Steemit Crypto Academy Contest / S1W1 - Favorite Blockchain Network by @chiabertrand
Hello 👋,
Steem Greetings dear esteem steemians, I believe and trust that you are all doing great 😃. It's an honor to be participating in this engagement contest / S1W2 which is talking about our favourite Blockchain. So I hope you all will love my entry and probably learn from it or even join me investing in this Blockchain because of the amazing things I will talk about it which may interest you.
So here my entry goes thus:
My favorite Blockchain is the TRON ECOSYSTEM (TRX). It's a Blockchain which is built on the Ethereum blockchain
TRON network is a very strong project which was founded by Justin Sun early July 2017 and the developers behind this project is the TRon foundation limited company and raised over *$70" million that same year it was launched via an initial coin offering and finally in 2018, it's testnet and explorer Blockchain and web Wallet was finally launched on it's ecosystem
This TRON Blockchain is an operating which is usually aimed at ensuring a great daily technology use by its users and it's network system can handle upto about 2000 transactions/seconds as compared to that of ETH and BTC Blockchain network which usually handles only about 6 to 25 transactions/seconds
TRX users use the method of freezing their TRX token in other to increase their Tron power or they can better vote for higher representatives within the Tron ecosystem which usually serves as block producers. Once they do so, they will be able to recieve rewards in return. All this means are pretty cool because this Tron network operates with the use of delegated proof-of-state consensus mechanism.
The token in this blockchain is TRX and it's a very unique token which usually offers it's users who are content creators to be able to connect with their audience directly in a Decentralized and transparent manna
Why is it my favorite?
The TROn Blockchain is a Decentralized platform where users can create contents and earn for free without any payments. TRON highest investment opportunity happened 4yrs ago where it's highest sharing was the service of file BitTorrent
Another aspect why it's my favorite Blockchain is because of its very low fee transactions cost. This is why I always use but Tron network (preferably TRC-20) which is the cheapest amongst all other networks
It's still my favorite because of its transparent and decentralized way of connecting their users to each other
Does the network has some earliest shortcomings
Challenges in the TRON ecosystem began last year 2021 specifically in the 17 of December when Tron CEO Justin Sun said he will soon step down as TRON CEO and still follow crypto but invest else where. This caused panicking within the users in the Tron ecosystem. Again, investors in the network came to know that eToro was about getting rid of which made TRON price to drastically go down just the following month in early February last year 2021. So this caused investors to start trembling and start doubting. All this various happenings made Tron price to drastically fall in it's value
how has the network's team taken care of the problem?
However, Justin Sun gave us TROn users a green light that he will still continue to promote the branding of Tron even though he won't still be operating at the Tron foundation as a CEO. So Tron users were happy because this man is one of the most influential figures as far as crypto is concern. This is to say that, his continues contribution to the TROn ecosystem will always gives us hopes that Tron will one day skyrocket the crypto market
What I think can make this network better is the failure problem during swapped because at anytime when I earn Tron from steemit, I always recieve it in my TronLink wallet then at times I swap it to USDT so that I can carry out my trading. When ever I trade, I always swapped back the traded pairs into USDT so that I could swap it back to my TRX. But at times I face alot of difficulties especially when I'm swapping and it's only failing. And when this is failing, I will be loosing alot of bandwidth as it will keep on burning and burning which I'm turn makes me to Lost some of my capital.
The screenshot above is an example of some of my failed transactions during swapping process. When ever this happens, it discourages me so much.
I believe this always happens because of lack of fee pre-verification which usually results to empty reserves for all the failed transactions because enough TRX are not there to cover it's shortage of bandwidth unlike other exchanges that usually stops their users before any transaction is sent. During that time, if the transaction will have to failed or give an error, it will notify the user that he/she doesn't have enough coins to cover up his/her fees
You see now the difference right?. Because within the TronLink wallet, you will not be notified about any problem or error that you don't have enough fee, instead you will only be seeing but failed transactions which will in turn be causing alot of burning of bandwidth without making you to know about it's fee shortage
I hope this issue will be resolved soon so that ignorant users shouldn't be loosing their capital each time they carry out swapping transactions
The project I'm going to discuss here is TronLink project
What is TronLink?
TronLink is a Decentralized Blockchain which has a Wallet that enables it's users to have access to different types of decentralized Apps(dApps) within the Tron ecosystem. This TronLink wallet serve as Non-Custodial Crypto Wallet for it's users, meaning that they have absolutely control over their funds. Within the TronLink wallet, transactions are carried out with the support of TRC-20, TRC-10 and Tron Token it's self. It's a project that you can Link with other Tron accounts such as steemit Inc, Polyniex and BitTorrent
Within the TronLink wallet, we have Tronscan which is one of the most important aspect within the TronLink wallet because it serves as a search engine which helps users to verify their transactions within the Tron ecosystem and this ecosystem have a well organized and structure database system
Inside the TronLink wallet, you can see options such as received, send, swap, vote and freeze. Users can make use of Tronscan with this options by checking their transactions at anytime time
I will also discuss on some features found within the TronLink wallet like the markets and different dApps found within it
You can see here the internal market where you can swap different types of crypto currency together which is very good and unique
Here, you can search for any type of decentralized Application. Before utilizing the different types of dApps, you will always need to redirect to the a third party page in the dApp application because of their user terms and conditions
This is where you can check all your transaction history, invite friends to join the Tron ecosystem, check your public account, do all your settings and so many others
One good thing about this TronLink wallet is that you can add many more wallets to it which makes it unique and very good because it's users friendly. I had successfully linked my steemit Tron wallet to this TronLink wallet. So any time I earn Tron from steemit, it automatically enters my TronLink wallet which I can then just swap it into USDT or different coins depending on what I want to do. So this have made life very sweet to me because I fine it easy to carry out any transaction within the TronLink wallet.
I have detailed the history of TRON Blockchain and I have given some good reasons why it's my favorite Blockchain, we have also seen some of its short comings especially during swapping process and how this can be adjusted. We have also seen how TronLink wallet is project that is built inside the Tron ecosystem and how this TronLink is very easy utilize.
You have done an indept explanation about your favourite blockchain which is the Tron Network.
You know formarly the Tron project was built on Ethereum blockchain but it later migrated to its own blockchain which is awesome .
Since thenn the Tron project has been gaining more grounds in the crypto market.
You know one of the things i like about this network is the rapidity in transactions and the cheap costs of carrying out both external and internal transactions .From the look of things , this coin (Tron) has come to stay and it will make a great move soon.
So are you planning to invest on this project?? If yes ...Will you buy and hold or stake??
Yes brother indeed the transaction fee within this network is very fast and cheap
Yes of course, it's here to stay and grow, though it's presently 6cent now I'm it's value. I believe it will one day skyrocket to s Dolla and above because of the project that is built around it and the high recognize world figures that are working on the project
Yes of course, I'm planning to invest in future with this token
This is a very nice article from you. Thanks for bringing out time for this wonderful article
Thanks so much for the appreciation friend
Tron also one of my favourite because of lowest transaction cost with fatest execution.
I too face this issues regarding failed transaction due to this we lossing our bandwidth hardly. If it give notice regarding before execution we can save our bandwidth.
Nice entry from you.Take care
Yeah you are right, most people like Tron network because it's probably the cheapest as concerning gas fee transactions
I hope this issue be resolved soon because a lot of new users are burning their bandwidth so much because they don't know when and how to carry out an effective swapping deal
Thanks so much for the visit friend
Hope so ..
I have learned quite alot from your favorite Blockchain Wich is the Tron.
You detailed everything out in a way I can perform transactions without asking for help in my Tron wallet.
What does one need to do to recover his or her Tron keys if missing?
I really never knew one could add more wallets, and I love the Blockchain because of its decentralized system and uniqueness too.
Thanks for reading and learning something from my post dear
Once your private key is lost, it cannot be retrieved. Please always make sure you keep your private key safely
Yeah it's very good because you can link other wallet to this TronLink account. For example, I have link my steemit Tron wallet to my TronLink account
Well-done, @chiabertrand. You have talked extensively on Tron blockchain and TronLink, the project that's built on it. TronLink wallet is one of the projects I like that's built on this blockchain.
Yeah friend TronLink Blockchain is very unique and highly Scalable and what I love most about it is the project that it's built within it such as TronLink wallet. It has help a lot of people very much
Thanks so much for the visit
TRON is one of the most popular blockchain networks, as well as one of the world's largest blockchain-based, open-source operating systems. My dear friend, this is a very excellent entry.
Wishing you the best of luck in the engagement contest.... 👍
You said it all friend. It became highly popular most especially when migrated from the Ethereum blockchain to its own blockchain which made people to like it more because of its Independence
Thanks a lot for the visit and wishes friend. I really do appreciate
Excelente publicación como simpre demuestra que eres un estudiante de la academia
Thanks so much for always liking my publications friend
This is really a great post here Sir.
Based on the fact that the tron blockchain happens to be one of best so far. It’s quite fast and cheap.
You 100% correct bro. Tron Blockchain is extremely very good and the gas fees during transactions are superlative very cheap just as you have said
Thanks for the visit brother
These challenges that Tron ecosystem faces negatively impacts on the coin TRX. During that period there was quite a number of panick selling, thereby causing an adverse decrease in the price of the coin as a lot of holders were dumping it.
Positive messages should be spread about the Tron ecosystem so that more people can invest in it.
Hello @beckie96830, thanks for the visit
You are very right here my dear. That is why I gave enough reason why I prefer TRX network to all other networks and I also gave alot of advantages of using this Blockchain and investing in it's token TRX. I really do believe the TRX token will yield fruits one day. This is why I will invest very well in this Blockchain