Tron (TRX): Charting a Complex Course in the Decentralized Realm
Tron (TRX)is a prominent player in the ever-evolving blockchain landscape that has been a subject of interest for many crypto enthusiasts and investors since its emergence on the scene on October 31st, 2017. It's been striving relentlessly to redefine the paradigm of decentralized applications and smart contracts alongside Ethereum, but its journey is far from straightforward. In this module, we will explore the Tron blockchain's architecture and endeavor to unravel its captivating complexities.
Unveiling the Enigma: Tron (TRX)
Tron stands as an intricate public blockchain, meticulously designed to provide a dynamic ecosystem for decentralized applications and smart contracts. It grapples with the complexities inherent in conventional blockchain networks, endeavoring to untangle the knotted web of low transaction throughput and exorbitant fees. To tackle the outlined issues, Tron founders came up with a Delegated Proof-of-Stake (DPoS) consensus mechanism, where 27 Super Representatives are chosen every 6 hours to deftly validate blocks and transactions.
Overview
The three-layered architecture of Tron comprises a core layer, a storage layer, and an application layer. The core layer encompasses smart contracts, account management, and consensus, while the Tron Virtual Machine (TVM) translates these intricacies into executable code.
Thanks to the support of Solidity programming language by Tron, Ethereum developers can also utilize the Tron network as they see fit. But it doesn't end there, as the network boasts its own native tokens - TRC-10 tokens - and provides access to cloud-based full nodes through the TronGrid.
2. Delving Deeper into Complexity
2.1 The Three-Layered Riddle
Core Layer: The core layer is where an array of modules, including smart contracts, account management, and consensus, converges. Here, Tron employs a stack-based virtual machine that's optimized for executing Decentralized Applications (DApps) efficiently, and the choice of Solidity as the first smart contract language keeps the complexity alive.
Storage Layer: A Complex Web of Data Handling: In the storage layer, Tron introduces a multifaceted distributed storage protocol that intricately marries Block Storage with State Storage. Adding to the intricacy, Tron employs the concept of a graph database to cater to the diverse data storage needs. Within this labyrinthine layer, blockchain storage, operating on the robust LevelDB, presents yet another layer of intricacy. Its multifaceted design accommodates arbitrary byte arrays, bi-directional iterators, and the cryptic Snappy algorithm.
Application Layer: The application layer unveils a realm where Tron endows developers with the tools to build a plethora of Decentralized Applications (DApps) and customized wallets. This layer forms the conclusive stratum, emphasizing the network's unwavering commitment to adaptability and versatility, shrouded in a cloak of complexity.
2.2 The Complexity of DPoS
The intricacies are not confined to architecture alone. Tron's Delegated Proof-of-Stake (DPoS) mechanism brings its own web of complexity. The network, boasting over 1,200 nodes and a block height of around 8 million, registers a bewildering two million transactions daily. With more than 2.6 million total accounts and an astonishing 60 transactions per block, the network is a maze of activity. The network generates a block every three seconds, with each block yielding a reward of 32 TRX. The 27 Super Representatives (SRs), the guardians of the network, are elected by TRX account holders who cast votes every 6 hours. As SRs produce blocks, rewards are channeled to voters.
2.3 The Cryptic Network of 27 Super Representatives
The 27 Super Representatives function as a council within the Tron network. Any account in the Tron network can join the SR ranks.
Users require TRON Power (TP) for voting, and to get it, they must freeze TRX tokens. The voting occurs every 6 hours, but to be eligible to become a candidate, one must incur an elusive cost of 9,999 TRX, which is then burned to never be recovered again. That's the only way to participate in the election process.
The establishment of proposals adds yet another set of rules to Tron. The initiation of a proposal in this realm can only be executed by SR accounts.
A proposal's fate lies in the hands of SRs, and at least 19 members must approve it and roll it out. The proposers possess the power to withdraw their proposition before it becomes effective.
2.4 Tron Virtual Machine (TVM)
While the TVM mirrors its Ethereum cousin, it introduces the concept of bandwidth. This bandwidth mechanism deviates from Ethereum's gas model, as transactions and smart contracts on TVM are free. The web of bandwidth points serves as an intricate cryptogram to thwart spam while keeping contracts free. This TVM is primarily compatible with the Solidity language, with plans to unveil additional VMs in the cryptic future. It is a bridge between complex EVM business logic and bytecode execution on the Tron Virtual Machine.
Economics and Supply of TRX: An Intricate Quandary
The complexities extend to the economics and supply of TRX, the native token of the Tron network. Private and public sales form 25.7% of the initial total token supply. The sale happened on Jan 8, 2017.
The public sale, involving 40% of the initial total token supply, commenced on Aug 30, 2017, at a rate of 205,000 TRX to 1 ETH, valued at around $0.0015 per token.
The Tron Foundation and the team own 34.3% of the token supply
A Mysterious Team Behind the TRON
At the core of this Tron are the following key figures:
Justin Sun, the elusive CEO, founded TRON who is also the founder of Callme (PEIWO)
Marcus Zhao, CEO of BitTorrent Inc., the Head of Public Chain, brings his expertise, having served as Alibaba's chief data mining expert
Cong Li, the Head of Developer Community Division
Closing Thoughts
Tron (TRX) is one of the most prominent projects within the blockchain landscape. With its intricate architecture, complex DPoS consensus mechanism, and a network of 27 Super Representatives, it offers a fresh perspective on decentralized applications and smart contracts.