Generally speaking,
Generally speaking,The high degree of decentralization of the public chain cannot guarantee the efficiency of data processing. At the same time, the compatibility with each other is poor, making it difficult for data and assets to flow efficiently across systems.Both of these two problems have become more acute with the outbreak of on-chain applications.
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1. The new vision has epoch-making significance for the global financial community
On September 3, Justin Sun, the founder of TRON, published a speech on the new vision of TRON and the official launch of the BitTorrent ChainAn Open Letter to the Community. Justin Sun introduced,TRON's cross-chain expansion solution BTTC will be officially launched on October 30. In the future, the first layer (Layer 1), that is, TRON protocol will be positioned as a global clearing layer, mainly providing clearing services for financial institutions; while the second layer (Layer 2), that is, BTTC, will serve as a global clearing layer that spans Ethereum, TRON and BSC. A cross-chain expansion solution.
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Justin Sun posted an open letter on Weibo
Justin Sun also mentioned in the letter that since its official launch on June 25, 2018, the total assets on the TRON chain have exceeded 50 billion U.S. dollars, and the total lock-up volume has exceeded 10 billion U.S. dollars. But what attracts more attention is that the clearing transaction volume processed by the wave field protocol exceeds 10 billion US dollars every day, which is comparable to that of Ethereum. Compared with traditional financial transfer networks, TRON's single-day settlement amount has reached five times that of the global electronic payment giant Paypal.
The support of objective data gives the TRON protocol the confidence to redefine its vision. According to the plan, Tron aims to provide global financial institutions with decentralized, safe, efficient, low-cost and intelligent clearing services, and gradually complete the replacement of SWIFT in the wave of popularization of digital assets.
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Technical Documentation of TRON
However, from the current point of view, it may be too early to truly realize the grand goal of becoming "the next generation of SWIFT". Because the cycle is quite long, because it needs to span different fields such as traditional finance, Internet circles, and encrypted finance.However, with the BTTC that realizes multi-chain asset interoperability through heterogeneous cross-chain, the TRON public chain, as Layer 1, can at least satisfy the liquidation of cross-chain assets, and play the role of "decentralized SWIFT" in the encrypted world.secondary title
2. "Wanchain Interconnection" creates a trillion-level Internet value ecology
"Wanchain Interconnection" means that the information barriers and asset barriers on each public chain will be broken, and data and value will flow unimpeded. At the same time, "cross-chain communication" technology can be adopted in the encrypted world, highly fragmented and decentralized resources will be effectively integrated, and the various public chains that can be expanded will be interconnected on this basis. Under a standard and unified development environment, the development speed of high-quality applications may be accelerated, which will be a deeper level of innovation for the changes in the blockchain industry. Extending it to the traditional Internet world means more specific, intuitive and imaginative business dividends.
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TRON official website page
Driven by the very attractive ecological landscape, TRON has already pointed to the "Internet of Ten Thousand Chains" and is fully prepared for it. Looking back, when TRON gradually became the top ranking of the public chain track under the bull market and the DeFi boom that started at the end of last year, it has secretly made plans for this. At the end of February this year, Odaily was in "Another wave field under the hustle and bustle"Analyzed in the article,Since the outbreak of DeFi, the external public chain that has undertaken the most value overflow of the Ethereum network is Tron.
There are two main reasons behind it: Polkadot and other new-age public chains were not fully prepared at that time, which left a rare time window for the "husband chain" wave field. Public chains that have matured in 2018 or earlier, in DeFi The foundation has been laid before the outbreak; more importantly, the environment of TRON Virtual Machine (TVM) is similar to that of Ethereum Virtual Machine (EVM). Quickly develop, debug, and compile smart contracts, which also makes the end-user experience closer to the two.
It can be seen that compatibility with the Ethereum virtual machine is a key move for TRON to achieve cross-chain interoperability. With this advantage and its own technical iteration, in the next few months, with the DeFi boom and NFT carnival taking turns, the core data of the Tron public chain performed better.image description
The data displayed on the TRON browser page
Sun Yuchen, who has tasted dividends in seizing the ecological share of Ethereum and has become more and more courageous, intends to further expand his achievements. In his open letter, he stated,As a heterogeneous chain cross-chain interoperability expansion protocol, BTTC will be compatible with TRON, Ethereum and BSC at the same time. That is, through BTTC, unlimited transfer of assets can be realized between mainstream public chains. In addition, BTTC will also be fully compatible with the Ethereum virtual machine EVM, allowing all EVM developers to quickly migrate applications to TRON, providing a high-speed, low-cost new environment for applications on Ethereum.
At the same time, Sun Yuchen, who has always been generous, announced in the letter,$1 billion will be invested to encourage Ethereum projects to migrate to BTTC.image description
The homepage of TRON official website lists some core data
Corresponding to the grand narrative, it is actually the founder Sun Yuchen who has consistently adhered to the public chain track since the official launch of TRON in June 2018. Although he himself, because of too much ink on the marketing level, has been criticized. At the beginning of its launch, TRON also encountered some doubts, but judging from its current performance, it has already entered the first echelon of the public chain track.
Continuously increasing technology research and development is another aspect of Justin Sun and his team that is not well known to outsiders. In an interview with Odaily earlier this year, Justin Sun revealed that in the past four years, TRON’s annual research and development costs have reached 1 billion yuan. On the other hand, there are many "domestic public chain" projects, they were launched at the same time as TRON or even earlier, and they were given high hopes because of their own halos, but they finally fell silent.
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3. The linkage paradigm of "communication technology + financial innovation" alludes to the changing trend of the future world
In conclusion,Layer 1 and Layer 2 of the TRON system complement each other in terms of positioning. The former provides security and consensus support for the latter, and the latter is one of the most important application scenarios for the former in the future.The synergistic relationship between the two is essentially a dividend derived from technological upgrade iterations and efficient flow of value. This kind of benign interaction will prosper the public chain ecology in the way of cross-chain and expansion in the encrypted world, and promote the mutual transmission of value.
In other words, the "Wanchain Interconnection" led by TRON will focus on promoting the implementation and application of "the next generation of decentralized SWIFT", that is,A unified decentralized underlying protocol standard that connects data and value on various public chains, and completes data clearing intensively, serving as a hub for world value conversion on the chain; and "the next generation of decentralized SWIFT" relies on " The attribute of "Technology + Finance" will attract a steady stream of capital flow, information flow and user flow for the underlying "Wanchain Interconnection" at the application level, and prosper the ecology of "Wanchain Interconnection".
But as mentioned above, with the acceleration of the digitalization process, many unpredictable changes will take place in human society, just as the public 10 years ago could not imagine the sense of technology and the degree of convenience in today's society. And TRON passes through "Layer1+Layer2"The resonance effect achieved may have an impact far beyond the encrypted world, because it is a paradigm of "communication technology + financial innovation" linkage, which may penetrate into In the Internet industry and even the bits and pieces of public life, the unattainable commercial value that existed only in the imagination before has been realized.
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Cool graphics of the Metaverse world
It is worth noting that the pattern of "Internet of Ten Thousand Chains" that TRON intends to realize is highly compatible with the concept of "Metaverse" that is currently at the forefront. The same is the blue ocean of business created by the iterative upgrade of technology, "Wanchain Interconnection" and "Metaverse", both are committed to breaking the barrier between virtual and reality, and restoring the imagination of previous users to the real time and space. Relying on the decentralized governance structure, and under the framework of the sharing economy, both will amplify the dividends derived from technological innovation and mechanism innovation, and feed back to the participants in this process. According to Bloomberg Intelligence, the Metaverse market size will reach US$800 billion in 2024, approaching US$1 trillion.
At that time, through the "Internet of Ten Thousand Chains" and its commonality with the Metaverse, can TRON successfully stir up nearly a trillion yuan of the Metaverse market space in the historical trend of the overall transition of human social behavior to the data space and the large-scale digitization of assets, Still need the test of time. But in order to succeed or not, at this moment, TRON, which aims to realize the "Internet of Ten Thousand Chains", is conducting a meaningful technical and financial experiment.
