What is TRON (TRX) Crypto Beginner’s Guide
In the world of content sharing and the many platforms that cater to content creators, there is always room to grow. While PirateBay, Torrents, and other content sharing platforms are prosecuted for piracy or randomly removed, other middlemen organizations such as Netflix and Amazon feed off of the public’s need for entertainment and other forms of content sharing/viewing.
While this might not seem bad at first, companies such as Netflix have been known to raise fees, cut down on the number of movies that are watchable and place other limitations on subscription holders. Sure there are many websites that offer free content sharing opportunities but they each come at the cost of being bombarded with advertisements and ad block bans.
Beyond the entertainment industry middlemen, there is also the other types of content sharing platforms such as Youtube, Twitch, and the Cloud. Each of these platforms often come with their own set of rules and regulations that can leave many users feeling irritated.
Youtube and its biased demonetization and need for Gmail account for certain videos, Twitch and its list of rules for uploads and types of content, and the Cloud has its own limitations and subscription plans. No matter where you go, there is always someone trying to take their share from the many content creators and consumers.
So what can people do in the new digital age? Content will always be available to those who are willing to pay, but what about the ones who want to enjoy things without the excessive fees and limitations? Is there a way to share content of all kinds without the limitation and penalties? Is there a way to finally give back the control of buying and selling of content to their creators?
TRON: Decentralizing the Sharing of Global Entertainment Content One Altcoin at a Time
Like many other cryptocurrencies that dabble in the content sharing business, TRON is a global digital content sharing and storage platform. It maintains a decentralized blockchain network that allows users to finally avoid the middlemen businesses. Users would be able to enjoy the cost-effective sharing and viewing of any digital content that is distributed on the TRON platform.
The platforms major goals is to provide a free space for content to be shared and consumed without the limitations of companies like Twitch, Youtube, Google, Facebook, Snapchat, Amazon, Hulu, Netflix and so on. By taking on this goal, TRON intends to combat the few corporations who control most, if not all, of the internet and its content. By taking out the middleman and giving back the freedom of the internet, TRON levels the playing field.
TRON is almost like a cryptocurrency version of net neutrality just without the hardship of government regulations, big corporation corruption, and government interference.
How Does TRON (TRX) Work?
The entire content exchange platform operates on a blockchain network and uses peer to peer (P2P) technology. To pay for content users use the Tronix tokens. The platform is split into three layers: a core layer, a storage layer, and an application layer. As a whole TRON uses a delegated proof of stake consensus system. This means all stakeholders can vote on the nodes and elect witnesses.
Witnesses are people who are rewarded with the validation process of blocks on the TRON blockchain.
The core layer contains several modules that operate the main parts of the platform. This is where you would see smart contracts, account consensus and management, and TRON’s virtual machine. It uses currently the Java coding but will soon include Python and C++.
The storage layer is where you would find TRON’s storage protocols. These protocols include the block and state storage and use a type of graph database. This type of database is how TRON is able to process everything quickly and enact updates whenever necessary.
The application layer is where the developers make certain additions such as dApps, customization of Tronix tokens, and this is also the layer that is responsible for issuing Tronix tokens to all investors.
Key features of TRON
Besides the inner-workings of TRON, the developers had a few major features in mind when they constructed the entire decentralized platform. Those particular features are:
1.) Enabling a content ecosystem that allows users to obtain digital assets from content spreading on the platform.
2.) Liberation of data making it all free and uncontrolled.
3.) Comes with a personal ICO (initial coin offering) that has the ability to distribute digital assets on the platform.
4.) TRON has an infrastructure that allows distributed assets to be exchanged (such as games, movies, literature, and other content) as well as market forecasting.
What is Tronix?
This is the official token for all transactions on the TRON platform. It is bought via cryptocurrency exchanges and can be used to enjoy all of the services offered on the TRON platform. On top of the main tokens, users will get the opportunity for custom tokens as well and will operate in a similar fashion as Waves.
As the developer team begins to make other additions such as dApps, another token will then be developed as a medium of exchange. This token will be referred to as TRON20 tokens and will function on the TRON protocol the same way Tronix does.
How to buy TRX (Tronix)
Currently, Tronix is an ERC20 token (Ethereum based) and will later migrate over to the TRON blockchain once the mainnet is up and running. Tronix can be bought on Liqui and Binance. You can exchange Ether and/or Bitcoin for Tronix. Currently, there is no way to purchase Tronix with fiat currency.
Where to store TRX
Users who purchase Tronix can store their tokens on any wallet that supports Ethereum. MyEtherWallet is one such option. You can also use hardware wallets such as Trezor or Ledger Nano S.
The Future Phases of TRON as a Platform and Cryptocurrency
TRON is currently working phases of development. Each phase has a basic goal that will build onto the TRON platform and add more services as time goes on. The phases of TRON’s development will span from 2018 to 2023. The phases of TRON are as follows:
The Exodus (phase one)
This is the primary phase in which TRON will introduce the basic functions of the platform. This is where you will see the free peer to peer distribution, content, and storage services. The main goal is to provide a simple distributed file sharing that is built on top of a peer to peer hypermedia protocol.
Odessy (phase two)
This is the phase that will showcase the economic aspects of the TRON platform. It will introduce economic incentives to users so as to encourage content creation and empowerment of the user. This phase will follow with the intended proof of stake earning scheme.
This phase will include a reimbursement for creation metric with something akin to tipping. This scheme is intended to prevent the click bots and other potential cheating that is often associated with views. All earning will be given in Tronix to either the users’ wallet of choice or a TRX account.
Great Voyage (phase three)
This phase is where users will be able to customize their own tokens and hold personalized ICO capabilities. This will follow a blockchain system that is similar in essence to Ethereum. It will have a Turing complete system along with smart contracts.
Apollo (phase four)
This is the continuation of the third phase and will allow users to issue their own personal tokens.
Star Trek (phase five)
This phase of the TRON platform intends to introduce a decentralized gaming and forecasting platform. This is intended to help decentralize the gaming industry and allow developers to gain profit from established games.
Eternity (final phase)
The final phase of TRON intends to continue phase five’s decentralization of the gaming and forecast industry. On top of this venture, TRON will also make additions for monetization and fundraising that is based on the growth of the community.
TRON’s core will be based on a hybrid between peer to peer hypermedia and Ethereum-based blockchain networks. The rest of TRON’s goal will be fulfilled with other additional projects and partnerships such as Gifto, Game.com, Peiwo, and oBike.
What are the Drawbacks of Using TRON?
The only real drawback of using the TRON platform lies within its ability to deliver on all of its promises. Like many other content-oriented cryptocurrencies it is fairly common for developer teams to promise the world and only produce less than half of what they really intended. Another issue that TRON may face is with its white paper and issues with later phases.
Final Thoughts on TRON (TRX)
TRON is one of the few projects that intend to even the odds for internet users and people who enjoy entertainment. Many major corporations have tried their hand as monopolizing content which leaves many people burdened with fees, subscriptions, regulations, and other rules.
TRON gives users a chance at real net neutrality/content sharing platform without government interference and other issues. Only time will tell if TRON can really deliver the freedom it hopes to provide.