Tron (cryptocurrency)

Tron (cryptocurrency)

TRON is a decentralized, open-source blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX).

It was originally an Ethereum-based ERC-20 token, which switched its protocol to its own blockchain in 2018.

History

Also The TRON Foundation raised $70 million in 2017 through an initial coin

offering shortly before China outlawed the digital tokens. The testnet, Blockchain Explorer, and Web Wallet were all launched by March 2018. Mainnet launched shortly afterward in May 2018, marking the Odyssey 2.0 release as a technical milestone for . In June 2018, switched its protocol from an ERC-20 token on top of Ethereum to an independent peer-to-peer network. On 25 July 2018, the Foundation announced it had finished the acquisition of BitTorrent, a peer-to-peer file sharing service With this, declared its independence with the creation of the Genesis block, along with July

2018 acquisition of BitTorrent. Upon this acquisition, in August 2018, BitTorrent Founder Bram Cohen also disclosed that he was leaving the company to found Chia, an alternative to bitcoin created to be a less energy-intensive cryptocurrency.

By January 2019, had a total market cap of about $1.6 billion Despite this market performance, some authors viewed as a typical case of the complex and disordered nature of cryptocurrencies.

Architecture TRON

TRON also adopts a 3-layer architecture divided into storage layer, core layer, and application layer. The TRON protocol adheres to Google protocol buffers, which intrinsically supports multi-language extension.

The TRON protocol, maintained primarily by the Foundation,

distributes computing resources equally among TRX holders with internal pricing mechanisms such as bandwidth and energy. provides a decentralized virtual machine, which can execute a program using an international network of public nodes. The network has zero transaction fees and conducts approximately 2,000 transactions per second.

The implementations of require minimal transaction fees in order to prevent malicious users from performing DDoS attacks for free.

Criticisms TRON

In January 2018, via a Tweet, Juan Benet, the CEO at Protocol Labs, revealed that the white paper of copied portions of the white papers from IPFSbot and MineFilecoin, without a single reference.

These accusations were denied by the Foundation, the organization behind the design of the system.

On 13 June 2022, Tron’s algorithmic stablecoin, USDD, lost its peg to the US Dollar.

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