TRON related acronyms
- TRX – Tronix – the official currency of TRON. The smallest unit of TRX is SUN. 1 SUN – 0.000001TRX
- TVM – TRON Virtual Machine – A lightweight virtual machine for TRON’s ecosystem. TVM can be used to test and execute large-scale decentralized applications.
- POS – Proof of Stake – A type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus (a general agreement).
- TPOS – TRON Proof of Stake – An enhanced Delegated Proof of Stake (DPoS) consensus mechanism developed by TRON catered to the needs of TRON network.
- TPS – Transactions Per Second – a measurement that represents the number of transactions completed in one second. TRON currently can achieve 2000TPS.
- ICO – Initial Coin Offering – Similar to an Initial Public Offering (IPO) in the non-crypto world. Startups offer their own token in exchange for Bitcoin, Ethereum or other altcoins.
- SR – Super Representative – 27 elected SR play a key role in governing the TRON community by ensuring basic functions, e.g. block generation and bookkeeping, and obtain corresponding earnings.
- ERC20 – Ethereum Request for Comment 20 – ERC20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. TRON was a ERC20 token before independence.
- dApps – Decentralized Applications – Programs that exist and run on a blockchain or P2P network of computers, and are outside the purview and control of a single authority.
TRON related definitions
- Tronics – Supporters of TROM from the community. TronLive is one of the Tronics community.
- Consensus – A fault-tolerant mechanism that is used in blockchain systems to achieve the necessary agreement. TRON uses TPOS – an enhanced DPOS consensus.
- Coin Burn – Used by various altcoins to reduce the current circulation supply by sending a portion of coin to a verifiably unspendable address.
- Nodes – Any computer or virtual machine running a copy of the TRON software is a node. A node can be responsible for block production, provides APIS, broadcasts transactions, etc depending on its node type.
- Hodlers – People who hodl. HODL – This meme was born when a drunk person on bitcoin forum made a post with this typo in the place of ‘hold’. Later also known as Hold On for Dear Life.
- Wallet – A digital wallet that allows users to manage and store their cryptocurrency. TRON has its wallet made available on the web, desktop, iOS and android system.
- TestNet – An alternative cryptocurrency blockchain, to be used for testing. TRON has its TestNet ready on March 31, 2018.
- MainNet – A production environment whereby actual blockchain transactions take place on a distributed ledger. TRON achieved its MainNet on May 31, 2018.
- Smart Contract – A piece of code that is intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.
Jul 2017 – The Birth – TRON Foundation established in Singapore.
Mar 2018 – TestNet – TRON launches TestNet, Blockchain Explorer & Web Wallet.
Apr 2018 – Open Letter – A call for independence. Letter to the community on SR election.
May 2018 – MainNet – TRON launches MainNet. Odyssey 2.0 – a technical milestone for TRON.
Jun 2018 – Independence – The Genesis block has been created with the consensus of TRON community.
Jul 2018 – TVM Released – Built to trigger new wave of Decentralized Apps.