TRON blockchain development - outsourcing company Boosty Labs
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TRON blockchain development

TRON is an open-source blockchain protocol designed to deploy a decentralized ecosystem with simplified mechanisms for creating and hosting entertainment apps and content that users can share without intermediaries. At the same time, for posting or selling content on the network, TRON is supposed to be rewarded in the native cryptocurrency of the project, Tronix (TRX), and the platform itself is capable of supporting blockchains and smart contracts of other projects.


Rapid Development

Technologically, TRON, the main competitor to Ethereum and EOS, is rapidly growing its user base and is quite aggressively clearing a place for itself on the crypto market. TRON is enticing developers of these projects in order to save them from the collapse of platforms. Since TRON started on Ethereum and followed its development path, the virtual machine (TVM), smart contracts and TRON token standards are compatible with Ethereum, making it easy to migrate projects to this blockchain.


An Advantage over Ethereum 

Unlike Ethereum, where, according to Justin Sun, “miners are fighting developers,” TRON uses a delegated proof-of-Stake (DPoS) consensus algorithm. This algorithm  implements the separation of functions of coin holders with voting rights and transaction validators.


TRON Origin 

TRON is headed by Justin Sun, a young Chinese entrepreneur. Since his activity significantly affects the market and the price of TRX, he is often called a marketing genius. 

In 2017, Sun created a non-profit organization, TRON Foundation, in Singapore, with the help of which he attracted 15 thousand Bitcoins to ICO for his venture – 40% of the estimated 100 billion TRX token emission. At the same time, 15% of the coins were distributed at pre-sale, 35% went to the reserve fund of the project – for the TRON blockchain development team and outsource TRON development – and 10% went to the Peiwo fund. In 2018, the TRON Foundation acquired BitTorrent for $ 140 million. Its uTorrent application generates about 3% of daily internet traffic every month. The company also decided to launch its own version of IPFS: BTFS.

How Does TRON Work?

The TRON architecture distinguishes between three tiers: storage, core and applications. 

  • In addition to storing network blocks and statuses, TRON is envisaged to use a GRPC-neutral with respect to the language and platform, an open-source framework for remote procedure calls. 
  • At the kernel level, modules for consensus, smart contracts and account management are implemented. 
  • And at the application level, TRON has the ability to create decentralized applications not only in the main protocol language (Java), but also in others, including Scala, C ++, Python and Go, and with support for the Protobuf structured data serialization protocol.

Validators, 27 super representatives elected by TRX holders, are responsible for verifying transaction data and creating new blocks on the TRON network. At the same time, unlike the EOS network, where elections for block producers are held without the possibility of buying votes, this practice exists in the TRON system. Super representatives can direct all the rewards they receive for adding a new block to the blockchain to buy votes and to keep control of the network.

What Are TRX, TRON Power and TRON20?

The project’s native cryptocurrency (TRX) is the main medium of exchange on the TRON network. TRON20 tokens are intended for developers. With their help, it will be possible to issue coins on the platform for their own applications. And for TRON Power (TP) tokens, which become available when TRX is blocked, users acquire the right to vote on the development of the network. 

How Is TRON Developing?

The project roadmap for 2017 to 2025 includes six stages. 

  • In the first phase (Exodus), the main task of the TRON hypermedia peer-to-peer platform was to provide simple and decentralized file sharing, which made it akin to IPFS. The project started on the basis of Ethereum and in 2018 switched to its own blockchain, celebrating Independence Day by burning 1 billion TRX ($50 million). 
  • Initiated with the launch of the main network, the second phase (Odyssey) is devoted to the rollout of the entertainment content creator community. 
  • The third and fourth phases (Great Voyage and Apollo) will be associated with the launch of projects participating in the network of new tokens and the conduct of personal ICOs.
  • The fifth phase (Star Trek) will begin with the launch of a decentralized platform for gaming and market predictions. The final phase (Eternity) will touch upon the issues of fundraising and monetization of projects on the platform.

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