Born in China’s Qinghai Province, 29-year-old Justin Solar is the founder and CEO of Tron, one of many largest blockchain networks on the earth.
Solar, who holds a grasp’s diploma in East Asian research from the College of Pennsylvania and a bachelor of arts in historical past from Peking College, launched the Tron Basis in Singapore in September 2017. Later that yr, Tron launched its open-source protocol, adopted by its mainnet launch in Could 2018.
Tron’s cryptocurrency, Tronix (TRX), presently ranks because the 14th-highest-performing cryptocurrency on the earth. In response to the Tron web site, TRX is able to dealing with 2,000 transactions per second. Tron acquired peer-to-peer file-sharing big BitTorrent in June 2018 to run the BitTorrent token, BTT.
Justin Solar’s controversies met with success
Since founding Tron in 2017, Solar has develop into one of the crucial controversial figures within the blockchain house. In March 2019, Solar announced a contest on Twitter to offer away a Tesla. This created an uproar, as Solar switched backwards and forwards between winners a number of instances. Solar additionally made headlines for scheduling, canceling and eventually organizing a lunch assembly with well-known billionaire Warren Buffet.
Whereas he could also be polarizing, Solar is accountable for a lot of the success behind the Tron ecosystem. In response to Solar, Tron’s largest accomplishment in 2019 was the partnership the corporate fashioned with Samsung, which was announced final October. Solar informed Cointelegraph:
“A giant impediment for blockchain adoption has been getting cellphone producers to just accept cryptocurrency and blockchain-based apps. As an example, many crypto wallets are unable to make it on the Apple Retailer and Google Play. Forming the partnership with Samsung reveals that the Samsung Galaxy retailer helps cryptocurrency and DApps. Samsung is essential for constructing on Galaxy. We even have plans to work with different main cellphone producers transferring ahead.”
Solar talked about that there are nearly 700 decentralized purposes, or DApps, working on the Tron platform. This demonstrates Tron’s success in a brief period of time, contemplating there have been solely 70 DApps at the beginning of 2019. Solar famous that two DApps evolve on the platform each day, making the community the main DApp supplier within the trade.
What’s to return in 2020?
Tron lately introduced its second resolution, the Solar Community, which is a sidechain scaling platform designed to ship limitless scaling capability for the Tron community.
The answer will supposedly enable DApps to eat much less vitality whereas making certain larger safety and effectivity. Solar defined that many DApps on Tron will migrate over to the Solar Community this yr to offer additional scalability.
Solar additionally famous {that a} darkish mode process workforce is engaged on fixing the scalability points between Tron and BitTorrent, which is a vital process, as Tron plans to introduce 100 million customers from BitTorrent to its blockchain by the tip of February 2020.
Scalability points have been demonstrated in the course of the BTT token sale, which took about 15 minutes but might have lasted simply seconds if not for technical points.
Plans for BTFS and a DeFi takeover
Following YouTube’s ban on crypto-related content material, Solar additionally talked about that the newly launched BitTorrent File System will function one of many largest decentralized storage protocols on the earth. He defined:
“After we introduce BTFS, it is going to be inconceivable for anybody to delete info on the web. Content material will likely be distributed throughout BitTorrent customers’ computer systems across the globe, making it inconceivable to delete info.”
Solar informed Cointelegraph that the community will launch someday in March of this yr.
As well as, Solar talked about plans to carry a decentralized finance, or DeFi, resolution to the Tron ecosystem. In response to Solar, 900 million stablecoins have already been constructed on prime of Tron. Solar famous that the mixed market cap of those stablecoins might surpass $2 billion subsequent yr, giving him confidence that Tron will meet up with the main DeFi participant, MakerDAO.
In response to recent findings from Dune Analytics, MakerDAO’s stablecoin, DAI, noticed main transaction volumes over the previous couple of months. Knowledge reveals that the DAI month-to-month transaction quantity reached $2.5 billion in November 2019 and over $1 billion in December 2019.
Justin Solar is ranked #10 within the first-ever Cointelegraph Top 100 in crypto and blockchain.