The definition and history of Tron
It is a blockchain network which was launched as the base for an entertainment system which is decentralized. It was developed by a controversial figure, Justin Sun in the year 2017 in Singapore. It was created with an aim to expand the market of the decentralized digital currency by making them easier to develop and deploy as well. The Tronix TRX is a prominent cryptocurrency token of the Tron blockchain and the Tron network was launched in June 2018. The Tron is developed to reduce the difficulty which the developers face while learning to create from the scratch on completely new protocols. It can also be used to increase the decentralization of the existing cryptocurrencies platform and the development of new apps.
How can Tron be used?
The Tron will be used in a similar way to the other content networks. The developers will produce the content and the customers will purchase it. It can also be used to build other applications and the same resources can be leveraged. It is one of the most popular and latest cryptocurrencies in the market. However, it is quite different from the typical cryptocurrencies in the market. The foundation responsible for developing the Tron cryptocurrency hopes to accommodate it with the entertainment industry. The sharing of content will be as usually performed through the blockchain platform. Below is the list of the non-conventional uses of the Tron cryptocurrency:
- It can be used to reduce or completely eliminate the middlemen which are responsible for connecting the users to the creators.
- The developers of the mobile applications and other digital content can directly receive revenue from their consumers and users.
- Other than eliminating the middlemen between the users and the creators, Tron can also be used to reduce the traffic dependency on the social networking websites. It can be done by streamlining the traffic back to the developers which also helps to eliminate the need for more views and likes on the middlemen websites.
The benefits of Tron
There are various benefits of the Tron over other cryptocurrencies because the developers of iron have aimed to create more than just a cryptocurrency which operates on the blockchain network.
- The Tron allows the spread and transfer of data without any restrictions or limits. The users are also allowed to share digital content such as photos, videos, and audios through the channels which are content enabled. The user earns a digital asset every time they upload digital content and hence the ecology of content evolves.
- The user can receive a fixed amount of profit which is directly proportional to their contribution. The biggest which makes Tron stand out among other cryptocurrencies is that it focuses more on the people rather than the organizations.
- The digital footprint can be kept intact by the users with the help of the Tron. This helps to reduce the number of ads on the websites which they are browsing.
- The transaction system itself has a great advantage. The tronix transactions can be easily traced without any hurdle because the tronix transactions are recorded on a public ledger.
The disadvantages of Tron
Since the Tron is new in the cryptocurrency in the market, it would be too early to comment on the drawbacks of the Tron. It can, however, be said that the Tron still has to prove its true potential. Unlike the other cryptocurrencies the mining process is not possible with the Tron and hence the token coin of Tron, the TRX cannot be mined. And the Tron offers a huge amount of coins which can be clearly a drawback for a new cryptocurrency.
The development of Tron
The base of the Tron cryptocurrency consists of sound employees. The Tron is able to support various currencies but the tronix or the TRX coin remains the official currency of the Tron and every other cryptocurrency must be converted in order to be processed. The user initially needs to set up a Tron wallet and ensure that the wallet which has been selected by the user supports the TRX coins. Tron now supports wallets on different websites. The Tron coins cannot be bought by directly using the fiat money. It can, however, be exchanged for Ethereum and bitcoin. The user, therefore, needs to have an existing investment in either Ethereum or bitcoin to buy the Tron first. The TRX is supported by major currency exchanges.
The price and the future of TRX
With the TRX standing at a value of 0.058 US dollars in June 2018, the entire market is anticipating whether the value of TRX will reach 1 US dollars before the year comes to an end. It is, however, difficult to comment on the ever-changing nature of the cryptocurrencies. It is very likely that the TRX will succeed in the market because it has been created with a different set of objectives as compared to the other cryptocurrencies available in the market. The TRX coins have gained great success in the Asian markets and it is expected to perform even better in the future.
Short Summary
Tron: everything you need to know
Introduction of Tron
It is a blockchain network which was launched as the base for an entertainment system. It was developed by a controversial figure, Justin Sun in the year 2017 in Singapore with an aim to expand the market of the decentralized digital currency. The Tronix TRX is prominent cryptocurrency token of the Tron blockchain and the Tron network was launched in June 2018.
The Tron will be used in a similar way to the other content networks. It can also be used to build other applications. However, it is quite different from the typical cryptocurrencies in the market. The Tron allows the spread and transfer of data without any restrictions. The users are also allowed to share digital content such as photos, videos, and audios through the channels which are content enabled. The user earns a digital asset every time they upload digital content and hence the ecology of content evolves.
Since the Tron is new in the cryptocurrency in the market, it would be too early to comment on the drawbacks of the Tron. Unlike the other cryptocurrencies the mining process is not possible with the Tron and hence the token coin of Tron, the TRX cannot be mined. And the Tron offers a huge amount of coins which can be clearly a drawback for a new cryptocurrency.
With the TRX standing at a value of 0.058 US dollars in June 2018, the entire market is anticipating whether the value of TRX will reach 1 US dollars before the year comes to an end. It is, however, difficult to comment on the ever-changing nature of the cryptocurrencies. It is very likely that the TRX will succeed in the market because it has been created with a different set of objectives as compared to the other cryptocurrencies available in the market. The TRX coins have gained great success in the Asian markets and it is expected to perform even better in the future.