What exactly is TRON?
Tron is a blockchain-based, decentralized protocol project that aims to be a content distribution platform for the digital entertainment industry. As of April 2018, the public chain test network is online; the main network is not yet live. It was founded by the Tron Foundation.
This foundation was established in September 2017 by the CEO Justin Sun. The TRON landing page describes the aim of the protocol as the construction of a global and free entertainment content ecosystem, in which creators have the power to freely publish, store, and own their content, interacting directly with consumers thanks to the decentralized issuance, circulation, and trading of the digital assets.
What are TRON tokens?
TRON involves 3 different types of tokens, these are- TRON Power, TRONIX and TRON 20 Token. These are explained as below –
TRON Power Token:
- It is also known as TP.
- It’s basically a locked up TRONIX (explained later).
- With this, the users are able to volunteer in order to lock up their TRONIX and this way they tend to receive TRON power as a result.
- They also get the voting rights as well as the other particular privileges which are necessary in a TRON eco-system.
- It is non tradable.
- It is indeed a long term commitment.
- It is almost similar to the Steem Power which is used by the Steem platform.
- It is also known as TRX.
- The token which is normally used for any purchase or trade on a particular exchange, is nothing but the TRX.
- The TRON platform is accessible due to this TRX token.
- Another feature of TRX, is that it could be used for buying or selling of the content upon it.
TRON 20 Token:
- If a person requires to create or even issue his own token, then he needs TRON20 Token.
- It allows the content creators in issuing or creating the tokens.
- It is much like the Waves or the NEM.
TRON platform, the creation of content process is done by the content creators
who would list their particular content on the platform. This would make the
content available for the purchase.
The content could be films, music, images, etc. Here the TRX tokens are used to complete that particular transaction. TRON makes sure to not charge any amount of fees for the process.
TRON would also be able to offer some incentives to the creators in order to encourage these creators for placing their particular content on the TRON platform itself. This as a result helps in the simulation of the entire TRON eco-system.
Other crypto platforms will also be able to host on the TRON platform while offering their own tokens here. Also, the users would be able to transfer the tokens into any other platform by using TRX as the bridge currency.
TRON’s Solution for few Problems related to the Real Market –
- Problem No. 1: Centralisation and
Due to the intervention of the government in many countries like China, these countries’ users are not able to access few the websites. Thus, this leads to censorship as well as centralisation.
TRON has given a solution by providing a decentralised project network which is also a means to restrict the censorship on these countries.
- Problem No. 2: High Fees on
Media platforms such as Google Play or the App Store tend to charge huge amounts of fees terming them as commission fee. This makes the content creators to withdraw from the thought of even creating a content.
TRON, as mentioned earlier, has given the entire control to the content creators itself. And this control is given without even costing them much. They surely don’t keep any separate charge known as commission rate.
What are the speculations related to the TRON Prices?
One of the main concerns for the people who want to invest on the cryptocurrencies should be the price rates. But that is not the case, since many tend to overlook this aspect completely. They also fail to investigate if the platform such as this one, has the tokens linked to it completely or not.
If the tokens are not represented by the platform (not linked), then it is equal to a scam as the prices would definitely fall eventually.
In the following post, we will elaborate on the prices related to this cryptocurrency as well as few controversies related to the currency. Hence, we would be able to conclude on the review with respect to this cryptocurrency.