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- 1 Tron has emerged as one of the most valuable blockchain mechanisms due to its features.
- 2 The tokens belonging to this ecosystem have emerged as big profit minters for investors.
Tron is a decentralized network that brings together many aspects of blockchain together. It amps up the smart contract functionality with a consensus algorithm and Proof-of-Stake principle. Since its advent, the ecosystem spun off a number of other initiatives too. Moreover, it is playing a significant role in cryptocurrency’s adaption worldwide.
A Brief Insight Into Tron’s Journey
Tron was introduced by the Grenadian cryptocurrency entrepreneur Justin Sun in the year 2014. Today, it works as an open-source software and its operations are handled by the Tron Foundation, a non-profit organization. In 2017, the group raised $70 Million in 2017 through an initial coin offering. The following year, Tron launched its Mainnet framework.
Shortly after that, Tron switched from ERC-20 to an autonomous peer-to-peer network. Around the same time, it also acquired the file-sharing service BitTorrent.
The holding of peer-to-peer services enabled Tron to create its own blockchain. They soon did that and named it “Genesis Block.” By the year 2019, TRON’s market capitalization had reached $1.6 Billion. In the same year, BitTorrent launched its own token on the TRON network.
A Peep Into Its Architecture
With a 3-layer architecture, Tron is able to support multi-language extensions. It consists of a storage layer, a core layer, and an application layer. Besides that, it adheres to Google protocol buffers and distributes computing resources equally. It inducts a decentralized virtual machine that manages a network of public nodes globally.
While executing 2,000 transactions per second, the network charges absolutely no fee to the users. Its robust structure has been instrumental in preventing malicious cyber attacks like DDoS. Due to no fee and an unassailable structure, Tron has emerged as a reliable option for crypto users.
3 Tron Coins That Have Gained Popularity:
Boasting high functionality and feasible features, these tokens have established themselves as favorites of investors:
1. Tron
Also known as Tronix, this one has a market cap of $7,166,146, 023. It promises high liquidity and doled up great profits to the holders. The token has emerged as a big support for users who want scalability as well as security in their transactions.
2. BitTorrent (New)
The TRC-20 utility token makes the most of peer-to-peer architecture. It commands a market cap of $457,881,306 and brings good liquidity too. The network has also spun off new dApps that aim to broaden its adoption in many industries.
3. JUST (JST)
The network is dedicated to the development of TRON-based DeFi protocols. It has the potential to become an all-in-one financial solution. Owing to the possibilities, the token holds a market cap of $205,904,524 while offering high liquidity and supply.
Conclusion
Tron gained huge popularity due to its firm and viable mechanism. It enables crypto users to execute quick, safe, and free transactions to a wide chain of networks. With consistent updates, it keeps easing the structure as well. Through innovation and efforts, this network gives new possibilities to the entire crypto world. In the past few years, the ecosystem has introduced new crypto features and coins that are broadening the horizon of this domain. For investors, it is proving to be a big reward.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
