The internet is largely run by big tech companies like Google, Facebook, and Amazon. The data we create gives them immense power. Middlemen have become incredibly wealthy from our data, leaving us with little to no understanding of what our data is being used for.
Tron aims to solve this problem by developing a decentralized Internet that is controlled and owned by users instead of corporations.
Cryptocurrencies are creating their way into the world of finance, and TRON is one of them. Well, TRON stands out from other cryptocurrencies because of the unique features that have made it popular among users as well as investors. TRON is utilizing blockchain technology to build a decentralized internet.
Let’s Understand What is TRON and How its Relate to Ethereum?
TRON is an open-source blockchain platform that allows users to share content and create entertainment apps without the need for intermediaries. TRON rewards users for content posted on its network with its native token, TRX, and can also support blockchains and smart contracts of other projects.
In addition, it also offers faster transaction speeds than other cryptocurrency networks while also reducing fees. The main goal of TRON is to build a decentralized internet infrastructure that enables users to interact with each other without any middleman or intermediary involved.
The similarities between Tron and Ethereum are that they both use distributed ledger technology, smart contracts, and decentralization. In addition, they both have their own cryptocurrency coins that can be used as payment within their respective ecosystems.
TRON’s main strength is its high scalability, which makes it easier for developers to build applications on the platform. In addition, TRON also has a low transaction fee and fast transaction speeds. This makes it a great choice for quick payments or international transfers. Furthermore, TRON’s decentralized platform allows users to have complete control of their funds without relying on any third-party services or organizations. Finally, users can take advantage of TRON’s smart contracts technology to create more complex financial transactions without middlemen or third-party intermediaries.
The unique combination of these features makes TRON stand out from the crowd when compared with other cryptocurrencies available in the market today.
How Does TRON Work?
TRON has three tiers: storage, core, and applications.
- TRON is an open-source network for remote procedure calls, which is cross-platform and language agnostic. It stores network blocks and statuses.
- Kernel-level modules provide consensus, smart contracts, and account management.
- TRON allows for the development of decentralized applications in multiple languages, including Java, Scala, C++, Python, and Go. It also has support for the Protobuf data serialization protocol.
TRX holders elect 27 Validators to verify data and create new blocks on the TRON network. In contrast to EOS, TRON allows block producers to buy votes in their elections. Super representatives use rewards from adding blocks to the blockchain to buy votes and maintain control of the network.
Know Whether or Not it is Built on Ethereum
The TRON network is one of the most popular blockchain platforms in the world, and one of the main questions people have about it is whether or not it is built on Ethereum. This question has a dual answer: yes and no. While TRON does use some Ethereum-based technology, it also utilizes its own proprietary technology and consensus algorithms. This makes it a unique platform that allows developers to build innovative dApps with increased speed and efficiency. As such, even though TRON is not fully based on Ethereum, its ability to leverage both platforms makes it a powerful solution for developers who are looking for scalability and flexibility when building their projects.
The Tron Future
Tron is building a decentralized ecosystem with dapps and its own stablecoin, USDD, to be at the center of the new decentralized internet. Tron aims to offer blockchain solutions for large corporations — a market currently dominated by the likes of Facebook and Google. The company hopes to leverage its newly acquired resources as one of the largest crypto players in order to compete on a global scale with these tech giants.
The Bottom Line
The underlying technology of TRON was originally developed by the Ethereum team, and altered to create a separate platform. While both blockchains are based on similar principles, they are completely different in terms of their bottom line. Ethereum is designed for enterprise-level applications, while TRON focuses more on consumer-facing products and services.
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