TRON is a decentralized, blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX). It was established in March 2014 by Justin Sun and since 2017 has been overseen and supervised by the TRON Foundation, a non-profit organization in Singapore, established in the same year. It is open-source software.
It was originally an Ethereum-based ERC-20 token, which switched its protocol to its own blockchain in 2018. TRC20 has a fee of 5 trones per 1 USDT coin for the transfer. On some cryptocurrency wallets, users can't withdraw their USDT funds until they have enough money for the network fee.
TRON was founded by Justin Sun in 2017. The TRON Foundation was established in July 2017 in Singapore. The TRON Foundation raised 70millionin2017throughaninitialcoinofferingshortlybeforeChinaoutlawedthedigitaltokens.Thetestnet,BlockchainExplorer,andWebWalletwerealllaunchedbyMarch2018.TRONMainnetlaunchedshortlyafterwardinMay2018,markingtheOdyssey2.0releaseasatechnicalmilestoneforTRON.InJune2018,TRONswitcheditsprotocolfromanERC−20tokenontopofEthereumtoanindependentpeer−to−peernetwork.On25July2018,theTRONFoundationannouncedithadfinishedtheacquisitionofBitTorrent,apeer−to−peerservice.Withthis,TRONdeclareditsindependencewiththecreationoftheGenesisblock,alongwithJuly2018acquisitionofBitTorrent,aplatformwithover100millionmonthlyactiveusers,wasintegratedintotheTRONecosystem.Uponthisacquisition,inAugust2018,BitTorrentFounderBramCohenalsodisclosedthathewasleavingthecompanytofoundChia,analternativetobitcoincreatedtobealessenergy−intensivecryptocurrency.ByJanuary2019,TRONhadatotalmarketcapofabout1.6 billion. Despite this market performance, some authors viewed TRON as a typical case of the complex and disordered nature of cryptocurrencies.
