- TRON is a public blockchain attempting to become the core infrastructure for a decentralized internet. Its mainnet was launched on May 31st 2018.
- TRON relies on a Delegated Proof-of-Stake (DPoS) mechanism during which 27 Super Representatives rotate every 6 hours to validate blocks and transactions.
- Smart contracts are often written in Solidity and compiled on the TRON Virtual Machine (TVM). The network also supports native tokens (TRC-10). Also, developers can access full nodes running within the cloud provided by TronGrid.
- TRON supports popular tokens like BTT Token (BTT) and USD Tether (USDT). Since its launch, TRON has become one among the foremost widely used programmable blockchains for decentralized applications.
TRON is a public blockchain dedicated to providing the underlying infrastructure that permits developers to make smart contracts and decentralized applications, freely publish, own, and store data & other content.
TRON deploys a Delegated Proof-of-Stake (DPoS) consensus mechanism to avoid the difficulty of low transaction throughput times and high transaction fees amongst Proof-of-Work (PoW) public blockchains (e.g., Bitcoin).
Specifically, a number of the core features of TRON include:
- A three-layer architecture: a three-Tron supports a three-layer architecture divided into a core layer, a storage layer, and an application layer.
- Delegated Proof-of-Stake consensus: TRON utilizes a DPoS algorithm to succeed in high TPS, offering greater scalability than existing programmable networks.
- A network of 27 Super Representatives: TRON relies on a singular model with accounts named Super Representatives who generate and validate blocks.
- Tron Virtual Machine (TVM): smart contracts are written in Solidity, making it easy for Ethereum developers to deploy on the TRON network. The TRON project also plans on supporting additional languages within the future.
TRON’s mission is to become the underlying architecture for decentralized applications, and thus “building a very decentralized internet”.
Some of its products include:
- TronGrid: it provides full nodes running within the cloud allowing developers to not found out a full node to figure with the TRON protocol. TRONGrid APIs enable developers to question events, transactions, assets, and other blockchain data. Since the launch of TronGrid v2 at the start of 2019, there has been a gentle increase of traffic with occasional peaks thanks to dApp launches, averaging over 12,000 requests per second, over 1 billion requests per day. the typical reaction time for querying events on TronGrid v2 has been continuously below 100ms. TronGrid v3, with new features and other significant performance improvements, is within the alpha testing phase as of April 17th 2019 and is predicted to be soon released to the whole community.
- TronLink: it’s a TRON wallet running as a Chrome browser extension, also as on stand-alone iOS and Android applications. It are often integrated into other decentralized applications and may be wont to send and receive TRX, TRC-10 (e.g., BTT), and TRC-20 tokens (USDT).
TRX is that the native asset of the TRON network. a couple of samples of the utilization cases for the TRX token include:
- Payments for services and goods provided by service providers and merchants on TRON.
- Payments for fees and commissions for running native smart contracts.
- Staking TRX to delegate energy towards running smart contracts or voting for Super Representatives.
2. TRON’s key features
2.1 A three-layer infrastructure
TRON adopts a three-layer architecture divided into a core layer, a storage layer, and an application layer.
2.2.1 Core layer
There are several modules within the core layer, including smart contracts, account management, and consensus. A stack-based virtual machine is implemented on TRON, and an optimized instruction set is employed . to raised support DApp developers, Solidity was chosen because the first smart-contract language, yet to support additional programming languages within the future.
2.2.2 Storage layer
TRON designed a distributed storage protocol consisting of Block Storage and State Storage. The notion of a graph database was introduced into the planning of the storage layer to satisfy better the necessity for diversified data storage within the world .
- Blockchain storage: the TRON blockchain storage chooses to use LevelDB, which is developed by Google and proven successful with many companies and projects. It supports arbitrary byte arrays as both keys and values, singular get, put and delete, batched set and delete bi-directional iterators, and straightforward compression using the Snappy algorithm.
- State storage: TRON features a KhaosDB within the full-node memory which will store all the newly forked chains generated within a specified period and supports witnesses to modify from their active chain swiftly into a replacement main chain. It also can protect blockchain storage by making it more stable from being abnormally terminated in an intermediate state.
2.2.3 Application layer
Since TRON enables smart contracts to be deployed and executed, developers can create a various range of dApps and customised wallets on TRON.
2.2 Delegated Proof-of-Stake (DPoS) consensus algorithm
As of April 24th 2019, the TRON network has over 1,200 nodes, with a block height of over 8 million. Transactions per day have averaged around 2 million. There also are over 2.6 million total accounts on the blockchain. Besides, there are roughly 60 transactions per block, with a block generated every 3 seconds with a block reward set at 32 TRX.
The TRON consensus mechanism uses a Delegated Proof-of-Stake (DPoS) system during which 27 Super Representatives (SRs) produce blocks for the network. Every 6 hours, TRX account holders who freeze their accounts can vote for a variety of SR candidates, with the highest 27 candidates deemed the SRs. Voters may choose SRs supported criteria like projects sponsored by SRs to extend TRX adoption, and rewards distributed to voters.
SRs’ accounts are standard, but their accumulation of votes allows them to supply blocks.
The TRON protocol network generates one block every three seconds, with each block awarding 32 TRX to Super Representatives. a complete of 336,384,000 TRX are going to be awarded annually to the 27 SRs.
Whenever a SR finishes block production, rewards are sent to a sub-account within the super-ledger. Meanwhile, SRs can check but aren’t ready to directly make use of those TRX tokens.
A withdrawal are often made by each SR once every 24 hours, transferring the rewards from the sub-account to the required SR account.
The three sorts of nodes on the TRON network are Witness Nodes, Full Nodes, and Solidity Nodes:
- Witness nodes are found out by SRs and are mainly liable for block production and proposal creation/voting.
- Full nodes provide APIs and broadcast transactions and blocks.
- Solidity nodes synchronize blocks from other full nodes while also providing indexable APIs.
2.3 A network of 27 Super Representatives
2.3.1 General mechanism
Every account within the TRON network can apply and have the chance to become an excellent Representative.
In the TRON network, anyone can vote for SR candidates. the highest 27 candidates with the foremost votes will become SRs with the proper and obligation to get blocks. The votes are counted every 6 hours, and therefore the SRs change accordingly. However, to stop malicious attacks, there’s a price to becoming an SR candidate. When applying to become a SR, 9,999 TRX are going to be burned from the applicant’s account. Once the tokens are burned, such an account can join the SR election process.
2.3.2 Election process
TRON Power, or TP, is required for all votings on the TRON network. Users can acquire TRON Power by freezing their TRX tokens (i.e., staking).
TP is calculated within the following way: 1 TP = 1 TRX frozen to urge bandwidth.
Every account within the TRON network has the proper to vote for his or her SRs. After the discharge (unfreeze, available after 3 days), users won’t have any frozen assets and lose all TP accordingly. As a result, all votes become invalid for the continued and future voting rounds unless TRX is frozen again to vote.
The TRON network only records the foremost recent vote, which suggests that each new vote will negate all previous votes.
2.4 TRON Virtual Machine (TVM)
The TRON Virtual Machine (TVM) may be a Turing-complete virtual machine developed to support the TRON’s ecosystem.
Tron Virtual MachineTVM is EVM-compatible, making it easy for Ethereum developers to port applications on TRON.
However, unlike Ethereum, the TVM employs the concept of Bandwidth, which differs from the gas mechanism on Ethereum’s EVM. Instead, transaction operations or smart contracts on TVM are free. the utilization of bandwidth points prevents spamming while letting contracts being liberal to use.
The Tron Virtual Machine is compatible mainly with Solidity, but other VMs are expected to be supported within the future.
Similar to Ethereum’s EVM business logic, its compiler translates Solidity smart contracts into bytecode readable that are executable on the Tron Virtual Machine.
The TVM accesses blockchain data and invokes External Data Interface through the Interoperation layer.
3. Economics and supply
The token supply distribution is as follows:
- Private sale tokens made up 25.7% of the initial total token supply. it had been conducted on January 8, 2017 for 25,700,000,000 TRX at a rate of 1,025,000 TRX = 1 ETH at ~$0.0003 per token, selling 25.7% of the entire token supply.
- Public sale tokens made up 40.0% of the initial total token supply. it had been conducted on August 30, 2017 for 40,000,000,000 TRX at a rate of 205,000 TRX = 1 ETH at ~$0.0015 per token, selling 40.0% of the entire token supply.
- TRON Foundation and team holds the remaining 34.3% of token supply.