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2019-01-21 17:33:42

What is TRON? TRX explained

TRON Explained

TRON is designed as a decentralized content sharing platform which works on peer to peer sharing technology. It was started in Singapore by the non profit TRON foundation which seeks to create a viable platform for the global entertainment industry.

The team members of TRON follow the principles of Sir Tim Bernets-Lee. They believe that a protocol becomes an asset to the human race and not a tool for profit making controlled by a few.

Therefore this vision envisages TRON as an open source decentralied platform. The use of distributed storage technology would allow the creators of digital content to reach out and deliver directly to the consumers and removing the need of a middleman. In this ecosystem the need of selling agents or middlemen such as the play store by Google or Apple store is completely eliminated.

Currently the entertainment industry is being dominated by a few big players. In the current scenario there is a state of monopoly. Now a days both traffic and a users data is controlled by big corporates like Google, Amazon and Facebook that control both data and traffic.

The role of TRON would be to nullify this effort and give back the control of personal data back to the creator.

TRON: Key Points to consider

TRON has the vision to "Heal the Internet". To realise this vision it would incorporate the following features into the project.

- Data liberation~ that is the data would be free and uncontrolled.The users would have the freedom to store and upload video, audio other data through the use of content  channels.

- Create a content ecosystem where a user earns by way of uploading digital content.

- TRON would provide the foundation to create own ICO's with the aim of distributing digital content.

- It would provide the infrastructure and tools for a digital exchange platform so that digital assets like games can be distributed freely without any middleman interference.

- TRON is people centric rather than organization centric. Here focus is on the creator and the consumer of content. 

- Users who upload content to the TRON network would receive profits proportional to their uploaded contribution.

- All the transactions between the creator and the consumer would be logged on to the blockchain that is a public ledger so the transactions can be seen and validated. The Tronix transaction model is called UTXO here a set of rules unlock a specified amount that is sent via the TRON network. The TRX coins cannot be mined.

The TRON system is a media ecosystem working on the P2P principle. Using the P2P technology the creators and distributors can directly deliver to the consumers. In the current scenario delivery networks like Youtube and Itunes act as centralized authorities which has been hampering the digital content industry.

The TRON ecosystem uses the peer to peer architecture to do away with the need of any intermediaries.

It provides a platform to deploy decentralized applications that would use the peer to peer architecture and direct delivery approach to optimize the dynamics of this middlemen free ecosystem.

By the use of TRON digital content creators can receive the revenue directly that is paid by the end user.

TRON greatly reduces the traffic dependency on social media sites like facebook. This is because the traffic will be flowing back and forth between the producer of content and the consumer thereby removing the need of any intermediary sites.

TRON Implementation Roadmap

TRON is an extensive project started with a plan to roll out the entire network in a six stage process starting in 2017 and being fully functional by 2023.

1. Exodus this is the first stage of TRON implementation it is a free platform for P@P distribution storage and content.

2. Odyssey in this stage of implementation economic incentives would be provided to encourage creation of content.

3. Great Voyage in this stage of TRON implementation the ecosystem would have the ability to launch individual ICO's.

4. Apollo ability to launch own tokens by the producers would be built in and made functional in 

this stage of implementation. These tokens would be backed by the TRON 20 tokens.

5. Star Trek would emulate a decentralized forecasting and gaming platform similar to Augur.

6. Eternity as the name suggest would be the final stage of TRON implementation which would incorporate the functionality to raise funds and monetize based on the growth of the community. 

In essence TRON can be seen as the evolution of IPFS and implementation of the ethereum platform.

TRON ICO

The TRON ICO was held between August 3, 2017 to August 24, 2017 that was a great success.

TRON Facts

TRON is founded by Justin Sun who is also the CEO of TRON. He has many achievements to his claim such as

- 2015 Forbes China 30 under 30

- 2017 Forbes Asia 30 under 30

- Founder of Peiwo APP which is the Chinese version of Snapchat.

TRON has the backing and support of eminent people from the Chinese business community such as Tang Binsen - Founder of clash of kings mobile games, Xue Manzi who is an angel investor from China.

Hitters Xu who founded Nebulas.

Chaoyong Wang who founded china equity group with $2 billion market value.

Dai Wei who is CEO of OFO bike.

Best places to buy TRX

TRON is the network and Tronix (TRX) is the TRON coin that is a crytocurrency used on the network.

TRX being a cryptocurrency requires a cryptocurrency exchange. Some of the exchanges where TRX can be purchased and traded are 

- Binance

- Liqui

- Bitstamp

- Coinbase

Best wallets to store TRX

Originally the TRX coin was ERC20 compliant and compatible with most of the popular ETH wallets. As of 31st May 2018 when the main net of TRON was launched it transitioned to having its own wallet for android IOS Mac Windows and chrome.

Some third party wallets like Cobo and Bitpie can be used for storing TRON.

Conclusion

TRON and its TRX coins are a game changer for the digital content industry. Once TRON is fully rolled out it would make the industry flourish and help support the content creators and up loaders immensely.

The TRX tokens have got immense support from investors as well as crypto enthusiasts. The TRON network would enable creation and implementation of smart contracts on its network. The TRON ecosystem is making steady progress and the project is well on track to see success.

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