TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS — 24/7.
This project is best described as a decentralized platform focused on content sharing and entertainment — and to this end, one of its biggest acquisitions was the file sharing service BitTorrent back in 2018.
Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, driving content creation through financial rewards, allowing content creators to launch their own personal tokens and decentralizing the gaming industry.
TRON is also one of the most popular blockchains for building DApps.
TRON was founded by Justin Sun, who now serves as CEO. Educated at Peking University and the University of Pennsylvania, he was recognized by Forbes Asia in its 30 Under 30 series for entrepreneurs.
Born in 1990, he was also associated with Ripple in the past — serving as its chief representative in the Greater China area.
TRON has positioned itself as an environment where content creators can connect with their audiences directly. By eliminating centralized platforms — whether they are streaming services, app stores or music sites — it is hoped that creators won’t end up losing as much commission to middlemen. In turn, this could also make content less expensive for consumers. Given how the entertainment sector is increasingly becoming digitized, TRON could have a headstart in applying blockchain technology to this industry.
The company also says that it has a talented and experienced developer team, based around the world, that has been drawn from major companies such as Ripple Labs.
Last but not least, whereas some other blockchain projects can be opaque about their plans for development, TRON offers a point of difference by delivering a roadmap that shows its intentions for the coming years.
TRON has a total supply of just over 100 billion tokens — and at the time of writing, about 71.6 billion of these are in circulation.
When a token sale was held in 2017, 15.75 billion TRX was allocated to private investors, while an additional 40 billion were earmarked for initial coin offering participants. The Tron Foundation was given 34 billion, and a company owned by Justin Sun got 10 billion.
All in all, this meant that 45% of TRX supply went to the founder and the project itself, while 55% was distributed among investors. Critics argue that this is a much higher ratio than what has been seen with other cryptocurrency projects.
TRON uses a consensus mechanism that is known as delegated proof-of-stake.
TRX owners can freeze their cryptocurrency in order to get Tron Power, which means that they can vote for “super representatives” who serve as block producers.
These block producers receive TRX rewards in exchange for verifying transactions, and these rewards are then distributed among the people who voted for them.
According to TRON, this approach helps its blockchain to achieve higher levels of throughput.