Things You Need To Know About Tron Blockchain

TRON is a decentralized platform built on the blockchain that aims to decentralize the internet. Its native cryptocurrency is TRX, and Justin Sun launched it in 2017. Tron has emerged as one of the most aggressive DAPP (Decentralized Application) public blockchains, set to compete with the market’s ERC20 currencies.

The Tron Foundation raised $70 million in an initial coin offering in 2017, just before China banned digital currencies. In March 2018, the testnet, Blockchain Explorer, and Web Wallet were all released.

Tron Mainnet was launched in May 2018, marking the Odyssey 2.0 release as a technical milestone for TRON. In June 2018, Tron switched its protocol from an ERC-20 token of Ethereum to an independent peer-to-peer network.

In recent years, the Tron network has grown tremendously, with over 176 million members on the blockchain and upwards of 6.2 billion transactions. Furthermore, Tron has the world’s largest stablecoin circulating supply, surpassing USDT on Ethereum in April 2021. The TRON network achieved full decentralization and became a community-governed DAO in December 2021.

TRON can process up to 2,000 transactions per second, which is much faster than other blockchains like Bitcoin or Ethereum. This makes it ideal for applications that need to handle a large number of transactions, such as streaming video or gaming. Tron’s collaborations with gaming titans like BitGuild and Game.com have strengthened its standing in the gaming arena.

Organizations like Travala, Coinsbee, APENFT, JustSwap, Tronstore, BitTorrent, Just Foundation, and Tron Dao these are just a few of the businesses that accept Tron, as the Tron Blockchain continues to grow, more and more businesses are likely to accept Tron as a payment method.

Blockchain Details-

• Name- Tron
• Blockchain Type- Decentralized, Blockchain-Based Operating System With smart contract functionality
• Native currency- Tronix(TRX)
• Consensus Algorithm- Delegated Proof-of-Stake(DPoS)
• Transaction speed- Upto 2,000 transactions per second(TPS)
• Transaction fees- Very low
• Scalability- High
• Use Cases- Content Distribution, Gaming, dApps, DeFi

Products-

• TronLink- A web3 wallet that allows users to store, send, and receive TRX and other tokens.
• TronGrid- A development platform that provides tools and resources for developers to build dApps on the Tron blockchain.
• TronScan- A block explorer that allows users to view the transactions and blocks on the Tron blockchain.
• Dlive- A live streaming platform that allows users to earn money by broadcasting their content.
• WINK- A casino-based platform that offers a variety of gambling games.

Top 10 Tron projects in 2023-

• JustSwap
• Wink
• Kraftly
• Luminous
• Unifi Protocol
• Sun Token
• BTT
• APENFT
• Tron Arcade
• Tron Spark

TRX Analysis

TRON(TRX) was first released to the public on May 31, 2019. It was initially an ERC-20 token on the Ethereum Blockchain, but it migrated to its blockchain in July 2018.

During the bull run 2017–2018, the performance of TRX was very strong. The price of TRX surged from around $0.001 in January 2017 to a peak of $0.30 on December 2017, representing a gain of over 30,000%.

In the 2021 bull run, TRX again showed some impressive growth, reaching a high of $0.0974. However, this bull run was also short-lived, and TRX once again crashed along with the rest of the market.

TRX Price Analysis

Image Source- CoinPedia

• TRON (TRX) is currently trading at $0.077567 with a 24-hour trading volume of $202,628,480.87. This reflects a 1.35% gain in the previous 24 hours and a -7.19% decrease in the last seven days.
• TRX has a market worth of $6,948,324,609 and a circulating supply of 90 billion.
• TRON was purchased for the highest price ever on January 5th, 2018, at $0.3.
• On November 12, 2017, the lowest price paid for TRX was $0.00180434. In comparison, the current price is 4,207.54% greater than the all-time low.
• The RSI of Tron is 54, this means that the asset is currently in a neutral condition.

TRX Price Prediction For 2023-

• CoinPedia — $0.0762(Low) and $0.1475(High)
• Bitnation — $0.093117(Low) and $0.139755(High)
• BitcoinWisdom- $0.093218(Low) and $0.116521(High)
• AMBCrypto- $0.062(Low) and $0.093(High)

Team Members-

• Justin Sun- TRON’s founder and CEO. Sun has been a serial entrepreneur and investor in the blockchain business since 2013. In addition, he is the creator of BitTorrent, the world’s largest peer-to-peer file-sharing network.
• Lawrence Lin — TRON’s Chief Operating Officer. Lin is a seasoned technology executive with over 20 years of software industry expertise. He formerly served as the CEO of BitTorrent Inc. and as the COO of Alibaba Group.
• Sunny Lu — TRON’s Chief Technical Officer. Lu is a world-renowned blockchain expert with over ten years of industry expertise. He was previously the CTO of Alibaba Group and the Alipay team’s creator.
• BitTorrent Inc — BitTorrent is a TRON subsidiary dedicated to the creation and upkeep of the BitTorrent protocol. With over 100 million active users, BitTorrent is the world’s largest peer-to-peer file-sharing network

Tron has made significant progress in 2023, with some key milestones achieved-

• Surpassed 6 billion transactions- Tron exceeded 6 billion transactions in June 2023, making it one of the world’s most active blockchains.
• Reached 164.8 million total user accounts- Tron has around 164.8 million total user accounts as of June 2023, making it one of the most popular blockchain platforms.
• Over $12.3 billion in Total Value Locked (TVL)-Tron’s Total Value Locked (TVL) has topped $12.3 billion, elevating it to the ranks of the most valuable blockchain platforms.
• Launched the Tron DAO In March 2023- Tron established the Tron DAO, a decentralized autonomous organization in charge of the Tron blockchain.
• Partnered with major companies- Tron has collaborated with large corporations such as Opera, BitTorrent, and Baidu, which has aided in its adoption.
• Launched new products and services- In 2023, Tron introduced several new products and services, including the Tron NFT Marketplace, Tron Arcade, and Tron Academy.

Advantages of TRON-

• High throughput: TRON’s network can handle up to 2,000 transactions per second, which is far faster than other prominent blockchains such as Bitcoin and Ethereum. This makes it perfect for high-volume transaction-intensive applications like gaming and streaming.
• Low transaction fees: TRON transactions are extremely cheap, with a base charge of just 0.000005 TRX. As a result, it is a low-cost platform for both consumers and developers.
• Scalability: The TRON blockchain is meant to be scalable, allowing it to manage the growing demand for decentralized applications.
• Security: A Proof-of-Stake consensus procedure, which is more secure than Proof-of-Work, protects the TRON network.
• Interoperability: The TRON blockchain is compatible with other blockchains, allowing for the development of cross-chain applications.

Future Technical Events-

• TRON 4.0 — This major upgrade is scheduled to be released in Q4 2023. It will include many new features, such as a new consensus algorithm, improved scalability, and support for smart contracts.
• TRON DAO Reserve — This new entity is designed to help stabilize the price of TRX. It will be funded by a portion of the Tron Foundation’s reserves and will be able to buy and sell TRX on the open market.
• TRON DEX- This decentralized exchange is scheduled to be launched in Q1 2024. It will allow users to trade TRX and other cryptocurrencies without the need for a centralized exchange.

Recent Technical Events-

• Tron Becomes the National Blockchain of Dominica- Dominica’s government stated on July 1, 2023, that it has signed into an arrangement with Tron to become its national blockchain infrastructure. Tron is the first blockchain to be designated as a sovereign state’s national blockchain.
• Tron Raises $100 Million for its USDD Stablecoin-Tron stated on July 15, 2023, that it had raised $100 million in investment for its USDD stablecoin. Sequoia Capital China led the investment round, with participation from some other investors.
• Tron Launches the Tron Accelerator Program- Tron introduced the Tron Accelerator Program on July 22, 2023, a new program to foster and promote the development of DApps on the Tron network. The program will support promising DApp projects with financing, mentorship, and other resources.

Conclusion-

Finally, Tron is a light of empowerment and innovation in the world of decentralized currency. Tron is positioned to alter industries and disrupt the existing quo because of a visionary foundation, solid collaborations, and a passionate community. Tron’s influence is likely to rise tremendously as the world embraces the potential of blockchain technology, heralding a new era of decentralized possibilities for content sharing, gaming, and beyond. Tron’s adventure has only just begun, and the future seems promising for this groundbreaking digital platform.