General
Tron Blockchain has just been integrated into DEXTools, as we told you in this recent tweet!
- Now you can check data and trade on any DEX on this new chain, the world’s 2nd largest TVL blockchain.
- You can access Tron in our DEXTboard here
https://twitter.com/DEXToolsApp/status/1818669788668833949
What is TRON, and what sets its ecosystem apart?
- TRON is a decentralized blockchain platform founded by Justin Sun in 2017. Its primary mission is to construct a global entertainment system with distributed storage technology, enabling easy and cost-effective sharing of digital content.
- TRON supports diverse dApps, smart contracts and DEXs through the TRC-20 token standard. Allowing developers to create and issue tokens, similar to Ethereum’s ERC-20.
- TRON has also made an impact is in the non-fungible token (NFT) space. The integration of BitTorrent has also enhanced TRON’s capabilities in file sharing and storage.
- The network is fully governed by its community as a Decentralized Autonomous Organization (DAO).
- This DAO governance is managed by Super Representatives (SRs), elected through decentralized voting, who play a crucial role in maintaining the network’s security and stability.
Exponential growth: The numbers speak for themselves
- In recent years, the TRON network has experienced remarkable growth, boasting over 247 million users and more than 8.1 billion transactions.
- As of July 2024, TRON has established itself as a significant player in the DeFi space, ranking as the second-largest blockchain by Total Value Locked (TVL).
- TRON’s TVL stands at approximately $4.15 billion, surpassing other major blockchains like Binance Smart Chain (BSC), Polygon, Solana, and Avalanche.
- The network’s average daily transaction count of 6.75 million underscores its robust activity.
How does the TRON blockchain work?
- One of the standout features of TRON is its use of the Delegated Proof-of-Stake (DPoS) consensus mechanism.
- This DPoS setup enables users to conduct transactions with nearly zero fees while effectively preventing transaction spam.
- This approach also ensures that the network can process a high number of transactions per second (TPS), making it one of the fastest blockchain platforms available.
- The native cryptocurrency of the TRON blockchain is TRX, which is utilized in various functions within the network, including transaction fees, governance, and staking.
Tron price forecast (source: TradingView)
Looking towards the future: token burning and stablecoins
- On July 6, Justin Sun, the founder of Tron, revealed that the team had been building a gasless stablecoin solution for free peer-to-peer transfers.
- On July 9th, TRON burned 11,015,060 TRX, reflecting its commitment to deflation and value growth.
TRON excels in the stablecoin market, with over $59 billion in stablecoins on its blockchain. This leads to TRON processing more transactions than major card payment networks on certain days, making it a top choice in emerging markets with unstable currencies.
Explore TRON now here!
- And that’s all! We hope this article has helped you learn more about TRON and its growing ecosystem.
- Remember: with DEXTools you have access to 95 networks and over 5 million tokens for your trading needs, along with the best DeFi tools available.
Thank you for trusting us, and happy trading!
