- A Trip down Tron’s eventful past and a look at key developments.
- A look at the main events that set Tron apart from the competition.
The Tron blockchain has achieved significant milestones so far this year. It is so far one of the most successful networks based on key markers such as TVL, user growth, utility, and development.
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While attention has focused on Tron’s recent achievements, it is worth noting that it attributes its growth to a strong foundation. The latter was underpinned by the involvement of other major protocols and products.
The decentralization factor
Tron is already a well-established layer 1 blockchain network that has a slew of products. However, many people might not know about its humble beginnings as An ERC20 token on the Ethereum network. This allowed the network to be decentralized from the get-go.
Tron DAO was formed 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 because it demonstrated a commitment to ensuring decentralization.
The BitTorrent acquisition allowed it to continue its operations and it was one of the ways that the Tron network could give back to the community. Its latest report revealed healthy figures including total revenue which recently peaked at 21,369 BTT.
This equates to roughly $9.97 million at present market value. Storage contracts recently crossed the 117 million milestone and 7.1 million total miners.
?️#BTFS Weekly Report
✅Total miners exceeded 7.1 Million
✅Total Storage Contracts exceeded 117 Million
✅Total Revenue exceeded 21369 Billion $BTT pic.twitter.com/HToJHp59KZ— BitTorrent (@BitTorrent) August 24, 2023
A blockchain for country systems?
Many countries aim to achieve the ultimate level of democracy. Imagine a future where blockchain systems help in achieving this while also being used to run government systems.
There is no doubt that a country that adopts decentralized systems would technically be able to achieve more trust among its citizens. This is because it would allow the said country to leverage trustless, immutable, and transparent systems.
The idea of countries adopting blockchain networks is quite interesting, especially considering the scale of adoption. All it takes is one country to start and more follow over time. This is why the announcement that the Dominican Republic was embracing the Tron network remains one of the most exciting things to happen in the blockchain industry this year.
?️#BTFS Weekly Report
✅Total miners exceeded 7.1 Million
✅Total Storage Contracts exceeded 117 Million
✅Total Revenue exceeded 21369 Billion $BTT pic.twitter.com/HToJHp59KZ— BitTorrent (@BitTorrent) August 24, 2023
Tron will likely be on the top of the list of countries planning to embrace blockchain technology in the future. This however depends on a multitude of factors, among them including the Dominican Republic’s success in implementing Tron’s technology with 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 offers an extra layer of appeal for projects looking for the ideal blockchain on which to deploy their protocols.
Let’s explore #TRON IDE, an Integrated Development Environment designed to make developing easy. ?️?
Through TRON IDE, you can write, test, and deploy smart contracts seamlessly. So whether you’re a seasoned developer or just starting, TRON IDE allows you to bring your ideas to… pic.twitter.com/fEuVvyNp9V
— TRON DAO (@trondao) August 24, 2023
Tron already has a streamlined system for helping in the process of developing and deploying smart contracts.
How many are 1,10,100 TRXs worth today
Based on the above information, we can conclude that Tron’s past adds a character to its story just as much as its recent achievements. It has even inspired more projects to follow a similar path.
Shiba Inu is an example considering its Shibarium plans and the fact that it also has its origins on the Ethereum blockchain just like Tron.
