TRON is a public open-source decentralized network created by Justin Sun, an out-spoken Chinese serial entrepreneur, in 2014, and has been managed by the TRON Foundation since 2017. TRON was originally created on the Ethereum network and had the native token, TRX, follow the ERC-20 standard. In 2018, TRON released their own blockchain and began the era of being an independent peer-to-peer network.
Since then, TRON has made a name for itself in the blockchain industry being one of the most robust networks with a host of diverse decentralized solutions, including cryptocurrencies, stablecoins, DAOs, lending and borrowing protocols, crypto wallets, NFT marketplaces, etc.How TRON (TRX) Works
Since TRON was originally a fork of Ethereum, it is EVM-compatible. Yet, instead of following Ethereum's PoW, the network implements a customized consensus mechanism called TRON's Delegated Proof of Stake (TPoS). In TPoS, TRON users can stake TRX to vote for Super Representatives (SRs) every six hour. There are a total of 27 SRs responsible for recording and validating transactions on TRON. SRs receive TRX tokens as rewards for their services.
Since TRON was originally a fork of Ethereum, it is EVM-compatible. Yet, instead of following Ethereum's PoW, the network implements a customized consensus mechanism called TRON's Delegated Proof of Stake (TPoS). In TPoS, TRON users can stake TRX to vote for Super Representatives (SRs) every six hour. There are a total of 27 SRs responsible for recording and validating transactions on TRON. SRs receive TRX tokens as rewards for their services.
The total circulation of TRX is approximately 100 billion tokens, and the circulation at the time of writing is about 92.35 billion. TRX is frequently burned so that the amount in circulation is controlled and investors' benefits are ensured.
In 2017, after a highly successful ICO, a total of 15.75 billion TRX were allocated to private investors, with an additional 40 billion reserved for investors participating in the ICO. The TRON Foundation got 34 billion, and a company owned by Justin Sun got 10 billion. This means that 45% of TRX goes to the founders and the project itself, and the other 55% is allocated to investors.
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