The Powerhouse
It is no secret that Tron has been a powerhouse since it’s inception in 2017. The vision of Tron was one that many claimed (and still do to this day) could not be achieved. High speed, low transactional costs, and democratic governance all wrapped up in a highly functioning blockchain that has ease of use. Despite the constant and consistent degradation, Justin Sun continued to push forward.
The Evolution of Justin Sun
There is not doubt in my mind that Justin Sun has changed. Once regarded as a young prodigy of Jack Ma, Justin has grown in both fortitude and wisdom over the last three years. At one point Justin was seen as rather callous with his remarks. The cliche “announcement of an announcement” gained popularity throughout the crypto world. It is clear that Justin has grown beyond the hype and has learned the valuable lesson of simply letting the product speak for itself. The tone and mannerisms are no longer those of a young, perhaps slightly naive, prodigy. Rather, they have evolved to being those of an up and coming business tycoon who looks beyond the horizon to build into the years and decades to come.
The Expanding Empire
In October of 2019 it was announced that Tron would be available on the Samsung Blockchain Keystore. A massive development to be sure. Samsung’s addition of Tron enabled the nearly 1 Billion Samsung users to access Tron Dapps directly.
Recently, it was announced that Tron-owned Bittorent will be listed on the Huawei built-in App Store. Huawei boasts over 3 Billion users who will now have access to the ever expanding Tron economy. Clearly Tron’s focus is well beyond becoming a singularly focused blockchain. They are building an entire ecosystem. Tron is building an empire.
Steemit Development
Tron acquired Steemit in early 2020. This created controversy within the Steemit community who perceived the acquisition akin to a hostile takeover. Since then, Tron and Steem have been working together to integrate Tron within the Steemit community. On December 2nd, Steemit Tweeted “TRX and Steemit Integration is live!”. Users could now create Tron accounts within Steemit and earn TRX rewards. Steemit calling the integration a “major step forward in the mutual growth and development of the Steem and Tron blockchain.” Once again, Tron has looked beyond the short term criticisms and set their focus onto building and expanding their community.
Ampleforth
Tron’s integration into Ampleforth is also a big step forward for the Tron community. In their own words, “AMPL is an independent currency in a multichain world”. Ampleforth is unique in that it has an elastic supply that grows and shrinks with volatility. On Dec 2nd, Ampleforth shared that Tron will be added to it’s lineup. Tron continues to pass the litmus test for credibility and expanding growth opportunities. The confidence in Tron’s utility can not be understated.
Welcome #AMPL to #TRON family! ❤️ https://t.co/ghfdwUXmH4
— Justin Sun🌞 (@justinsuntron) December 3, 2020
Proposal 47 & 48 – Resources
Tron has some of the lowest fees among the top blockchains. At the moment of writing this, the average transaction fee on competing Etherium is $2.00 USD per transaction. An absurdity to be sure. Tron’s users and Dapp developers have always raved about the low fees. Even more attractive is the ability of Tron users to freeze their TRX to either offset or completely eliminate their fees altogether. A benefit absent in other top blockchains.
Recently Proposal 47 and 48 passed. The proposals were simple: to increase the resource cost on the Tron blockchain by 4 times. At first glance, these proposals appeared somewhat discouraging. Regardless, the fact is that despite the shift Tron still remains an extremely low cost Blockchain. There will of course be some market hiccups as Dapps adjust their calculus. Some Dapps have shifted from covering 100% of the fees to covering partial fees. As markets do, the adjustment is already taking place. There has been an increased availability for the rental of resources. The market will always find a way.
The upside to the increase of resource cost is clear. At least for the moment, all resources used on the Tron blockchain are burned. As a result, there has been a significant decline in the overall Tron inflation. Secondly, and perhaps more importantly, the Tron freezing mechanism empowers the elected SRs. Only users with frozen TRX can vote. The increase of fees encourages users to freeze their TRX to obtain free resources. As such, the Tron Blockchain will become more democratic as users look to offset the increased fees. This is a significant development long term.
Moving forward
In Conclusion, it is clear that Tron has shifted their focus. They are no longer perceived as a blockchain that is mere hype. Their focus is set well beyond the horizon. Tron continues to build and the growth is coming to fruition. Like a puzzle the pieces are coming together.
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