That was really something! On the 1st of December, we held an AMA with Justin Sun, CEO and founder of TRON Network, moderated by Andrew, our Head of Project Relations.
Justin answered the most interesting questions from our users, so there is a lot to take in!
Enjoy the transcript of the session provided below.
Q: The TRON anniversary is coming this December. Can you reflect on the path your company has made over the years?
Justin: Yes, it has been three wonderful years of hard work and aspiring ideas. The TRON Foundation was established in July 2017 in Singapore, and we launched our open-source protocol later in December.
May 31, 2018, saw the launch of the mainnet. I am especially proud to say that the genesis block was created with the consensus of the community. However, we did not stop there: on July 24, 2018, we acquired BitTorrent, a world-famous file-sharing network. To further promote our expansion, we partnered with Tether to issue the TRC20 USDT on March 4, 2019.
On October 30, 2019, we established an official partnership with Samsung to support the TRC wallet on their devices. Finally, this year was marked by the creation of the Just network & SUN mining!
Q: TRON seems to have been working with WhiteBIT for some time now. Any further plans for upcoming integrations?
J: TRON and WhiteBIT first got in touch around a year ago. We agreed to cooperate on WhiteBIT listing TRX and the support of TRC-based USDT. This was followed by the listing of BTT and, just recently, SUN trading pairs.
We are certainly planning more things down the line. For example, the integration of TRON into the P2P platform Bitcoin Global by WhiteBIT, as well as the discussion of launching the support for TRC-20 based Bitcoin.
Q: Many people are curious about the latest 4x increase in bandwidth and energy. How is it going to benefit TRON and TRON-based projects? Could you expand on the reasons behind this decision and how it will help move the ecosystem forward?
J: In this way, more TRX will be frozen by a growing number of DApp developers, which will push up the total number of TRX staked on the network, significantly improving the inflation of TRX, as well as the security and reliability of the network.
Q: Almost a year has passed since the launch of zero-knowledge proof on TRON. What are the most significant apps that have been or will be launched using this technology? What do you think about the future of ZKP in crypto and beyond?
J: The DApp JustWrapper is created based on the characteristics of ZKP. With advanced zero-knowledge proof on TRON’s decentralized shielded network, users can anonymously trade TRC20-based USDT, providing even more security and decentralization.
With all the information regarding on-chain operation hidden, attackers could not match the on-chain info with specific individuals. It has indeed proved that ZKPs could be used to guarantee that transactions are valid despite the fact that information about the sender, the recipient, and other transaction details remain hidden. I think this characteristic will be commonly used in the crypto industry, and I am proud to say we are among those who are already using it.
Q: What is the place of SUN token in the ecosystem? How does it integrate with your other products?
J: SUN token is one of the latest additions to our ecosystem. It is a social experiment dedicated to the development of TRON’s DeFi ecosystem. Designed as the quintessential Bitcoin equivalent on TRON, SUN features such things as zero VC investments, zero PE investments, no pre-mining or reserve for the team, and is fully operated by the community through its open-source smart contracts.
SUN is a TRC20-based crypto asset with a total supply of 19900730. We hope to leverage SUN to promote the vigorous development of TRON’s self-governing DeFi community.
Q: Would you tell us a story from your dinner with Warren Buffet?
J: I gifted Warren Buffett his first Bitcoin! This lucky Bitcoin is safely stored in his Samsung Galaxy Fold. Since I gave him this Bitcoin, BTC has increased by 16%! I also brought Mr. Buffett 2 Galaxy Fold with TRON built-in. WarrenBuffett has officially been a TRX owner since then! I gifted him 1,930,830 TRX equivalent to his birthday! Mr. Buffett joked he wished he had been born later so that he could have more!
Q: What are your plans moving forward? Will you be focusing more on improving the TRON blockchain and adding new features or releasing more products and tokens for everyday use?
J: We will be mostly focusing on improving the TRON DeFi and adding new features. In choosing which features to add, we will, of course, be watching the latest trends.
TRON’s focus for the near future will be on DeFi and stablecoin development. Now you could say we are in a DeFi heat. This proves that my judgment on the market is right. And now I firmly believe the next peak of DeFi will be driven by TRON because we own the most powerful DeFi project JUST (JST). And it is not just us. There is a growing interest in JUST from the community and the market.
Now we have Juststable, focusing on TRX lending; Justswap, focusing on swaps between TRC20 tokens; and JustLink, which is a decentralized oracle project running on the TRON network.
Q: What role do you think TRON will play in the future development of cross-chain solutions? What will keep making TRON competitive?
J: We have partnered and completed integration with Band Protocol to bring secure and verified decentralized oracles to power its rapidly growing DeFi and decentralized application space, and create Cross-Chain Oracle Solution.
Here is just a couple of our notable partnerships: one with Waves using Gravity to connect smart contract languages of their respective blockchains: Ride and Solidity; another is with BitGo to bring integral cross-chain solutions, such as Wrapped Bitcoin (WBTC) and Wrapped Ether to TRON. I would see TRON as a pioneer in future developments.
Besides, I would highlight the three most important features, making TRON competitive in the market:
- High throughput. It is achieved by improving the TPS in TRON, which has surpassed Bitcoin and Ethereum, to a daily-use practical degree;
- High scalability. Applications are given a wider variety of ways to be deployed in TRON because of its scalability and highly effective smart contract. It can support enormous numbers of users.
- High availability. More reliable network structure, user asset, intrinsic value, and a higher degree of decentralization consensus come with an improved rewards distribution mechanism.
Thanks for your questions, and get ready for more cool things coming!
