Tron is a blockchain-based decentralized platform that wants to build a free, global digital content entertainment system with distributed storage technology, and enables easy and cost-effective sharing of digital content. The Tron network uses its cryptocurrency which is called Tronix (TRX).
Tron was founded in 2017 by a Singapore based non-profit organization named the Tron Foundation. It is managed by CEO Justin Sun and has a dedicated in-house development team that includes renowned technology stalwarts.
Eliminate the Middle Man
Using the features of the blockchain and peer-to-peer network technology, Tron wants to bridge the gap between content creators and content consumers by eliminating the middleman. So the overall cost is reduced for the consumer and improved collection through direct receipts for the content producer, offering a win-win situation.
Tron replicates the business model on a public blockchain network and acts as a distributed, decentralized storage facility which makes it more efficient and cost-effective. It eliminates the middleman by allowing anyone and everyone to host digital entertainment content on its blockchain-based network. The global audience can directly pay the content creators to access the content.
In the process, Tron’s open, decentralized platform and distributed storage technology tries to address a significant issue – the challenge of powerful corporations controlling the Internet and its content – making it a level playing field.
The Future Potential of Tron
Tron is an ambitious initiative that has lined up many potential milestones in the coming years.
The current offering is called Exodus, the free platform suitable for peer-to-peer distribution and storage of content. Exodus is not using blockchain technology but uses a special web-based file system protocol instead that supports a distributed file system.
Odyssey, which leverages the power of blockchain, involves monetary incentives to promote the creation and hosting of content on Tron.
Instead of following the traditional ways of tracking clicks and views of the content being accessed, Odyssey bases the incentives producers on a method that depends on user interaction and engagement with the content.
The next two phases, called Great Voyage (mid-2020) and Apollo (mid-2021), enable content creators to build their brands, get the ability to issue individual initial coin offerings (ICO), and even issue personal tokens. These stages of Tron are akin to Ethereum-style blockchain-based application platforms.
Tron also expects two more stages, called Star Trek (mid-2023) and Eternity (late-2025), where participants can create their decentralized gaming and predictive markets platforms, and will also be able to raise funds.
What Is Tronix (TRX)?
Tron’s cryptocurrencies which are called Tronix (TRX) are sold on exchanges like Liqui and Binance by exchanging them for other cryptos such as ETH or BTC. It can be stored on wallets that support the Ethereum blockchain like MyEtherWallet.
Tronix can be used by consumers to pay for the content they want to access. These coins would then go to the content producers’ accounts, so they can be exchanged to other cryptocurrencies, or can be used to pay for blockchain services.
Tron’s clearly outlined long-term vision with date-tagged milestones, and the increasing popularity of digital content with the promise of lower costs makes it a positive endeavor in the blockchain space. Its prospects are also boosted by a solid backing of rich and established Chinese traders.