TRON’s Mission to Create an Internet for Everyone, Defining Decentralization – Bitcoin News Press Release

Press release. GENEVA, SWITZERLAND / 27 July / – you can see Founded in 2017 with the goal of decentralizing the web, it has aligned its mission to pursue this purpose over the past five years.

For most blockchains, decentralization is a central theme. It is a form of management that delegates authority to individuals. As a result, users can contribute to and own a portion of the network.

The four components of TRON’s decentralized architecture are protocol, nodes, assets, and decentralized applications. Decentralization encourages putting power in the hands of the people, which is why TRON took its commitment to decentralization to the next stage in December 2021, by de-establishing itself and establishing itself as a decentralized, independent, community-governed organization (DAO).

protocol decentralization

TRON aims to enable developers and users to create and share content without restrictions. It uses a delegated Proof of Stake (DPoS) consensus mechanism to manage its own blockchain. Only elected nodes can approve blocks of transactions, unlike a point-of-sale system, which allows anyone with sufficient assets to do so. This structure enables users to protect the network by delegating their restricted assets through a mechanism of incentives.

Every blockchain network uses a consensus mechanism, and DPoS is one of the most efficient consensus algorithms available. DPoS consumes less power and completes transactions faster than PoW (Proof of Work) or traditional PoS systems. Every six hours, the TRON community elects 27 block validators to act as “excellent representatives” (SRs) in the ecosystem.

Due to the many advantages, many blockchains have moved to the DPoS mechanism to operate their networks. No matter how much you bet TRX or the number of votes received by SRs, each SR has identical voting power on the TRON network, ensuring that the governing percentage of each SR is evenly balanced.

Decentralization of the contract

Nodes are the foundation of every blockchain network. As a result, any examination of decentralization must evaluate it. TRON’s geographic diversity in nodes makes it more secure and sustainable.

decentralization of assets

The distribution of local assets, in addition to their availability, also contributes to the decentralization of the blockchain. Quantity TRX The wallet has grown at a phenomenal pace with a 134% increase in one year, from around 26 million in July 2021 to over 61 million by July 2022. The popularity of the network and user base is growing with more TRON wallet users and will continue to contribute to the decentralization of the network. Today there are more than 100 million user accounts on the network, and the number of users is growing daily.

Decentralization in dApps

The number of dApps, smart contracts, and users is also noteworthy for decentralization.

Troon Grand Hackathon This is a great opportunity for startups and their ideas to grow the TRON Network. The various projects presented during the Hackathon contribute to the diversification of the ecosystem by providing many dApps that continue to develop.

To learn more about TRON decentralization and review what historical data shows, read the “Deep Diving into Decentralization” report on https://trondao.org/blog/ .

About Tron Dao

TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by His Excellency Justin Sun, TRON Network has continued to make great progress since the launch of MainNet in May 2018. July 2018 also saw the integration of the ecosystem of Bit torrent, a leader in decentralized Web3 services with over 100 million monthly active users. The TRON . network It has gained incredible strength in recent years. As of July 2022, it has over 104 million total user accounts on the blockchain, over 3.6 billion total transactions, and over $11 billion in total locked value (TVL), as reported in TRONSCAN. In addition, TRON hosts the largest traded supply of US dollar rope (USDT) stable currency around the world, surpassing USDT On Ethereum since April 2021. TRON completed the full decentralized network in December 2021 and is now a community-governed DAO. Recently, decentralized stablecoins with excess collateral American dollar Launched on the TRON blockchain, powered by the blockchain industry’s first-ever crypto-reserve – Troon Dao Reservemarking TRON’s official entry into decentralized stablecoins.

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Media connection

Fayrouz Lakhani
press@tron.network


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