Chinese Blockchain Platform Focuses on Trust and Decentralization
We believe in the three major values, which are also the foundation for Internet 4.0: trustworthy decentralized applications, blockchain enabled smart contracts and digital values.”
— Justin Sun, Founder of TRON
TORONTO, ONTARIO, CANADA, January 25, 2018 — TRON, the Chinese blockchain platform that established the concept of a shared economy in digital entertainment with a world market valued at $ 1 trillion, today announced the latest progress of Exodus, showing that the main network functions were all set, and will be launched on March 31. This should be the second important upgrade after the open source on December 29, 2017.
The leader of TRON’s technical department, Chen Zhiqiang, integrated the advantages of multiple blockchain systems and proposed and realized the following core functions:
1. With UTXO-based trading models, history transactions can be transparently tracked through the public ledger. UTXO boots concurrent processing capability and enhances network performance. Create the concept of transaction account that is consistent with the real-world application through abstraction based on UTXO technology.
2. Achieve over 1 thousand transactions per second with PoS-based TBFT consensus mechanism which adjusts the account takers of a transaction according to the speed and delay of the block.
3. Support ultra-low fee transfer (10e-6 TRX per transfer).
4. Provide a secure execution environment for smart contract byte-code with TRON virtual machine (TVM). TVM has following advantages: lightweight, fast loading, resource isolation, high scalability etc.
5. Support smart contracts are written in programming languages such as Java. Compile them into TVM byte-code with TRON compiler for high execution performance.
6. Provide common ABCI (Application Blockchain Interface) with consensus engine and Blockchain state machine loosely-coupled architecture.
7. Provide distributed network management and monitoring utilities. Visualize TRON operations and performance to easily track the status and potential risks.
TRON is a decentralized content protocol on the basis of blockchain, whose purpose is to establish a worldwide free-content entertainment system through blockchain and distributed storage technology. This protocol enables every user to distribute, store and own data freely; meanwhile, under decentralized autonomy, it could determine the distribution, subscription, and push of contents by means of digital asset distribution, circulation and transaction, enable content creators and finally form a decentralized content entertainment ecology.
TRON introduces the concept of “distributed economy” into digital entertainment and creates a new era in online entertainment. The token – TRX is already working with 300,000 holders from around the world. The project expands the capabilities of digital entertainment platforms, including online casinos, gaming, social networks and online shows, offering reliable payment, storage, and co-funded features for them.
TRON was founded by Justin Sun, the former chief representative of the Greater China Region of Ripple, the first batch of students of Hupan University, one of the 2015/2017 Forbes 30 Chinese entrepreneurs under the age of 30 and one of the 2017 Forbes 30 Asian entrepreneurs under the age of 30. As of January 18, 2018, 12 o’clock, according to coinmarketcap.com, an authoritative information website in virtual currency area, the total market value of TRX — TRON’s official token — has entered Top 15 at present, ranking Top 13 with a total market value of 10 billion USD and a daily trading volume of 4.6 billion USD. At least 500,000 people worldwide are now holding TRX. In 2015, Justin became the only millennial attendee of Hupan University founded by Jack Ma, Chairman of Alibaba, so he is well known as protégé of Jack Ma.
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