Aofex

The Most Interesting TRON Takeaways from Justin Sun’s Q4 Livestream

| Updated
by Julia Sakovich · 4 min read
The Most Interesting TRON Takeaways from Justin Sun’s Q4 Livestream
Photo: Shutterstock

On September 24, Justin Sun, the creator of Tron, revealed what developments and updates the community can expect to see in the near future.

Tron founder Justin Sun (@justinsuntron) provided a community update on September 24 that detailed a number of important developments to the smart contract network. Livestreaming on both Periscope and YouTube, the creator declared that he had a number of major announcements that would have ramifications for the future of Tron. Among other things, he mentioned that the delivery of Tron’s sidechain scaling solution, dubbed Sun Network 1.0, would occur on September 25. 

The first word of Sun Network 1.0’s arrival was delivered only a couple of weeks ago, suggesting that Tron’s founder is in no mood for delaying a sidechain solution that’s promised to offer “unlimited scalability.” With the launch imminent, that bold pronouncement will soon be put to the critical user test. Sun went on to explain that each Sun Network sidechain would allow 2,000 transactions per second (TPS), and with multiple simultaneous sidechains possible, horizontal scaling on the network would be equivalent to 2,000 TPS multiplied by the number of active sidechains.

Top of the Tron Tree

With so many announcements to take in, selecting the most noteworthy was a task itself, but the news which Sun chose to lead with was that the Tron protocol would update to TRON Network Version 3.6.5 and implement TIP53. This will move Tron away from its long-held dPoS consensus mechanism to a hybrid dPoS and PoS system, expanding the current number of representatives from 27 to 127. In this new ecosystem, the original 27 will remain super representatives, with the further 100 representatives increasing the franchise and allowing more users to gain a foothold. This change also has repercussions for block rewards on the Tron network, with super representatives now set to receive 16 TRX as opposed to 32. 

According to Sun, the benefits of the new system will include incentivizing greater user participation as staking from wallets and exchanges becomes possible. In turn, the greater decentralization is expected to lead to a more robust and secure Tron network.

Parent Chains

The third announcement and one Tron’s founder was particularly excited about, is the entry of Tron to ‘Blockchain Interoperability and Cross-Chain Communication.’ Through a relay hub, Tron proposes to make transactions from one chain to another possible. In this system of cross-chain communication, Tron will act as the relay chain between the opposing blockchains.

Initially, it is proposed that this system includes only three chains, with the first selected by the TRON foundation and the other two chosen by users. At this stage, the cross-chain mechanism is projected to launch in December of this year with the new chains funded by IPOs (Initial Parachain Offerings). It’s pretty evident that Justin Sun’s vision for the future of blockchain is one in which multiple chains peacefully coexist. Tron will aim to have multiple parachains linked to and supported by the main chain, with the latter serving as the relay chain in the center. Parachains will operate autonomously and independently, and may even use different consensus mechanisms.

And the Rest

Other announcements included the launch of a Tron privacy coin in which a sender, a receiver and amounts will remain hidden, and the development of a one-click blockchain solution for SMEs. Sun muted the latter as the blockchain equivalent of Amazon’s cloud computing services, giving small businesses access to blockchain solutions without having to develop their own chains.

All in all, the announcements were as follows:

  • The Tron Protocol update, expanding delegate numbers from 27 to 127 and updating the consensus mechanism;
  • The launch of Sun Network 1.0 on September 25;
  • Parent chains allowing a cross-chain solution for Tron network;
  • One-click blockchain solution, opening the power of blockchain technology to small and medium-sized enterprises;
  • The Tron anonymous coin project, giving TRX privacy coin properties.

Sun concluded by stating that Tron has a number of agreements in place with top exchanges to conduct future IEOs with TRX.

Altcoin News, Blockchain News, Business News, Cryptocurrency news, IPO News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

Related Articles
PARSIQ Is Now an Amazon AWS Technology Partner, Can Help Thousands of Businesses Benefit from Blockchain Monitoring
By October 18th, 2021
Press Release PARSIQ Is Now an Amazon AWS Technology Partner, Can Help Thousands of Businesses Benefit from Blockchain Monitoring
By October 18th, 2021

PARSIQ is proud to announce it has acquired the status of Amazon AWS Technology Partner. The news marks a big step forward for the blockchain service provider. Through this status, mainstream adoption of blockchain comes one step closer, thanks to combining rich on-chain data and the off-chain world in real-time.