Introduction
Decentralise the web! This is the Tron protocol’s slogan. You might be wondering what it means or why they would choose such a slogan, well the reason is that at the moment the web or internet is being controlled by the likes of Meta (Facebook), Amazon and Google. These companies have access to all our data and choose what to do with it making them rich and everybody else is left with nothing.
Now what Tronis claiming it will and can do is to decentralise this system so that every user is in control of their own data and choose what they please to do with it. So, in this article we will be having a look at the Tron Protocol and answering questions such as “what is Tron?”, “how does Tron work?”, “what makes Tron unique?”, “what is Tron’s history?” and many more.
What Is Tron (TRX)?
Tron (TRX) is a decentralised blockchain platform, that is open-source and can be used to build dApps. It also supports smart contracts. Tron was originally launched as an ERC20 token on the Ethereum blockchain but later moved to its own blockchain, and so it is very similar to Ethereum. The native token of the Tron blockchain is Tronix or TRX.
Tron has the ability to do 2000 transactions in a second and has a proof of stake consensus mechanism. Super representatives (SRs) are elected by Tron users to verify their trades and also earn a fee for their service. For Tron analysis (تحلیل ارز ترون) visit this link.
A Brief History of Tron
The first question that comes to mind when learning about Tron is “who invented Tron?”, the answer is, Justin Sun. He was Ripple’s former representative in China and founded Tron in March 2014, known as Raybo back then.
In July 2017, Tron Foundation was established in Singapore and in December of the same year Tron launched its own blockchain and moved there.
Then, Tron launches a test net for itself and a web wallet in March 2018. Its main net is then launched in May and first genesis block was created in June 2018. In the same year BitTorrent (a peer to peer file sharing service) is acquired by the Tron Foundation.
In March 2019, Tether and Tron partner so they can provide USDT as a TRC20 token.
In July 2021, Tron changes its structure to Tron DAO, in November it launches a fund worth $1.1 billion to expand its ecosystem. And in December Sun bows out as CEO and give control to Tron DAO.
As of May 2022, Tron has announced its plan to launch USDD a stablecoin of its own.
Tron Protocol Features
Here are a few of Tron’s special features:
1)High-throughput: This feature of Tron makes it a great alternative to Bitcoin or Ethereum for daily use.
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2)High-scalability: The high-scalability of Tron makes it available for more and more users to use at once.
3)High-availability: This shows, Tron has more intrinsic value, reliable structure and user assets.
How Does Tron Work?
Core layer, storage layer, and application layer are the three layers that Tron has been built on, which we will be explaining below:
·Core layer: This layer does the essential job on the blockchain which means it validates transactions, reads smart contracts and manages accounts. The smart contract language it uses is the same as the one which was developed for Ethereum, Solidity.
·Storage layer: The duty of this layer is to handle difficult data storage and is divided in to state storage and blockchain storage.
·Application layer: Developers use this layer to create dApps and modify wallets.
What Makes Tron Unique?
Tron’s mission statement is “to create an internet for all, defining decentralisation” and it has also been said that its mission is to “heal the internet”. So here are four ways Tron believes that they could do this:
1)Is to let information and data go freely from one place to the other, with no censorship.
2)Users will have control over their content and will be able to track it when or if it spreads.
3)Anyone will be permitted to raise or distribute digital assets.
4)And lastly make it available for use as a platform for games or other complicated assets.
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Conclusion
In conclusion Tron is a working to make it the core of decentralised applications and is growing its ecosystem so that it can support more than just smart contracts, one of them being its stablecoin USDD. And also, maybe the most outstanding difference it has to other networks is the fact that it is trying to make the internet decentralised.
