TRON has been gaining popularity among the thousands of cryptocurrencies available today, such as Bitcoins, Ethereums, Litecoins and many others. TRON is a blockchain protocol that was designed specifically for the global digital entertainment market. The platform is a decentralized network that uses a peer-to-peer technology and blockchain to share various entertainment content.
TRON protocol allows users to store, publish and control their data. Users can choose how they want to share data by using an autonomous, decentralized form. By releasing digital assets and spreading them, the same form allows subscriptions as well as push content.
The first time this cryptocurrency appeared on the market was as an Initial Coin Offering (ICO), which took place in Singapore, on 9 September 2017.
The TRON Blockchain platform is characterized by the following:
- Scalability : The TRON Blockchain can be expanded through side chains, meaning that audio, video and legally-binding contracts can also be stored on the blockchain.
- Decentralization : All nodes are equal in rights and obligations without an agency. If a node stops working, it will not have any impact on the operation of the entire system.
- Environment without Trust: Any node in the system is able to be traded. The nodes can’t deceive one another because the system and database are open and transparent.
- Consistency : Data information is consistent between the nodes.
- Fault tolerant : the system can tolerate a 1/3 Byzantine node failure.
- Account Scalability Model: UTXO model + account Abstraction
Peiwo will be the first to become compatible with TRON in 2018. TRON will surpass BTC and Ethereum as the first blockchain smart contract protocol with a wallet and users exceeding ten millions, compared to all other virtual currency protocols. Peiwo APP, the world’s largest audio streaming mobile application with more than 10 million registered users, is one of the most popular applications. Its monthly active user count has surpassed 1 million, and its cumulative call duration exceeds 2 billion minutes.
Check out the current price of Tron and price predictions for 2019 and 2020.
Team behind TRON
Justin Sun is the CEO and founder of TRON. He was a protégé of Jack Ma. Sun has an impressive list of accomplishments for a 27-year-old. Sun graduated from University of Pennsylvania. He was named 2015 Forbes China’s 30 Under 30 and 2017 Forbes Asia 30 Under 30. He was the former Ripple China chief representative, founder of Peiwo APP and a student of Hupan University.
The team behind TRON is made up of many key members, including the CEO Sun. Lucien Chen, CTO, is an ex-employee of Alibaba who has worked with top internet companies like Netease, Qihoo 360 and Tencent.
Maorong Lin, Xiadong Xie and other top Chinese developers have joined the TRON Team. The two TRON employees have years of experience working in both the entertainment and online commerce industries.
TRON has been backed by prominent members of China’s business community, including Hitters Xu and Tang Binsen. Xue Manzi is a famous Chinese angel investor. Chaoyong Wang founded China Equity Group (with a $2 billion valuation), Dai Wei was the CEO of OFO Bike. Huobi.com also backed TRON.
TRON has begun the transfer of TRX to the Peiwo App. The 10 million TRON users will be able to trade the tokens back and forth.
TRON supports many different digital currencies but TRX is the only official currency. All other currencies must be converted to TRX.
TRON Framework
TRON, as a team of Tim Berners Lee’s followers, believes the Internet is a tool that belongs to everyone, not just a few. TRON created the Tron Foundation, a non-profit organization in Singapore with the mission to run the TRON Network publicly and transparently without profit motives.
The Foundation is managed independently by an independent board of directors or management committee. It is not under the control of any government. The Foundation has no commercial interest to participate or support public or private interests activities. The Foundation’s “profits” are a surplus that will not be distributed to its members, but used for the Foundation’s other projects.
What is the difference between TRON protocol and Centralized Protocols?
TRON, as a protocol for decentralized content, differs significantly from centralized protocols. TRON is a protocol that allows users to upload, store and share video, images, sounds, and characters without restrictions. TRON also supports content enablement, which means that users can get digital assets through providing and spreading content.
TRON’s personal approach towards an Initial Coin Offer (ICO) allows an individual to contribute without restriction. TRON’s infrastructure allows for the exchange of digital assets (such as video games) and forecasting.
The Core Values Of TRON
TRON must always adhere to certain core values in order to achieve the goals of its creators. TRON is based on the idea of Berners-Lee, that the internet should be decentralized and free.
TRON is based on the core belief that users who contribute ecologically are entitled to receive a profit of proportional value. To ensure fairness, contributions of all types have the exact same time and value. TRON focuses on people, not money. Therefore the content must align with the target. It will be the goal to continue to provide quality art and content for other people to appreciate and enjoy.
TRON also aims to serve the public for a long time. TRON, unlike other blockchain protocols, isn’t about making money. TRON’s purpose is to offer entertainment through content viewing. All those involved in the project will gain from its success, and this should provide more than enough benefit without needing to earn money.
TRONIX
TRON’s official money is TRONIX. TRONIX, the TRON blockchain’s basic account unit is TRONIX. All other tokens are derived by the value TRON.
TRON Power is a TRON that has been locked. TRONIX can be locked to acquire TP. TP is TRONIX that has a voting right.
TRON Tokens – By purchasing these tokens, content owners can benefit from the services and benefits that come with the growth in data.
Buy TRON TRX
You will need to purchase another digital currency, such as Bitcoin or Ethereum. The most convenient method is to purchase it through Coinbase via bank wire transfer, debit card or credit card. You can then buy TRX on an exchange such as Binance.
Register for Coinbase
It is highly recommended to make your initial purchase via Coinbase if you’re a newbie in the world of digital currencies. Coinbase has a very user-friendly online platform that is fully regulated by the US Government. This makes it the safest and most convenient way to purchase cryptocurrency. Coinbase is one of the most popular ways to purchase and sell Bitcoins, Ethereums, and Litecoins. Your purchase can be made by bank transfer or debit/credit card. The cards have a higher cost, but currency transfers are instant.
You will be required to verify your identity during the registration procedure as Coinbase adheres to all laws and regulations applicable in every jurisdiction where it operates. Sign up using this link and receive $10 free Bitcoin for your first $100 purchase.
Clicking on the provided link will bring you to an online registration form, where you’ll be asked to provide your name, email address, and select a password.
Buy Ethereum
We will use Ethereum to buy TRX tokens for the purposes of this guide. Ethereum has lower sending fees than Bitcoin. Ethereum transactions are also much quicker. Select Ethereum by entering the Coinbase platform, hovering over “Buy/Sell” and selecting it. Select your preferred payment option and then enter the desired amount. Enter either a fiat amount in currency or coins.
You will then be asked to confirm the transaction. If you pay with a credit card, the card issuer may ask for additional verification before completing your transaction. Your balance will update with the Ethereum purchased after the transaction has been completed.
Buy TRX on Binance
You can transfer Ether from Binance to buy TRX.
Create a Binance account
You will need to first open an account with Binance. You can find a simple registration form by clicking here. In this form, you’ll need to enter your email and password. You will receive an email asking to confirm your registration.
Sign in to your account
After your account is activated, the next step will be to log in to it. Click the Login button by moving your mouse over it.
Enter your password and email address to login.
Create your Binance Account
Binance’s account page opens after you log in. To improve the security of your account, you should enable two-factor authentication (2FA) when trading at any exchange. Google Authenticator is the best app to use, since SMS 2FA can fail in more ways than one. Google Authenticator is available for free on Google Play Store.
The withdrawal limit will initially be 2 BTC per 24 hours. Binance Identity Authentication can be completed to alter these withdrawal limits.
Depositing cryprocurrency on Binance
You can deposit a large number of crypto-currencies to Binance. In this article I’ll be using Ethereum as a deposit.
Click deposit to send funds and any crypto currency of your choice.
How to buy TRX using Ethereum
It’s time to trade TRX. Click the “Exchange” button to trade your cryptocurrency deposit for TRX. Binance charges a fee of 0,1% for every trade. Your TRX balance shows the total amount purchased after your purchase is complete.
The TRON Roadmap
Six phases are outlined in the Road Map. The Road Map is divided into six phases. Each has its own period and name.
- Exodus (August 2017 – December 2018). TRON’s first phase allows for users to store, upload and distribute their content. TRON’s distributed storage platform will allow users to publish, store and share data for free.
- Odyssey January 2019 to June 2020 – The second phase focuses TRON on economic incentives and empowerment. Content ecology, blockchain and content eco-system will be a part of the mechanism that results in an economic system with a fair reward for content produced, shared and distributed. The scale of compensation for content creation in this phase is tied to a metric that follows a tipping system instead of views and clicks. To ensure authenticity, the click-or-view system was eliminated. If there’s a click-farm or an automated system involved, it is possible to produce clicks in bulk.
- Great Voyage July 2020-July 2021 – In this phase, TRON resolves three main issues: Income measurement, dividend payments and management of fans. It also manages to change this cryptocurrency’s “fan economy” into “fan finance”. In order to achieve these objectives, TRON will create a customized blockchain platform in the current phase.
- Apollo August 2021-March 2023): In this phase TRON can launch their own tokens, which users will then be able use for decentralized trading. The economic vitality will be significantly increased by decentralized trade. The free flow of value allows each TRON creator to make their own tokens.
- Star Trek April 2023-September 2025 – The TRON Content Platform allows for the creation of an online gaming platform that is decentralized. TRON allows developers to build their own online gaming platforms, which are fully autonomous and can predict market functions. .
- Eternity(September 2025-September 2027)-Developers can set up free game platforms via TRON. They will also be able to crowdfund game development.
Last Thoughts
TRON is designed to assist those who are looking for a protocol that can be used to provide online entertainment. TRON has some flaws, such as its long-term nature. The developers will be able to complete the project correctly on the first attempt and release it with less issues if the time frame is specified. The TRON team is supported by a number of powerful members from the Chinese business world. TRON has also a powerful development team that supports these efforts.
