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TRON’s Mission to Create an Internet for All, Defining Decentralization

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Tron’s Mission To Create An Internet For All, Defining Decentralization

Geneva, Switzerland / July 27 / – TRON was established in 2017 with the vision to decentralize the web, and it has aligned its mission to follow that purpose over the last five years.

For most blockchains, decentralization is a central theme. It’s a form of administration that delegates power to individuals; as a result, users are able to contribute to and own a piece of the network.

The four elements of TRON’s decentralized architecture are the protocol, nodes, assets, and dApps. Decentralization encourages putting the power in the hands of the people, which is why TRON took its commitment to decentralization to the next stage in December 2021, by dissolving its foundation and establishing itself as a community-governed Decentralized Autonomous Organization (DAO).

Decentralization of the Protocol

TRON aims to empower developers and users to create and share content without limitations. It uses the Delegated Proof-of-Stake (DPoS) consensus mechanism to manage its blockchain. Only elected nodes can approve transaction blocks, unlike a PoS system, which allows anybody with enough assets staked to do so. This structure enables users to safeguard the network by delegating their staked assets through a mechanism of incentives.

Every blockchain network uses a consensus mechanism, and DPoS is one of the most efficient consensus algorithms available. DPoS consumes less energy and completes transactions faster than PoW (Proof-of-Work) or traditional PoS systems. Every six hours, the TRON community elects 27 block validators to serve as “Super Representatives” (SRs) in the ecosystem.

Due to the numerous advantages, many blockchains have transitioned to a DPoS mechanism to power their networks. Regardless of the amount of staked TRX or how many votes SRs receive, each SR has identical voting power on the TRON network, ensuring that the governing percentage per SR is equally balanced.

Decentralization of Nodes

Nodes are the foundation of every blockchain network. As a result, any examination of decentralization must evaluate them. TRON’s geographical diversity in nodes makes it more secure and durable.

Decentralization of Assets

The distribution of native assets, as well as their availability, also contributes to the blockchain’s decentralization. The amount of TRX wallets has risen at a tremendous pace with a 134% increase in one year, from about 26 million in July 2021 to over 61 million by July 2022. The network’s popularity and user base grow with more TRON wallet users and will continue to contribute to the network’s decentralization. Today there are over 100 million user accounts on the network, and the number of users is growing daily. 

Decentralization of dApps

The number of dApps, smart contracts, and users is also noteworthy for decentralization.

The TRON Grand Hackathon is an outstanding opportunity for budding entrepreneurs and their ideas to grow the TRON network. The various projects submitted during the Hackathon contribute to the diversification of the ecosystem by providing numerous dApps that continue to develop it. 

To learn more about TRON’s decentralization and review what the historical data shows, read the “A Deep Dive Into Decentralization” report on https://trondao.org/blog/ . 

About TRON DAO

TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of July 2022, it has over 104 million total user accounts on the blockchain, more than 3.6 billion total transactions, and over $11 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.

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Feroz Lakhani
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Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. The NewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Strength In U.S. Dollar May Have Killed Bullish Momentum In Crypto?

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Bitcoin Miners Send 14K Btc To One Block. Bullish News For The Market?

The crypto market has been losing momentum as the price of Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) start trading in the red. The largest cryptocurrencies by market cap might experience further losses as macro-economic factors keep exercising a negative influence on risk-on assets.

At the time of writing, the crypto total market cap stands at $1.09 trillion after experiencing rejection at the $1.2 trillion mark. This has led to minor losses for Bitcoin (2.2%), and Binance Coin (7%), only Ethereum has been able to preserve some of its last week’s gains.

BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview

Analyst Justin Bennett believes the crypto market has been negatively impacted by the uptrend in U.S. dollars. The currency saw a major push to the upside at the start of 2022 on its monthly chart and seems to be attempting to reclaim 2022 levels on higher timeframes.

This could translate into more losses for risk-on assets, such as equities and cryptocurrencies; more economic uncertainty as inflation trends higher in decades; less liquidity across global financial markets. Bennett said the following while sharing the chart below:

Expect #stocks and crypto to struggle while the US dollar is doing this. The $DXY just took out 107 on its way to 107.40. I still think we see 112-113. Be careful out there (…). The trend is your friend…unless it’s the $DXY. 112-113 first, but most likely 120 in the next few months. USD up means risk assets down.

Crypto Dxy Jb 1
DXY Index (U.S. Dollar) breaking above important resistance on the monthly chart. Source: Justin Bennett

The largest crypto by market cap, Bitcoin, saw a yearly low at around $17,600. As NewsBTC reported, Fidelity’s Director of Macro Jurrien Timmer believes this level is on par with the cryptocurrency’s previous bottoms and expects that price point to operate as critical support.

Will Macro Economic Factors Break A Critical Support For Crypto

Using BTC’s Supply and Demand models, Timmer compared $17,600 with $3,100 and $200, two major support zones for Bitcoin even in persistent downside trends. The expert said the following on BTC’s capacity to see more appreciation in the long term, bullish momentum that will surely push the entire crypto market upwards:

Bitcoin’s price-to-network ratio (my proxy for a valuation multiple) is back to 2014 levels. Meanwhile, its network continues to grow, roughly in line with a power regression curve.

Bitcoin Btc Btcusdt Fidelity 2
Source: Jurrien Timmer via Twitter

In contrast, Bennett expects more losses for BTC’s price and the crypto market. The first crypto by market cap could bottom between $9,500 to $13,500.

The expert bearish thesis is based on the U.S. Federal Reserve (Fed) current monetary policy. The financial institution is set on stopping inflation from going higher and will continue to increase interest rates, Bennett believes, to achieve that goal.

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Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge

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Ethereum Price Slides As Staked Token Reaches New Ath Ahead Of Hyped Merge

Despite changes in the asset’s price, Ethereum is steadily adding to the ETH 2.0 staking contract.

According to the development team, this occurs about a month before the Merge is scheduled to occur.

Ethereum Staked Token Hit New ATH

According to Dune Analytics data, more over 13.2 million ETH have been deposited to the staking contract, however there are only about 80,000 unique depositors.

ETH Staked on ETH 2.0 Contract. Source: Delphi Digital

The graph above shows how ETH’s amount locked in the staking contract has gradually increased and reached a new all-time high in terms of ether.

A far cry from the peak reached last year, when ETH was close to $5,000, the USD value had soared to just shy of $24 billion.

The remarkable results come as the Ethereum development team continues to provide updates on the progress of the switch from PoW to PoS.

The most anticipated event in the bitcoin sector this year is referred to as the Merge.

Among other advantages, it should make Ethereum less energy-intensive and increase the network’s durability.

Numerous well-known crypto insiders predict that it will significantly affect the price of ETH. According to recent claims made by Arthur Hayes, it might increase the asset’s USD valuation in a manner comparable to BTC’s halving.

On the other hand, Mark Cuban cautioned that the Merge might initially be a “sell-the-news” event but thinks it’s a good move overall.

Price Have Began To Slide

According to the weekly shift in the Ether-Bitcoin cross rate, Christophe Barraud, chief economist, strategist, and top forecaster at Bloomberg, Ethereum is poised to lose ground against Bitcoin for the first time in seven weeks.

Ethereum

ETH/USD trades at $1,800. Source: TradingView

After the Consumer Price Index (CPI) or inflation data report came in better than expected, Ethereum has outperformed Bitcoin in recovery despite the decline relative to BTC as both remain highly correlated with the S&P 500 stocks, according to a report published on August 17 by the on-chain social metrics platform Santiment.

Featured image from Pixabay, Chart from TradingView.com, Delphi Digital

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Tether Announces Hiring of Fifth Largest Accounting Firm For Audits

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Tether Tokens Usdt Will Be Available On Tezos