TRON (TRX) Research

TRON (TRX) Research Details

TRON (TRX) TRON

INTRODUCTION

Tron is a blockchain-based digital platform with its own cryptocurrency, built by Tron Foundation called Tronix or TRX. Tron is launched as the base for a decentralized entertainment ecosystem. Tron focuses on expanding the market for decentralized digital content applications by making them easier to create and use. TRON empowers Dapp developers to build and implement complex contracts with smart contracts that reside in its native blockchain.

In many ways, Tron matches Ethereum. In fact, TRX crypto was initially launched on the Ethereum network before moving to the private Tron network. TRX was originally an ERC-20-based token, supported by the Ethereum blockchain but in 2018 it split to become its own token with its blockchain.

In particular, the platform is capable of performing 2000 transactions per second. This functionality enables TRX to equalize with major payment processors such as PayPal. Best of all, TRON has no operating fees.


HISTORY AND FOUNDER

Tron was created by a man named Justin Sun, who has twice been honored by being included in the Forbes Asia “30-under-30,” a list of top businessmen under the age of30.

Sun worked for Ripple, the cryptocurrency maker of XRP, before launching the Tron Foundation in 2017. He successfully integrated Tron into Peiwo within a few months of its launch in 2017, which helped it grow its user base.


REASON TO BUILD THE PROJECT

Tron was founded with a clear purpose in mind: to help content creators reward more for their efforts. The way the media industry is structured right now is that a few big companies like YouTube, Facebook, and Apple have a tremendous intensity about visual content that is published on their sites. Not only do they control what can be seen, but they also receive a large portion of the revenue generated by the media. The creators however get a small portion of the revenue. A forum was set up to fix this.

By cutting the middle-media-man, as it were, it is able to allow viewers to directly reward content creators through the Tron network and use TRX tokens. So the media is owned entirely by the creator rather than part of a larger company.


BASE OF PROJECT

TRON network relies on Delegated-Proof-of-Stake (DPoS) consensus approach to blockchain protection. DPoS is similar to the proof of stake authentication because it allows users to earn revenue whenever they participate in a network wallet.

The network operates on a number of principles, the first being that all data in the network is free and not controlled by the central authority. Content creators are able to acquire digital assets, in this case, TRX tokens or other TRX-sponsored tokens, as a reward for their content.

As mentioned, it is possible for creators to create their own coins or tokens that can be used within their Dapps network. These created tokens are supported by the main Tron token.

The final stages of the network development program include network support. These will be completely separate and users will be able to reward creators directly if they enjoy the game with their digital assets.


USE CASE

The use cases of TRX token are:

·       TRX Money is used to enable programs running on the Tron network. One of the most sought-after uses of this type of technology is to create social media platforms that directly reward users for creating and editing content.

·       TRX is used for speculation purposes. Traders try to buy tokens at a lower cost, hoping to sell them later at a higher price in order to make a profit.

·       Performance is very fast, as the network can support up to 2000 transactions per second. Such purchasing power reflects a bright future and the network's ability to transform online media.

·       By creating a dApp network and providing content to it, you can receive digital assets as a refund. This could be in standard TRX tokens or in tokens created by TRX supported.


CURRENT RUNNING PROJECTS

Of all the current projects running on the Tron blockchain, some of them are:

JustSwap

Kraftly

Luminous

Wink

UnfitProtocol


MAJOR NEWS AND EVENTS

DATE

NEWS/EVENTS

IMPACT

30/03/2021

TRX officially jumps into the Deflation Era, becomes The World's First Deflationary cryptocurrency

+105% Increase

08/01/2018

CoinMarketCap removes South Korean exchanges from its platform

-45% Decrease

 


CONCLUSION

Tron was developed as a direct challenge to the media industry, including web-based giants like Amazon and Netflix. Its motto is "Decentralize the Web" and its purpose is to exclude the person in the business from the media system.

Distribution of created content and the use of tracking is a painful point in the creative industry. Photos, videos, words, and music are constantly stolen and reused. The music industry is known for being more modest than the illegal drug industry, and people are willing to commit murder and death for fame and fortune.

Whether Tron kills or is killed remains to be seen, but it is a cryptocurrency you should look forward to, as it seems to be disrupting the current content ecosystem.


DISCLAIMER

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto products are currently unregulated and subject to market risk. Please seek independent financial advice or do your own research before investing.