for the blockchain system called ChainBase, which is based on the superb interface design of the data storage module, has also been released by us.
Data engines may be switched between LevelDB and RocksDB, and bespoke data engines can be developed with simply the implementation of the necessary interface set required by the system.
The public chain is presently using DPOS as its consensus method, which allows for a maximum transaction rate of 2000 TPS.
To maximize the performance potential of the public chain, blocks are divided into two categories: solidified blocks and unsolidified blocks. Distributed systems may benefit from this approach since it reduces the limitations of the CAP theory and gives the most emphasis to data availability and consistency.
Blocks that have solidified are not reversible. The most recent transaction data is included in unsolidified blocks. Data inquiry services for both kinds of blocks are provided by full nodes, which allows them to cater to a variety of user requirements.
A fantastic on-chain governance system has been developed by ther team, which can be attributed to the implementation of the DPOS algorithm. Violating voting requests for proposals is something that Super Representatives (SRs) and Super Representative Partners (SRPs) may do. Following the vote, all votes from SRs are added together to decide whether or not a proposal is implemented.
A proposal may involve changes to blockchain specifications, the addition of new functionality, or a combination of these. Because the proposal process helps to avoid a node from being restarted repeatedly during a blockchain update, it increases performance while also serving as a route for community monitoring.
On-chain governance & incentive mechanism
The public chain generates two sorts of roles as a result of the decentralized election: Super Representative (SR) and Super Representative Partner (SRP), both of which participate in the on-chain governance of the TRON blockchain.
By initiating voting for particular ideas, an SR/SRP may guarantee that the blockchain governance is completely decentralized. Other SRs/SRPs can then express their thoughts on the proposals by voting, ensuring that the blockchain governance is completely decentralized.
In addition, the public chain is equipped with a precise and effective incentive structure that may help the blockchain achieve self-sufficiency. Packing transactions, creating blocks, and acquiring block production incentives are all powers that SRs have at their disposal.
The votes that SRs and SR partners get result in prizes for them, and regular voters may earn stake rewards for voting for SRs and SRPs, as well. The amount of the reward is visible, and the mechanism of distributing it is completely decentralized as well.
A problem that has existed throughout the history of public blockchains is the double spend assault, which must be dealt with in the strictest possible manner.
TRON has the TaPos mechanism in place to guard against this kind of attack, which increases the overall security of the TRON public chain.
TRC10 token support
The TRC10 token, which is based on system contracts and can be created easily on the TRON public chain, is a cryptocurrency.
Due to the fact that system contract transactions utilize just bandwidth, the TRC10 standard greatly lowers the cost of token circulation.
Transactions using TRC10 tokens may be completed on the decentralized exchange that has been constructed on the TRON public chain.
TVM and smart contracts
Because of the way the Virtual Machine(TVM) is constructed in the TRON public chain, it is completely compatible with the Ethereum Virtual Machine (EVM) (EVM).
Not only does TVM minimize the learning cost for developers as a result of the inherent benefit of the DPOS consensus algorithm of the TRON public chain, but it also increases operational efficiency and lowers the cost of operation.
Several modifications have been done to TVM in order to lower the expense of the operating costs of DAPPs.
In addition, they are developing a slew of additional features to enable smart contracts to accommodate more business logic, such as batch signature verification, contract address judgment, and so on.
The public chain has an excellent resource model. They have designed a dynamic adjustment mechanism for resource model parameters, which is useful for feedback regulation.
The brief explanation of this mechanism is the number of processing transactions is positively correlated with the resource fee.
Every user has a certain amount of free resource quota.
Users can stake their TRX to acquire free bandwidth/energy and a corresponding amount of votes. Voting for SRs will be rewarded base on the voting volume.
Core applications in TRON ecosystem
The public chain is a large-scale distributed operating system with tens of thousands of nodes in operation and terminals located all over the globe.
TRON is a cryptocurrency that operates on a global scale. The strength of the TRON public chain cannot be separated from the support of application software, much as Office cannot be isolated from Microsoft, and the health of the ecosystem depends on the cooperation of community developers.
Wallet-Cli is the official wallet client of the Foundation, which is updated on a regular basis.
Wallet-Cli is a command-line version of the wallet that offers necessary tools for communicating with the public chain through the RPC protocol and supports all of the public chain’s functionalities in real time.
Wallet-Cli is also a fantastic code implementation for showing developers the interactive mode between clients and the blockchain via the use of code examples.
Dedicated to offering users with comprehensive capabilities, a comfortable experience, safe financing choices, and the greatest number of applications possible, TronLink is a world-class TRON wallet.
tronscan.org is the world’s first blockchain explorer built on the TRON blockchain.
Transcan.org provides all of the fundamental functionalities of a blockchain explorer, including searching for transactions, accounts, blocks, nodes, and smart contracts, as well as on-chain statistics and token generation, among other things.
Tronscan.org also has a built-in online wallet and a decentralized exchange (DEX) based on the Bancor protocol, which both contribute to the overall application matrix of Tronscan.
Because of its excellent performance, safety, and cheap cost, the TRON public chain has attracted tens of thousands of community developers to participate in the creation, deployment, and operation of decentralized applications (DAPPs) on the blockchain.
Tron has always adhered to the notion of “haste produces waste” from the beginning of the ecosystem’s construction two years ago, and They want to continue doing so. They accomplished a great deal, as they can see in the past.
Their primary public chain product, “java-tron,” continues to operate in a stable manner at this time. Another key component of the TRON ecosystem today is the plethora of amazing products and concepts like as wallet clients, blockchain explorers, side chains based on the Sun network, other types of DAPPs, and their excellent community developers.
They want to stick to the value idea of “decentralized the web” in the future and to continue working in the following areas:
- Cross-chain based on the public chain
- Full support for shielded transactions
- A safer and faster TVM
- Integrate with other products like BTFS, bring more application scenarios to DAPPs
- Exploration in DeFi area
First, 100 billion TRX were distributed. Investors in private sales received 15.75 billion TRX, while investors in initial coin offerings (ICOs) received 40 billion TRX.
The Tron Foundation got more than 34 billion TRX, while Justin Sun’s firm, Peiwo Huanle (Beijing) Technology Co, earned a total of 10 billion TRX. The Tron Foundation received more than 34 billion TRX.
After originally being free of lock-up limitations, the Tron Foundation eventually decided to lock up its entire assets until January 1, 2020, which coincided with the launch of the Tron Mainnet, which took place on June 25, 2018.
In addition, it executed a 1 billion TRX burn to commemorate the debut of the Mainnet on the Ethereum blockchain. This was billed as “Independence Day” advertising.