What is TRON?
TRON (TRX) is a blockchain-based and decentralized entertainment and content-sharing platform that uses peer-to-peer (P2P) protocol. TRX was founded and developed by a non-profit Singapore-based foundation called TRON Foundation in September 2017, led by Justin Sun.
TRON was born due to the team’s first expectation to gear up the worldwide entertainment industry, which is valued at US $1 trillion. Not only that, but the team’s goal was also attacking the decentralized applications market, which is the trend in the upcoming decades.
The typically decentralized and distributed platform technology of TRON allows content-sharing producers to bypass the intermediates such as Apple’s AppStore or Google’s CH-Play. The content owners can obtain funds directly from customers or buyers.
People who used the online internet services like social media, online gambling, and other forms of entertainment are very appropriate with TRON platform.
Imagine a next-generation social media outlet on which you can publish and share content with anyone globally at any time. TRX is the official cryptocurrency of TRON’s platform. People use this coin to pay for using shared-content or entertainment services.
Berners-Lee, the founder of the World Wide Web, had to confess that TRON is not a profit-making tool for small groups only, but also a valuable asset for the global community.
The usage of TRON
The most significant benefit of using TRON crypto is that global artists and content creators are protected in having ownership over the content they create.
TRON is leading a movement to the decentralized and open network that enable people to use the internet as it was initially intended to be used. You can put data back under your control, where you have the choice of not disclosing or monetizing data for your gain.
TRON is developed in a way that allows the use of any high-level language for smart contracts, thus in the future developers will be able to use any programming language to build on top of the open-software design.
TRX uses a similar transaction model to Bitcoin’s uses. Like many other cryptocurrencies, TRX coin transactions are executed and recorded on the public ledger, so it is easy to trace its transactions. It’s even better than Bitcoin in which TRON provides an additional security function called the UTXO model.
In a UTXO model, there is a basic output, which is an amount of money sent to a TRX user’s address alongside a set of rules that will unlock that specific set amount. And the UTXO will be the final output product.
An exciting thing about TRON, which differs from many other cryptocurrencies, is that TRX coin cannot be mined. Therefore, the mining mechanism is not possible with TRON.
The overall information
|Curr. Supply / Total Supply||66,682,072,191 TRX / 99,281,283,754 TRX|
|ROI since launch||603.49%|
Advantages of TRON
TRON allows the producers or creators to control their data while still use social media.
- TRON allows the spread of data without any limits or restrictions. Users are allowed to store and upload data, videos, or audio through content channels. Each time a user uploads digital content, he will be paid for that content in TRX coin.
- The uploader is set to receive profits of a value proportional to his/her contribution. Users can keep their digital footprint intact. This will result in fewer luring ads on the side of the websites you are browsing. The essential value that TRON can bring to is that it focuses on people instead of organizations.
- The TRX transactions can be traced easily without any barriers because it takes place on a public ledger. With the UTXO model, a set of rules can unlock a specific set of amount of TRX that has been sent through TRON.
The future of TRON
A common characteristic of cryptocurrencies is that they have exhibited their extensive dynamic nature ever since they began trading, and values may fluctuate in any direction. TRX has a definite possibility of being successful when compared with other cryptos because it caters to a very specific audience with a specific aim that many other coins are not possible to claim.
TRON is still entirely brand new, and it is just getting started. So can you be too overly optimistic?
TRON may face problems on the way it grows because of the way Justin Sun deals with public communication, which at times has angered investors. People may consider Sun as being too young and naive to run a blockchain that has the magnitude of TRON.
Justin Sun was used to be known after people had asked: “what is TRON coin?”. Regardless, the coin is only at year one of a road map up to 2023. In other words, it’s still very early days for TRON, so news like this will vanish in time.
Following Wikipedia, Justin Sun, born in 1990, is the founder of the TRON platform and current CEO of BitTorrent. He is also the former chief representative of the Greater China area of Ripple, founder, and CEO of mobile social App Peiwo.
Tron CEO Justin Sun (Right)
When he was 26, Sun was chosen by Jack Ma to study at Hupan University; he was the only millennial among the first graduates of Hupan University. Besides that, he became the cover figure of Yazhou Zhoukan in 2011, Davos Global Youth Leaders, in 2014. 2015 CNTV Most noteworthy new entrepreneur; was named Forbes China 30 Under 30 from 2015 through 2017. Sun placed the record-breaking $4.5 million bid to have a private lunch with Berkshire Hathaway CEO Warren Buffett in June 2019 (Wikipedia).
It will be interesting to watch the progress of this project, potentially catering to a more focused use-case within the entertainment industry. There’s a large number of influential members in the Chinese business community standing behind the TRON development team.
With a clear, long-term vision of the team and also the considerable investment find from the community for the TRON platform, it might be reasonable to be optimistic about this project. However, there is no advice on financial aspect inside the boundary of this article.