TRON is a Blockchain-based decentralized operating system based on the native cryptocurrency, TRX. The TRON protocol, majorly maintained by Tron Foundation, distributes computing resources equally among TRX holders with internal pricing mechanisms such as bandwidth and energy. TRON provides a decentralized virtual machine, which can execute a program using an international network of public nodes. The network has zero transaction fees and conducts ~2000 transactions per second.
On July 25, 2018, TRON Foundation announced it has finished the acquisition of Bittorrent, the biggest peer-to-peer file sharing network.... Upon this acquisition, on August, 2018, BitTorrent Founder Bram Cohen also disclosed that he has left the company to found Chia, an alternative to bitcoin created to be a less energy-intensive cryptocurrency.
After cancellation of a dramatic charity lunch with Warren Buffett in July 2019, TRON's fate started to become more obscure since the founder and the organization behind it suffered more public embarrassment.
History[edit | edit source]
Since then, the organization has been beset by allegations of plagiarism. The white paper of TRON was accused of plagiarism widely. Tron Foundation denied plagiarism, saying it warned investors of potential scams using its likeness. Researchers from Digital Asset Research (DAR) have discovered multiple instances of code copied from other projects in the Tron code base. It is also accused of violating the GNU Lesser General Public License v3.0 (LGPL) because the project does not mention that its client, Java-Tron, was derived from EthereumJ, which is one of the first Ethereum libraries. Such accusations were either denied by Tron Foundation, the organization behind the design of the system.
In 2018, TRON switched it's protocol from a ERC-20 token on top of Ethereum, to an independent peer-to-peer network. After that, marketed to rival Ethereum, TRON has boomed in market cap during the early of the year and then became the top 10 cryptocurrency, worth more than $2 billion by January,2019. Even with the market performance, TRON was not selected as top 10 most important cryptocurrency other than Bitcoin, some authors thought TRON is a very typical case to reflect the complex and disorder nature of cryptocurrencies.
In February 2019, after being acquired by Tron Foundation, BitTorrent started its own token sale based on the TRON network. The internet community responded in a polarized way, many industry analysts including former staffs from Tron Foundation, believe, "it’s unlikely Tron can actually execute transactions at the rate needed to make a tokenized BitTorrent work"
In May, 2019, cyber-security testing service HackerOne revealed that just one computer could have brought TRON’s entire blockchain to a screeching halt. The revelation shows a barrage of requests sent by a single PC could be used to squeeze the power of the blockchain's CPU, overload the memory, and perform a distributed denial-of-service (DDoS) attack.
Architecture[edit | edit source]
Tron defines a proof-of-stakes architecture. The implementations of TRON foster minimal transaction fees to prevent malicious users to perform DDoS attacks for free. In this respect, EOS.IO and TRON are quite similar, due to the nonexistent fee, high transactions per second and high reliability, and regarded as new generation of blockchain system.
Governance[edit | edit source]
The TRON community votes for 27 Super Representatives, who then generate and validate blocks within a 3 second block time, through a decentralized autonomous organization. Super Representatives are re-elected every 6 hours. The 27 Super Representatives also govern the network by proposing and voting for TIP (TRON Improvement Proposal) in TRON committee.
References[edit | edit source]
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- Stevenson, Alexandra; Li, Cao (2019-07-24). "Who Cancels Lunch With Warren Buffett? A Chinese Tycoon Did, but Why?". The New York Times. ISSN 0362-4331. Retrieved 2019-08-26.
- Russolillo, Stella Yifan Xie and Steven. "'Excessive Self-Promotion': Justin Sun Apologizes After Postponing Charity Lunch With Warren Buffett". WSJ. Retrieved 2019-08-26.
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- Stosic, Darko; Stosic, Dusan; Ludermir, Teresa B.; Stosic, Tatijana (2019-07-01). "Exploring disorder and complexity in the cryptocurrency space". Physica A: Statistical Mechanics and its Applications. 525: 548–556. doi:10.1016/j.physa.2019.03.091. ISSN 0378-4371.
- Poyser, Obryan (2018-06-29). "Herding behavior in cryptocurrency markets".
- Clark, Bryan (2019-01-03). "BitTorrent just launched a TRON-based cryptocurrency token". Hard Fork | The Next Web. Retrieved 2019-08-26.
- "BitTorrent unveils cryptocurrency so users can pay for faster download times". VentureBeat. 2019-01-03. Retrieved 2019-09-01.
- "Former BitTorrent Exec Says There's "No Way" Its Token Can Run on Tron". BREAKERMAG. 2019-01-11. Retrieved 2019-08-26.
- "Tron Foundation disclosed on HackerOne: DOS attack by consuming all..." HackerOne. Retrieved 2019-08-31.
- Canellis, David (2019-05-06). "TRON suffered from a critical bug that could've crashed its entire blockchain". Hard Fork | The Next Web. Retrieved 2019-08-31.
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- De Renzis, Alan; Arias, Maximiliano; Garriga, Martin (2018-11-29). "Blockchain and Cryptocurrency: A comparative framework of the main Architectural Drivers".
- Valdeolmillos, Diego; Mezquita, Yeray; González-Briones, Alfonso; Prieto, Javier; Corchado, Juan Manuel (2020). Prieto, Javier; Das, Ashok Kumar; Ferretti, Stefano; Pinto, António; Corchado, Juan Manuel, eds. "Blockchain Technology: A Review of the Current Challenges of Cryptocurrency". Blockchain and Applications. Advances in Intelligent Systems and Computing. Springer International Publishing: 153–160. doi:10.1007/978-3-030-23813-1_19. ISBN 9783030238131.
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