TRON: A look at ambitious project that aims to build the largest decentralized entertainment ecosystem

TRON is ambitious project dedicated to building the infrastructure for truly decentralized internet. It is a decentralized content entertainment ecosystem. It is nothing but P2P version of iTunes or Google play store. TRON is one of the largest blockchain systems in the world which offers high scalability, high throughput and high reliability. TRON is a next generation social media outlet on which you can create and share content with people all over the world. It is a decentralized content entertainment ecosystem which allows user to freely publish, store and own data. The creators of digital content can receive revenue directly from their users and consumers.

Architecture:

TRON adopts a three layer architecture:

1. Social media platform - application layer which includes dAPP and wallet.
   
2. Block chain platform- Core layer which includes smart contracts, account management and consensus. Java was chosen as smart contract language followed by future support of other advanced language. Smart contract module of TRON allows user to customize contracts to their own needs.
   
3. P2P based distributed storage layer- Storage layer which includes block storage and state storage. It has graph database to meet the diverse needs.

TRON Protocol:

Protocol used by TRON is Protobuf (Protocol buffers). The protocol of TRON is defined by Google Protobuf and contains range of layers, from account, block to transfer.

Google developed Protocol Buffers for use in internal service. The Protocol Buffers specification is implemented in various languages : Java,C, Go etc. all are supported (muliti language).

The protocol of TRON has three types of accounts- Normal, Asset issue and Contract account.

Consensus Mechanism:

TRON adopts a refined consensus mechanism to achieve higher Transaction Per Second (TPS). Delegated Proof of Stake (DPOS) is the fastest, efficient and decentralized POS mechanism. It uses a reputation system and real time voting to achieve consensus. In Delegated POS community members vote for super representatives and super representatives will produce valid blocks successively based on specific distribution rules and success to do so results in highest reward.

TRON network Structure:

It has three types of nodes namely:

1. Witness- which is responsible for block production.
   
2. FullNode- Provides API (Application Programme Interface), broadcasts transaction and blocks.
   
3. Solidity Node - reports validated and non-reversible transactions

TRON transaction Model:

TRON uses Unspent Transaction Output (UTXO) model. It is similar model which Bitcoin uses. Each transaction spends output form prior transactions and generates new outputs. All unspent transactions are kept in node.

Technical Characteristic

Recent News and Update:

TRON token migration from ERC20 token protocol to the TRON mainnet was initiated on Jun 21st 2018.It is going smoothly without any issues or problem. It already has 350 nodes and block height of 9,294,675 were migrated already. The migration has been supported by various big exchanges and 3 exchanges to support permanent token migration:

1. Binance
   
2. Gate.io
   
3. Max

Tron BitTorrent Acquisition:

Tron founder Justin Sun has officially announced the acquisition of peer-peer file sharing platform BitTorrent.It is expected that TRON’s acquisition of BitTorrent will bring 100 million of users for the company.

In his official blog, Sun announced that TRON has successfully acquired BitTorrent and BitTorrent products

“Through this acquisition, BitTorrent and TRON will combine forces, with the TRON US team merging with the BitTorrent team,” Sun wrote. “With the integration of BitTorrent, TRON aims to liberate the Internet from the stranglehold of large corporations, give data rights back to the individual, and reignite the early 21st century vision of a free, transparent, decentralized network to connect the world, because the internet belongs to the people.”

Tron Virtual Machine (TVM)

The Tron Virtual Machine (TVM) was launched for developers on Jul 30th and the test version will available till Aug 30.

Tron virtual machine will support various programming languages and will be acting as gateway between Ethereum platform and that of Tron.

Tronwallet:

Tron has launched Tronwallet application for Android

TronWallet is now available on Android! Send, receive, freeze $TRX, vote for the Super Representatives, participate in token sales from your phone with this decentralized wallet built by Getty/IO! iOS version available soon, more info on @TronWalletMe https://t.co/QS4SdIB9ru

— TRON Foundation (@Tron foundation) July 31, 2018

Technicals:

The pair has formed almost a double top near $0.0445 and shown a minor decline from that level. The major resistance is around $0.0415 (55- day EMA) and any break above will take the pair to next level till $0.0508 (200- day MA)/$0.0544 (100- day MA).

The near term major support is around $0.0310 and any break below targets $0.0250/$0.02280.

It is good to buy on dips around $0.0310 with SL around$0.0250 for the TP of $0.0500/$0.0535.