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TRON
Decentralize the web
TRON is backed by crypto celebrity Justin Sun, who also acquired BitTorrent, Steemit and Poloniex. Justin established TRON Foundation in 2017 with the vision to create a global content entertaiment system, decentralized.
Justin Sun is most famous for paying $4 million to have lunch with Warren Buffett. He is hugely controversial, and is being accused on how he operates BitTorrent, and bribing his way in Steemit.
Despite that, TRON is a major blockchain player. It is huge inspired by Ethereum and EOS.
The Ecosystem
What is TRON Bandwidth and Energy?
One of the interesting concept is this 2 resources. Instead of paying transaction fees in TRX, you spend bandwidth and energy. Transferring TRC10 tokens will consume bandwidth, while TRC20 (which are smart contract compatible tokens) will consume both bandwidth and energy.
To get these resouces, TRX holder can freeze their tokens for 3 days in exchange for the resources. Read next section on staking on how to freeze.
If you don’t have enough resources to perform a transaction, you can pay the fee in TRX.
Sending TRX costs around 250 bandwidth, and every account get free 5,000 bandwidth every day (which will reset daily). You do not receive free energy.
Full details in their documentation.
How to stake?
For every 1 TRX you freeze, you can choose:
1) Bandwidth reward or
2) Energy reward
You have to choose either one of the reward, and the amount varies.
In addition, you will receive 1 TRON Power. You will use the TRON Power to vote/stake/delegate Super Representatives (SR), who will produce the blocks on the blockchain, and reward you with TRX. This is the staking reward.
The freeze will be 3 days long, after which you are free to unfreeze. But once you unfreeze, you lose all the rewards (bandwidth, energy, power/votes, and staking rewards).