TRON (TRX) Wallet

History of TRON cryptocurrency

TRON is a decentralized digital platform dApps with smart contract functionality. It was founded in 2017 and launched in 2018 by Justin Sun, a tech entrepreneur, who received two “30 under 30” awards from Forbes in Asia. Initially, TRON was founded to resolve scalability issues cryptocurrency first-comers faced, including Bitcoin and Ethereum. The project aims to create a “truly decentralized internet” that became more apparent when TRON acquired BitTorrent in 2018. The TRON network consists of three architecture layers: Storage Layer, Core Layer, and Application Layer. TRON utilizes Solidity as a smart contract language and Delegated Proof-of-Stake as a consensus mechanism.

TRON and USDD

USDD (decentralized USD) is a stablecoin that was recently introduced by the TRON DAO Reserve. The Reserve was initiated by the TRON network and focuses on TRON’s stablecoins and manages financial risks. The stablecoin is backed by several well-known cryptocurrencies as collateral, including BTC, USDT, and USDC. It is categorized as an over-collateralized stablecoin, meaning that assets used as collateral overcome USDD in circulation by volume. Currently, the collateral ratio is 130%. According to the DAO Reserve’s website, USDD was created to introduce “the most stable, decentralized, tamper-proof, and freeze-free stablecoin system”

TRON news

USDD, a stablecoin issued on the Tron network which is supposed to be pegged to the U.S. Dollar’s value, has dropped to its all-time low on June 19th, hitting $0.928. At that time the TRON DAO Reserve, which manages the stablecoin, reassured users that it has not been depegged from USD. The Reserve explains such a fall by referring to the “extreme market conditions”.