Exploring Tron Blockchain And Benefits To The Crypto Ecosystem

Brief Introduction

Tron is an exceptional growing cryptocurrency. The aim of the network was developed to provide a solution in the decentralized Industry. Tron with it's unique features has acquired attention from different experts in the crypto market and has obtained a high market cap. Today, I'll take you to a more detailed analysis at Tron Blockchain and it's Token(TRX). Without Wasting much of your, let's begin...

Tron Blockchain

Tron is a Decentralized technology that is based on a Blockchain ( a Decentralized system that works as a backend for cryptocurrencies.) Tron has achieved great heights and it's currently among the biggest platforms that operates on Blockchain technology. The purpose of Tron was to find a new way of transacting online and reduce the needs for centralized platforms.

Tron Blockchain serves as solidity for the programming language used for Smart Contracts. Tron smart Contract was intended to be developed for the Ethereum network, which means that smart Contract that were programmed for Tron will also be compatible with Ethereum. But also added some additional features that out class the Ethereum's Smart contracts.

What makes Tron unique is it's Smart contracts which are more scalable and has a faster processing speeds on the Blockchain compared to Ethereum's network. Tron also have complex features that makes it easier for developer to build Dapps on the Blockchain. Tron Blockchain has been used for the development of Dapps in different categories e.g Exchange, Gaming etc.

What Problems Does Tron Blockchain Fix?

The Tron Blockchain is an innovative and fascinating technology in the Crypto world. The Blockchain was able to fix various problems with Centralized networks. Privacy, is a major concern among people trading with Centralized platforms, they fear that their data could be leaked or altered. With the emergence of Decentralized Network, Tron was able to bring peace of mind to everyone, making sure that their data will be secured.

Moreover, Tron solve the problem of geo restrictions that can be found on most streaming platforms or games. They are many services that depend on a centralized network which mostly have restrictions on who can use the platform and who can access it. But with the help of a Decentralized system, Tron was able to ensure that such restrictions don't apply when any Dapp is launched on it's Blockchain. Now you've known a little about Tron Blockchain, let's dive into it's cryptocurrency.

Tronix(TRX)

Tronix, majorly known as TRx in short form, is the token that represents the Tron Blockchain. It works as the primary cryptocurrency for the Tron platform. Tron allows the creation of other cryptocurrencies on their Blockchain which can be built on either TRC10 and TRC20 smart chain. With these advantages, more developers can built apps on the Tron system.

How Is TRX Created

Major cryptocurrencies out there make use of Proof Of Stake (PoS) or Proof Of Work (PoW) mechanism for creation of tokens which has yielded some good results. However, The Tron ecosystem utilizes a different approach which is referred to as Delegated Proof Of Stake(DPoS) method.

Tron network consist of 27 nodes that form a crucial part of the network and enables a consensus to be obtained. The nodes are also considered to be Super Representative. The representatives are not fixed as they change frequently. Every six hours, a new representative is chosen in the network.

The new representative for the next six hours has an opportunity to earn Tokens in the network throughout the whole time interval. This is another form of mining compared to how hoe Bitcoin and other cryptocurrencies uses Proof Of work method.

Tron network has a faster processing speeds due to its type of consensus mechanism, Tron Blockchain processes a new block every three seconds as compared to Bitcoin processing speed of a new block every 10 minutes. Each time a Super Representative creates a new block in the Tron Blockchain, they are rewarded with 32 TRX tokens.

How Does Tron Work?

Tron consist of three layers that compile the Blockchain architecture. Each layers have an important role to play in allowing the network to operate without fault.

• The first layer is the storage layer where data on the Tron network are stored. Other datas that rely on the Blockchain are also stored here.

• The second layer is the application layer. This is where developers comes in. This layer gives permission for the development of applications which in all are powered by TRX tokens.

• The third layer is referred to as The Core, it processes instructions that is written in only two programming languages which are Solidity And Java. When instructions are processed, the codes are sent to the Tron Virtual Machine (TVM) where applications can be executed.

Tron vs Ethereum

Tron and Ethereum has some differences even though their programming language are the same. Here's a preview of their features:

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Conclusion

Tron network was developed with the sole aim of decentralizing the internet. It focuses on promoting privacy and processing of content easier. I hope you've learned something from the little o explained above. Thanks for reading ⭐

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