- Tron platform and its coin are designed to host the entertainment industry and content generation systems on the blockchain. Their goal is to enable distribution of digital content without restrictions, with its creators being rewarded for their participation in the network.
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Developed under the slogan of “Decentralize the Web,” TRON uses the blockchain as the basis of its content sharing system. In addition to this, its peer-to-peer (P2P) network technology is supposed to bring it closer to achieving the goal of becoming a global operating system for unrestricted storing and uploading of data of all types. This includes audio and video content as well as in-game currencies. The Tron project was started in September 2017 by Chinese entrepreneur Justin Sun, founder of the TRON Foundation. The initial coin offering (ICO) for TRX took place in August and September 2017 during which it raised USD 70 million.
Tron aims to redefine the dominant practices in the content and the entertainment industry. The goal is to remove the middlemen from the content creation process and reduce its dependence on the network resources controlled by large corporations. Their goal is to have content creators paid directly by the audience they serve, without intermediaries such as content distribution platforms. At the same time, giants such as Facebook, Google and Amazon would no longer have a monopoly over the monetization of traffic and user data.
The platform’s native coin, the Tron coin or Tronix (TRX) can be used to share content on the network or as a compensation for the content creators who contribute to the network. In addition, the coin can be locked, allowing its users to acquire Tron Power (TP) which functions as the voting right on the network.
In addition to this, Tron should offer infrastructure for distributing digital content such as games or videos, with the artists and designers retaining full ownership over their creations. This should be followed by the support for the organization of personal ICOs. CryptoPuppies was one of the first projects to be developed with the help of Tron platform as a collectible game involving the purchasing of virtual dogs with Tron coins – similar to what Ethereum offers on its own platform with CryptoKitties.
TRX coins cannot be mined. The platform uses TPOS mechanism which was built as a modified Delegated Proof-of-Stake (DPoS) consensus mechanism in which the transaction sizes, block intervals and fee schedules are handled by the elected delegates.
In November 2018, the circulating supply of TRX coins amounted to 65 billion coins out of the total supply of 99,000,000,000 TRX. At the same time, the current market capitalization stands at just below USD 1.5 billion. Tron offers support for the dedicated wallets on its website which are available for iOS, Android, Windows and other platforms.