Trom protocol is primarily maintained by Tron Foundation and equally distributed among TRX stakeholders basing its pricing mechanisms on bandwidth and energy.
It provides a decentralized virtual machine that executes a program through a network of public nodes without transaction fees, reportedly up to 2,000 transactions per second.
Tron Foundation was established in Singapore in 2017 by Chinese entrepreneur Justin Sun.
The Tron supports and enables smart contracts to be deployed and executed, rendering opportunities on the utility of the applications in the platform unlimited.
The Tron project is a blockchain-based operating system that aims to decentralize the internet and its infrastructure, similar to that of other blockchains that emphasizes a fully delegated platform anchored on the proof-of-stake system.
The Tron protocol is one of the largest blockchain-based operating systems globally, offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the Tron ecosystem.
TRX or Tronix is the token based on the Tron Foundation’s system protocol. It is the core unit on its blockchain network where it is the natural medium currency for all TRC-based tokens.
BTT is a utility token based on the BitTorrent blockchain while USDT is the stablecoin issued by Tether on the Tron network.
Tron architecture is based on the proof-of-stake architecture running a delegated model of governance. Transactions on the Tron blockchain are maintained by Super Representatives (SR) who are in charge of validating blocks within a 3-second block time through a decentralized organization.
At any given time, there are 27 SRs who are voted in by TRX holders from 100 SR candidates. Voting of SRs and SR representatives happens every six hours.
Unlike Bitcoin and other cryptocurrencies that are based on a proof-of-work algorithm, TRX cannot be mined. Instead, new TRX tokens are issued as block rewards for elected SRs as an incentive for maintaining the integrity of the network.
TRX stakeholders can store their coins in Tron Foundation developed TronLink a TronWallet, the same applications are linked with a number of partners where the coin can be used for day-to-day online transactions.
Tron, being open-source, is in constant development to be the largest blockchain-based operating system that aims to decentralize the internet and its infrastructure.
The BitTorrent is one of its future ventures, decentralizing the largest file-sharing protocol with its coin BTT.
Tron’s Justin Sun just had a talk with Steve Wozniak, the co-founder of Apple, on a possible collaboration between the two companies. Many analysts agree that the undisclosed meeting was for the mainstreaming of crypto to the market, with the help of Apple’s popular tech branding.
Tron just recently announced Swarm tech startup to enable clients to use TRX coins for transactions. This is one of their many recent partnerships with tech startups in using their coin, and is the start of a more extensive and aggressive startup collaboration with more companies in the future.