TRON (TRX) – Hype Train Leaving Station

TRON (TRX) – Hype Train Leaving Station

Introduction

TRON is another blockchain dApp platform. Similar to NEO, the platform aims to support multiple programming languages for dApp development. The goal is provide a network that can outperform competitors in terms of output, scalability and reliability.

Fundamentals

In its original whitepaper, the TRON ecosystem was proposed as being comprised of three platforms: social media, blockchain for contracts and consensus, and a P2P based storage platform for the network and data.
Given the fact that the previous white paper contained plagiarised information, it is assumed that any information from that source is considered outdated and will be disregarded. The updated information provided by the TRON webpage cannot be considered as an improvement, As grammatical errors and lack of detail make the documents difficult to understand. However, this is not surprising as it is not new knowledge that the price movement behind TRX is largely based on consumer expectations and not fundamentals. It did bring in a profit margin of 3900% for early investors.

There is no longer a standard white paper format like the previous whitepaper that was condemned, but the information is now spread out between 3 separate pdf documents.

According to the provided information, the architecture has been re-organized and slightly modified as shown below:

TRON’s network architecture visualized as described.

TRON will operate in a similar manner to other blockchain platform designs, built to support dApps. Java will be the native smart contract language for TRON, but the ecosystem is not limited by a single language. TRON’s protocol is defined by google protobuf, and will support multi-language extensions.

TRON’s core layer will manage accounts and smart contracts. A stack-based VM will be implemented with an optimized instruction set. The consensus mechanism is based on DPOS, using the voting system and witnesses.

A blockchain explorer will provide detailed information regarding node deployment and real-time operation of the TRON network

According to the provided documentation on the project website, “for its storage structure, TRON uses a storage protocol involving both block storage and state storage. KhaosDB is the full-node memory and is able to store a new “folk chain” [sic] during a certain time and will support the network’s witnesses in the process of switching their own active chain into the main chain.”

As previously mentioned, the grammatical mistakes and wording has not been helpful towards understanding the platform design. Assuming “folk-chain” is a misspelling of fork-chain, the documentations must be referring to the child chain that is created when a user creates a custom token on the TRX platform. Another misspelt term could be found in the available documentation, as “serval parameters”, which can only be interpreted as several for the documentation to make sense.

Even with grammatical errors being disregarded in translation, the lack of detail clearly explaining platform mechanisms can be regarded as alarming. The usage of vague verbalage such as “during certain times” and optimistic goals with no clear plan makes the TRON documentation read more like a wishlist.

Community

Members who participate in code writing or developing progress of the TRON network will be rewarded TRONIX or other forms of rewards after estimations by the network’s committee.

Protocol

TRON’s protocol is defined by Google’s protobuf and contains a range of layers, from accounts and blocks to transfer. There are 3 basic account types:
Basic account, asset release account, and contract account. The default attributes included in each account are name, types, address, balance and related assets.

A basic account can apply to be a validation node, which includes parameters and extra attributes such as public key, URL, voting statistics, performance history, etc.

User tokens

Users employing the use of TRX’s TKC (token configuration) functions can customize their own token with adjustable parameters including token name, abbreviation, LOGO, total cap, exchange rate vs TRX, starting/expiration date, etc. Default parameters are provided by the system if aren’t set by user.

User tokens can be issued after parameter customization and validation by TRON witnesses are completed.

Token

ERC-20 TRON tokens will be exchanged 1:1 for TRX before the launch of main net.

TRX holders are required to vote for nodes “in accordance to their coins that have voting rights”. Nodes are selected to become “witnesses” based on votes and rules. Witnesses will produce valid blocks successively based on specific distribution rules, with success resulting in higher rewards.

A ratio of balance will be kept, with the majority of witnesses chosen by voters, and the rest being determined by a random algorithm.

It is stated that users or voters that were voted out are paid a sum of money as encouragement to run for further elections. The implication is that witnesses are voted into and out of the status on a regular basis.

Team

Justin Sun

Justin Sun
Founder and CEO of TRON
Justin Sun is the only TRON team member with publicly available information. He boasts a Master’s degree from University of Pennsylvania, and was the former chief representative for Greater China of Ripple. He is affiliated with Alibaba’s Jack Ma.