The Blockchains, Pt.11: The TRON Blockchain

TRON is one of the latest main blockchain and cryptocurrency projects of the World and is definitely worth getting familiar with. In this article, we will examine the most important points about a top 10 blockchain, which is aimed at decentralizing the web and taking the World to Web 3.0.

Launched in September 2017 by Singapore based non-profit Tron Foundation, Tron is a blockchain platform created for the purpose of free peer-to-peer sharing and distributed storage of digital content, with no intermediaries involved. Tron Foundation is lead by Justin Sun, a renown blockchain industry expert.

TRON’s pre-mined cryptocurrency is called Tronix (TRX). Initially, it operated on Ethereum but in May 2018 migrated to its own public blockchain with the main net called Odyssey 2.0. This blockchain operates over TRON Virtual Machine (TVM), which is similar to Ethereum Virtual Machine.

As TRX is pre-mined, there is no way to mine it. However, users can still earn rewards by staking tokens and validation of transactions. TRON uses the Delegated Proof Of Stake consensus algorithm, which implies that staking is done by a number of trusted nodes on the network.

TRON aims to enable developers all over the planet with an easy to use, solid, safe and scalable blockchain system. TVM Bandwidth to prevent network congestion. A good example of network congestion is the incident involving the famous Ethereum-based crypto-collectables game called Crypto Kitties, which has caused significant delays in Ethereum transactions in November 2017.

In order to avoid such situations, TRON allows all of its accounts a free pool of Bandwidth Points. These points are used for free transactions once in 24 hours. Users that need to process transactions more often have to lock their TRX or pay a fee in TRX.

Emirex supports all the major blockchains, including TRON.