TRON, a blockchain network, has seen a significant increase in onchain activity over six consecutive quarters, according to research reports released by Messari and CryptoRank. This surge in activity demonstrates TRON’s growing importance in the blockchain technology space.
Messari’s research report highlights TRON as a public, open-source blockchain network known for its security and efficiency. The network uses a Delegated Proof-of-Stake (DPoS) mechanism and the Practical Byzantine Fault Tolerance (PBFT) consensus algorithm to secure transactions. The TRON Virtual Machine (TVM) offers developers fast and cost-effective smart contract execution, contributing to its widespread adoption.
Key findings from Messari’s report include a 29% increase in average daily transactions in Q2, reaching 6.3 million transactions. The number of daily active addresses also grew by 31% to 2.0 million. Additionally, TRON’s circulating market cap has been increasing steadily over the past six quarters.
CryptoRank’s research report dives into TRON’s technical capabilities, highlighting its ability to generate blocks every 3 seconds and support up to 2,000 transactions per second. The report discusses TRON’s three foundational layers: the Core Layer, the Storage Layer, and the Application Layer, which collectively make TRON a robust and scalable platform for developers and users.
Key insights from CryptoRank’s report include TRON holding the second position in dApps Total Value Locked (TVL) among all blockchains, with over $8.2 billion locked. TRON also boasts over 181 million active addresses in Q2 2024 and has gained over 274 million unique addresses, primarily from user accounts.
Overall, both research reports emphasize TRON’s position as a critical player in global crypto transfers. The network’s widespread adoption extends beyond crypto-native users to businesses and e-commerce platforms worldwide. TRON’s future initiatives, such as Bitcoin Layer 2 integration and gasless stablecoin transfers, aim to enhance its capabilities and solidify its leadership in the blockchain space.
Founded in 2017 by H.E. Justin Sun, the TRON network has achieved significant milestones since its MainNet launch in 2018. The network hosts over 248 million total user accounts, more than 8 billion total transactions, and over $21 billion in total value locked. TRON also serves as the home to the largest circulating supply of USD Tether (USDT) stablecoin globally, surpassing USDT on Ethereum since April 2021.
In conclusion, TRON’s growth and technological advancements position it as a key player in the blockchain industry. With a focus on decentralization and innovation, TRON continues to expand its ecosystem and attract users from various sectors. The network’s strategic partnerships and initiatives underscore its commitment to revolutionizing the internet through blockchain technology.