What is Tron (TRX)?
Tron is a blockchain based decentralized platform that aims to build a free global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content.
Tron was established in September 2017 by a Singapore-based non-profit organization called Tron Foundation. It is headed by CEO Justin Sun, and has a dedicated internal development team that includes well-known technology stalwarts. This article explores the Tron network, how it works, and Tronix (TRX) cryptocurrency.
Elimination of Intermediaries
By exploitation options of blockchain and peer-to-peer (P2P) network technology, Tron tries to bridge the gap between content creators and content consumers by eliminating intermediaries. The end result is a reduction in overall costs for consumers and increased collection through direct receipt for content producers, which offers a win-win situation.
To draw an analogy with real-world applications, consider Netflix, which operates digital entertainment services that offer content on demand. Services are controlled by one organization centrally. Someone might need to subscribe to and pay Netflix to watch movies based on certain requests that might have been produced by a group of beginner fans who host them on the Netflix platform. From the fees charged to customers, Netflix took the cut to host films on its platform and pay the rest to the producers. Often, the lion's part is taken by an intermediary.
Tron replicates this business model on the public blockchain network and acts as a decentralized decentralized storage facility that makes it more efficient and cost-effective. This aims to eliminate intermediaries, such as Netflix in the example above, by allowing anyone and everyone to host digital entertainment content on its blockchain-based network. Global viewers can pay directly to content creators to access content.
In the process, an open and decentralized platform from Tron and distributed storage technology also seeks to overcome the main problem - a very few, and strong challenges, the company that controls the Internet and its contents - makes it a balanced playground.
Tron's Future Potential
Tron is an ambitious initiative that has presented many potential milestones in the years to come.
The offer is currently called Exodus, a free platform that is suitable for the distribution and storage of peer-to-peer content. Output does not use current blockchain technology, but uses a special web-based file system protocol that supports distributed file systems. This phase is expected to continue until December 2018.
The next phase, called Odyssey, is scheduled for go-live around January 2019. Odyssey, which will utilize the power of the blockchain, will involve monetary incentives to promote the creation and hosting of content in Tron.
Instead of following ancient ways in which to trace clicks and show content accessed, the Odyssey plans to base producer incentives on methods that will depend on user interaction and engagement with content. This might be related to a "tipping" plan - something like a gift based on how good the content is felt by the user.
Imagine listening to a licensed guitar player who appears on a street corner. You like the initial melody, and move closer to listening to full performance. After the action is complete, you tip street artists based on how much you enjoy their appearance - or pay more to continue watching the next show. The Tron incentive scheme may be the same, where you can access smaller initial trailers for free or for a small fee, and then choose the full paid version if you like the preview.
The next two phases, called Great Voyage (mid-2020) and Apollo (mid -2021), are expected to allow content creators to build their own personal brands, gain the ability to issue individual initial coin offerings (ICOs), and even issue personal tokens. The next Tron stages will be similar to Ethereum's blockchain based application platform. (For more, see An Introduction to Ethereum Classic.)
Tron additionally expects 2 any stages below the road, called Star Trek (mid-2023) and Eternity (end-2025), where participants will be able to create their own decentralized games and predictive market platforms, and will also be able to improve fund.
What is Tronix (TRX)?
The Tron network uses its own cryptocurrency referred to as Tronix (TRX).
One can buy Tronix on exchanges such as Liqui and Binance by exchanging it for other cryptocurrency such as ETH or BTC. Purchases with fiat currencies are not possible at this time. This can be stored in a wallet that supports the Ethereum blockchain like MyEtherWallet.
Tronix will be utilized by content costumers to purchase for the content they need to access. These coins will then go to the content manufacturer's account, where they can be exchanged for other cryptocurrency, or they can be used to pay for the blockchain service.
