Tron is one of the most ambitious and complicated blockchain projects in the world. It aims to use its state-of-the-art third generation blockchain network to decentralize the web completely. It was founded by Justin Sun (who already has a track record as a successful technology tycoon, and as Alibaba’s founder’s protegé) who still leads the project and it’s made a great deal of headway for a project that’s been online for barely 18 months.
Tron is a programmable platform that allows for the creation of smart contracts and decentralized applications, and launching other cryptocurrencies based on Tron’s TRX technology. Starting your own coin based on Tron is exceedingly easy as all it takes is a few clicks at the Tronscan website.
Unlike Ethereum which has only a single technology for issuing tokens (the initial Tronix coin itself started based in Ethereum, as was EOS), Tron offers two different technologies: TRC10 and TRC20. Both kinds of tokens can be traded for TRX at Tron’s decentralized exchanges. The difference is that TRC20 is more sophisticated and versatile than TRC10. But even if TRC10 tokens tend to be more basic, they will be very important soon, and we’ll tell you why.
Amongst Tron’s and Mr. Sun’s strategic moves is BitTorrent, the world’s largest decentralized network. Tron bought BitTorrent and is currently working in Project Atlas. It’s a project that will merge the BitTorrent network into Tron’s blockchain and community, and that will use a new Tron-based token (called BTT) to reward BitTorrent users for seeding their files for longer times.
And this is why TRC10 technology matters. The brand new BitTorrent Token (BTT) will be a TRC10 token so making the whole TRC10 technology more versatile is critical in making the merger between Tron and BitTorrent successful.
And that’s exactly what Mr. Sun is trying. Today, he used his Twitter account to ask the community to vote on proposal #15. Let’s see his tweet:
I have submitted Proposal #15 to allow the TRC-10 token transfer in smart contract, which will be effective on 1/11/2019 8:00 PM(UTC), please vote for proposal #15. #TRON #TRX $TRX https://t.co/I0lwHKyeJr pic.twitter.com/SG1Dyl5Vxg
— Justin Sun (@justinsuntron) January 9, 2019
Every Tron community member has a right to vote (as long as he freezes his TRX tokens for some time) on any issue available at tronscan.org, and that includes the super representative election.
Having TRC10 tokens available for transfer in smart contracts is critical in potentiating the marriage between BitTorrent and Tron since the economical incentivization will come in the form of a TRC10 token.
But it’s not just for BTT. Every TRC10 token will become more useful as the new initiative will allow them to be integrated into all kinds of decentralized apps and smart contracts.
Tron and Mr. Sun keep delivering exciting news to the cryptoverse and, as a result, this is one of the very few tokens that has managed to grow when most of the market is going backward. Even after today’s sudden crypto bloodbath, it’s currently trading at $0.024688, and it’s ranked 9th by market capitalization.
Tron is moving forward quickly. Do not be surprised when the next bull run comes to the market, and then you see Tron leading the way.
Image courtesy of PixaBay.