Tron is a blockchain-based decentralized content entertainment platform. It aims to make the Internet more free and open, with its cryptocurrency TRX as the key driving force.
Tron is a popular new cryptocurrency that has been gaining a lot of attention recently. It’s price prediction is high and it’s value is increasing. Read more in detail here: tron crypto price prediction.
Tom Alford is a British actor. contributed to this article. 17th of August 2018
Have you ever fantasized of having unlimited access to free internet entertainment? Have you ever felt that Apple was overcharging for entertainment in their app store? Tron aspires to create a fully decentralized content sharing network that will change online content for the better. Does this pique your interest? So, let’s go through what the platform does, what the TRX currency is, and how Tron may revolutionize the way we consume digital content.
What Is Tron Coin and How Does It Work?
To begin, you should be aware that Tron currency is also known as TRX. The two names are interchangeable and refer to the Tron platform’s cryptocurrency. So, what is the TRX coin? It’s a value storage and transfer system that pays content creators for the amount of interaction their material receives on the Tron platform.
Sure, many content creators will sell their TRX tokens for fiat and pay their expenses on a cryptocurrency exchange. The flow of Tron currency, on the other hand, is not one-way. Regular Tron content users are likely to desire to purchase digital goods. Games are one kind of content, and many people like purchasing digital in-game goods. TRX coin will be the money used to purchase in-game goods in Tron-based games. Similar to Twitch contributions, users of the site will most likely wish to tip their favorite content creators.
In a word, Tron is attempting to provide a fully free content ecosystem based on blockchain technology. The goal is to eliminate the middlemen that now control content distribution networks and compensate content producers more directly. The idea is that this will put more money in the wallets of well-known content producers, allowing them to create even more material that people want to watch.
Decentralization implies that material is neither restricted or controlled when it comes to entertainment and content. What counts in the end is how many people liked the material. This is why, with Tron, a content author will be rewarded with TRX currency for every upvote/like they get.
What Is The Current State Of The Entertainment Industry?
Content producers now have little option but to work via intermediaries such as Apple, Google, and YouTube. It doesn’t matter what kind of material you produce; you’ll be compelled to monetize it via these large corporations. What you receive in exchange is a platform to display your material on, with the expectation that it will get enough attention for you to earn some money.
The issue is that all of these platforms take a significant portion of the money generated by your work. The present approach is creating content, uploading it to a large company’s platform, and then letting them decide how much to pay you. Doesn’t seem very equitable, does it?
Worse, these large corporations have the ability to do anything they want. Rules may be established, and any material that does not follow them will be demonetized. This stifles creative freedom since content producers are more inclined to create material that can be commercialized. This is a type of censorship that many people consider to be a major problem on YouTube.
Content ownership is also a problem. Do you have ownership of a video you post to YouTube? Unfortunately, you will discover that YouTube owns the material you spent hours producing.
At the moment, content creators are receiving a raw deal. A few individuals have become very rich as a result of their control over content platforms. Worse, this state of affairs does not seem to be changing anytime soon, and content producers are growing increasingly reliant on these platforms to earn a livelihood.
What Is the Purpose of Tron?
Tron’s main beliefs are as follows:
- The right to free speech must be protected, and everyone should be allowed to publish anything.
- All digital material should be available for free.
- There should be no censorship of content.
- Content producers should have ownership of their work.
- Platform intermediaries should be eliminated.
A number of nations across the globe restrict the material that their people are allowed to see. Because of Tron’s decentralization, information cannot be controlled, and freedom of expression is protected.
Content producers are paid for the amount of individuals who like their work on the Tron platform. This implies that people’s favorite material may be created without worrying about whether or not it will be demonetized. As a result, viewers will receive more of what they desire, and excellent content creators will be rewarded.
Season 4 of ‘Rick & Morty’ is a great illustration of how corporate censorship may have negative consequences for content consumers. There’s no denying that the TV program is very popular and has a large fan base. There were rumors in early 2018 that the program may be canceled owing to the TV channel’s lack of revenue possibilities. Such an occurrence would never occur on the Tron platform; a successful program would earn its creator more than enough TRX currency to create another season. This is why Tron should result in the production of more material that people really want to watch, as well as the removal of the existing entertainment industry’s irritating barriers.
What Can TRX Coin Be Used For?
The Tron platform is designed to house all types of digital entertainment. This includes television programs, movies, video games, applications, social media, and more. The platform may be thought of as a new decentralized internet.
Content creators will be able to create their own currencies or just utilize Tron currency. Those that have their own currency, on the other hand, will utilize TRX as an intermediate currency. For example, if I had $5 to spend on Clash of Clans gems, my $5 would be converted into TRX coins, which would then be used to purchase my gems. Every purchase or transaction on the Tron platform will include Tron currency in some manner.
The Peiwo app, which is China’s largest audio content app, is a wonderful example of how TRX Coin may be utilized. It is also owned by Justin Sun, the creator of Tron, and has more than 10 million registered members. TRX currency has been fully integrated into the app, allowing users to tip their favorite content creators and give virtual gifts.
If you believe that no one will utilize the tipping function, you are mistaken. We dare you to go to Twitch or YouTube and see how many famous videos you can discover without Twitch contributions or YouTube super conversations.
What Is The Structure Of The Tron Crypto Project?
The Tron foundation was created to guarantee that money generated during the initial coin offering (ICO) be utilized appropriately and transparently. The structure’s purpose is to guarantee that Tron continues to progress throughout the course of its 10-year plan. The foundation is divided into three tiers:
The decision committee, which sits at the very top of the pyramid, makes the ultimate decision on all issues. The committee’s members are all equal, and they are in charge of evaluating and approving the foundation’s decisions.
The CEO, whose duty it is to oversee Tron’s day-to-day operations, is chosen by the decision committee. Justin Sun has been elected to this post, which is unsurprising. The several departments reporting to the CEO must then submit recommendations to the decision committee for approval.
The Team
With over 100 employees, the Tron team is unusually big for such a new company. Check them out here, dressed to the nines in their Tron tees. With headquarters in Beijing and San Francisco, the Tron army seems to be well-organized and ready to expand.
Another 20 jobs are available at the time of writing this article. Many of the positions are in human resources, public relations, and translation, which all scream ambitious growth and outreach.
Let us now shift our attention to Justin Sun, the company’s founder and CEO, who is the driving force behind the Tron vision and narrative. When it comes to making things that function, Sun is no slouch. Prior to Tron, he created the Peiwo app, which continues to be China’s and perhaps the world’s biggest music sharing service, with over 10 million users. He also played a key role in the rapid development of Alibaba.com, having mentored the company’s founder, Jack Ma. For three years in a row, he was named to Forbes’ 30 under 30 list (2015-2017).
So these are the facts about Justin Sun that we can trust. He has a proven track record of launching and running profitable media sharing businesses. He has a slew of prominent internet movers and shakers in his network. He seems to be dedicated to the development of teams and mentoring.
Overall, the team is rapidly expanding and will undoubtedly face some intriguing difficulties as it attempts to integrate a significantly expanded area of operations. Its structure is evolving, with additional outreach, internal management, and brand-awareness positions being added. It operates under the direction of a man who, despite his age, is a seasoned businessman.
In summary, the TRX crypto team seems to be a vibrant group capable of achieving success.
TRX Coin’s Long-Term Prospects
Investors in Tron coins have a lot to be excited about. Not only has Tron’s mainnet been established, but Justin Sun has already shown his ability to form major collaborations. Tron has a long list of partners, including Piewo, Game.com, Odyssey, Gifto, Kitty live, and more. Tron has amassed a user base of over 100 million people and counting via partnerships alone.
Of course, Tron’s success is contingent on forming additional partnerships and bringing their content and users onto the network. Tron has to become a home for very popular material that can’t be found anywhere else if it is to be genuinely successful. Creating this ecosystem would serve as a strong motivation for consumers to choose Tron over existing platforms, similar to what we’ve seen with Netflix and Amazon exclusives in recent years.
Tron is still a long way from worldwide dominance. However, the initiative is gathering momentum, and we can’t wait to see whether this alternative to the internet becomes widely embraced.
The Tron Coin Initial Coin Offering (ICO)
Tron launched its initial coin offering (ICO) on September 2nd, 2017, just as the cryptocurrency markets were exploding. Yes, the project has a 10-year timeline and plans to completely finance the platform with money generated during the ICO, but the $70 million raised during the ICO is undoubtedly one of the largest in cryptocurrency history.
At the ICO, 40 billion troncoins were sold for $0.021 apiece. This is equivalent to 40% of the total TRX currency supply.
Should I Put Money Into TRX Coin?
Pros
- Justin Sun, the company’s CEO, has previously shown his leadership abilities as well as his capacity to develop and expand companies.
- The digital entertainment business, in general, is primed for upheaval.
- The value case for content producers is obvious, and they should be better off with Tron than they were before.
- Censorship and platform restrictions often result in the creation of bad content. It makes a lot of sense to pay content creators based on how popular their work is.
- Producers of material, not platforms, should own their work. Tron’s safeguards should make content production a more feasible employment option for many people.
- Troncoin is a brilliant idea. The Tron platform, without a doubt, need a currency.
- The initiative has the ability to successfully build the future internet version.
Cons:
- Justin Sun may be a little too motivational. Justin has a sizable fan base and is on the verge of becoming a cult figure. He is a guy who can do no wrong in the eyes of the Tron army, which has its own set of issues.
- To appeal to general consumers, the platform need additional material. If Tron is to thrive, it must continue to establish partnerships and enroll more people to the platform.
- The initiative is enormous, and it’s unclear how companies like Apple and Spotify would respond if they feel threatened.
- Because of the uncensored material, Tron is likely banned in several places. It remains to be seen if this will be a barrier to user uptake.
Image courtesy of Coinmarketcap.com.
What is the best way to purchase Tron Coin?
TRX may be purchased in a variety of ways. In our dedicated purchasing walkthrough, we go through our preferred methods.
Final Thoughts
There’s no denying that the TRX cryptocurrency has garnered a lot of interest and has a sizable fanbase. We believe the idea has tremendous promise and has the ability to fundamentally disrupt the digital entertainment industry. What we like most about the initiative is the underlying philosophy: that digital content creators should be properly compensated and should only concentrate on what consumers desire.
Censorship in the entertainment business is common, and millions of fans have been upset when their favorite program has been canceled. Tron gives us another choice, one that enables material to be produced simply because it is what people desire. We believe that eliminating censorship and commercialization restrictions would improve everyone’s digital content experience.
Will Tron be a success? We have no idea. We do know, however, that the initiative has the potential to provide a great deal of value and may be the next big thing.
Resources
We’ve included a list of useful Troncoin resources below.
What Are the Best Free Wallets?
TRX currency requires its own blockchain, therefore it must be stored in a separate wallet. You shouldn’t search any farther than the official Tron wallet:
? Tron Coin’s Best Crypto Tracking App
Useful Websites
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
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Author Biography
Tom Alford
Tom is a cryptocurrency specialist and investor from Edinburgh, Scotland, who has worked in the industry for over 5 years. He graduated from the University of Nottingham with an MA in diplomacy and a BA in politics, providing him a solid grasp of the social and political ramifications of cryptocurrencies. He is a big supporter of the future use of blockchain technology and believes in long-term initiatives above short-term profits. Tom may be reached at [email protected].
Tron is a popular new cryptocurrency that has been rising in popularity. It was created by Justin Sun, who also founded Peiwo APP. Tron’s goal is to decentralize the internet and allow for content creators to get paid without having to rely on advertising revenue. Reference: tron price history.
Frequently Asked Questions
Is Tron a good investment 2021?
Tron is a good investment in 2021.
Which cryptocurrency should I invest in 2021?
The best cryptocurrency to invest in is Bitcoin because it has the highest market capitalization.
Which cryptocurrency is TRX?
TRON is a cryptocurrency that was founded by Justin Sun in 2017. It is a decentralized platform which allows the creation, hosting and distribution of content online.
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