Block Explorer

TronScan Translation site

The official block explorer of Tron, known as TronScan, encompasses features such as blockchain transaction information query, nodes, super representatives, tokens, ma...

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TronScan

TronScan

TRON is a decentralized, blockchain-based open-source operating system that features smart contract functionality. It utilizes the principle of delegated proof-of-stake as its consensus algorithm and has a native cryptocurrency called Tronix (TRX). It was founded by Justin Sun in March 2014 and has been overseen and governed by the non-profit organization TRON Foundation, established in Singapore in the same year, since 2017. It initially started as an ERC-20 token based on Ethereum and later migrated its protocol to its own blockchain in 2018.

History of TRON

TRON was founded by Justin Sun in 2017. The TRON Foundation was established in July 2017 in Singapore. In 2017, shortly before the ban on digital tokens in China, the TRON Foundation raised $70 million through its initial token offering. By March 2018, the testnet, blockchain explorer, and web wallet had all been launched. In May 2018, the TRON mainnet was launched, marking a technical milestone with the release of Odyssey 2.0. In June 2018, TRON migrated its protocol from the ERC-20 token on top of Ethereum to its independent peer-to-peer network. On July 25, 2018, the TRON Foundation announced the completion of the acquisition of the peer-to-peer file-sharing service BitTorrent. With this acquisition, TRON declared its independence with the creation of the genesis block in July 2018. Following the acquisition, in August 2018, BitTorrent founder Bram Cohen revealed that he would be leaving the company to start Chia, an alternative to Bitcoin designed as a less energy-intensive cryptocurrency.

By January 2019, TRON had a total market capitalization of around $1.6 billion. Despite such market performance, some authors considered TRON to be a typical case of complex and disorderly cryptocurrency. In February 2019, following its acquisition by the TRON Foundation, BitTorrent initiated its own token sale based on the TRON network.

TRON Architecture

TRON follows a three-layer architecture consisting of the storage layer, the core layer, and the application layer. The TRON protocol adopts the Google Protocol Buffers and inherently supports multi-language extensions.

The TRON protocol is primarily maintained by the TRON Foundation and utilizes an internal pricing mechanism, including bandwidth and energy, to evenly distribute computational resources among TRX holders. TRON provides a decentralized virtual machine that can execute programs using the international network of public nodes. The network has zero transaction fees and can handle approximately 2,000 transactions per second.

TRON's implementation requires minimal transaction fees to prevent malicious users from conducting free DDoS attacks. In this regard, TRON shares similarities with EOS.IO, as both aim for high transaction throughput and reliability while keeping transaction costs negligible. Some experts consider TRON to be a clone of Ethereum without fundamental differences. The claimed transaction rate on the TRON blockchain has been questioned as it falls significantly below its theoretical capacity.

TRON Evaluation

In January 2018, Juan Benet, the CEO of Protocol Labs, revealed on Twitter that parts of TRON's whitepaper were copied without any attribution from the whitepapers of IPFSbot and MineFilecoin. While the wording in TRON's whitepaper was not a word-for-word copy, the actual vocabulary, content, and structure appeared to be very similar to the documents written by Protocol Labs. Researchers from Digital Asset Research (DAR) also found instances of code copied from other projects in the TRON codebase. TRON was also accused of violating the GNU Lesser General Public License v3.0 (LGPL) as the project did not mention that its client was derived from EthereumJ, a Java implementation of Ethereum. These allegations were denied by the TRON Foundation, the organization behind the system's design.

In May 2019, the network security testing service HackerOne revealed that just one computer could bring the entire TRON blockchain to a halt. This revelation demonstrated that a series of requests from a single computer could be used to exploit the CPU power of the blockchain, overload the memory, and launch a distributed denial-of-service (DDoS) attack.

On June 13, 2022, TRON's algorithmic stablecoin USDD decoupled from the US dollar and traded at around $0.96 per US dollar for approximately one month.

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