Steemit Crypto Academy Beginners' Course || Homework post for Task 1 : Tron Ecosystem @daprado1999

daprado1999 (69)in SteemitCryptoAcademy • 3 years ago (edited)

^{image edited by imark}

I am filled with joy making my first ever homework post here in the family, I hope to learn a whole lot from this great family

QUESTION 2

"What are the different DApp in Tron Ecosystem you are familiar with. What are the uses of DeFi applications like JustSwap, JustLend, Sun.io. How can you optimise mining rewards from various participants all over the world. "

^{quoting professor @sapwood}

THE TRON ECOSYSTEM

The Tron was founded by a Justin Sun in Singapore. He was born in 1990, the Chief Executive Officer of Bit Torrents file sharing program. Steemit was acquired by tron on the 14th February 2020 which automatically makes it a DApp on the Tron Ecosystem. The Tron has an amazing algorithm structure, quite easy and affordable. In view of this, some specific projects has been built on this digital blockchain integrating it to the tron wallet. IT is a large blockchain developed and designed exclusively by blockchain developers for the sole purpose of decentralizing the tron and skyrocketing the ecosystem.

TRON	PRICE ALERT
TRX.	increase by 8.09% costs $0.09

However, about the tron today I checked the price on the exchange market and did a feasibilty study on the Tron.

From the above the following can be deduced.

Market Cap	$8,984,817,700.00
Volume (24h)	$2,257,830,910.00
Circulating supply	101,897,110,000 TRX
Total Supply	101,897,208,000 TRX

"What are the different dApp in Tron Ecosystem, you are familiar with"

^{quoting professor @sapwood}

DECENTRALIZED APPLICATION[DApp]

The DApp are applications that are developed using digital formats and is concised into the blockchain. These could be seen as the applications which enhances decentralization. They are used in executing transactions and also used in mining. Some decentralised exchanges I noted on the long run during the course of my research ard thus;

Just Lend
Just Swap [sunswap]
Forsage
Bitcoin cuties

DApp allows for interwined network topology of various systems in parri passu with an operating system. The system is reliable and trusted. Security and Privacy is obtained due to high blockchain fidelity.

What are the uses of DeFi, Applications like the JUST SWAP, JUST LEND, SUN.IO

^{quoting professor @sapwood}

Decentralized Financial Application [DeFi]

JUST SWAP

This is a tron based exchange between TRC20 tokens. It is also known as SUNSWAP It is a decentralised Financial Application System in the cryptospace that leverages USDT stable coin. Just Swap is used to exchange between 2 TRC Tokens based on the value of the price. All the collective trading fee provides to the liquidity of the protocol token.

source

Just Swap is a tron-based decentralized protocol for automated liquidity provision and an open finaincial market accessible to all.

JUST LEND

This is a statistical representation of the biadata of the Just Lend

Total value locked	$2,040,275,040
Deposit Value of votes	$1,891,781,028
Staked Value of liquidity	$ 129,898,900

This is a Tron driven monetary niche driven to establish fund pools which are controlled by systematic, statistical algorithms. It deals with the leverage and lending token mechanism, used in financial institutions. Just Lend literally lends tokens to users who are undergoing financial constraints and earn interests while trading. The systematic process is structured in a way that the users wallet serves as collateral overriding every other protocol.

source
These are the currencies in which loans could be issued or obtained and a host of others.

USDT	WBTT	TUSD
BTC.	TRX	SUNOLD
SUN	ETH.	USDC

Just lend is a niche in the Tron Ecosystem and thus useful for tron transactions.

SUN.IO

The Sun.io is a decentralised finance Application that is solely focused on the principle of staking and earning. It is named after its founder Justin Sun

It is used for swapping stable coins and runs on the tron TRC-20 token effectively. The Sun earns from stakes and from various participants worldwide.

How can you optimise mining rewards by staking TRX and other TRC20 token in Sun.io? Examples?

^{quoting professor @sapwood}

THE TRON LINK

The Tronlink is a wallet used to store digital assets of users who interact with the Tron Blockchain. The wallet is controlled by the users. It has high protection, encryption. It is accessed through your wallet private keys.

The Tron wallet gives access to the entire decentralized Apps developed on the blockchain. It is developed on the blockchain and can be accessed on the applestore or playstore. Activities which occurs in the tron link are;

Swapping or exchanging tokens.
Voting
Staking
Liquidity mining.

OPTIMIZING MINING REWARDS BY STAKING TRX AND TRC20 TOKENS IN SUN.IO

These steps should be followed;

STEP 1
Downloading the app,
STEP 2
Visit your steem wallet at source copy your wallet address as shown below
STEP 3
Login to source to affiliate tron link pro wallet, this would make it reflect

STEP 4
This proceeds immediately after you connect it it shows initializing as shown below

STEP 5
Click on the tron link wallet as you have already had it installed, with these few steps you could optimise mining rewards.

CONCLUSION

The Tron system has evolved so rapidly, alot of users can now perform multiple tasks of lending, stalking, mining, pooling and it can be perfectly performed on the ecosystem.

I enjoyed the research so much I feel the zeal tp do more thanks for stopping by

Cc
Professor @sapwood

#academys5-intro01 #cryptoacademy #steemexclusive #krsuccess #nigeria #tron