TRON Year In Review 2022

May 08, 2023

TRON Year In Review 2022

This has been way overdue but the events I’ve worked on since the start of 2023 has been nothing but hectic yet rewarding thus far. After the Chinese New Year break, I have set aside some time to review our efforts and milestones throughout 2022 and Q1 of 2023, such as the launch of the $100M AI Development fund that will support a new wave of AI tools on the #TRON blockchain. I had organized my goals into a clear set of three priorities. Here’s how each has measured up.

Strengthening the TRON ecosystem

Rolled out first Decentralized Over-Collateralized Stablecoin (USDD)

In May, TRON officially launched $USDD, the first #decentralized algorithmic stablecoin over-collateralized by multiple mainstream #crypto assets including $USDT, $TRX and $BTC. $USDD has a very strong safety net, and the collateral ratio is transparently maintained at all times by the TRON DAO Reserve, the custodian of #USDD and guarantees its price stability. On October 7th, $USDD became the national digital currency of Dominica, granted statutory status as a medium of exchange.

Tronpedia page officially live.

(source: TRONpedia on TRONDAO)

I have always believed that knowledge is power. #TRONpedia, a go-to resource for all things #blockchain, was launched for this very reason — to empower the public with information about the various types of projects on TRON. You can discover a repository of articles to help you learn more about various blockchain-related topics, from #DeFi and #GameFi, to #Web3 and #NFTs.

Launch of Tron Academy

(Source: TRON Academy)

In this similar vein, a team of creative and innovative staff at TRON have launched Tron Academy. This program is targeted at empowering students, and providing the broader community with the tools and knowledge that they require in order to best leverage on the opportunities that blockchain offers. We have started modestly with a few universities in 2022 such as Cornell University, University of California at Irvine, Boston University and Princeton University, and will be expanding this in a major way in 2023.

Most Energy-Efficient Blockchain (CCRI 2022 report)

It is no secret that I am committed to global #sustainable development. I covered this in my previous piece on sustainability, being exceptionally proud to see TRON emerge as the most energy-efficient major blockchain in a report from the Crypto Carbon Ratings Institute (#CCRI) research.

(source: CCRI Report 2022)

TRON’s annual energy consumption rate sits at a mere 162,867 kWh. To put this into perspective, this is about 99% less than Bitcoin’s yearly consumption rate of over 83 million kWh. By demonstrating the superiority of PoS over PoW systems, we can encourage the adoption of more sustainable and efficient blockchain systems. Additionally, we can help improve scalability and security, leading to a better overall performance of networks across the whole industry.

With the establishment of the Ethereum Climate Platform in the wake of #COP27 (of which Huobi is part of), I am confident that the wider industry will join us as we continue to develop towards a more inclusive and green digital world.

Contribute towards a stronger Web3 Ecosystem

These are the larger achievements that have helped strengthen the larger Web3 ecosystem, whether by showcasing the merits of #blockchain #technology or boosting the profile of the most deserving projects in the #Web3 space.

Tron Total Transfer Value surpassed USD$5 Trillion

(Source: Twitter @justinsuntron)

As I announced last September, the total transfer value of Tron had surpassed USD$5.2 trillion in early Q4 (according to TronScan). This metric measures all transfers on the #TRON chain from inception till date. The data from TronScan also shows a 24-hour increase of $7.9 billion in transfer value as of press time.

At last count, this also brings the total number of accounts to over 109 million. Other noteworthy metrics:

  • Total transactions carried out on the chain is currently 3.7 billion
  • Over 4 million transactions within 24 hours.
  • Market share (by transaction volume): 9.73%
  • 2nd Largest public chain by #stablecoin market cap.

Top 3 largest public chain by TVL

Total value locked (TVL) is the total value staked in smart contracts on the TRON Ecosystem. Last year, TRON took the spot of 2nd Largest blockchain network by TVL in DeFi after surpassing $5.82 billion, second only to #Ethereum at time of reporting.

TRON Grand Hackathon 2022 Seasons 2 and 3

Following the success of the first TRON Grand Hackathon, we saw over 1800 aspiring participants signing up for the aggregate bounty of $1 million spread between four tracks: Web3, NFT, GameFi, and DeFi. Season 2 was a spectacular success

Riding the momentum, Tron #HackaTRON Season 3 rounded off the year with 1,100+ participants who formed 272 teams that submitted projects in one of six tracks: Web3, DeFi, NFT, GameFi, Ecosystem and #TronAcademy.

Right now, the 4th Edition of the Hackathon, jointly sponsored by TRON and Huobi is already underway, and I am certain we can look forward to another series of innovative and exciting projects.

Using Web3 to solve real world problems

Finally, the achievement most in line with my ultimate goals (to leverage Web3 technology and provide solutions to real world problems):

TRON becomes legal tender in Dominica (designated as the national blockchain infrastructure of Dominica.)

Perhaps most significantly, October marked the announcement of our partnership with the Commonwealth of #Dominica to make Tron-native tokens authorized digital currency in the Caribbean Island. In conjunction with Tron Network and DMC Labs, Huobi will also launch #DMC (Dominica Coin) — the world’s first National Token under authorization of the government, that offers holders a plethora of privileges in Dominica. The tokens will be issued through Huobi Prime, and the platform will #airdrop DMC and Dominica #DIDs to all registered users. This is the first of many early steps in our ongoing mission of legitimizing #crypto in Latin American countries.

The collaboration will strengthen economic growth by leveraging blockchain technology and embracing #digital innovation. This marks the first time a major public blockchain is partnering with a sovereign nation to expand and develop their national #blockchain infrastructure, and hopefully the first of many.

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Despite a tumultuous year for the industry, I remain optimistic and I’d say we accomplished much of what we set out to do this year, and we as a community must aspire to achieve even greater milestones this year.

Read on for the list of TRON’s top 22 highlights here: