What is TRON (TRX)?
TRON (TRX) is a blockchain-based decentralized operating system that aims to enhance the decentralization of the internet and its infrastructure. Much like Ethereum, TRON serves as a smart contract platform, providing solutions for high throughput, high scalability, and high availability for decentralized applications (dApps) in its ecosystem. At the heart of TRON’s functionality lies its native token, Tronix (TRX), which acts as the driving force for transactions within the platform.
Who Created TRON?
The TRON blockchain was founded by the TRON Foundation, a Singapore-based organization led by Justin Sun. With a background that includes founding the app Peiwo—an endeavor that earned him a spot on Forbes’ 30 Under 30 list in 2017—Sun also served as the chief representative for Ripple in China and is a graduate of Hupan University. The TRON Foundation successfully conducted an Initial Coin Offering (ICO) in September 2017, raising over $70 million to propel the development of the TRON ecosystem.
How Does the TRON Blockchain Work?
The TRON protocol operates on a delegated proof of stake (DPoS) governance model, enabling users to conduct nearly fee-less transactions while maintaining resistance against spam. Transactions on the TRON blockchain are managed by a consortium of super representatives (SR), elected by TRX holders who lock their stake as Tron Power. There are 27 top-voted SRs and 100 super representative candidates, with their hierarchy updated every six hours based on votes received. Unlike Bitcoin, which relies on proof of work, TRON utilizes this DPoS model, creating new tokens as block rewards for elected super representatives, ensuring network integrity and functionality.
