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Published by: 14:59, 31 May 2019

TRON project. Binance Research Review

The TRON Project is an open source blockchain designed to provide the underlying infrastructure that allows developers to create smart contracts and decentralized applications, freely publish, own and store data and other content. TRX is the main utility token of the TRON network.


tron блокчейн trx

TRON is implementing a DPoS negotiation mechanism to avoid the problems of low transaction throughput and high transaction fees among public Proof of Work (PoW) chains.

Translation of Binance Research Review - TRON (TRX). Public blockchain as infrastructure for the decentralized internet

TRON project
TRON project

Key features of the TRON network

  • TRON is committed to leveraging DPoS for high performance and scalability
  • Smart Contracts written in Solidity make it easier for Ethereum developers to transition
  • 394 apps are already running on the TRON network
  • Implemented a number of tools to help developers migrate to the TRON network
  • TronGrid provides full nodes running in the cloud; developers can have direct access to the TRON network without having to launch nodes
  • Tronlink provides wallet services for Chrome, iOS and Android extensions

The mission of the project is to be the underlying architecture for dApps and therefore create a truly decentralized internet.

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Token management and use of funds

Project TRON keeps its funds in cold rooms with multi-sig wallets. The fund's wallet can be found here.

The TRON team decided not to publicly disclose the use of funds at this stage.

TRX Token Overview and Use Cases

TRX is the main utility token of the TRON network. Here are some examples of TRX token use cases:

  • Payment for services and goods provided by service providers and sellers in the TRON network
  • Payments for fees and commissions for the execution of native smart contracts
  • Redeem for Third Party Tron Classic Network Tokens ("TRC")
  • Freezing TRX to transfer power to execute smart contracts or vote for Super Representatives
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Commercial partnerships and business development

 TRON creates a fund for blockchain games, TRON Arcade : up to $ 100 million to be invested in the project over the next 3 years, TRON aims to empower developers to create new gaming experiences and create a foundation for a robust ecosystem of blockchain games.

 Tether presents its stablecoin to the TRON blockchain : USDT has been added to TRON to improve overall value storage and increase decentralized exchange liquidity. It also aims to make blockchain more accessible to enterprise partners and institutional investors.

 MixMarvel to create a suite of games on TRON : MixMarvel, the studio behind the top-tier HyperDragons game on the blockchain, is committed to working with TRON to provide high performance and deep gameplay for gamers and blockchain enthusiasts.

 Swarm Partnership and STO Platform Integration : Swarm, a blockchain technology company that provides free tagging of dividend-paying assets, will allow asset providers with proper licensing and KYC measures to issue security tokens on the TRON blockchain.

 ABCC Exchange Partnership : TRX has become a base trading pair on the Singapore Exchange.

 TRON acquires the very first global blockchain app store, CoinPlay : CoinPlay positions itself as a blockchain app store that aims to offer the most complete, relevant and updated blockchain apps.

 Loom Network Announces TRON Integration : Loom has integrated its platform for building large-scale games and social applications with the TRON blockchain.

 ALS Association #VoiceYourLove Campaign : As part of a campaign to find a cure and treatment for people with ALS, TRON raised awareness of the cause with a $ 250,000 pledge and partnered with the ALS Association to provide a platform for greater transparency in recipient charities.

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TRADING DATA

Liquidity as of April 24, 2019, there are over 200 exchanges trading TRX trading pairs on Coinmarketcap. The most common crypto-to-crypto trading pairs include TRX/BTC, TRX/ETH, and TRX/USDT.
Key cryptocurrency trading pairs include TRX/USD and TRX/KRW.
Below is a breakdown of TRON volume by trading pairs.

tron project

TECHNICAL OVERVIEW

TRON uses a three-tier architecture, divided into base tier, storage tier, and application tier. The TRON protocol follows Google Protobuf, which essentially supports multilingual extension.

  1.  Main layer 

At the basic level, there are several modules including smart contracts, account management, and consensus. The stack-based VM is implemented in TRON and uses an optimized instruction set. To better support dApp developers, Solidity was chosen as the smart contract language, followed by future support for other advanced languages.

 2. Storage level 

TRON has developed a distributed storage protocol consisting of block storage and state storage. The concept of a graph database was introduced into the storage tier design to better meet the need for diversified data storage in the real world.

  •  Blockchain Vault : TRON Blockchain Vault chooses to use LevelDB, developed by Google and proven to be effective in many companies and projects. It supports arbitrary byte arrays such as keys and values, single get, place and delete, batch place and delete, bidirectional iterators, and simple compression using the Snappy algorithm.
  • X  state store : TRON has KhaosDB in full node memory which can store all newly forked chains generated over a period of time and supports witnesses to quickly switch from their own active chain to the new one main chain. It can also protect blockchain storage by making it more stable against crash in an intermediate state.

 3. Application Layer 

Since TRON allows smart contracts to be deployed and executed, developers can create a variety of applications and custom wallets for TRON.

blockchain

Github Overview

TRON has 41 public vaults and 20 private vaults; Currently, the team decided not to share private repos due to the fact that part of the infrastructure is in the research and development stage.

tron github TRX

BLOCKCHAIN AND NETWORK

As of April 24, 2019, the TRON network has over 1200 nodes with block heights of over 8 million. The number of transactions per day averaged about 2 million. There are also over 2.6 million TRX accounts in total. Each block accounts for about 60 transactions, with a block being generated every 3 seconds. The block reward is 32 TRX. Real-time data can be accessed here.

TRON's negotiation engine uses a delegated stake confirmation system in which 27 Super Representatives (“CPs”) create blocks for the network. Every 6 hours, TRX account holders who freeze their accounts can vote to select SR candidates, with the top 27 candidates being considered SRs. Voters can select SRs based on criteria such as SR sponsored projects to increase TRX adoption and rewards distributed to voters. CP accounts are regular accounts, but their accumulation of votes allows them to create blocks.

The TRON protocol network generates one block every three seconds, with each block awarding 32 TRX super representatives. A total of 336,384,000 TRX will be awarded annually on 27 SRs. The exact calculation will be demonstrated in the next section.

Every time SR finishes producing blocks, rewards are sent to a subaccount in the superbook. SRs can validate but cannot directly use these TRX tokens.

Withdrawals can be made by each SR once every 24 hours, transferring rewards from the sub-account to the specified SR account.

The three types of nodes in the TRON network are witness nodes, full nodes, and solidity nodes. Witness nodes are created by the SR and are mainly responsible for block production and proposal creation/voting. Full nodes provide API and broadcast transactions and blocks. Solid nodes keep blocks in sync with other full nodes and also provide indexable APIs.

Super Representative

General

Any account on the TRON network can apply and be eligible to become a Super Representative. Everyone can vote for candidates for the Board of Directors. The top 27 candidates with the most votes will become SRs with the right and responsibility to generate blocs. Votes are counted every 6 hours and SR will change accordingly. To prevent malicious attacks, it is worth becoming an SR candidate. When applying for SR status, 9.999 TRX will be burned from the applicant's account. Once the tokens are burned, such an account can join the SR election process.

Elections

TRON Power, or TP, is required for all voting on the TRON network. TRON Power can be purchased by freezing their TRON Tokens.

TP is calculated as follows: 1 TP=1 TRX frozen to get bandwidth

Every TRON account has the right to vote for its own SRs. After release (defrost available after 3 days), users will not have any frozen assets and will lose all TP accordingly. As a result, all votes become invalid for current and future rounds of voting, unless TRX is again frozen for voting.

The TRON network only registers the most recent vote, which means that each new vote will override all previous votes.

tron TRX

Create a proposal, vote and recall

Only SR accounts are allowed to suggest changes to dynamic network settings. Once a proposal is created, the SRs will vote for it, and any participant who does not vote in time will be considered a veto. The offer is active within 3 days after its creation. Voting can be changed or restored within a 3-day voting window. At the end of the period, the proposal will either pass (19+ votes) or decline (and end).

The applicant may withdraw the offer before it becomes effective.

TRX vote

PRODUCTS AND METRICS

TronGrid

TronGrid provides full nodes running in the cloud, so the developer does not need to configure the node themselves to work with Tron. TronGrid APIs allow developers to query events, transactions, assets and other blockchain data. Since the launch of TronGrid v.2 in early 2019, there has been a steady increase in traffic with random peaks due to dApp launches, on average over 12,000 requests per second, over 1 billion requests per day. The average response time to event requests in TronGrid v.2 is the biggest need of the community, it was constantly below 100 ms. TronGrid v.3 with new features and another significant performance improvement is in alpha testing on April 17, 2019 and will be released to the entire community soon.

TronLink

TronLink is a Tron wallet that works as a Chrome extension as well as on iOS and Android. It can be integrated into other dApps and can be used to send and receive TRX, TRC10 and TRC20 tokens.

Social Community Overview and Strategy

The TRON team lists 4 main areas when it comes to community growth and development: online engagement, regional reach, developer community, and education campaign.

  • The team states that they prioritize community engagement and views engaging with community members and resolving their problems as an important strategy for gaining community support. The team has also been and will continue to share development progress with the community.
  • TRON states that the Project has developed strong relationships with Super Representatives and strategic partners who hold meetings and events, and significantly expands TRON's reach. The group also mentioned that they have identified and worked with TRON attorneys and power users, especially in areas where they have less physical presence.
  • The TRON team provides individual support for projects working with TRON. The team has call engineers to provide technical support for Discord. The team claims a consistent effort to create clear technical documentation. In 2018, the team launched TRON Accelerator with $ 1 million in grants. The team also launched a $ 100 million fund called TRON Arcade to develop dApps for games.
  • The TRON project also launched its educational campaign in early 2019. This campaign includes videos and articles on topics such as what blockchain is, token economics, and more. The project also held a series of events in which they invited prominent local figures to speak. In January 2019, TRON hosted the NiTROn Summit that showcased what was happening in the blockchain space and explored what was about to happen. Kobe Bryant and Jazz Kang were the two keynote speakers.
TRX competition

The TRON team views Ethereum and EOS as major competitors and lists the following differences:

  • The team claims that the TRON network is capable of processing more transactions per second (over 2000) than the competition.
  • The TRON team is committed to providing extensive technical, financial and marketing support to community projects.
  • Relatively low transaction fees
  • TRON exposed to large BitTorrent user base

Official site of the project. Read more about blockchain technology, tokenization and projects on the cryptocoinexpert.info website

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