The post TRON H1 2024: From Stablecoins to Bitcoin and Beyond appeared on BitcoinEthereumNews.com.

Launched in 2017, TRON was originally positioned as an Ethereum killer. While all Ethereum killers failed to kill Vitalik’s brainchild, TRON managed to take away the leadership in the realm of stablecoin transfers. Let’s understand what happened in TRON over the last six months and in which direction it is developing. Key Findings: Stablecoin Dominance: TRON’s network holds about 53.7% of the total USDT supply, making it a leading platform for stablecoin transactions. Ecosystem Scale: TRON’s overall TVL exceeds $22 billion, while DeFi’s TVL stabilizes at $8 billion with the significant dominance of JustLend. Future Prospects: TRON focuses on enhancing stablecoin payments and providing Bitcoin integration, including the development of its own Bitcoin Layer 2 solution and gasless stablecoin transfers. Specifics of TRON Chain The TRON blockchain uses the Delegated Proof-of-Stake (DPoS) consensus algorithm. It is a consensus mechanism where stakeholders elect a small number of delegates to validate transactions and secure the network on their behalf. Blocks are generated every 3 seconds, and the maximum network performance is 2,000 transactions per second.  There are three layers in the TRON architecture: Core Layer: Manages the TRON’s consensus mechanism, accounts, TRON Virtual Machine (TVM), and runs Solidity-based smart contracts. Storage Layer: Optimize data storage and data segmentation, prioritizing security and stability. Application Layer: Facilitate the creation of decentralized applications. TRX Token Overview The TRX token is the native utility cryptocurrency of the TRON blockchain. Initially launched as an ERC-20 token on Ethereum during its 2017 ICO, $TRX had a total issuance of 100 billion tokens. These were allocated as follows: 40% for the public token sale, 15% for a closed pre-sale, and 35% to the project’s reserve fund. Subsequently, all ERC-20 tokens were converted to native $TRX on the TRON blockchain. Periodically, the total supply is reduced by burning events and currently stands at…

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Filed under: News - @ August 6, 2024 10:08 am