TRON：領先的穩定幣傳輸網絡

TRON 自成立以來已經發生了顯著的發展，從直接與以太坊競爭的最初目標轉變為主要專注於穩定幣轉帳。

Launched in 2017, TRON was initially conceived as an “Ethereum killer.” While none of the Ethereum killers managed to actually kill Vitalik's brainchild, TRON did manage to snatch the leadership in the realm of stablecoin transfers. Let's understand what happened in TRON over the last six months and in which direction it is developing.

TRON 於 2017 年推出，最初被認為是「以太坊殺手」。雖然以太坊殺手中沒有一個能夠真正殺死 Vitalik 的創意，但 TRON 確實成功地奪取了穩定幣轉帳領域的領導地位。讓我們了解一下過去六個月波場發生了什麼以及它正在朝哪個方向發展。

Key Findings:

主要發現：

Stablecoin Dominance: TRON's network holds about 53.7% of the total USDT supply, making it a leading platform for stablecoin transactions.

穩定幣主導地位：TRON 網路持有 USDT 總供應量的約 53.7%，使其成為穩定幣交易的領先平台。

Ecosystem Scale: TRON's overall TVL exceeds $22 billion, while DeFi's TVL stabilizes at $8 billion with the significant dominance of JustLend.

生態系統規模：TRON 的總 TVL 超過 220 億美元，而 DeFi 的 TVL 穩定在 80 億美元，JustLend 佔據顯著主導地位。

Future Prospects: TRON focuses on enhancing stablecoin payments and providing Bitcoin integration, including the development of its own Bitcoin Layer 2 solution and gasless stablecoin transfers.

未來展望：TRON 專注於增強穩定幣支付並提供比特幣集成，包括開發自己的比特幣第 2 層解決方案和無 Gas 穩定幣轉帳。

Specifics of TRON Chain

TRON鏈的細節

The TRON blockchain utilizes the Delegated Proof-of-Stake (DPoS) consensus algorithm. It is a consensus mechanism where stakeholders elect a small number of delegates to validate transactions and secure the network on their behalf. Blocks are generated every 3 seconds, and the maximum network performance is 2,000 transactions per second.

TRON 區塊鏈採用委託權益證明（DPoS）共識演算法。這是一種共識機制，利害關係人選舉少量代表來代表他們驗證交易並保護網路。每3秒產生一個區塊，最大網路效能為每秒2000筆交易。

There are three layers in the TRON architecture:

TRON 架構分為三層：

TRX Token Overview

TRX 代幣概述

The TRX token is the native utility cryptocurrency of the TRON blockchain. Initially launched as an ERC-20 token on Ethereum during its 2017 ICO, TRX had a total issuance of 100 billion tokens. These were allocated as follows: 40% for the public token sale, 15% for a closed pre-sale, and 35% to the project's reserve fund.

TRX 代幣是 TRON 區塊鏈的原生實用加密貨幣。 TRX 最初在 2017 年 ICO 期間在以太坊上作為 ERC-20 代幣推出，總發行量為 1000 億枚。這些分配如下：40％用於公開代幣銷售，15％用於封閉預售，35％用於專案儲備基金。

Subsequently, all ERC-20 tokens were converted to native TRX on the TRON blockchain. Periodically, the total supply is reduced by burning events and currently stands at around 87 billion tokens.

隨後，所有 ERC-20 代幣都轉換為 TRON 區塊鏈上的原生 TRX。總供應量會因銷毀事件而定期減少，目前約 870 億枚代幣。

Now, TRX serves as the primary unit of settlement within the TRON ecosystem, used to pay transaction fees, rewards for staking, and block confirmations by super-representative nodes. When users stake TRX, they receive Tron Power, which grants them voting rights to elect super-representatives. These super-representatives, once elected, are the ones who vote on network development proposals in TRON DAO on behalf of the community. Therefore, while Tron Power itself does not directly vote on proposals, it empowers users to choose the super-representatives who make those decisions.

現在，TRX作為TRON生態系統內的主要結算單位，用於支付交易費用、質押獎勵以及超級代表節點的區塊確認。當用戶質押 TRX 時，他們會收到 Tron Power，這賦予他們選舉超級代表的投票權。這些超級代表一旦當選，將代表社群對TRON DAO中的網路發展提案進行投票。因此，雖然 Tron Power 本身並不會直接對提案進行投票，但它允許用戶選擇做出這些決定的超級代表。

Despite TRX being the main gas token for performing transactions, there are two types of resources that can be used to execute smart contracts and perform transactions in TRON:

儘管 TRX 是執行交易的主要 Gas 代幣，但有兩種類型的資源可用於執行智能合約並在 TRON 中執行交易：

Both resources can be acquired by staking TRX tokens, incentivizing users to hold and support the network.

這兩種資源都可以透過質押 TRX 代幣來獲取，激勵用戶持有和支持網路。

Looking at the current TRX distribution, we can see that the top 10 addresses own 31.61% of the total supply, and the top 500 addresses own as much as 85.50%. Only one of the top 10 belongs to the exchange wallet. Although it is important to note that Top 1 is the address of the smart contract, which is responsible for the TRX token wrapping, it owns 14.68% of the entire issue.

從目前的TRX分佈來看，前10名地址佔據了總供應量的31.61%，前500名地址則擁有了85.50%的供應量。前 10 名中只有 1 個屬於交易所錢包。儘管需要注意的是，Top 1 是負責 TRX 代幣包裝的智慧合約地址，但它擁有整個發行量的 14.68%。

Stablecoins Performance

穩定幣表現

TRON's primary use case is to serve as a USDT stablecoin exchange network, surpassing Ethereum in this specific area. By focusing on stablecoin payments instead of DeFi or dApps, TRON delivers high speeds, operational continuity, and reliability. This focus created a snowball effect during USDT's initial surge in popularity, leading to widespread adoption among businesses, e-commerce platforms, and international money transfers, thereby extending TRON's utility far beyond crypto-native users. Currently, about 53.7% of all USDT total supply (~113.2 billion) is on TRON. That is about 2x the amount the USDT stablecoin settled on Ethereum.

TRON 的主要用例是作為 USDT 穩定幣交易網絡，在這一特定領域超越了以太坊。透過專注於穩定幣支付而不是 DeFi 或 dApp，TRON 提供了高速、營運連續性和可靠性。這種關注在 USDT 最初流行期間產生了滾雪球效應，導致企業、電子商務平台和國際匯款的廣泛採用，從而將 TRON 的實用性擴展到加密貨幣原生用戶之外。目前，TRON 上約佔 USDT 總供應量的 53.7%（約 1,132 億）。這大約是以太坊上 USDT 穩定幣結算金額的 2 倍。

At the time of writing, the total market cap of TRON stablecoins has almost reached $62 billion, with over 48 million holders. USDT is not the only stablecoin, although it accounts for approximately 98.20% of the total stablecoin supply on the TRON chain.

截至撰寫本文時，TRON 穩定幣的總市值已接近 620 億美元，持有者超過 4,800 萬。 USDT 並不是唯一的穩定幣，儘管它約佔 TRON 鏈上穩定幣總供應量的 98.20%。

In the past six months, there have been twelve issuances of USDT on TRON at a billion dollars each, marked with green spikes on the chart below. This resulted in the stablecoin total supply exceeding $60 billion.

在過去的六個月裡，TRON 上發行了 12 次 USDT，每次發行 10 億美元，如下圖所示，以綠色尖峰標記。這導致穩定幣總供應量超過 600 億美元。

The most recent burning event took place on August 22, 2023, during which 1.2 billion $USDT was burned. Stablecoin burn is a mechanism to reduce liquidity in crypto markets, akin to how central banks decrease the money supply in traditional markets. Therefore, keep your finger on the selling button whenever news of $USDT burning emerges, though such events are unlikely to occur in the next few years.

最近一次銷毀事件發生在2023年8月22日，期間銷毀了12億美元USDT。穩定幣銷毀是一種減少加密市場流動性的機制，類似央行減少傳統市場貨幣供應的方式。因此，每當出現 $USDT 銷毀的訊息時，請保持賣出按鈕，儘管此類事件在未來幾年內不太可能發生。