What Is TRON (TRX)?

TRON (TRX) is a decentralized platform based on the TRON protocol. According to the whitepaper, the TRON protocol is one of the largest blockchain-based operating systems that aims to offer blockchain support with high throughput. Besides, the protocol also seeks to provide high scalability and high availability for the DApps in the TRON ecosystem. TRON's decentralized blockchain can be used for a variety of tasks, including token asset issuing, DApp deployment, asset transferring, staking, and voting for gains. 

In addition, the TRON platform aims to build an ecosystem that everyone can participate in and benefit from. Users can reduce cost and enjoy convenience using different DApp functions deployed in TRON. The website states that the TRON blockchain network is considered one of the more secure public chain systems at present. The blockchain is secure because it operates in a decentralized network setting in which data production and storage are not reliant on specific individuals or groups, and data integrity is guaranteed by cryptography.

Some of the core applications that the TRON ecosystem aims to provide include:

• Wallet-Cli: Wallet-Cli is the official wallet client provided by the TRON foundation. Further, Wallet-Cli is a command-line version of the wallet that provides essential tools to communicate with the TRON public chain by RPC protocol. RPC protocol stands for remote procedure call, an inter-process communication technique used for point-to-point communication between software applications. Wallet-Cli supports all functions of the TRON public chain in real-time.

• TronLink: TronLink is a TRON wallet that provides users a convenient experience, complete functions, and secure funding options.

• Blockchain Explorer: The first blockchain explorer based on TRON is tronscan.org, which offers essential functions like searching transactions, accounts, blocks, nodes, smart contracts, token creation, and more.

• DApp: TRON public chain aims to attract a vast community of developers to join in the development, deployment, and running of DApps on the blockchain because of its high performance, low cost, and safety. 

Furthermore, TRON adopts a three-layer architecture divided into the core, storage, and application layers. The TRON protocol adheres to Google Protocol Buffer and intrinsically supports the multi-language extension. Another important feature that TRON aims to offer is a virtual machine (TVM), developed for TRON’s ecosystem. The TVM connects seamlessly with the development ecosystem to provide millions of global developers with a custom-built blockchain system that is convenient, stable, and secure. TVM adopts a lightweight architecture that aims to reduce resource consumption to guarantee system performance. 

TRONIX is the mainnet token of the TRON protocol issued by TRON DAO, known as TRX. TRX is an ERC-20 token based on the Ethereum blockchain. TRX connects the whole TRON ecosystem with application scenarios that power transactions and applications on the chain. The TRX application scenarios include credit card payment, TRON ATM Machine, participation in token issuance on TRON, voting rights, and more.

History of TRON (TRX)

TRON was founded in September 2017 by H.E. Justin Sun. However, TRON DAO was established in July 2017. H.E. Justin Sun completed his master’s degree in arts from the University of Pennsylvania. He is a supporter of BitTorrent and permanent representative of Grenada to the WTO.

The TRON network completed full decentralization in December 2021 and became a purely community-governed DAO. Additionally, the TRON Virtual Machine was officially launched on August 30, 2018. The whitepaper version 2.0 was launched on December 10, 2018.

How Are New TRON (TRX) Created?

The TRON consensus mechanism uses an innovative delegated proof-of-stake (DPoS) system where 27 Super Representatives (SRs) produce blocks for the network. Every six hours, the account holders of TRX who have frozen their accounts can vote for a selection of SR candidates. Voters may choose SRs depending upon projects sponsored by SRs to increase TRX adoption and rewards distributed to voters, making the system more democratized and decentralized. SRs’ accounts are regular, but their accumulation of votes allows them to produce blocks. TRON’s DPoS system offers an innovative mechanism resulting in 2,000 transactions per second. The TRON protocol network generates one block every three seconds, with each block awarding 32 TRX to Super Representatives.