The TRON mainnet launch followed shortly, in May 2018, also called the Odyssey 2.0 release. TRON’s testnet was launched in March 2018 with its Blockchain Explorer and very own Web Wallet. The foundation raised $70 million shortly after being founded via an ICO to develop the TRON blockchain. Justin Sun was the founder of the TRON protocol and now serves as the CEO of the TRON Foundation, a Singapore-based non-profit organization established in July 2017. The subsequent three phases, Apollo, Star Trek, and Eternity, are focused respectively on letting content creators issue their tokens on the network, implementing decentralized gaming and forecasting within the ecosystem, and driving greater decentralization and monetization opportunities within the gaming industry. Content creators can use this feature to create their own personal ICOs or brand tokens for fostering engagement. The third phase was called Great Voyage and focused on launching ICO capabilities within the TRON network. The next phase, Odyssey, introduced the concept of incentivizing content creators and consumers. TRON’s first development phase focused on building a free, decentralized content sharing and file storage platform. This layer of the blockchain is the one that supports the development of dApps. They can include videos, music, or other files with extensive data. TRON’s storage layer is where the content or files are stored. The core layer consists of smart contracts, the DPoS consensus algorithm, and account management functions. TRON’s blockchain employs a delegated proof-of-stake (DPoS) consensus mechanism and utilizes its native token, TRX, for staking and performing transactions within the ecosystem. Like the Ethereum network, the TRON protocol utilizes its own TRON Virtual Machine (TVM), which can support smart contracts. TRON’s technology attempts to take on leading players in the content streaming space, such as Netflix and YouTube, powered by blockchain’s distributed infrastructure and operations. In addition to its high transaction processing capabilities, the TRON blockchain is highly scalable, handling smart contracts effectively and supporting several users simultaneously. TRON is one of the first and leading blockchain networks focusing on decentralizing the web or revolutionizing the Web 3.0 sphere. USDT, the world’s most popularly used stablecoin by market cap, is one of the most widely used digital assets which leverages the TRC-20 standard. In addition to TRX, the TRON ecosystem also supports TRC-20 tokens, contract standards that allow users to issue their own tokens within the blockchain. Removing the intermediaries makes content sharing on the TRON network more efficient and cost-effective for content consumers and potentially more rewarding for content creators. With the entertainment industry being one of the busiest in the world for digital transformation, the TRON blockchain is somewhat of a pioneer in powering the decentralization of the concept. TRON's blockchain technology is one of the first in the industry to take on centralized content-sharing platforms, applying the power of blockchain to the space. While the Bitcoin network can handle up to six transactions per second (TPS) and Ethereum can handle 25 transactions simultaneously, the TRON protocol boasts a capability of 2,000 TPS. Due to its high throughput, the TRON blockchain offers one of the best platforms for developing decentralized applications or dApps. In addition to offering a simple solution for peer-to-peer content sharing, TRON provides a way for content creators to engage directly with their audience and earn rewards in a distributed ecosystem. Designed as an operating system on the blockchain, TRON is a decentralized platform where users can share and engage with content.
TRON (TRX) is among the top 30 digital assets by market cap as of March 2022, with TRX/USDT enjoying high trading volume and liquidity on several platforms, including KuCoin.
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