TRON：领先的稳定币传输网络

TRON 自成立以来已经发生了显着的发展，从直接与以太坊竞争的最初目标转变为主要专注于稳定币转账。

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 于 2017 年推出，最初被认为是“以太坊杀手”。虽然以太坊杀手中没有一个能够真正杀死 Vitalik 的创意，但 TRON 确实成功地夺取了稳定币转账领域的领导地位。让我们了解一下过去六个月波场发生了什么以及它正在朝哪个方向发展。

Key Findings:

主要发现：

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

稳定币主导地位：TRON 网络持有 USDT 总供应量的约 53.7%，使其成为稳定币交易的领先平台。

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

生态系统规模：TRON 的总 TVL 超过 220 亿美元，而 DeFi 的 TVL 稳定在 80 亿美元，JustLend 占据显着主导地位。

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.

未来展望：TRON 专注于增强稳定币支付并提供比特币集成，包括开发自己的比特币第 2 层解决方案和无 Gas 稳定币转账。

Specifics of TRON Chain

TRON链的细节

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 区块链采用委托权益证明（DPoS）共识算法。这是一种共识机制，利益相关者选举少量代表来代表他们验证交易并保护网络。每3秒生成一个区块，最大网络性能为每秒2000笔交易。

There are three layers in the TRON architecture:

TRON 架构分为三层：

TRX Token Overview

TRX 代币概述

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 代币是 TRON 区块链的原生实用加密货币。 TRX 最初在 2017 年 ICO 期间在以太坊上作为 ERC-20 代币推出，总发行量为 1000 亿枚。这些分配如下：40％用于公开代币销售，15％用于封闭预售，35％用于项目储备基金。

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.

随后，所有 ERC-20 代币都转换为 TRON 区块链上的原生 TRX。总供应量会因销毁事件而定期减少，目前约为 870 亿枚代币。

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.

现在，TRX作为TRON生态系统内的主要结算单位，用于支付交易费用、质押奖励以及超级代表节点的区块确认。当用户质押 TRX 时，他们会收到 Tron Power，这赋予他们选举超级代表的投票权。这些超级代表一旦当选，将代表社区对TRON DAO中的网络发展提案进行投票。因此，虽然 Tron Power 本身并不直接对提案进行投票，但它允许用户选择做出这些决定的超级代表。

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:

尽管 TRX 是执行交易的主要 Gas 代币，但有两种类型的资源可用于执行智能合约并在 TRON 中执行交易：

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

这两种资源都可以通过质押 TRX 代币来获取，从而激励用户持有和支持网络。

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.

从目前的TRX分布来看，前10名地址占据了总供应量的31.61%，前500名地址则拥有了85.50%的供应量。前 10 名中只有 1 个属于交易所钱包。尽管需要注意的是，Top 1 是负责 TRX 代币包装的智能合约地址，但它拥有整个发行量的 14.68%。

Stablecoins Performance

稳定币表现

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 的主要用例是作为 USDT 稳定币交易网络，在这一特定领域超越了以太坊。通过专注于稳定币支付而不是 DeFi 或 dApp，TRON 提供了高速、运营连续性和可靠性。这种关注在 USDT 最初流行期间产生了滚雪球效应，导致企业、电子商务平台和国际汇款的广泛采用，从而将 TRON 的实用性扩展到加密货币原生用户之外。目前，TRON 上约占 USDT 总供应量的 53.7%（约 1132 亿）。这大约是以太坊上 USDT 稳定币结算金额的 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.

截至撰写本文时，TRON 稳定币的总市值已接近 620 亿美元，持有者超过 4800 万。 USDT 并不是唯一的稳定币，尽管它约占 TRON 链上稳定币总供应量的 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.

在过去的六个月里，TRON 上发行了 12 次 USDT，每次发行 10 亿美元，如下图所示，用绿色尖峰标记。这导致稳定币总供应量超过 600 亿美元。

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.

最近一次销毁事件发生在2023年8月22日，期间销毁了12亿美元USDT。稳定币销毁是一种减少加密市场流动性的机制，类似于央行减少传统市场货币供应的方式。因此，每当出现 $USDT 销毁的消息时，请保持卖出按钮，尽管此类事件在未来几年内不太可能发生。