Tron $TRX Wiki: Coin History, Techstack, and Crypto News

30 Sept 2022

This is the official HackerNoon wiki for Tron. As part of our coin price pages, this living wiki displays on Tron crypto price page. If you’d like to suggest edits to our official Tron wiki, please submit them in the comment field below, a real human editor will read and review your suggestions for accuracy and publication.

Tron is basically a digital platform, like a social media platform, that is based on a blockchain and has its own crypto token TRX. Tron was founded in 2017, with the aim of enabling developers and content creators to sell and have value for their products without the use of middlemen. It uses a peer-to-peer (P2P) system to allow creators and developers to sell their work directly to their consumers.

History

TRON was founded in 2017 by Justin Sun, which was followed by the launch of the TRON Foundation in the same year. This was in Singapore, the headquarters, and it was primarily marketed for the Asian market upon launch. Through its foundation, TRON was able to raise upwards of $70 million in the first round of initial currency funding done in 2017.

In March 2018, TRON launched its testnet that allowed testing of features and experimenting on capacity. Along with the testnet, TRON also released their Blockchain explorer and web wallet – this would set the pace for the TRON ecosystem.

After rounds of testing and improvements, the TRON Mainnet was officially launched in May of 2018 dubbed the Odyssey 2.0 which was a huge achievement for TRON. This release was based on the Ethereum ERC-20 token. Later on, in June of 2018, TRON switched its protocol from the ERC-20 token to its independent peer-to-peer network which they use to date.

The TRON Foundation finished its first acquisition in July 2018, where it acquired the BitTorrent organization that focused on peer-to-peer file sharing. TRON would then go ahead to enable BitTorrent to establish its own token sale platform, which would be based on TRON.

Despite being affected by the ban on digital tokens by the Chinese Authorities, TRON has been resilient and grew to become a global brand with a current capitalization of around $1 billion. Currently, TRON has offices in Singapore and San Francisco.

Biggest Claim to Fame

The promise of TRON, to empower content creators and connect their craft directly to consumers could be their greatest selling point yet. TRON is challenging and taking on established content distributors including Netflix, Hulu and the likes. It’s doing this with the full backing of the crypto industry.

Upon launch in 2017, TRON was trading at USD 0.0021 per coin, after a few months of trading, the price jumped to USD 0.021 per coin, an almost 1000% price change. This set the potential of TRON and with its expected product improvements and partnerships, it is likely to soar even higher.

The acquisition of BitTorrent was also a major boost for TRON in the creation of brand appeal for those who are into peer-to-peer content sharing.

Biggest Criticism

The biggest criticism of TRON has been in terms of the security of the system. In 2019, HackerOne released a report stating that the entire TRON blockchain could be rendered useless by a single CPU attack. According to Hacker one, sending a large number of requests to the blockchain could squeeze the power of the blockchain's CPU, overload the memory, and perform a distributed denial-of-service (DDoS) attack. This security bug was labeled as critical and has since been dealt with by TRON.

Several other security bugs have been identified through TRON’s Bug Bounty program, whereby they pay hackers and testers for identifying issues and threats to the blockchain.

Team

Tron was founded by Justin Sun, the former Greater China chief representative of Ripple. Justin was featured in 2015/17 Forbes China 30 under 30, 2017 Forbes Asia 30 under 30 and was a member of the first cohort of entrepreneurs at Hupan University, an elite business school established by Jack Ma, the founder of Alibaba Group. Justin has been a great player in shaping the crypto industry, especially in the Asian region.

When TRON was launched, Lucine Chen was the CTO for two years before leaving to establish his own crypto platform. Lucien was involved in several critical aspects of TRON including the onboarding of developers of the platform.

Marcus Zhao is TRON’s Head of Protocol and is involved in the platform in a lot of ways including development on BitTorrent. He keeps track of product development, and team management and gives insight into necessary changes.

Conclusion

TRON is a promising product in the crypto industry. Even though it doesn't pose features like low gas fees, and higher transactions like most other crypto coins and tokens, its niche is interesting and quite promising.

TRON’s slogan is "Decentralise the Web" with the aim to eject the corporate middleman from the process of consuming media. The future and growth of TRON are reliant on its ability to provide and produce worthy products and services.