TRON (TRX)

Last updated 12/06/2021

Introduction to TRON (TRX)

TRON (TRX) is a blockchain platform that was launched as the foundation for a decentralised entertainment system. Created by ‘crypto whiz kid’ Justin Sun, TRON focuses on changing the way we consume digital content, by expanding the market and making it decentralised. They do this using peer-to-peer (P2P) network technology, making it easier to create and consume without the middleman. The TRON mainnet launched in June 2018 and has since expanded to become a blockchain-based OS. TRON (TRX) is the native token of the TRON blockchain.

Adoption of blockchain technology is limited in part because of the difficulty many developers face in learning to build from scratch on entirely new protocols. TRON is designed to ease this transition and therefore accelerate the adoption of the decentralisation of existing platforms and creation of new dApps.

Team

Justin Sun is the main person who started TRON. After previously founding Peiwo, one of the largest streaming apps throughout China, he then began working at Ripple as the Chief Representative. He started his senior education at Peking University and eventually got chosen by Jack Ma to study at Hupan University, being the only Millennial on the course. Along with Sun, there is a team of well-experienced mentors who help support the development of the company, including notable names such as Tim Berners-Lee and Feng Li. TRON have many employees made up of experienced blockchain enthusiasts with great expertise, helping with the development of the company and the token. In the beginning Sun used a lot of Ethereum’s coding, as well as different parts of alternative white-papers from start-up's to eventually write his own.

Roadmap

TRON was first established in March 2014 and in July 2017, the TRON Foundation was established in Singapore. TRON then launched its open-source protocol in December 2017 and soon after on May 31st 2018, TRON launched MainNet Odyssey 2.0 – a technical milestone for TRON. On June 25th 2018, the Genesis block was created with the consensus of the TRON community. This is when they migrated all the TRONIX (TRX) tokens that had previously been circulating on the Ethereum blockchain (ERC-20) to the TRON Network and this event has been referred to as ‘TRON Independence Day’.

Not long after on July 24th 2018, TRON acquired all of BitTorrent and its products and incorporated them into TRON’s ecosystem. The TRON Virtual Machine (TVM) was created in August 2018 and the TRON Decentralised Application store ‘DappHouse’ was launched soon after in October. TRON continued to grow and on March 4th, 2019, Tether partnered with TRON to create the stablecoin TRC20-USDT. TRON further scaled and implemented the SUN Network V1.0 (DAppChain) Mainnet in May 2019, the BTFS Mainnet was launched in October 2019 where TRON also established an official partnership with Samsung.

TRON’s partnership with Samsung completed the integration with the Samsung Blockchain Keystore. TRX is now supported by Samsung’s built-in blockchain wallet and TRON becomes the first made-in-China blockchain supported by Samsung. Since May 13th 2020, TRON dApps have been listed on the frontpage of the Samsung Galaxy Store.

TRON had a planned roadmap as follows:

Stage 1: Exodus – This stage was set to last until December 2018, solving the problem where the personal data of internet users was not used by big tech companies, but decided on their own terms. Justin Sun set out on creating a safe space where all data is valued. TRON’s decentralised nature should help users to share and store their data safely.

Stage 2: Odyssey – Odyssey was the next stage in which TRON hope to lower all their fees, as well as the royalties taken by third parties. In other words, they are looking for ‘content empowerment’. Along with this main goal, they will develop a suitable payment system for the project. TRON will also finish typical updates, upgrades and add new features.

Stage 3: Great Voyage – Planned to begin in June 2020, the TRX platform will hopefully be developed enough by this point to make it possible to be able to control dividends and income. This should allow TRON to include the management of supporters.

Stage 4: Apollo – By this time TRON hope to have the platform working like the Ethereum Network, able to launch ICO’s, tokens, dApps etc. Hopefully, these would be used by some of the users. The team at TRON have the concern of cuber attacks and/or hacks, so are looking to make their eco-system ‘hack proof’. TRON will be working on developing different protocols enabling them to cover any troubling scenarios, to prevent attacks and bugs in the network.

Stage 5: Star Trek – Given that TRON (TRX) was launched as a gaming coin, the TRON Network should start to begin the process of taking over the functions of a gaming platform in this stage. TRX gamers should hopefully be able to receive the benefits of rewards and achievements through the perks of a decentralised system.

Stage 6: Eternity – Scheduled to finish in 2037, Eternity is smartly named as such because the TRON project should have completed all their main objectives, updates and upgrades leaving a completely functional decentralised blockchain-based gaming platform. TRON’s aim is to be the biggest decentralised gaming platform in the world by 2037, but preferably doing so before.

Further information about TRON and their plans can be found here.

Decentralising the Internet

TRON are pushing for blockchain-based decentralised platforms. This is to allow peer-to-peer (P2P) networks, for a free, global digital content entertainment system. Allowing for easy and a more cost-effective sharing of digital content. Peer-to-peer (P2P) enables a bridge between content creators and their consumers; eliminating any middlemen looking to put their hands in people’s pockets. This allows a cost reduction for the consumer, plus the content producer receiving their payments directly. This process is to address the significant issue of a few, very powerful corporations like Google, Facebook, Netflix and such from controlling the internet and its content.

Speed and Efficiency

After officially migrating from the Ethereum blockchain and the acquisition of BitTorrent. TRON’s new blockchain was able to achieve 2000 transactions per second (TPS). TRON was able to reach this TPS by using a new Delegated Proof-of-Stake (DPoS) protocol. This consensus mechanism is known as TPOS (TRON Proof of Stake). The reason for these speeds is because there are a smaller number of nodes, and a smaller number of nodes on a blockchain-based operating system will allow quicker transaction confirmations and a higher throughput. Other networks like Ethereum’s Proof-of-Stake consensus mechanism require more than 13,000 active nodes to verify each transaction before confirmation.

Where to Store TRON (TRX)

You can find all the wallets compatible with TRON on their website here. You can find Mobile, Desktop, Hardware and Paper wallets from different providers all featured on the site. Some of these wallets are unofficial and developed by the community to improve and provide services on the open-source network so, as always, we recommend that you perform your due diligence and research into any platform you are looking to use.

If you are new to the crypto space and are looking to Buy TRON (TRX), Exodus is a good wallet to consider and you may find more information regarding this here.

Where to Buy and Sell TRON (TRX)

You can Buy & Sell TRON (TRX) here at BC Bitcoin.

You can Buy TRX by heading over to the Buy Coins page of our website. TRX is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying TRX has never been easier, simply place your order and provide your wallet address. Once your payment arrives, TRX will be sent directly to your wallet.

If you choose to Sell TRON (TRX), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Conclusion

TRON (TRX) has solidified itself in the top 15 coins by market capitalisation. They have a very detailed plan for the near and late future with some big goals they want to achieve. As one of the only cryptocurrencies aimed at providing a platform for content distribution, this helps set them aside from a lot of the other cryptocurrencies. Designing and planning for a decentralisation of the internet, and not just an exchange of currency, is an attempt to deprive the middleman from taking fees. They are also one of the few cryptocurrencies with well-established plans of moving into the gaming industry, which is a great idea as this is an industry which seems to be forever growing. This along with a faster transaction speed per second and a well-established roadmap should mean TRON will do well in the foreseeable future.

TRON (TRX) Resources

TRON Website: https://tron.network/

TRON Explorer: https://tronscan.org/

TRON Github: https://github.com/tronprotocol

TRON Whitepaper: https://tron.network/static/doc/white_paper_v_2_0.pdf

Twitter: https://twitter.com/tronfoundation

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.