Tron (TRX) is a controversial blockchain platform that isn’t shy to be a part of the headlines nearly every month. Wether that is a positive head line or a negative one that’s for the readers to decide.
Tron is a blockchain platform that was launched as the foundation for a decentralized entertainment industry. Created by Justin Sun, Tron focuses on expanding the decentralized application market by making it easier for people to create and deploy these applications.
The mainnet launched in June 2018 and the Tronix TRX is the main cryptocurrency token of the Tron blockchain. Tron will work in the traditional way that other content networks work: Creators produce content and consumers purchase it. Other application can be deployed on Tron blockchain an can leverage the same resources, Some amount of TRX will be chared from the users upon execution of the code within the Tron network.
Tron Has Big Backing
Founder Justin Sun was previously the official representative of Ripple in China. His first venture was Peiwo — a pay-to-chat application already launched on the network and his status has attracted the support of several high profile backers.
To start with, we have Jihan Wu, the Co-founder of BITMAIN, who has been very keen to buy Tron. While Wu’s antics may occasionally cause his company PR issues, overall his endorsement of Tron seems to have done no harm, with the project raising $70,000,000.
Wu is not the only big name backing Tron. One of the world’s most successful transportation executives, Dai Wei, founder of Ofo, has invested in Tron TRX. Moreover, BTCC founder Yang Linke and business mogul Yin Mingshan are also backing the project.
A total of $70 million was brought in for a token supply of 100 billion. For the first few months of trading, Tron TRX struggled to break the 1 penny mark, but eventually went on to see all-time highs over $0.20. Price prediction for the Tron cryptocurrency has been a popular topic on Reddit, with many claims that the size of the market could indicate a long-term price goal in excess of $0.50 – and a market cap of close to $50 billion. cryptocurrency token, on the crypto market.
Tron has not been without its drama (in fact, some would say the company thrives on it). Still, it built a content distribution platform that promises to remove the middlemen and connect content creators directly with consumers. Its ability to withstand the onslaught of push back from Hollywood, the RIAA, and other middlemen with vested interests will depend on these key factors:
- TRX isn’t mined – instead it’s earned by creating and promoting stellar content. Tron partnered with BitTorrent to solidify its P2P content distribution model further. Tron’s code and whitepaper are said to have been piecemeal ed together. Great artists steal, and this appears to be infused in the culture of the Tron Foundation. The Tron Foundation isn’t alone, and several key partnerships from investors to developers joined hands with Tron in its creation of a new media landscape for the future.
- Distributing created content and tracking usage of it is a major pain point in the creative industry. Photos, videos, words, and music are constantly stolen and re appropriated. The music industry is known to be more cutthroat than the illegal drug industry, and people are willing to kill and die for a taste of fame and fortune.
Whether Tron kills or is killed remains to be seen, but it’s a cryptocurrency to watch moving forward, as it looks to disrupt the current content ecosystem.
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