WHAT IS TRON (TRX)?

A blockchain offshoot, Tron is a decentralized platform with a twist in the entertainment industry. It has its own cryptocurrency, called Tronix. Its main design model is to make the distribution of multimedia apps and specialized content easier for crypto users and developers. Tron brings to the crypto market another fascinating dimension. It is intended for use in gaming and gambling with the aim of creating and increasing legal casino gambling games based on blockchain.

That’s an interesting set of concepts, making Tron a four-in-one blockchain platform:

  • Decentralized internet technology.
  • A digital content marketplace for developers and end-users.
  • A mobile app marketplace.
  • A cryptocurrency with serious potential even if it’s operating in uncharted territory.

The Beijing-based cryptocurrency platform was developed by the Tron Foundation in 2017 and founded by Justin Sun. He is a Chinese business owner who already made a name for himself as the brains behind PEIWO. A Pacific Rim-based live streaming smart device app. Sun has been dabbling in the field of cryptocurrencies. He was a Ripple executive back in 2016, a popular cryptocurrency founded on a blockchain.

Source : CoinMarketCap
Source : CoinMarketCap

Eliminate the Middle Man

Tron is trying to bridge the gap between content creators and content users by removing the middleman. Using the technologies of the blockchain and peer-to-peer (P2P) network technology. The consequence is an overall cost saving for the users. To the increased collection through the product producer’s direct receipts, which provides a win-win scenario.

To draw an analogy with a real-world application, consider Netflix, which operates a digital entertainment service offering on-demand content. A single organization controls the services in a centralized manner. One may need to subscribe and pay Netflix to watch a particular on-demand movie. That may have been produced by a group of budding enthusiasts who are hosting it on the Netflix platform. From the fee charged to the subscriber, Netflix takes a cut for hosting the movie on its platform and pays the remainder to producers. Often, the lion’s share is taken by the middleman.

Tron replicates this business model on a public blockchain network. It acts as a distributed, decentralized storage facility that makes it more efficient and cost-effective. It aims to eliminate the middleman, like Netflix in the above. Example by allowing anyone and everyone to host digital entertainment content on its blockchain-based network. The global audience can directly pay the content creators to access the content.

In the process, Tron’s open, decentralized platform and distributed storage technology. It also attempts to address a significant issue-the challenge of very few, and powerful Internet-controlled corporations. And their content-making it a level playing field.

How Tron (TRX) Works

When Tron Foundation and Justin Sun came up with Tron’s concept. The operational idea was a fairly simple one to eliminate the middleman traditionally standing between users and developers of cryptocurrency. Also filling the void with Tron. That would have a domino effect that would position Tron to exploit the sweet spot that other technology giants. Such as Amazon (AMZN – Get Report) and Netflix (NFLX – Get Report) have monopolized.

By removing the brokers that acted as intermediaries between customers and content producers. Tron was able to significantly curb the cost of buying gaming and entertainment content. At the same time giving content producers a straight shot at their most desirable target young technology-loving gaming and entertainment buyers. Tron was officially launched in 2018 with Tronix used by users and software creators on the blockchain.

How To Buy Tron (TRX)

With Tron, Sun and the Tron foundation upended the middleman model by streamlining entertainment and gaming applications and content. Basically allowing anyone to sell decentralized industry products on the Tron site with no distributors or intermediaries operating as highly paid intermediaries.

End-users and content developers can now interact directly on the blockchain network with each other through Tron. In short, all consumers need to do. For example, to download a game or a gambling app is to contact and pay directly to the developer. It’s easy to do as Tron allows anyone to create their blockchain network content and list it.

The method of payment is simple enough. Let’s assume that a music creator is putting a new song on the Tron network by a new artist. For 40 seconds or so, the platform allows content creators to create a small teaser for the album. If the customer liked the song, they can purchase the song directly from the Tron network content creator.

Tron’s future iterations will enable content creators to issue new coins and tokens. As developers do on digital cryptocurrency platforms such as Ethereum. Tron’s own cryptocurrency, Tronix, is available for purchase on cryptocurrency exchanges such as Binance and Liqui. With the most common form of payment being Bitcoin (BTC) and Ethereum (ETH).

Source: investopedia.com thestreet.com

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