Justin Sun’s Open Letter to the Community on TRON’s New Vision and the Launch of BitTorrent Chain - The Tron Foundation
( September 3, 2021; The Tron Foundation )
In an Open Letter, @justinsunsteemit outlines his vision to have Tron's layer-1 protocol take over from the half-a-century old SWIFT platform as the world's decentralized settlement network that will be augmented by the BitTorrrent (BTTC) chain as a layer-2 protocol that interconnects other public blockchains. The first next step towards this vision will launch on October 30, when BTTC will enable interoperation between Tron (TRX), Ethereum (ETH), and the Binance Smart Chain (BSC). Other public networks will be added in the future. For whatever reason, the @tronfoundation published the post on Medium instead of Steemit.
It is an opportunity bestowed by the time to have blockchain overtake SWIFT protocol and serve as the world’s future global settlement layer. It is also an opportunity as well as a duty for the TRON protocol to provide humankind a smart financial protocol that offers lower fees and low latency. This new protocol will not only enable society to run fast settlements at a fraction of the current costs. More importantly, smart operating systems of the Internet era can iterate quickly, offer interoperability, and hold enormous growth potential, as evidenced by the blooming decentralized finance (Defi) and non-fungible token (NFT).
Positioned as a global settlement layer, Layer 1 of the TRON protocol will focus on providing secure and fast settlement services at lower fees for financial institutions, crypto assets, and decentralized finance. In the meantime, the TRON protocol will soon launch BitTorrent Chain, a Layer 2 scaling and cross-chain solution, and migrate TRON’s DeFi, NFT, DAPP, and other emerging blockchains onto Layer 2 and cross-chain solutions.
Read the rest from The Tron Foundation: Justin Sun’s Open Letter to the Community on TRON’s New Vision and the Launch of BitTorrent Chain
Check the #penny4thoughts tag to find other active conversations.
That was a great news for every steemit users thank s for sharing with us
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Sometimes I think that Justin Sun has steemit in the third plane, as you say, he does not use steemit to promote new events or updates on the Tron chain.
I guess he must have his reasons, but IMO, it would help Steem's credibility a lot if JS and the Tron Foundation would begin using the platform more regularly.
I agree with you.
TRON is an ambitious project dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers base public blockchain support of high throughput, high scalability, and high availability for all decentralized applications in the TRON ecosystem.
I like TRON because it's still cheap to buy with lightning fast transaction speed at little to no cost and has big potential in the future. I believe TRON's day will come. This is one of those undervalued cryptos that's going to all of a sudden really take off.
I agree with this. I honestly don't know why people would prefer ETH to a DPOS chain like EOS or Tron (or even STEEM). After being accustomed to Steem, it feels bizarre to me when I use other chains that require long confirmation times and high transaction fees.
This is a little off topic, but do you have experience with transferring TRX to a Tron wallet?
I have been hesitant to do anything with my TRX because I didn't have confidence the process would go smoothly. I hope I'm wrong, and I just don't know where to look...
But I created a wallet, and clicked from my Steem wallet to connect to an existing Tron account, pasted my account address. Now the TRX is gone from my Steem wallet, but has not shown up in my Tron wallet.
Is that normal?
I think what happened is simply that the Tron address associated with my Steem account was swapped. My old Tron address in my Steem wallet has been replaced by the address of the account I linked. I guess I thought I'd be given the option to send tokens, not just replace the account ID without confirmation.
So now there's an account with my TRX that I can't manage through either my Steem wallet or my Tron wallet? How does one access the Tron account that was generated in Steem?
Unfortunately, I don't have any experience with that. I downloaded the tronlink wallet at some point, but it wasn't clear to me how to make it work without losing the tokens, so I cancelled out and uninstalled it. I created a wallet at bitgo.com, instead, and transferred some of my TRX there. That was much more straightforward, but If I remember right, creating a tron wallet on bitgo cost 100TRX.
I hope the funds eventually turned up for you...
They did not turn up. What an odd user experience. I feel like there should quite obviously not be an option to simply abandon your TRX.
You know more than me about the active devs; is there a good Steem account to reach out to for help?
Ugh. I was afraid of that. I've always been afraid to do anything with TRX here except to just hold it or transfer it to another wallet. The options to create a new account or link to an existing account have spooked me since the beginning.
The best way I've found to get someone's attention seems to be tagging @steemcurator01. They might also be in discord somewhere, but I don't know, since I don't use discord.
The steem.com website and the steemit FAQ both list "contact@steemit.com" as an email address, so you can try that. But I don't know if it's still monitored after the Tron Foundation took over.
I found this: Step by step Guide to Link Steemit Tron to TronLInk wallet (import your TRON account to manage TRX assets.)
If I'm understanding it right, maybe you can use aTRX wallet in Tronlink to "rescue" the TRX from there? It looks like you could do, "Import", then click on "Private Key", and then enter the private key from the PDF file that you got when you first created the TRX wallet on Steemit? (Here's hoping you still have access to that...)
Not 100% sure, but it seems to me like that should work...
I think I got things back to normal.
And I was able to transfer TRX I earned on the inadvertently created account to the old account. So I have my previous funds plus my interim funds.
Here's another one: TRX AND STEEM INTEGRATION NOW LIVE : HOW TO SET UP YOUR TRON WALLET [Tutorial] | FOR BOTH PC AND MOBILE
If "import" doesn't work, maybe try "restore" and use the private key from the PDF file there.
One caveat is that the author used his "master" key on the Steem side. I think you know this, but just in case, I highly recommend using just your "active" key, instead.
I should add that the other thing I have done, with the @penny4thoughts account, is to use simpleswap.io to convert TRX into STEEEM and then power that up.
Excellent information, it is one more motivation to continue working on this panel and accumulating TRON, this coin has not yet reached its maximum but it will arrive, no matter how long it takes, I believe in this project.
Happy Saturday and thanks for the great information.
Tron's bright future ahead is noticeable. Because it is a blockchain based decentralized platform that aims to create a free global digital content entertainment system through distributed storage technology and allow easy and expensive sharing of digital content. Especially, Tron network is very secure due to the Delegate Proof of Stack process.
The truth is that Justin Suns as an entrepreneur; his decisions, his priorities, who he is going to put in the first, second or third plane, all that he will do based on his pocket (whatever he gives him, more profit) we as users of this platform give him the breath, life. so, we have to ask ourselves, not what is Justin going to do for the platform, rather, what can we do to contribute day by day to this platform and strengthen it.
This is good initiatives to interconnect this network. Moreover inlike tron system most because of many reasons. Anyway i think justinsun will take the step that is most perfect for this blockchain.
Tron is kinda everywhere. This makes me wonder if it will get somewhere. But it is also great entry into crypto for budget-tight individuals since one goes for 10 cents.