- A journey through Tron’s eventful past and a look at the most important developments.
- A look at the key events that set Tron apart from the competition.
The Tron blockchain has reached major milestones so far this year. It is one of the most successful networks to date based on key attributes such as TVL, user growth, utility, and development.
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While attention has focused on Tron’s recent performance, it’s worth noting that the company owes its growth to a strong foundation. The latter was supported by the involvement of other key protocols and products.
The decentralization factor
Tron is already a renowned layer 1 blockchain network that has a whole range of products. However, many people may not be aware of its humble beginnings as an ERC20 token on the Ethereum network. This allowed the network to be decentralized from the start.
Tron DAO was established to ensure decentralization once the network developed its own blockchain. Tron later acquired the P2P file sharing platform BitTorrent. This strategic move strengthened its image and community as it demonstrated a commitment to ensuring decentralization.
The acquisition of BitTorrent allowed it to continue operations and was one of the ways the Tron network was able to give back to the community. The latest report revealed healthy numbers, including total revenue that recently peaked at 21,369 BTT.
This equates to approximately $9.97 million at current market value. Storage contracts recently passed the 117 million milestone and a total of 7.1 million miners.
????️#BTFS Weekly report
✅The total number of miners exceeded 7.1 million
✅The total number of storage contracts exceeded 117 million
✅ The total turnover was more than 21369 billion $BTT pic.twitter.com/HToJHp59KZ— BitTorrent (@BitTorrent) August 24, 2023
A blockchain for country systems?
Many countries strive for the ultimate level of democracy. Imagine a future where blockchain systems help with this while also being used to run government systems.
There is no doubt that a country introducing decentralized systems would technically be able to gain more trust among its citizens. This is because it would enable said country to use reliable, immutable and transparent systems.
The idea of countries adopting blockchain networks is quite interesting, especially given the scale of adoption. All it takes is one country to start with more to follow over time. This is why the announcement that the Dominican Republic is embracing the Tron network is one of the most exciting things to happen in the blockchain industry this year.
????️#BTFS Weekly report
✅The total number of miners exceeded 7.1 million
✅The total number of storage contracts exceeded 117 million
✅ The total turnover was more than 21369 billion $BTT pic.twitter.com/HToJHp59KZ— BitTorrent (@BitTorrent) August 24, 2023
Tron will likely top the list of countries planning to embrace blockchain technology in the future. However, this depends on a host of factors, including the Dominican Republic’s success in implementing Tron’s technology into the country’s systems.
The role of Tron smart contracts in robust growth
There is no doubt that smart contract capabilities are the backbone of DApp development on blockchain networks. Many networks support smart contracts, but Tron has gone the extra mile and made it significantly easier to program smart contracts on its network.
This provides additional appeal for projects looking for the ideal blockchain on which to deploy their protocols.
Let’s investigate #TRON IDE, an integrated development environment designed to make development easy. ????️????
Through TRON IDE you can seamlessly write, test and deploy smart contracts. So whether you’re a seasoned developer or just starting out, TRON IDE lets you take your ideas to… pic.twitter.com/fEuVvyNp9V
— TRON DAO (@trondao) August 24, 2023
Tron already has a streamlined system to help develop and deploy smart contracts.
How much are 1,10,100 TRXs worth today?
Based on the information above, we can conclude that Tron’s past adds character to the story just as much as his recent accomplishments. It has even inspired more projects to follow a similar path.
Shiba Inu is an example given the Shibarium plans and the fact that like Tron, it also originated on the Ethereum blockchain.