Tron Ecosystem - Steemit Crypto Academy Season 4 - Homework Post for Task 1
Good night everyone, steemians, blogers, readers, and crypto lovers. I will start a positive activity tonight because life must always be productive and tonight I will write a post about cryptocurrency on my blog to participate in the Steemit Crypto Academy Homework Post for Task 1. This class I will be taking follow professor @sapwood class. In this class, we will learn and share knowledge about “Tron Ecosystem” based on the following questions.
(2) What are the different dApps in the Tron ecosystem are you familiar with? What are the uses of DeFi applications like Justswap, JustLend, and Sun.io? How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?
What are the different dApps in the Tron ecosystem are you familiar with?
Before discussing dApps first, it's a good idea to discuss the Tron ecosystem first. Tron is a decentralized platform that implements a peer-to-peer (P2P) system. Tron was built with the aim of entertaining its users, so its users can share entertainment content with anyone, and also by sharing a lot of entertainment content we can also get benefits and imbalances from the content we share.
Tron was created in September 2017 by Justin Sun as CEO of the Singapore-based organization Tron Foundation. The Tron network also makes its own cryptocurrency called Tronix (TRX). Then Tron created many decentralized applications (dApps) that can be used for various activities such as making exchanges and others.
Decentralized Applications or often called dApps are applications that have a P2P network system or do not care, using a P2P network, the accounts that we have on dApps are fully regulated by ourselves, in contrast to Centralized Applications such as Instagram, Twitter, and others that use the system, meaning accounts that use the system. we have a centralized application controlled by the center, and at any time can do whatever they want with the account that we have, the difference with dApps.
There are already many dApps in the Tron ecosystem that we can use according to our needs, we can see anywhere dApps in the Tron ecosystem such as on the dappradar.com platform, and can also be seen on the Tron wallet or TronLink.
Although there are so many dApps created on the Tron network, only a few that I use often, here are some dApps that I am familiar with and often use.
JustSwap is one of the applications that I often use to exchange TRX coins for other coins. This jastswap platform is one of the Tron projects that is used to do DEX (Decentralized Exchange) and the exchange made on JustSwap is the exchange between TRC20 coins. JustSwap is easy to use and can be accessed on TronLink.
2. Poloni Dex
Poloni Dex is a DEX platform that is the same as JustSwap above, Poloni Dex is used to exchange coins. Poloni Dex is also one of the Tron projects, which means Poloni Dex stands on the Tron network. Poloni Dex is the second name after the name change, the previous name used was TRXMarket DEX.
JustLend uses a DeFi system that allows its users to make credit or give credit. Unlike the second dApps above, although all three use the DeFi system, JustSwap and Poloni Dex only function to exchange currencies. JustLend is the same as the two dApps above which stand on the Tron network.
What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?
DeFi (Decentralized Finance) is a financial platform that uses a decentralized system in its use which means that there are no third parties in carrying out activities on the DeFi platform. By implementing a decentralized system in its use, allows all activities that we do to be transparent and can be seen by many people. Some of the applications that are often used in DeFi are DEX (Decentralized Exchange), Stablecoin, Lending Platform, Wrapped Bitcoin (WBTC), and Prediction Markets.
There are already many dApps that implement the DeFi system in their use, 3 of them are:
JustSwap uses a DeFi system to perform decentralized exchange (DEX) between TRC20 coins. JustSwap is the most popular DEX platform, one of the reasons why JustSwap is popular is that JustSwap provides unlimited liquidity.
JustLend is the same as JustSwap which uses the DeFi system in its use, what distinguishes JustLend from JustSwap is its usefulness, if JustSwap is used to exchange currencies while JustLend allows us to borrow and lend. At JustLend we can not only make loans and lend but we can also earn interest and we can also save assets.
If JustSwap allows us to do exchanges, JustLend allows us to make loans and so on, while Sun.io allows us to mine TRC20 coins.
How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?
To complete this task, first install the TronLink application which can be downloaded from the play store. After installing the TronLin application, create an account first.
Because I already have the TronLink application and also have an account, I do not provide steps to download and create a TronLink account. To enter the SUN.io platform, press Discover on the TronLink application then select SUN
Because I entered the SUN.io platform from the TronLink application, SUN.io automatically connected to the wallet. Next, click the two lines that are too late at the far right and then click stake.
Scroll down then press on the deposit section, then we can choose to Lock SUN or Stake Sun.
If you choose to Lock SUN, then fill in the Amount section then the Expiry date of the lock section, after filling in the two fields then press Deposit.
If you choose to SUN Stake, then we just need to fill in the amount section and then immediately press Deposit.
With this lesson, I know more about the Tron ecosystem which is very useful in the crypto world and also I understand more about the uses of DeFi and dApps which I will use more often in the future.