By challenging the prevailing status quo to decentralize the internet, TRON has come a long way since its ambitious launch three years ago. It possesses a couple of advantages due to its high speed, low fees, and massive scalability. It is capable of processing transactions speedily than Ethereum as it uses the delegated Proof of Consensus mechanism. The ultimate aim of TRON is to build a strong global digital content entertainment system with distributed storage technology for cost-effective sharing of content.
It is currently the largest decentralized ecosystem in the world with over 100 million users. TRON’s main business areas are cryptocurrency, blockchain technology, Dapps, and peer-to-peer file sharing.
It also has an exclusive virtual machine for deploying smart contracts and building new Dapps. TRX is the digital currency for TRON. TRX allows the developers of Dapps to create TRC10 and TRC20 tokens on the TRON blockchain network.
The major services in TRON DAPP development include TRC10 and TRC20 token development, TRON wallet integration, node setup, smart contract development and decentralized exchange creation.
➼ Data liberation - The uncontrolled flow of data in the platform allows users to easily review and export their data which would prove to be handy while distributing their digital assets.
➼ Can be used as a medium of exchange - Just like Bitcoin, TRX can also be used to pay for availing various products and services. Any user of the TRON wallet can send and receive TRX.
➼ Can be utilized for obtaining rights and privileges - Every holder of a TRX coin can exercise his vote during the TRON elections.
➼ Supports multiple languages - By adhering entirely to the Google Protobuf, TRON supports code generated in numerous languages such as Python, C, C++, and Java.
➼ Ensures faster processing of transactions - The costs involved in power consumption are significantly reduced which leads to lesser strain on the system ensuring safe transactions. Its speed is higher than the range of Ethereum and Bitcoin. This ensures high throughput for TRON.
➼ Quick scalability - By allowing an enormous amount of users to access its platform, TRON is highly scalable due to its robust smart contract and it can be used in different industries in a variety of ways.
➼ Adequate storage facilities - TRON has two storage layers in its platforms namely the block and state storage. It consists of two types, KhaosDB and LevelDB.
⇝ Gaming - Players can earn valuable cryptocurrencies by playing games on the TRON blockchain network. The games mainly relate to casino and gambling. Some of the popular games on TRON include Crop Bytes, Aftermath Islands, Magic Academy and Eggies World.
⇝ Fund management - Direct token transactions for payments and for playing games can be executed via the Guild wallet for desktop users. Mobile users have access to the Math wallet which is a multi-platform cross-chain wallet that supports close to 38 public chain ecosystems.
⇝ Content creation - Exodus is a free platform for storage of content using a peer to peer distribution mechanism. It supports the acceptance of multiple cryptocurrencies.
⇝ TRON BOX - It is a compilation of all the available smart contracts on the platform and configures the entire project to prepare the full node. It can be quickly set up and launched from the terminal. It compiles, migrates and tests the network.
⇝ TRON Grid - It renders an API interface into the TRON network. This permits the interested developers to access the important tools and develop the decentralized applications on the TRON protocol.
➼ Creation of an account before developing your business idea - Get to know how to use the TRONlink Chrome wallet for connecting to the TRON blockchain network easily. Select your network as Shasta which is the official testnet for TRON. Request some Trx coins for starting your Dapp on TRON. Copy and paste your account address to receive the Trx coins. Once you configure the TRONBOX, write down the address where the contracts were deployed to. Learn how to code in the Solidity programming language. This will allow your Dapp to interact with the TRON blockchain network.
➼ Develop smart contracts - Establish smart contracts for monitoring the operations without human intervention.
➼ Create tokens - Develop tokens on the TRON platform either on TRC10 or TRC20 token standards.
➼ Install the necessary development tools - Take steps to install the development applications after reading all the relevant developer documents thoroughly.
➼ Set up the API’s - Install the needed API’s for customizing and building your Dapp.
It has a strong future ahead and will make significant inroads in the cryptocurrency industry by pocketing a heavy market capitalization. Six stages have been planned by TRON till 2027. The six stages are Exodus, Odyssey, Great Voyage, Apollo, Star Trek, and Eternity. Its price has been steadily rising despite high volatility in the crypto industry. By promising complete decentralization and an open-source platform, it wants to challenge big online titans such as Google, Facebook, YouTube, Apple, and Amazon as they follow the strategy of centralized management in handling online media.
By having influential investors behind all its major projects, its execution has been well thought out. It is a game-changer as it facilitates buying and selling of digital content without the presence of any intermediaries. It needs to prove the safety of its proof of delegated stake mechanism. By supporting content creators directly for their efforts, TRON ticks the right boxes by being a store of value, an investment opportunity and a hub for trading other currencies.