This stream comes in two parts, one presented by Justin Sun with English translation and the other by the tech team; I broke it down in digestible parts.
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DECENTRALIZE THE WEB#TRON
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Tron started out as a team of 10 devs working on building a decentralized web platform.
On December 28th 2017, Tron launched their first beta for the protocol.
Recently, we saw the campaign of #deletefacebook because of its centralized abuse of the user’s data. Facebook and lots of large companies like Google, Amazon and Netflix control and manipulate the user’s data to get the results they want.
Justin Sun’s original goal is to focus on developing a content entertainment ecosystem, but also to provide a scalable, high availability and throughput distributed ledger to decentralize the web — honoring . Decentralizing the web is a much bigger picture than Blockchain dApp platform or .
This is not the Internet we want.
We want to give the users’ data back to them. None of us want to or should control the Internet.
TestNet Launch
Less than 3 months after its initial launch, Tron has grown into a team of over 100 members, gaining talent from reputable giants such as Baidu, Tencent and Alibaba.
With the release of Odyssey 1.0, the TestNet, the network was able to reach over 10 000 transactions per second — Ethereum allows around 25. More details were revealed about the technicalities of the protocol, namely:
Feeless structure, the block reward for validation is of 32 TRX every second a block is mined and is given by the Tron foundationA token can be issued by anyone at the cost of 1024 TRX, this fee is burned permanentlyThe protocol makes use of a dPoS consensus system where nodes are elected with TRX holders
From this point on, Tron will be working on moving from an ERC20 TRX token to its MainNet version of the token. This will be facilitated by smart contract running on the Tron network.
MainNet RSA 2.0
The MainNet is scheduled to launch May 31st 2018, with a development update due late April. It will provide a reliable, secure and high performance settlement network and onchain smart contract platform. The key priorities are:
performance and security trial runimprove dPoSonchain resource allocation governance
Additionally, the team will be focusing on helping platforms migrate from other protocols and integrate the Tron network structure. These include partners like: OCN (Ocoin), GTO (Gifto), Paywall, trip.io and others.
RSA 3.0 comes in September 2018. It aims to provide stable support for third party apps, more specifically: high performance and pluggable smart contract virtual machine and Peer-to-Peer network optimization. In the 4th Quarter of 2018, Great Voyage 1.0 will be released.
Details
The foundation is really going all out when it comes to offering unprecedented levels of support and stability to the community of developers, creators and investors who will interact with the Blockchain.
Justin Sun noted a $1B fund the Foundation will use to support the community, especially developers working on wallets, explorers, services and products in the form of dApps.
The TVM (Tron Virtual Machine) will work with Java code. It is fully compatible with Google protobff and comes with a nice set of APIs, this is greater than the limited usability and extent of the Ethereum VM’s Solidity coding language; it also reaches a wider developer audience.
Tron’s vision is to directly compete against Ethereum, offering a greater solution by combining the powers of their strong development teams: Backend, Appdev and research.
Justin says Tron will be having mostly fiat-tron trading pairs when it gets to competing and eventually outstanding Ethereum’s market cap. Tron is already dominating trading volume for crypto-crypto trading pairs on many exchanges.
Before January 1st 2021, the Tron Foundation will be directly responsible for the block reward and will not increase the total issued TRX afterwards. A steady coin burning is planned to counteract negative repercussions of unlimited supply, minable currencies like Ethereum which can become wasteful in terms of energy.
For future coverage, check out this Twitter thread:
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B $TRX Tron #cryptocurrency – Global entertainment protocol 0x1321F83dA97d8Cc52b855f6447a3421A5F534F36 | Show this thread for details
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Figure 1: BTC-USD, 2HR Candles, Bitfinex, Momentum Loss
Figure 2: BTC-USD, 6HR Candles, Bitfinex, Hidden Bearish Divergence
Figure 3: BTC-USD, 12HR Candles, Bitfinex, Key Support Levels