Guides to Cryptocurrencies
Founder: Justin Sun
Prominent Developer Group: Tron Foundation
Protocol: Tron Proof-of-Stake (TPOS)
Speed: 1500 TPS (Reported by Justin Sun Dec17)
Chinese Name: 波场
9. Tron (TRX)
ICO Date: 9 September 2017
Mainnet Launched Date: 31 May 2018
Tron was founded by Justin Sun (current CEO) in September 2017. It is reported to be a decentralized protocol project with the goal of becoming a global content distribution platform and decentralized internet utilizing cryptocurrency and blockchain technology that allow everyone to freely create contents, websites, and applications for the digital entertainment industry.
The native token of the Tron network is the Tronix (TRX) cryptocurrency coin. Consumers can use TRX coin to pay for the content that they wish to access on the Tron blockchain. The paid tokens will then go to the accounts of the content producers where they can use to fund or upgrade their content business, pay for blockchain services or exchange for other cryptocurrencies.
Tron launched Testnet on 31 Mar 2018 and Mainnet Odyssey 2.0 on 31 May 2018. Odyssey is a Java-based network using Tron Proof-of-Stake (TPOS) consensus algorithm. TPOS is an adjustment modified from Delegated Proof-of-Stake (DPOS) where token owners will be incentivized for voting on the blockchain.
TRX token started off using ERC-20 that came from the Ethereum blockchain as the token technical standard . The development team planned to complete the migration of ERC20 TRX tokens to the public Tron blockchain between 21st June 2018 (UTC/GMT+08:00) to 24th June 2018.
Tron reached cryptocurrency market cap of more than $1.8 billion USD and a total coin circulating supply of around 66 billion as of 26th May 2019. TRX is a new altcoin but is a direct competitior to bitcoin and ethereum, competing to become the best cryptocurrency in the market. Similar to bitcoin trading, TRX is a popular token to trade on a cryptocurrency exchange.