Opinions are strongly divided between those who, on the one hand, believe in the value of the project and, on the other, believe that the currency is no more than a fad.
In part, this is also due to the personality of its CEO, Justin Sun, who does everything to be media, since he knows that this is a way to boost the growth of the project.
What is Tron?
The project of this cryptocurrency was born in 2017, created by Justin Sun, current CEO of Tron Foundation - a non-profit company based in Singapore.
Its token is known as Tronix (TRX). It initially started as an ERC20 token (that is, it existed on the Ethereum blockchain ).
However, in 2018 Tron successfully concluded the launch of its blockchain.
Tron aims to build a decentralized ecosystem of entertainment content, which facilitates the creation and dissemination of the same.
One Step Back ...
To better contextualize, it is necessary to take a step back and understand the business model of the entertainment platforms that lead the current market ...
Platforms such as YouTube host the content produced by our favorite creators ( streamers, YouTubers, series, songs, etc.) which we can later access and consume for hours and hours of entertainment.
What do those platforms gain from that?
Access to this content may be free or require a monthly subscription or purchase of the service.
Not forgetting that being free, we are always subject to advertisements that can often be considered invasive.
Part of the profit generated is shared with the creators of the content, under the terms determined by the platforms that host the content.
However, these platforms have great power of control over the content and its respective creators.
They control all the variables that determine the possible views and profits generated by these contents using a centralized business model.
And that can be a problem.
The review of content creators has been increasingly frequent, demonstrating their dissatisfaction with the policies of censorship that demonetizes the content that is placed on these platforms.
The same applies to app stores, a market currently dominated by Apple and Google, which make mobile operating systems on virtually all cell phones and tablets.
Two Steps Ahead?
Drawing on the innovative features of blockchain, TRON token development aims to approximate the relationship between consumers and content creators.
This proximity is created by eliminating intermediate elements of this process.
The intermediaries in question are the entertainment platforms that control and receive a "fat" share of the profits that belong to the content creators.
In summary:
The current business model flaw that TRON intends to explore is the centralization of the entertainment traffic that exists on the Internet.
These contents are mostly controlled by a small number of large companies such as Google, Facebook, Amazon, and the like, which in turn control platforms such as YouTube, Twitch, Google Play, etc
How does Tron work?
Tron architecture.
This illustration represents the current architecture of this project, which is divided into 3 stages:
Applications - where developers can create and install decentralized applications, as well as create and customize their tokens on the Tron blockchain;
Core - where the main components of the protocol are, such as smart contracts, software development kits (SDK), and other modules that are used in the creation of decentralized applications;
Storage - Tron applies a distributed data storage model on its blockchain, which allows for rapid processing and updating.
To achieve these goals, the TRON protocol aims to take advantage of peer-to-peer (P2P) technology and the blockchain.
The TRON blockchain uses the consensus algorithm known as Delegated Proof-of-Stake - an algorithm derived from Proof of Stake that allows TRX holders to generate passive income.
This means that when buying TRX you can store them in a wallet that allows you to stake your coins.
In this way, you are often rewarded with more TRX for your contribution to the Tron network.
The Tron blockchain supposedly can process 2,000 transactions per second (TPS). A number was much higher than the 7 TPS of the Bitcoin network. However, this information has not yet been verified by third parties.
Some Associations
TRX can have other uses thanks to some associations that have emerged, some of which are:
Game.com - Tron created a partnership with this online gaming platform to extend its presence in the gaming industry.
Gift - A decentralized platform where it is possible to offer virtual gifts.
Peiwo - A social media network, also founded by Justin Sun, often referred to as China's Snapchat.
Alliance announcements and rumors have always contributed to the controversy surrounding this project, leading many crypto enthusiasts to label TRON a " shitcoin " due to these aggressive marketing tactics.
However, it is safe to say that Tron token development is a well-positioned cryptocurrency for exploring the Asian social media and entertainment market. The volume of traffic is huge!
Wink
It is on the Tron blockchain that one of the most popular dapps resides: Wink (previously TronBet).
Wink is a decentralized gambling and casino gaming platform that allows you to use TRX for gambling.
Developers can create games and then be rewarded depending on the success of the game.
This dApp is one of the largest, not only on the TRON blockchain but in the entire market.
It has an average of 10,000 users per week, handling 1,351 trillion TRX
The Personification Of The Project
TRON CEO Justin Sun is a well-known "crypto-celebrity." At the age of 30, he has in his CV positions such as Chief Representative of Ripple, CEO of BitTorrent, and now CEO of Tron.
Justin is one of the great reasons why this cryptocurrency has a profile surrounded by so much controversy.
His personality and behavior on social media are notorious, particularly for his marketing tactics.
Some see him as a role model, while others call him an "imposter."
Despite what people may think, the truth is that TRON is one of the most popular cryptocurrencies in the media, something that always influences the price of a coin.
Acquisition of BitTorrent
In 2019, Tron bought BitTorrent (BTT), a cryptocurrency created on the Tron blockchain, and with a vision aligned to decentralize the Internet.
How to Buy Tron (TRX)?
Platforms like IQ Option greatly facilitate investing in cryptocurrencies.
When investing through a broker, the need to configure virtual wallets (discarded wallets ) to keep your safe criptomonedas , which is a Recommended Practice for the time to buy in a bag.
For this reason, the buying and selling process becomes very simple.
In addition to other advantages, this broker offers tools called CFDs.
With CFDs, you can make a profit with the rise and fall of the price of cryptocurrencies, unlike other options. This is one of the few types of investment in which that happens.
TRX price
On the date of its ICO, in September 2017, a TRX cost approximately 0.002 USD. That is, less than 1 cent per TRX!
The price of Tron reached an all-time high of $ 0.254 in January 2018, which represented, at height, a growth of 125 times its initial value.
Since then, it had a great correction in its price that, to tell the truth, affected the entire cryptocurrency market at the beginning of 2018.
2020 was a good year for Tron. This cryptocurrency grew close to 80%, once again encouraging its investors. However, this value is well below what it achieved in other years.
Conclusion
TRON's goals are undoubtedly ambitious!
Decentralizing the business model of big tech companies and bringing power back to content creators would undoubtedly be a game-changing feat.
With everything you've shown so far, it can be said with some confidence that this is not just a shitcoin (dubious project).
It would be good to see the final result of some of their collaborations already obtained to understand more clearly all that Tron can achieve.
We recognize that, like many others in this market, this project is in an early stage, despite the large network of business contacts that it has already achieved.
