Tron Ecosystem - Steemit Crypto Academy Season 5 - Homework Post for Task 1 by @sargoon

cover photo made by @sargoon

Hello, Steemit Crypto Academy community! Here I am with my fourth homework post on SteemitCryptoAcademy. In this homework, I chose the second homework question of the first introductory course prepared by Professor @sapwood. I would like to start my homework by explaining the "What are the different dApps in the Tron ecosystem are you familiar with?"

(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?

I have been following the Tron Ecosystem closely for about 3 years. I heard about Tron dApps with the creation of the Bittorrent coin in January of 2019.

For this reason, the first dApp I will talk about is Bittorrent.

Bittorrent

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BitTorrent was founded in 2004 as a centralized company. BitTorrent is just a file downloader software according to many users, but this information is partially wrong. BitTorrent is a file swap system. Thanks to BTFS (Bittorrent File System), you can share your files uploaded to BitTorrent among users peer to peer or download files uploaded to Bittorrent by other users to your device.

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In 2018, the formerly centralized BitTorrent INC. switched to the TRON blockchain and decentralized system. BitTorrent quickly became one of the most popular dApps in the TRON ecosystem. Bittorrent's token was created by Justin Sun in January 2019.

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BitTorrent (BTT) token currently has the highest market value among the dApps of the TRON Ecosystem.

Steemit

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Steemit is a decentralized and user-friendly social media built on the STEEM blockchain. Unlike other social media platforms, Steemit is a free social media platform where everyone can share their quality posts without any restrictions.
I have been on Steemit for about 4 years, I have never used any social media platform for such a long time and I can say that Steemit is the social media that gives the most value to the authors. The strictest rule on the Steemit platform is respect for the effort and there is no tolerance for plagiarists. Steemit users are rewarded through SBD and STEEM for their quality and effortful posts, so unlike other social media platforms, Steemit is community-driven.

What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?

Justswap

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Justswap is a dApp of the Tron blockchain created by Justin Sun in August 2020.

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Justswap was created for the TRON blockchain as a competitor to UniSwap (dApp of the Ethereum Blockchain) and has been the most successful dApp of the TRON Ecosystem. Justswap is a DEX (decentralized exchange) dApp. Using Justswap, you can swap between TRC-20 tokens created with the smart contracts system of the TRON blockchain in seconds.

You do not need an intermediary for transactions on Justswap. All your transactions are completed peer-to-peer. To transact on Justswap, you can simply link your Tronlink wallet to Justswap and immediately exchange any TRC-20 tokens you want. You can quickly buy and sell BTT and TRON wrapped tokens in the TRON Ecosystem using Justswap. With Justswap you can buy USDJ (stable USD coin), WIN (WINkLink) tokens and other TRC-20 tokens.

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TRC-20 tokens also support NFTs. You can buy or trade the APENFT token, the most famous NFT dApp in the TRON Ecosystem.

Justlend

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Justlend was created in 2020 by Justin Sun as the DeFi dApp of the TRON Blockchain. To put it simply, centralized banks give you a certain rate of interest when you deposit your money and you become a lender. While you earn income from this interest, a person comes and demands money from the centralized bank, that is, if he wants to take out a loan, this person becomes a borrower. In normal centralized banks, the lender earns interest on the money he has entrusted, while the borrower owes interest to the bank on the money he has received.

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Unlike centralized banks, Justlend protects both the lender and the borrower with the decentralized TRON blockchain. By using Justlend, you can both make secure lending & borrowing transactions and the APY rate you will get for the money you deposit is much higher than centralized banks. If you are going to borrow money, Justlend asks you to deposit one of the Justlend tokens such as jTRX, jUSDT, jSUN for assurence. By using Justlend on the decentralized TRON blockchain, you can transact as a lender or borrower without the need for an intermediary.

SUN.io

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Sun.io is a decentralized DeFi dApp created in 2020 by Justin Sun, like other DeFi dApps of the TRON blockchain (Justland, Justswap). Sun.io is actually a community like Steemit, but not a social media platform. Just like STEEM Power on Steemit, there is SUN token here, and the amount of SUN you have determines how much influence you will have in the Sun.io community. You can earn Sun tokens by staking TRC-20 tokens in the TRON Ecosystem to earn Sun tokens by mining. You can trade your SUN Tokens on Justswap with no commission fees.

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

You can use the Tronlink wallet to optimize your rewards for staking rewards and any other dApps you use in the TRON Ecosystem. You can download Tronlink wallet to your computer as a browser add-on or install it on your iOS - Android mobile devices.

Now I will show you how to download and use Tronlink wallet for macOS operating system.

Step 1

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• To optimize the staking mining rewards in Sun.io on the computer, enter the "sun.io" web address in your browser and click on Stake from the top menu.

Step 2

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• Simply click the "Connect to Wallet" button.

Step 3

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• If your browser does not have the Tronlink extension, click "Click here" to download the Tronlink extension to your browser.

Step 4

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• Simply click the "Add to Chrome" button.

Step 5

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• As you can see, we have successfully installed the Tronlink extension on our browser.

Step 6

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• Go back to Sun.io and click the "Connect" button to link your Tronlink wallet to Sun.io staking.

Step 7

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• You can get 3.65% APY by depositing the SUN tokens in your Tronlink wallet to Sun.io Stake by clicking the "Lock SUN to get veSUN" button.

Conclusion

People can perform all their financial transactions without the need for centralized banks using the Justlend, Justswap and SUN.io DeFi dApps in the TRON ecosystem. Users can borrow, lend and trade TRC-20 assets with Justswap DEX without any additional commissions with the decentralized high-security TRON blockchain instead of traditional centralized banks.

To be honest, I've been working on this assignment for about 3 days. I was really happy to learn about the new dApps in the TRON ecosystem. Best regards to Professor @sapwood for sharing this assignment. Thank you so much for reading my fourth Steemit Crypto Academy post! :)