TRON’s Technical Livestream — EXPLAINED SIMPLY + Easy to understand.
What we already know from Tron’s Medium Page:
- The “Beta Mainnet”, aka, Testnet will be released March 31st 2018.
We learned through stream that the official MAINNET will be released on July 1st 2018.
2. “With UTXO-based trading models, history transactions can be transparently tracked through the public ledger. UTXO boots concurrent processing capability and enhances network performance. Create the concept of transaction account that is in consistent with real-world application through abstraction based on UTXO technology.
Explained:
UTXO is nerd-talk for “unspent transaction output.” Unspent transaction outputs are important because fully validating nodes use them to figure out whether or not transactions are valid– all inputs to a transaction must be in the UTXO database for it to be valid.
If an input is not in the UTXO database, then EITHER:
the transaction is trying to double-spend some TRX that were already spent
OR
the transaction is trying to spend TRX that doesn’t exist.
3. “Achieve over 1 thousand transactions per second with PoS-based TBFT consensus mechanism which adjusts the account takers of a transaction according to the speed and delay of the block.”
EXPLAINED:
TRON will be able to handle over 1,000+ TPS(transactions per second) on their network.
For comparison:
This will make TRON’s transaction speed WAY faster than many popular cryptocoins out right now.
4. “Support ultra-low fee transfer (10e-6 TRX per transfer).”
EXPLAINED:
This is equal to 0.000001 TRX fee per transfer! Almost non-existent, however, I do believe stress testing will need to be done first to confirm these claims. Such tests should start once the Testnet is released March 31st.
NOTE: THIS IS NOT THE FEE COST FROM EXCHANGES!!!
Each exchange sets their own Deposit and Withdraw fees, this is controlled by the individual exchanges, not by TRON team.
5. “Provide a secure execution environment for smart contract byte-code with TRON virtual machine (TVM). TVM has following advantages: lightweight, fast loading, resource isolation, high scalability etc.”
EXPLAINED:
TVM is their in-house developed television dApp. It will be “decentralized and extremely fast, with little to no loading or buffering.”
6. “Support smart contracts written in programming languages such as Java. Compile them into TVM byte-code with TRON compiler for high execution performance.”
7. “ Provide common ABCI (Application BlockChain Interface) with consensus engine and Blockchain state machine loosely-coupled architecture.”
EXPLAINED:
ABCI is an interface that defines the boundary between the replication engine (the blockchain), and the state machine (the application). By using a socket protocol, they will enable a consensus engine running in one process to manage an application state running in another.
8. “Provide distributed network management and monitoring utilities. Visualize TRON operations and performance to easily track the status and potential risks.”
WHAT WE LEARNED FROM STREAM TODAY:
TRON will be using a graph database.
Reddit MarkWallenberg breaks down why this is significant:
1. Allows to store an entire network, including its structure and information (data)
2. Allows fast path-finding (search) which should allow fast processing
3. Relatively easy to update
They obviously choose this to make sure the network will be fast enough and is open to changes.
Bitcoin for example uses a simple list, which is the main reason why it is so slow (linear search difficulty). Ether is a bit better as it allows to query using key/value pairs. but fails with nested data.
What they are clearly aiming for is to allow to have real addresses (think of IP addresses or domain names) in their network that can be found quickly and that holds all the necessary data (think of a website, video or any other media) for the request in their subnets (think of a webserver).
So you should basically be able to create your own REAL coin (not just a token) within the Tronix network, using the tronix-protocol and do your own “thing” with it (think of it like your own website, but can be literally anything).
Additionally, the given architecture appears to be fork-friendly, which would be a good thing from a free software point of view.
According to this user, TRON is laying down the foundation that they will need in order to achieve their ultimate vision, a truly decentralized Internet.
For a full-depth look into TRON and the TRON vision, check out my previous articles breaking it all down, here:
TRON — (TRX) coin cryptocurrency. LITERALLY everything you need to know, all in 1 article.
TRON — TRX Coin: KILLING FUD RUMORS. A presentation of counterpoints…
Progress is continuing to be made daily, with the future looking bright!
If you are a developer, please feel free to check out TRON’s official GitHub located here: https://github.com/tronprotocol
They are inviting developers to contribute, with top contributors being rewarded for their efforts! More information on rewards to be announced in the near future!
That’s all, folks!
Till next time,
~ TwentySumCrypto
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