Ok, I know it's been awhile since I've done a thread...and a lot of you are probably gonna wonder why the heck I'd do a thread on THIS...but, lemme 'splain.
I was very actively looking for a job in Web3 and putting my resume EVERYWHERE...
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...and one of the companies I applied with was #Tron.
This prompted me to look deeper into it, since I'm a really big fan of functional L1's and currently the #defi space has left me jaded on ponzi protocols with no real utility.
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And look, Tron is actually a pretty huge player, especially in Asia. Anyway, so for anyone that maybe hasn't cared to look deeper into $TRX and Tron, here's a thread.
(And if you think the chain is dead no worries, you don't have to read this, lol)
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First, let's start off with some facts.
My interest in Tron actually didn't START with the job application.
It started back when I was doing research on $FTM and comparing txns per day to $ETH.
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Ya'll remember when the #fantomfam was posting about how #fantom had more txns per day than #ethereum? As if Ethereum was the standard.
When I dove deeper, I discovered that Tron actually wins in that department.
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Tron has, as far as I can tell from my research, the most daily transactions. Just in the last three days it's processed over 6mil txns EACH DAY.
That's more than #BSC, #Solana, etc.
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Also, according to tronscan, Tron has 12.1 billion TVL.
@DefiLlama puts it at 5.6 billion, but either way, that's still #2 in TVL, just below Ethereum.
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Tron's got a 5.6 billion mcap according to @coingecko.
If you take that figure and use tronscan's 12.1 b TVL figure, then the ratio is 0.46. Remember, less than 1 is GOOD!
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Time to finality is 3 seconds, and Tron network processes 2000 TPS.
Also, there are a little over 100mil accounts on Tron network, putting it at roughly half that of Ethereum.
By all accounts, Tron is a major L1 contender.
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Despite this, it has only about 568 dapps compared to 2800+ on Ethereum or 3k+ on BSC (or 37k on Polygon)
With so few protocols, this may be one of the reasons many people don't utilize Tron network
Be that as it may, there is currently more $USDT on Tron than Ethereum
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So what exactly IS Tron?
Justin Sun (Tron Foundation) founded Tron in 2017 as a means to decentralize media. The initial aim and interest for Tron network was to cut out middlemen and give users direct access to content and media from their creators.
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This aim is what motivated Tronās acquisition of peer-to-peer file sharing service Bittorrent.
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Tronās architecture is very similar to Ethereumās. It has itās own virtual machine TVM, which is EVM compatible, and even runs smart contracts written in Solidity.
The striking similarities have also caused others to accuse Tron of plagiarism.
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Tron utilizes a 3-layer architecture: the core layer, which handles txn validation and reading smart contracts (among other things), a storage layer for blockchain and state storage, and an application layer.
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Where Tron differs from Ethereum greatly (until recently) is the consensus mechanism, which uses Delegate Proof of Stake.
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Protocols on Tron:
Sunswap
JustLend
Tron Bank
ApeNFT
more..
They cover the whole gamut: wallets, lending, borrowing, staking, liquidity providing, NFTs, gaming, etc.
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Since Tron is more focused on entertainment, it has attracted a focus in the dapps built on the network centered around gaming and gambling primarily.
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So why isnāt Tron more popular?
Justin Sun has a shaky reputation having gotten much press over alleged pump and dump schemes, among other things.
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Tron also held its popularity primarily in Asia, which given the difficulty in the region with regulation regarding crypto may have stifled Tron āmoving overā to the US at a quicker pace.
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Who knows if Tron will inch out ahead of some of the recent innovative contenders. But either way, Tron devs are still building, and the network is still being used.
Time will tell what it's future is.
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