TRON is a protocol based on blockchain technology that was established by Justin Sun in 2017. Created for the entertainment industry, the TRON blockchain intends to build a decentralized content distribution platform to provide users with alternative models to centralized platforms, where production houses or distribution platforms dominate a massive segment of the wealth produced by creators.
What is TRX?
TRONIX (TRX) is the cryptocurrency that’s native to the TRON blockchain. Since its ICO, it is deemed by a large part of the community as one of the most promising cryptocurrencies out there. Along with Tezos, TRX is one of the most hyped blockchain projects.
TRON’s Goal and Product
TRON plans to allow each creator that’s using the platform to freely own and share their own content while also having the power to determine the conditions of their distribution to the general public, such as price distribution, access, and so on.
The overall goal is to give back content creators the right to use and enjoy their creations and make a new and fairer sharing ecosystem than most common centralized platform systems.
The TRON protocol and its native cryptocurrency TRX aim to provide an increasingly refined product throughout its journey. Its stabilized back phase is known as Eternity and will only be attained after ten years.
TRON’s Consensus Protocol
There were 100 billion TRX distributed on the network, of which 40 percent went to investors of the ICO, 35 percent to the TRON Foundation and its ecosystems, 15 percent in private supply, and 10 percent to Peiwo, the first application on TRON.
TRON operates on a rather uncommon consensus mechanism, namely Proof-of-Replication, which is similar to the Proof-of-Storage consensus. The Proof-of-Replication mechanism provides space to the network, with users donating TRX to those who share the storage space with them. Each creation of space adds to the development of a block of the chain.
TRON plans to be efficient and flexible by enabling content to be kept in several places. If certain nodes leave the ecosystem, the content can be preserved before finding new nodes in order to enhance the storage space.
TRON: Advantages and Disadvantages
Some Advantages of TRON
First of all, the TRON network meets a real problem, namely the issue of the very high cost of intermediaries in the world of entertainment. It generates a fairer ecosystem by giving back content developers the rights to their creations.
Secondly, Justin Sun, the CEO and creator of TRON, is incredibly popular throughout Asia because he is an example of professional success among young people. Its Peiwo app, the Chinese alternative to Snapchat, is one of Asia’s most popular applications.
Moreover, TRON relies on a very solid team of expert developers, the community is incredibly enthusiastic, and international interest in the project is on the rise.
Some Disadvantages of TRON
The TRON project is only in its first phases, and it is important to stay cautious before predicting a meteoric success; however, while some might consider this a disadvantage, others might not be so. In addition, the TRX token is, as per some reports, overvalued in comparison to the progress of the TRON project.
Wrap Up
TRON is a very innovative project that looks incredibly promising. Still, some have certain reservations about the developer team, the native token, and so on, which is pretty normal.
However, the blockchain is dutifully following its roadmap. TRON even bought BitTorrent in June 2019, which was rather surprising for many, but the move actually makes sense considering its positioning in a peer-to-peer entertainment ecosystem.
TRON is expected to ‘save the Internet’ from centralization by creating a new model of content sharing.
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