TRON is a blockchain-based operating system and decentralized application (dapp) platform. Founded by a non-profit Singapore-based foundation, the Tron Foundation, the project team initially sought to tackle the global entertainment industry – currently valued at $1 trillion. However, they’ve expanded their vision greatly, tackling the entire dapps market.
According to its initial whitepaper, “TRON’s team members are followers of Sir Tim Berners-Lee, who are convinced that protocol, from the moment of its invention, is an asset for human beings, rather than a profit-making tool for small groups.” Tim Berners-Lee is the founder of the World Wide Web.
TRON’s open, decentralized platform and distributed storage technology allows creators of digital content to cut out middlemen such as the Apple Store and Google Play Store. Content producers are thus able to obtain funds directly from consumers.
Currently, a lot of user data and traffic is controlled by a few corporations like Google, Facebook, and Amazon. TRON attempts to mitigate this control by placing ownership of the data back into the creator’s hands.
TRX Crypto Market Performance
The peak price of TRX so far was $0.254791 on January 4, 2018. TRX began as an ERC-20 token on the Ethereum mainnet, but when the Tron mainnet launched in June 2018, the ERC-20 tokens were migrated to the native TRX coin at a 1:1 ratio.
Tronix is used by consumers to pay for content, leaving content creators with a stake in its value. As of November 12, 2018, the circulating supply of Tronix is 65,748,111,645 TRX out of a total supply of 99,000,000,000.
The Tron Foundation ran the Tron ICO token sale from August 31- September 2, 2017. Forty percent of the total token supply (approximately 40 billion) was sold, raising approximately $70 million worth of ETH and BTC. The remaining supply was withheld by the team for future distributions and to fund further project development and marketing efforts.
Over $58 million worth of TRX is traded on a daily basis, making it one of the most traded cryptocurrencies on the market. Cryptocurrency exchanges that accept TRX include BitForex, OKEx, Binance, Huobi, Bit-Z, IDAX, DigiFinex, and Systemkoin. TRX trading pairs include ETH, BTC, and USDT.
Tron wallets are community-developed and available for every OS, including desktop, web, and mobile. TRX is also supported by third-party cryptocurrency wallets like Trust Wallet, Ledger Wallet, and Freewallet.
Creating a New Media Ecosystem via P2P
Tron TRX is one of many efforts seeking to leverage the peer-to-peer nature of modern networks in order to allow content creators and distributors direct access to their consumers. YouTube, iTunes, and other centralized distribution networks have a significant choke hold on the digital content market, creating a barrier for independent content producers seeking distribution channels.
Various decentralized applications are planned for deployment on Tron to take advantage of the direct, peer-to-peer architecture of the network that eliminates the need for a middleman. One such application that has received a lot of attention is Gifto, created by Uplive, a highly influential and successful paid social media platform in Asia.
Both streaming entertainment and content delivery are massive industries. The content delivery network market alone is predicted to reach $30 billion by 2022, while the entertainment industry as a whole will exceed $2 trillion in the same period.
Most major shifts in Internet technologies have to do with either the delivery of content or the payment. The first iteration of the web was poor at facilitating value transactions.. With Web 2.0, we saw the introduction of secure payment channels and an advertising economy was born, which made use of personal data to sell more products.