Tron Network – Ethereum’s Younger Rival

What is the Tron Network?

Tron Network is a blockchain ecosystem for digital content that aims to bring digital freedom to projects around the world. It was first launched in 2017 by Justin Sun, and went live in May 2018. Tron aims to establish itself as both a Dapp platform and a foundation for a future decentralized content medium with TRX at its center. In particular, this token is part of the system built to cut out the middleman in the media industry.

Community-Driven

The network’s security is ensured by its delegated Proof-of-Stake (DPoS) consensus mechanism, in which 27 so-called super representatives are continuously voted in by other users. Candidates compete based on their contributions to the community, the share of rewards they’re willing to give to the voters, and other factors. Having been forked from Ethereum’s EVM, Tron Virtual Machine (TVM) is fully compatible with many of its features such as Solidity and ERC-20 (or TRC-20) tokens. But at the same time running Dapps on the network is virtually free, as instead of “gas” there is “energy” which can be acquired by freezing TRX, or buying at a low price if the limit is reached. This has lead to a massive growth in popularity of Tron for deploying new Dapps like Fishing Master and TRX Market, as well as some Dapps switching to Tron from other platforms, such as TronGoo which has converted from Ethereum in January 2019.

Rise to the top

Justin Sun might have created a bit of a cult around himself, but that’s not without reason. As part of the project Atlas, he is planning to push Tron to the forefront of the rapid development of Internet infrastructure we are witnessing today. In 2018 the Tron Foundation acquired BitTorrent, the company behind the famous file sharing protocol, and has started implementing some of its bold ideas in this field. A new BTT token based on Tron was created to give incentive to seeders and extend the network’s bandwidth and availability. Furthermore, cooperation will only intensify in the upcoming years as Tron is planning to launch BTSF, a blockchain-based file storage system that will be available to both regular users and the developers of Dapps.

Where to store TRX?

Some have eagerly invested in Tron already, while others are still skeptical whether the foundation will fulfill its ambitious goals. Either way, it is always good to have somewhere to store TRX safely and effectively. Magnum Wallet offers you just that, with the support of over 700 different coins and tokens, a built-in exchange, and hardware wallet support. Manage and exchange TRX in a user-friendly interface with Magnum.