Tron is a decentralized blockchain-based platform that aims to build a free global digital content entertainment system with distributed storage technology, allowing digital content to be shared easily and cost-effectively.
Tron was founded by a Singapore-based non-profit organization called the Tron Foundation in September 2017. It is led by CEO Justin Sun and has a dedicated internal development team that includes renowned technology strikers. This article examines the Tron network, its work, and its Tronix (TRX) cryptocurrency.
Elimination of the average person
The development of Tron seeks to bridge the gap between content creators and content consumers by eliminating the middle man, by utilizing the features of blockchain and peer-to-peer (P2P) network technology. This results in an overall reduction in costs to the consumer and better compilation through direct revenue to the content producer, offering a winning scenario.
To make an analogy with a real-life application, consider Netflix, which operates a digital entertainment service that offers content on demand. An organization manages services centrally. You may need to subscribe and pay Netflix to watch a particular movie on demand that may have been created by a group of young enthusiasts hosted on the Netflix platform. Of the fee charged to the subscriber, Netflix charges a fee for hosting the movie on its platform and pays the rest to the producers. Often the medieval man takes the lion.
Tron replicates this business model on a public blockchain network and serves as a decentralized distributed storage facility, making it more efficient and profitable. Their goal is to cut out the middle man, like Netflix in the example above, by allowing everyone to host digital entertainment content on their blockchain-based network. The global audience can pay content creators directly to access the content.
In the process, Tron's open and decentralized platform and Tron's distributed storage technology seek to address a major problem: the challenge of too few powerful corporations controlling the internet and its content, resulting in a level playing field.The current offering is called Exodus, the right free platform for peer-to-peer content storage and distribution. Exodus uses a special web-based file system protocol that supports a distributed file system. Odyssey, which will harness the power of the blockchain, will include monetary incentives to promote content creation and hosting on Tron.
Rather than following traditional ways of tracking clicks and access to content being accessed, Odyssey plans to establish incentives for producers in a way that is based on user interaction and engagement with the content. It could be tied to a "tipping" plan, something like a reward based on how good the user felt about the content.
Imagine listening to a licensed guitarist operating on a street corner. You like the opening melody and you zoom in to hear the full performance. When his performance is over, you take on the street performer based on how much you enjoyed his performance, or pay him more to keep listening to his next concert. There may be a similar incentive scheme from Tron, where you get access to the smaller front trailers for free or for a small fee, and then go for the full paid versions if you like the previews.
The next two phases, called Great Voyage (mid-2020) and Apollo (mid-2021), are expected to allow content creators to build their brands, the ability to issue individual initial coin offerings (ICOs), and even issue tokens. personal. Ethereum-style blockchain-based application platforms will be similar to these later stages of Tron.
The development of Tron also looks forward to two more steps in the future, called Star Trek (mid-2023) and Eternity (late 2025), where participants will be able to create their decentralized gaming platforms and intended markets, and will also be able to raise money.
What is Tronix (TRX)?
Tron's network uses its cryptocurrency called Tronix (TRX).
Tronix can be purchased on exchanges such as Liqui and Binance by exchanging them for other cryptocurrencies such as ETH or BTC. It is not possible to buy with fiat currencies at this time. It can be stored in a wallet that supports the Ethereum blockchain like MyEtherWallet.
Consumers can use Tronix content to pay for the content they want to access. These coins would then go to the accounts of the content producers, where they can be exchanged for other cryptocurrencies or used to pay for blockchain services.
In March 2021, TRX was ranked 22nd on the list of the largest cryptocurrencies by market capitalization.(See also Tron Surges: Ethereum surpasses $ 1,000 as Bitcoin price falls.)
The baseline
Given Tron's long-term vision that is clearly outlined with date-tagged milestones, and the growing popularity of digital content and the promise of lower costs, it makes a good push into the blockchain space. Its outlook is also boosted by strong support from China's wealthy and established investors.
