TRON is a public blockchain dedicated to providing the underlying infrastructure that enables developers to create smart contracts and decentralized applications, freely publish, own, and store data & other content.
TRON deploys a Delegated Proof-of-Stake (DPoS) consensus mechanism to avoid the issue of low transaction throughput times and high transaction fees amongst Proof-of-Work (PoW) public blockchains (e.g., Bitcoin).
Specifically, some of the core features of TRON include:
TRON's mission is to become the underlying architecture for decentralized applications, and therefore "building a truly decentralized internet".
Some of its products include:
TRX is the native asset of the TRON network. A few examples of the use cases for the TRX token include:
TRON adopts a three-layer architecture divided into a core layer, a storage layer, and an application layer.
There are several modules in the core layer, including smart contracts, account management, and consensus. A stack-based virtual machine is implemented on TRON, and an optimized instruction set is used. To better support DApp developers, Solidity was chosen as the first smart-contract language, yet to support additional programming languages in the future.
TRON designed a distributed storage protocol consisting of Block Storage and State Storage. The notion of a graph database was introduced into the design of the storage layer to meet better the need for diversified data storage in the real world.
Since TRON enables smart contracts to be deployed and executed, developers can create a diverse range of dApps and customized wallets on TRON.
As of April 24th 2019, the TRON network has over 1,200 nodes, with a block height of over 8 million. Transactions per day have averaged around 2 million. There are also over 2.6 million total accounts on the blockchain. Besides, there are roughly 60 transactions per block, with a block generated every 3 seconds with a block reward set at 32 TRX. For real-time data, please click here.
The TRON consensus mechanism uses a Delegated Proof-of-Stake (DPoS) system in which 27 Super Representatives (SRs) produce blocks for the network. Every 6 hours, TRX account holders who freeze their accounts can vote for a selection of SR candidates, with the top 27 candidates deemed the SRs. Voters may choose SRs based on criteria such as projects sponsored by SRs to increase TRX adoption, and rewards distributed to voters.
SRs' accounts are standard, but their accumulation of votes allows them to produce blocks.
The TRON protocol network generates one block every three seconds, with each block awarding 32 TRX to Super Representatives. A total of 336,384,000 TRX will be awarded annually to the 27 SRs.
Whenever a SR finishes block production, rewards are sent to a sub-account in the super-ledger. Meanwhile, SRs can check but are not able to directly make use of these TRX tokens.
A withdrawal can be made by each SR once every 24 hours, transferring the rewards from the sub-account to the specified SR account.
The three types of nodes on the TRON network are Witness Nodes, Full Nodes, and Solidity Nodes:
Every account in the TRON network can apply and have the opportunity to become a Super Representative.
In the TRON network, anyone can vote for SR candidates. The top 27 candidates with the most votes will become SRs with the right and obligation to generate blocks. The votes are counted every 6 hours, and the SRs change accordingly. However, to prevent malicious attacks, there is a cost to becoming an SR candidate. When applying to become a SR, 9,999 TRX will be burned from the applicant's account. Once the tokens are burned, such an account can join the SR election process.
TRON Power, or TP, is required for all votings on the TRON network. Users can acquire TRON Power by freezing their TRX tokens (i.e., staking).
TP is calculated in the following way: 1 TP = 1 TRX frozen to get bandwidth.
Every account in the TRON network has the right to vote for their SRs. After the release (unfreeze, available after 3 days), users will not have any frozen assets and lose all TP accordingly. As a result, all votes become invalid for the ongoing and future voting rounds unless TRX is frozen again to vote.
The TRON network only records the most recent vote, which means that every new vote will negate all previous votes.
Only SR accounts have the right to propose a change in dynamic network parameters. Once a proposal is created, SRs will vote for it, and any member who does not vote in time will be considered as a veto.
The proposal is active for 3 days after it is created. The vote can be changed or retrieved during the 3-day voting window. Once the period ends, the proposal will either pass (19+ votes) or fail (and end).
The proposer can withdraw the proposal before it becomes effective.
|Yes||No/No vote||Proposal Status|
|19 or more SRs||8 or fewer SRs||Pass|
|Fewer than 19 SRs||More than 8 SRs||Fail|
The following tables demonstrate the calculation for vote rewards (table 2) and block rewards (table3).
|Vote Reward (Candidate Reward)||The top 127 candidates update once every round (6 hours) and will share 115,200 TRX as mined. The reward will be split in accordance with the vote weight each candidate receives. Each year, the total reward for candidates will be 168,192,000 TRX.|
|Total vote reward per round||115,200 TRX = 16 TRX/block × 20 blocks/min × 60 mins/hr × 6 hrs/round|
|Total vote reward per year||168,192,000 TRX = 115,200 TRX/round × 4 rounds/day × 365 days/year|
|Block Reward (SR Reward)||The top 27 candidates (SRs) who are elected every round (6 hours) will share roughly 230,400 TRX as mined. The reward will be split evenly between the 27 SRs (minus the total reward blocks missed due to network error). A total of 336,384,000 TRX will be awarded annually to the 27 SRs.|
|Total block reward per round||230,400 TRX = 32 TRX/block × 20 blocks/min × 60 mins/hr × 6 hrs/round|
|Total block reward per year||336,384,000 TRX = 230,400 TRX/round × 4 rounds/day × 365 days/year|
Due to the issuance of new TRX tokens for Vote and Block Rewards, there will be an annual inflation of 1,681,92,000 TRX + 336,384,000 TRX = 504,576,000 TRX.
The TRON Virtual Machine (TVM) is a Turing-complete virtual machine developed to support the TRON's ecosystem.
TVM is EVM-compatible, making it easy for Ethereum developers to port applications on TRON.
However, unlike Ethereum, the TVM employs the concept of Bandwidth, which differs from the gas mechanism on Ethereum's EVM. Instead, transaction operations or smart contracts on TVM are free. The use of bandwidth points prevents spamming while letting contracts being free to use.
The Tron Virtual Machine is compatible mainly with Solidity, but other VMs are expected to be supported in the future.
Similar to Ethereum's EVM business logic, its compiler translates Solidity smart contracts into bytecode readable that are executable on the Tron Virtual Machine.
The TVM accesses blockchain data and invokes External Data Interface through the Interoperation layer.
For more details on the Tron Virtual Machine, please refer to its official documentation.
|Token Type||Native (ERC-20 at TGE)|
|Private Sale Allocation||25.7% of Total Supply|
|Private Token Sale Date (completed)||January 8th, 2017|
|Private Sale Token Price||$0.0003|
|Initial Amount Raised in Private Sale||$30.0MM|
|Public Sale Allocation||40.0% of total supply|
|Public Token Sale Date||August 30th, 2017|
|Initial Amount Raised in Public Sale||$150.0MM|
|Circulating Supply||66,682,072,191 (67.16%)|
The token supply distribution is as follows:
TRON holds its funds in cold storage with multi-signature wallets. The foundation's wallet can be found here.
The TRON team decided not to share its use of funds at this point publicly.
The TRON team has listed four critical areas when it comes to community growth and development: online engagement, regional outreach, developer community, and education campaign.