TRON (TRX) is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
Peiwo App with over 10 million users will become the first TRON-compatible entertainment APP. Peiwo App is the Snapchat of China.
TRON’s open, decentralized platform and distributed storage technology will allow creators, programmers, app developers of digital content to cut out middlemen such as the Apple Store, Google Play Store, Amazon marketplace, and other content channels to accept real time payments with no fees from consumers.
In the beginning of designing TRON, the following core values are always adhered to:
1.Date creators (users) will have the fundamental ownership of data, and the internet should be decentralized. This was proposed by doctor Tim Berners-Lee at the time when the internet was born and the original intention for creation of the internet.
2.Those who make a contribution to ecological TRON will be entitled to proportional profits according to rules. A value network has the greatest advantage that may digitally capitalize anything in social and media networks.
3.All forms of contribution should be of equal quantitative value. Substantially, the time invested by participants, excellent contents created and attention are of the measure value as equal as the furnished capitals.
4.The fundamental objective of TRON is to provide services for the public. As an ecology operated by a non-profit foundation, TRON is designed to serve the masses who enjoy content entertainment throughout the world, rather than for the purpose of gaining profits. All TRON participants will benefit from its prosperity.
5.Contents should derive from people rather than capitals which should be used to reward people rather than to control people. Cultural and creative industries should be mainly driven by the pursuit of the quality of art and contents by content creators, artists and scriptwriters rather than the capitalists who consume no contents.
With the company seeking long-term investment and pushing away those investors looking to make a quick profit, the TRX token themselves will be able to be locked away to gain TP. Doing so will give users upward mobility in the ecosystem with power moves such as voting rights and higher status. The longer your tokens are locked away, the more TP TRON will reward you.
How Does TRX Work?
This is a long-term project with a set of phases beginning with Exodus in 2017 and ultimately leading to Eternity in 2023. Below are the key features of each stage.
- Exodus: The free platform for peer to peer distribution, storage, and content.
- Odyssey: Economic incentives put in place to encourage content creation and empowerment
- Great Voyage: Individual ICO capabilities
- Apollo: Ability for content producers to issue personal tokens (TRON 20 Token)
Steps 5 and 6 both look to further the ability to decentralize the gaming industry. They allow developers to build gaming platforms freely and then achieve monetary incentives upon establishment of said games.
CEO and founder of TRON, Justin Sun, is often said to be “the next Jack Ma”, the founder of Alibaba. Sun holds an extremely impressive resume at just 27:
- Graduate of the University of Pennsylvania
- 2015 Forbes China 30 under 30
- 2017 Forbes Asia 30 under 30
- founder of Peiwo APP (China’s Snapchat)
- attendee of Hupan University founded by Jack Ma
- former chief representative of Ripple China.
Aside from Sun, the team includes other key players. CTO Lucien Chen is a former employee of Alibaba with extensive experience working with first-tier internet companies such as Netease, Qihoo 360, and Tencent.
TRON is already well supported by top Chinese developers on its team yet is continually expanding its employee base with members with veteran technical expertise such as Maorong Lin and Xiadong Xie. Together, the two employees bring years of technical development experience in the entertainment industry and internet commerce.
TRON is backed by notable members of the Chinese business community such as Hitters Xu (founder of Nebulas), Tang Binsen (founder of mobile game Clash of Kings), Xue Manzi (famous Chinese angel investor), Chaoyong Wang (founder of China Equity Group with $2 billion market value), Dai Wei (CEO of OFO bike), Huobi.com, and many more.
Other things to note about Tron:
Tron is not mineable like Bitcoin. At the time of writing, the circulating supply was 67,648,222,9875 TRX with a total supply of 100,000,000,000 TRX.
You have the ability to trade TRX on exchange sites such as Liqui & Binance for either ETH or BTC. New users can purchase BTC or ETH coins on Band deposit it to their wallets on Binance.
You can view Tron’s Github page directly here — https://github.com/tronprotocol
At the time of this article, Tron is running at roughly 6 cent per token with a strong potential future.
You can view their official registration and regulation documents here — https://dn-peiwo-web.qbox.me/tron/Bizfile-Tron-Foundation-2017.07.28.pdf
TRON wants to change the way content is being rewarded through the following features:
- Data liberation: free and uncontrolled data
- Enabling content ecosystem where users can obtain digital assets from content spreading
- Personal ICO with the ability to distribute digital assets
- Infrastructure to allow distributed digital assets exchange (such as games) and market forecasting.
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