Tron is a blockchain-based platform with a decentralized system and seeks to create a free, worldwide digital content entertainment system. Tron’s distributed storage technology makes it simple and inexpensive to share digital information.
Where did Tron come from?
Tron was created in September 2017 by the Tron Foundation, an Asian non-profit organization based in Singapore. This foundation is led by CEO Justin Sun and has a domestic development team comprising well-known technology veterans.
Tron Foundation earned $70 million in an initial coin offering (ICO) in 2017, just before cryptocurrency exchanges were prohibited in China.
Tron’s protocol has changed to an independent p2p network in 2018.
The Tron Foundation announced on July 25, 2018, that it had completed the announced acquisition of BitTorrent, which is the world’s largest p2p file-sharing network.
In August 2018, BitTorrent Founder Bram Cohen announced his departure from the organization to establish Chia, a cryptocurrency designed to be less energy-intensive than bitcoin.
Tron had a market worth of $1.6 billion as of January 2019. Despite this earnings growth, certain analysts saw Tron as an example of how cryptocurrencies are complicated and chaotic.
BitTorrent launched a sale for its token based on Tron in February 2019 after being purchased by Tron Foundation.
What Is Tronix?
Tron offers a cryptocurrency called Tronix (TRX). Users can use Tronix to pay for the content they want to view and use. These tokens will then be sent to the content creators’ accounts, and there, they can be traded for other currencies. It’s also possible to use these tokens to pay for other blockchain services.
TRX was placed 22nd on the list of the top cryptocurrencies by market capitalization in March 2021.
What was the plan for Tron?
Tron tried to fill the gap between content producers and consumers by removing the intermediary through utilizing blockchain and P2P network technologies. Consequently, the consumer’s overall cost was reduced, and the content creator’s collection was enhanced through direct receipts, creating a win-win scenario.
Tron’s blockchain-based network is an effective and decentralized platform that seeks to cut out the intermediaries by enabling everybody to publish digital entertainment content. To gain access to the material, the worldwide audience could compensate the content providers personally.
Meanwhile, Tron’s open, decentralized network and distributed storage technologies seek to address a major issue by leveling the playfield. And by that, we mean the issue of a few big companies dominating the Internet and all of its content.
What’s in store for Tron?
Tron is a large-scale project with several possible milestones in the next years.
Its initial product was Exodus, a free platform for p2p content sharing and storage. Exodus does not currently employ blockchain technology, instead opting for a web-based file system protocol. The current phase was scheduled to last until December 2018.
Odyssey, the following phase, was supposed to launch in January of 2019. Odyssey, a blockchain-based project, uses monetary incentives to encourage users to create and share their content on the Tron network.
Rather than measuring views and clicks on the traditionally viewed material, Odyssey intends to reward creators through a technique based on consumer engagement and interaction with the content. Something like a prize based on how well the consumer receives the content.
You could access the first shorter sample contents for free or for a modest price under Tron’s incentive program and then choose the full premium versions if you enjoyed the samples.
The following two phases, named Great Voyage and Apollo, are set to begin in mid-2020 and mid-2021. These phases are intended to allow content producers to establish their brands, issue personal ICOs, and even create personal currencies.
Tron reportedly anticipates two more stages, Star Trek, to begin in mid-2023 and late-2025, respectively. Participants are expected to develop their decentralized gaming and prediction markets systems and generate cash throughout these stages.
Tron’s well-defined long-term goals with date-tagged objectives, as well as the growing interest in digital content with the prospect of lower prices, make it a potential blockchain venture. Its chances are further bolstered by the strong support of wealthy and well-established Chinese investors.
Multiple developers from the Alibaba group joined Tron’s development team in the last months of 2017, fueling speculation that a collaboration between Tron and Alibaba is making. It will be fascinating to watch how Tron answers these promises.
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