$TRX

A Brief History of TRON

TRON is a decentralised entertainment-focused blockchain and content-sharing network. Justin Sun, who formerly worked for Ripple as a chief representative, founded the TRON blockchain network in September 2017. The TRON Foundation raised US$70 million in 2017 through its ICO.

The project’s testnet, blockchain explorer, and web wallet launched in March 2018, while its mainnet launched in May 2018. Soon after launch, TRON ranked among the top 10 cryptocurrencies during many parts of 2018.

TRON has since acquired three organisations: file-sharing provider BitTorrent in June 2018, blockchain app store CoinPlay in March 2019, and blockchain-based social network Steemit in February 2020.

In June 2018, TRON switched its protocol from ERC20 to an independent peer-to-peer network, with the TRON DAO gradually burning ERC20-based TRX tokens in the process. As of the recent updates, the total number of ERC20 TRX burned is 99,188,397,993.45, accounting for 99.19% of the total supply.

TRON provides a decentralised virtual machine that may run a programme by using an international network of public nodes. The network has no transaction fees and can handle up to 2,000 transactions per second. TRON's core technology will be built on adapting IPFS and Ethereum's platform.

TRON had been recently attacked for plagiarism regarding its white paper. In response to allegations, Justin Sun claimed that the translation of TRON’s whitepaper was done by volunteers and that their carelessness resulted in the issues on the project’s paper.