TRON (TRX) is a blockchain-based, decentralized protocol developed in China. TRON wants to build a free content entertainment system and a distributed storage system for users in all over the world.
Like many other cryptocurrencies, TRON wants to provide a protocol that allows any user to freely publish, store and own data. All this without the need for a centralized service having data sovereignty over the user data. In this new system, the Web 4.0, every user should be able to decide which data he publicly releases.
The idea behind TRON
Since the invention of the World Wide Web by Tim Berners Lee in the early 90’s, a lot has changed on the internet. Designed as a fully decentralized platform, where everyone should be able to publish content and websites, and interact with others.
However, the power structure of the Internet has changed significantly. Large coporations control the Internet of today. These are companies like Amazon, Facebook, Google, Apple, Alibaba or Tencent. They took over data sovereignty in today’s Web 2.0. These companies manage all user data in huge data centers.
TRON wants to solve this serious problem by providing a worldwide, free content entertainment system on the blockchain, where every user can control their own data.
In addition to the data sovereignty problem, TRON wants to solve yet another problem. TRON wants to create a new kind of economic system. Publishers and consumers can communicate with each other, without any associated fees unlike Amazon or the PlayStore.
The TRON network is a platform for digital entertainment of all kinds. From streaming services to online gambling to social networks. Unlike Ethereum, which aims to become the backbone of the Internet for the future, TRON is more focused on tomorrow’s Internet entertainment.
Why to use TRON?
According to the company website, TRON offers the following advantages in comparison to the current system:
- Users get back basic ownership of their data and the Internet.
- Those contributing to the TRON ecosystem are eligible for a reward, paid in TRX
- As a non-profit foundation, the TRON network aims to provide a service to the public, without any primary profit making intentions.
TRON’s own token is Tronix (TRX). The token forms the basis for the platform. TRX makes it possible to distribute credits within the TRON network, and storing information that can be retrieved from all TRON apps. According to the white paper, the TRON network should support numerous other cryptocurrencies.
Justin Sun and Peiwo
The founder and CEO of TRON, Justin Sun, is a celebrity in the tech world, especially in China. In 2013, he served as Ripple’s Chief Representative in Greater China. He received numerous accolades from Forbes magazine and is being seen as the next Jack Ma. He received an invitation from Jack Ma (the first student ever) to study at Ma’s Hupan Elite University. Sun is also the founder of the app Peiwo, often referred to as the Chinese Snapchat.
TRON is currently in the Top 20 of the biggest cryptocurrencies in the world, with the price being subject to the same fluctuations as other cryptocurrencies. TRON is currently traded on several exchanges HitBTC, Binance, Houbi, OKEx and others. You can find a guide on how to by TRX here.