According to the founders, TRON is a blockchain based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. In other words, the Tron aims to create an entertainment platform which allows the different content creators to have a complete control over their content. This can be related to a decentralized Netflix, App Store or similar.
What is TRON
Tron uses a blockchain network to allow content creators to gain full control of the content that they produce. Tron aims to create an entertainment platform where the content creators and content consumers have a mutually common place to interact and consume the content. Tron is a blockchain based decentralized protocol which creates a worldwide free content entertainment system that harvests blockchain to create a distributed storage technology.
Technology around TRX
The Tron project is a very complicated one and we will only be discussing the highlights here. There are three different tokens that are involved in the Tron Project, they are Tron 20, Tron Power and TRONIX.
The Tron power can be thought of as locked up TRONIX tokens, sometimes users volunteering chooses to lock up their TRX tokens and receive the TP or Tron Power tokens in return. This also credits the users with voting right and other privileges in the ecosystem. Tron power cannot be traded and it is more of a long-term commitment.
The TRONIX token is the most commonly traded token in the TRON market, the TRX token is readily available for trading and for purchase on the exchange platforms. This token is used to get access to the TRON platform and this very token is used to buy and sell the content on the TRON distributed network,
TRON 20 Token
The Tron 20 Token is used by the content creators to create and issue token of their own, this is similar to NEM.
The TRON platform allows the content creators to list their content on the TRON platform and this makes it available for purchase, the content could be anything from a range of music, films, books or even images. The content consumers will be able to make the purchase using the TRX tokens talked about above, these transactions will be done without the involvement of any transaction fees.
The TRON ecosystem also plans to incentivize the content creators to encourage them to move their content to the Tron Platform and help improve the TRON ecosystem. This helps get rid of censorship related issues as well as government intervention, this gives the users access to the website that was previously controlled by the government.
The Tron Project aims to solve the following problems.
- Decentralize the content sharing platform to make it free from censorship and government intervention.
- To reduce the content distribution fees while distributing the content, this will be done by giving complete control of the product to the content creators and thereby eradicating the middlemen.
Why should you invest in Tron?
This is perhaps one of the most important points that are taken into consideration while people invest in any coin. The two most important factors that control the price of any cryptocurrency are Demand and Supply.
Talking about the demand for the TRX coin, the users will be required to hold the TRON tokens to access the platform and as all the transaction on the platform will be made using TRX tokens. As more content gets listed on the Tron platform, more TRX tokens will need to be acquired by the users and the demand for the token will be bound to increase. However, the success of the tokens depends on the whole TRON platform, the value of the TRX tokens will only rise if the platform as a whole takes off positively. On the contrary, if fewer people end up showing interest in the platform and not much unique content gets listed, then the current holders are likely to sell their tokens and this will evidently cause a dip. The investment one makes in the TRX tokens would be based on their trust in the TRON ecosystem as a whole.
Tron has already made partnerships with companies such as Peiwo, Obie, and Baofeng and have over 200 million potential users at the moment.
The tokens are available for purchase on Binance and a few other smaller exchanges, being an Ethereum based token, it can be stored on ERC-20 compatible wallets including a few offline wallets.
Things to know about Tron
- Aims towards decentralizing the entertainment industry and removing barriers.
- There are three different TRON Tokens
- TRX is the token readily available for purchase and trade on the exchanges
- TRX can be exchanged for Tron Power or TP tokens which give the users controlling power but they cannot be directly sold.
- TRON is an Ethereum based Token.
- Already has many partnerships and several users.
Markets to trade TRX
TRX is picking up at such a pace, and mainly for the Mainnet launch that is scheduled to happen soon, and thus every exchange in India, and even on the International market are including TRX in their trade markets.
Some of the markets where you can trade / purchase TRON TRX include Binance, Upbit, Bithumb, Bit-Z, OKEx, Coinegg, Huobi, Bittrex, Liqui, Gate.io, HitBTC, Upbit, and for Indians, some of the markets to trade TRX include Zebpay, Koinex, Bitbns, and BuyBitcoin.