What is Tron?
HISTORY OF TRON
TRON (TRX) is a blockchain platform that was launched with the goal of becoming the foundation for a decentralized entertainment ecosystem. This project was started by a young man named Justin Sun at the age of 26 in 2017, the year in which he founded a non-profit organization based in Singapore under the name of the TRON Foundation. But, it wasn’t until June of the following year that it was shown on the main Tron network. Today the organization is led by Sun as CEO.
From the beginning, Sun’s goal has been to facilitate the development of applications that will be integrated into the TRON network. To achieve this, TRON was designed to facilitate that transition and thus quickly attract developers. All of this was done in order to speed up the creation of new DApps that would compete directly with the Ethereum network.
With all this at stake, TRON seeks to become a network that allows content creators to have a close and close relationship with their consumers. All this done without any kind of intermediary and forming part of a common economic ecosystem under the TRX currency (TRC-10). In turn, making interaction within the ecosystem even simpler.
Is the foundation legally recognized?
Justin Sun and the TRON Foundation (the nonprofit behind the project) have been charged multiple times with breaking the law.
In this case, the plaintiff accuses the company of illegally violating federal and state securities laws while selling TRON securities in the United States.
Despite the accusation, TRON is still legal in multiple jurisdictions anyway. In various courts around the world, including the United States and the United Kingdom, they have decided that cryptocurrencies are commodities.
TRON ECONOMY
This cryptocurrency can be used as a store of value, as an investment or to be exchanged for other currencies. As such, it could be considered “real money”. Although the main use of this currency is in its network with the creation and interaction of DApps.
Also if you wish you can deposit the coin to obtain a reward known as “Tron Power”. This gives the holder the right to vote on the decisions of the network and also gives him a higher status. The longer the holder keeps his coins deposited, the more TP he will receive in return.
HOW TRON WORKS
How does it Work
The technology that TRON offers us guarantees us an unparalleled decentralization. It has an architecture that is designed in modularity, with perfectly defined layers and functionalities separated from one another. TRON is divided into 3 layers, those are:
-First Layer: Application Layer.
Each of these layers can be accessed through the use of APIs in different programming languages. TRON official support includes Java, Python, C ++, Scala and Go. This means that it targets a vast world of programmers. That also means that programming in TRON is relatively simple and its functionality is easily accessible.
In this way, TRON has managed to experience an unprecedented expansion in the world of blockchain.
-Second Layer: Storage Layer.
On the contrary, TRON also comes across a fairly advanced distributed storage system. For the development of this layer, LevelDB software was chosen, a solution that was designed by Google. LevelDB is designed to offer end-to-end distributed storage capabilities with a high level of integration. Resulting in TRON being able to store information in a distributed way to be able to integrate it perfectly within its DApps and in its chain of blocks (blockchain). To keep the bandwidth impact between the information transmissions of each node to a minimum, use is made of the Snappy compression system.
Third Layer: Core Layer.
TRON’s Core layer has several advanced features powered by its TVM (Tron Virtual Machine). Likewise, TRON guarantees us an unprecedented level of scalability that places it over 2,000 transactions per second. A brand that few decentralized blockchains can boast of. The programming language used for TVM and the handling of smart contracts is Solidity. In this way, it seeks to facilitate the transition of DApss from Ethereum to TRON.
Addresses
A TRON (TRX) address is a form of unique identification for each user that is used to make exchanges (either send or receive) cryptocurrencies quickly and easily.
In the world of cryptocurrencies, the address works in the same way as in the traditional financial system, whether it is to send or receive money transfers. Which is to say, it works like a kind of bank account.
Transactions
An exchange with TRON is simply a transfer of value between two wallets, which is registered in the blockchain (chain of blocks).
To send money from a wallet, the emissary must sign the transaction with his private key to prove that he is the owner of the funds.
How is it Obtained?
As all TRX coins are already in stock, new ones cannot be mined. TRON relies entirely on a Delegated Proof of Stake (DPOS) algorithm that requires stakes to keep the network secure. Unlike POS (Proof of Stake), where any user can contribute their help, in this mechanism (Delegated Proof of Stake), only a few trusted servants have the opportunity to mine at any given time.
Privacy
Each transaction is recorded in a public “book” called the chain of blocks (blockchain), this allows to investigate the history of a cryptocurrency in order to avoid theft, false copies or undo transactions.
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