TRON Network Recognized in Reports by Messari and Reflexivity Research
Geneva, Switzerland
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February 05, 2024 03:07 PM Eastern Standard Time
Geneva, Switzerland / February 05, 2024 / - The TRON network has been analyzed in reports by Messari and Reflexivity Research, highlighting its significant role and technological advancements in the blockchain industry. These reports collectively emphasize TRON's Delegated-Proof-of-Stake (DPoS) mechanism, TRON Virtual Machine (TVM), Token Value Locked (TVL), and the network's scalability and adaptability, marking its growing impact and innovation in the blockchain sector.
Messari’s State of TRON research highlights the continued growth of USDT on the TRON blockchain, revealing an 11% growth in Q4. Notably, half of all issued USDT now resides on TRON , a reflection of the network’s trust and credibility in the stablecoin landscape. With USDT representing 94% of the total stablecoin market cap on the TRON blockchain, and nearly 71% of the broader stablecoin market cap according to DefiLlama, the TRON network is well-positioned to see further growth in 2024.
Reflexivity Research’s report explores the TRON network’s active accounts. This metric tracks accounts involved in transfer activities, encompassing both wallet and contract accounts for a holistic view of the network's usage. As of the latest data, the network has maintained an average of 1.9 million daily active accounts, leading the layer-1 blockchain space.
For detailed analyses and findings, readers are encouraged to refer to the full reports by Messari and Reflexivity Research. For more information on the TRON DAO be sure to follow our social media and visit our website.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of February 2024, it has over 209.79 million total user accounts on the blockchain, more than 7.09 billion total transactions, and over $19.56 billion in total value locked (TVL), as reported on TRONSCAN.
In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.
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