logo

Tron Milestones: Innovative and Forward-Thinking Platform Evolution

Tron milestones

Tron is a blockchain network that has been making waves in the crypto space since its launch in 2017. Led by founder Justin Sun, Tron has rapidly grown to become one of the most popular blockchain platforms in the world. As a decentralized platform for the digital entertainment industry, Tron has positioned itself as a major player in the space, offering users a wide range of tools and services for content creation, distribution, and consumption.

With a focus on improving the user experience and lowering barriers to entry for content creators, Tron has quickly gained a reputation as an innovative and forward-thinking platform. Let’s take a look back at Tron milestones that have occurred in the past to get a feel for the network’s evolution from the time it first went up.

Tron’s Launch and Early Years (2017-2018)

Tron was launched in 2017, following an initial coin offering (ICO) that raised over $70 million in funding. At the time of its launch, Tron aimed to disrupt the digital entertainment industry by providing a decentralized platform for content creators to distribute their work and interact with fans directly.

In its early years, Tron forged partnerships with a number of key players in the industry, including game developers and online entertainment platforms. These partnerships helped to establish Tron as a major player in the space and laid the foundation for the platform’s rapid growth.

One of the key moments in Tron’s early years was its acquisition of BitTorrent in 2018. The acquisition was a significant move for Tron, as it allowed the platform to expand its user base and gain access to a wide range of content creators and fans.

During this period, Tron was also focused on developing its own blockchain network and migrating from the Ethereum blockchain to its own mainnet. This move allowed Tron to have greater control over its technology and to implement its unique features and capabilities.

Tron’s Mainnet Launch and Early Development (2018-2019)

In 2018, Tron launched its mainnet, marking a major milestone in the platform’s growth and development. The launch of the mainnet allowed Tron to become fully independent of the Ethereum blockchain and to implement its own unique features and capabilities.

Following the mainnet launch, Tron focused on developing its ecosystem and expanding its user base. The platform attracted a growing number of developers and content creators, and a range of DApps were launched on the Tron network. One of the most significant early DApps on Tron was Peiwo, a social media app with over 10 million users that integrated Tron’s blockchain technology to enhance the user experience.

Another major milestone for Tron in its early years was the launch of the Tron Virtual Machine (TVM) in August 2018.  The Tron Virtual Machine (TVM) is a software virtual machine that is designed to execute smart contracts on the Tron blockchain.

The TVM is similar to the Ethereum Virtual Machine (EVM), which is used to execute smart contracts on the Ethereum blockchain. However, the TVM is designed to be more efficient and faster than the EVM, allowing for faster execution of smart contracts on the Tron network.

The TVM is compatible with Solidity, which is the programming language used to write smart contracts on the Ethereum network. This makes it easier for developers who are familiar with Solidity to migrate their contracts to the Tron network.

Tron also continued to forge partnerships and collaborations with key players in the industry, including game developers and online entertainment platforms. In 2019, Tron partnered with Samsung to integrate the Tron network into the Samsung Blockchain Keystore, allowing Samsung users to access Tron’s DApps and services directly from their devices.

Another significant event in Tron’s early development was the acquisition of blockchain game platform BitGuild in 2019. The acquisition allowed Tron to expand its capabilities in the gaming space and to offer users a wider range of gaming options and experiences.

Tron’s Growth and Partnerships (2019-2020)

In 2019 and 2020, Tron continued to experience significant growth and expansion, as the platform attracted a growing number of users, developers, and partners.

One of the most significant partnerships during this period was Tron’s collaboration with Opera, a popular web browser. The partnership allowed Opera users to access Tron’s DApps and services directly from the browser, making it easier for users to engage with Tron’s ecosystem.

Tron also continued to expand its capabilities in the gaming space, launching a number of new DApps and platforms for blockchain gaming. These developments included the launch of the Tron Arcade, a $100 million fund for blockchain gaming, and the launch of the TronGameCenter, a platform for game developers to launch their games on the Tron network.

In addition to its continued growth in the gaming space, Tron also began to expand into other areas of the blockchain industry. In 2020, Tron launched a number of decentralized finance (DeFi) protocols and platforms, including JustSwap and Sun.io. These platforms allowed users to exchange tokens and earn rewards on the Tron network, and helped to establish Tron as a major player in the DeFi space.

Tron also continued to forge partnerships and collaborations with key players in the industry, including the acquisition of blockchain data platform CoinPlay in 2020. These partnerships helped to establish Tron as a major player in the blockchain industry and laid the foundation for the platform’s continued success.

Tron’s tokenomics

One of the most important aspects of TRON’s tokenomics is its use in facilitating transactions and paying for network fees. Any transaction or smart contract execution on the TRON blockchain requires TRX to be used as the payment method. This helps ensure that the network remains secure and incentivizes users to hold and use TRX.

Another key aspect of TRON’s tokenomics is the rewards that are distributed to TRX holders. TRON uses a consensus mechanism known as Delegated Proof of Stake (DPoS), in which TRX holders can vote for “super representatives” who are responsible for validating transactions and maintaining the network. Super representatives receive rewards in the form of newly minted TRX, and they are incentivized to share a portion of these rewards with their voters.

TRX is also used as a means of fundraising for new projects built on the TRON blockchain. Startups and developers can launch initial coin offerings (ICOs) and sell their tokens in exchange for TRX. This helps foster innovation on the TRON network and creates new use cases for TRX.

The initial supply of TRX was 100 billion, and at the time of writing, the circulating supply is approximately 91.5 billion TRX. However, new TRX can be created through a mechanism called block rewards, which are given to super representatives who validate transactions on the TRON network. These rewards are currently set at 16 TRX per block and are expected to continue at that rate indefinitely. The maximum supply of TRX is infinite.

Tron (TRX) all-time high

The all-time high (ATH) of TRX’s price occurred on January 5th, 2018, when TRX reached a peak of $0.300363 per token on the Binance exchange. The current price of TRX, as of February 2023, is $0.071645, a decrease of around 4,000% from its all-time high. It is currently the eighteenth-largest cryptocurrency with a market capitalization of $6.5 billion and a twenty-four trading volume of $517 million.

Final thoughts

TRON, as one of the most cutting-edge blockchain initiatives, is revolutionizing how we see the future of the internet and the potential impact of decentralized systems on that future. With a focus on empowering users and creating a more equitable and transparent ecosystem, TRON is opening up new possibilities for content sharing, data privacy, and digital value exchange.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

FAQs

What are TRC10 and TRC20 token standards?

TRC10 and TRC20 are token standards that enable developers to create new tokens on the TRON network. TRC10 tokens are non-fungible and are typically used to represent unique assets, while TRC20 tokens are fungible and are used to represent a specific unit of value.

Can TRON be used for gaming and other entertainment applications?

Yes, TRON is well-suited for gaming and other entertainment applications due to its fast transaction processing and scalability.

How can I get involved with TRON's community?

TRON's community is active and engaged, with regular hackathons, meetups, and other events that foster collaboration and innovation. To get involved, you can join the TRON subreddit, follow TRON on social media, or participate in online forums and discussions.

Damilola Lawrence

Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

Related News

Hot Stories

Elizabeth Warren builds her re-election campaign on the back of crypto regulation
ChainLink price analysis: LINK obtains bearish momentum at $7.2
Bitcoin price analysis: BTC surges above $28,000 as bullish activity grows
Matt Damon breaks silence on controversial CryptoCom ad
Polkadot price analysis: DOT stumbles at $6.15 as bears take over

Follow Us

Industry News

Elizabeth Warren builds her re-election campaign on the back of crypto regulation
Matt Damon breaks silence on controversial CryptoCom ad
Sam Bankman-Fried to plead not guilty to campaign financing and bribery charges
Japan launches expert panel to explore the feasibility of digital Yen
Industry leaders call for KYC measures to tackle "biggest issue" in DeFi

Add Your Heading Text Here