Tron is a public blockchain network that aims to become the core infrastructure for a decentralized internet. The main focus of Tron is to be suitable for daily use. Thus, it has been built to enable fast, easy, and low-cost transactions. Tron uses a Delegated Proof of Stake (DPoS) consensus mechanism to maintain the network’s security and provide high transaction throughput and low fees.
Tronix or TRX is the native cryptocurrency of the Tron blockchain. The smallest fraction of TRX is known as SUN, named after Tron’s creator, Justin Sun. TRX is used to pay for gas fees on the network and can be staked by token holders to participate in the Delegated Proof of Stake consensus process. Additionally, miners can earn TRX by providing data storage space to Tron’s users.
As a blockchain network, Tron allows the development of smart contracts and decentralized applications. Tron Virtual Machine (TVM) enables Ethereum EVM-based smart contracts to be compatible and deployable on the TRON network as such Solidity developers do not have to rewrite their applications.
Since TRON protocol does not rely on proof of work or mining, instead governed by nodes located around the world, it is decentralized while providing high throughput for transactions on the blockchain. This is suitable for dapps that require high speed transactions.