Crypto academy season 5 | Beginners course - task 1: Tron Ecosystem

Hello everyone, Good morning from my end, I hope everyone’s doing fine and having a wonderful weekend already. It’s my pleasure to be part of this great community of crypto lovers.

I’m Mark Jackson by name and I should use this to opportunity to introduce my, I hope this isn’t a problem because this post serves as my first post here in this community after making my way down here successfully.

I’m taking part in this academy and also giving my answers concerning the assignment given by the professor @sapwood which is gonna y’all about the Tron Ecosystem.

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What is TronLink and what is Tronscan? What are its uses? How do you verify a transaction status(including timestamp, resource consumption(bandwidth & energy), nos of confirmations) using Tronscan-- Examples, Screenshot? What are the different dApps can you explore using the TronLink wallet? Make a transaction(a micro-transaction) with Justswap or JustLend using TronLink wallet?Screenshot?

INTRODUCTION
Tron is generally a decentralized non-proprietary blockchain-based control system with a smart contract utility, proof of stake concepts.

What is TronLink:
TronLink is defined as a crypto browser designed or engineered to ease access to the tron block chain, it gives an easy means of linking with decentralized applications.

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Tronlink gives its users multiple ways of making importation from their wallets inside the extension and also gives access to select between the TRONmainNet and the TestNet while setting of the extension.

TronLink is one organization that encourages Tron and TRC tokens. It has other options that allows users to be able to give stake token so as to make more rewards and can also freeze their tokens.

It’s easy to make deposit and can withdraw tokens at any given time, it has no delay when it comes to transactions and it has an incredible secured and safe mode of transactions which doesn’t delay time.

It has a reliable Web 3.0 wallet that’s adaptable and perfectly desegregated, based on a smart contract, allowing users to interact with Justlend, JustSwap (dApps) which are in the tron family. TronLink supports all TRC-10, TRC-20 and TRX tokens

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Uses Of TronLink

• TronLink allows webpages to have a simple to use developer routing that enables the users to access to directly interrelate with smart contracts on TronLink blockchain.
• It also gives a distinguishable operation to the Tron Network just like the MetaMask gives to the Ethereum Network. In this case developers are now given access to create and interrelate with DApps in the browser.
• By uniting the TronLink Network, users and developers is embedded to voting service straight into their webpage without the stress of manually collating and broadcasting the information for voting

What Is Tron Scan

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The first official block explorer of the TRON smart contract blockchain.

Uses of TronLink and Tronscan

• This isn’t a third-party wallet that allows users to connect through ledger devices to their programme.
• The Tronscan gives securely display of the user balance and manages users transactions.

How do you verify a transaction status (including time stamp, resource consumption (bandwidth & energy), Numbers of confirmation) using Tronscan.

• Visit http://tronscan.org/#/
• Add the transaction address or hash in the Tronscan search field
• After the details are being added in search engine from the Tronscan, all the necessary transactions status is then displayed with the relevant information involved in the transaction.

Above are the photos of the Tronscan transaction verification and all the information that was asked from the question.

What are the different dApps you can explore using the TronLink wallet?

There are several different dApps on tronlink but I’ll be making an example using only 3 of the common types which be are stated as follow.

• Justlend
• JustSwap
• SunSwap

JustSwap: Just is well known for being the first ever decentralized exchange (DEX) of the Tron Network and other follows after. It’s a Decentralized AMM-based exchange that gives users the opportunity of swapping one token for another waiting for the liquidity to perform the swap.
It has a list of bid and ask in an order-book model (CEX) which it’s difference is known as the Spread

Now I’m making a swap transaction of 5.5 Tron for 0.46174 USDT, below are the pictures of the transaction.

JustLend: it’s a Decentralized finance (DeFi) application in the Tron blockchain, also it’s a financial market protocol that has an effective and transparent pricing. It acts in accordance with all the variables of a DeFi which the notables ones are micro-lending, low Network fees etc.
It’s powered by smart contract which have two different liquid pools which are Supply-pool and Borrow-pool. Due to demand and supply, a vital interest rate is obtained.

The Different Markets found here on JustLend
A total of 13 different markets are found on JustLend——TRX, USDT, USDJ, SUN, SUNOLD, WIN, BTC, JST, WBTT, ETH, TUSD, USDC, NFT.

Supply Pool: When a liquidity is added to a supply pool, an interest rate is earned depending on the APY supply. An illustration goes this way, if USDC isn’t added to the USDC pool, jUSDC Tokens will be issued.
Liquidity can be removed by it’s supplier at anytime.

Borrow Pool: Borrowing requires staking jTokens as collateral, and you earn jTokens when you add to a supply pool which makes you eligible to loan any available assets on JustLend by staking the jTokens

Borrower unlocks jTokens after making repayments of the borrowed assets. It’s is equally made known that the Borrower collateral is remained locked while the Supplier does not have such restrictions and they keep earning interest rate per block which is equal to 3 seconds and can withdraw out their tokens from the pool.

I’ve so far acquired a good knowledge about The Tron Ecosystem and with my level of understanding I give them this answers to meet up with the task requirements. Thanks for reading through my entry
CC: @sapwood