TRON MainNet Celebrates Fifth Anniversary and Stands Now as the Preferred Global BlockchainSponsored - Press Release
By: Chainwire •External PR
Geneva, Switzerland, June 8th, 2023, Chainwire
It’s been five years since the day in late May 2018 when the TRON MainNet emerged. The layer one blockchain can now authentically be labeled as the public chain of choice, with the most daily active users, the most daily transactions, and the largest circulation of the stablecoin USDT. Impressing the industry with one achievement after another, it has grown into the global leader among all public chains. As the number of comparable chains and competitive options has exponentially increased, TRON continues to stand out with its second-to-none performance, scalability, and security, attracting masses of developers and users worldwide.
Following TRON's anniversary, on June 1, Hong Kong's Securities and Futures Commission (SFC) began accepting applications for crypto trading platform licenses. As a top-tier public chain, TRON has promised full support for Hong Kong's Web3 ambitions to become a crypto hub of the world.
TRON was founded by H.E. Justin Sun in 2017, and its MainNet went live on May 31, 2018. Five years into the launch of its MainNet, TRON now has over 165M users worldwide and has processed more than 5.7B transactions. According to DeFiLlama, it also outshines the pack with a TVL (Total Value Locked) second only to Ethereum.
TRON has established a robust commerce infrastructure via partnerships across the industry. It has become the global stablecoin highway for USDT, USDC, TUSD, USDJ, and USDD.
According to the data on Tether's website, the supply of TRC20-USDT has exceeded 46.1B, now 10B more than the Ethereum-native ERC20-USDT, accounting for 60% of USDT's total supply.
Powered by a secure, cost-effective, and efficient underlying blockchain, the TRC-20 protocol launched by TRON has become the go-to choice among on-chain users. In addition, TRON has developed a well-rounded ecosystem covering the hotly contested fields in the sector, including DeFi, NFT, GameFi, stablecoins, the metaverse, cross-chain solutions, and DIDs, with the commitment of a group of active developers.
TRON aims to elevate its on-chain stablecoin market cap to $100B in 2023 and strives to become the preferred choice for stablecoin users around the world.
In October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, and seven TRON-based utility tokens were granted statutory status as authorized digital currencies for use in everyday commerce there. This collaboration blazed a trail for blockchain projects to explore technology application and development with sovereign nations.
The next five years look to be as exciting as the previous five. The TRON DAO team is confident they work hard to delve deeper into blockchain tech development by welcoming more and more projects and protocols into the ecosystem to #BUIDLtheFUTURE on TRON. An essential player in propelling the global digital economy forward, TRON strives to empower decentralized commerce and community for every person on the planet.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of June 2023, it has over 165.1 million total user accounts on the blockchain, more than 5.79 billion total transactions, and over $12.0 billion in total value locked (TVL), as reported on TRONSCAN.
In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.