TRON is a decentralized protocol based on the blockchain with the goal of creating an entertainment system around the world with free content thanks to distributed storage technology and the blockchain. By using the TRON protocol, users are able to publish, store, and own data. While using the autonomous decentralized form, they can choose how to distribute the data. The form also allows subscriptions and pushing content by releasing and then circulating the digital assets.
The very first TRON-compatible entertainment app will be the Peiwo App, which has more than 10 million users.
Who is behind TRON?
The CEO of Tron is Justin Sun, who was chosen by Forbes Asia for their 30 under 30 list. He founded the chat app Peiwo and was also was the former representative of Bitcoin settlement platform Ripple in China. Justin is also the protege of Jack Ma, the founder and Executive chairman of Alibaba.
Justin Sun, Image from Forbes
Tron have established a large team of developers and advisors which you can view on their homepage here.
What Is the TRON Foundation?
The TRON Foundation is based in Singapore and follows the principles of Sir Tim Berners-Lee. He argues that the protocol should be used to help people instead of making profits for smaller groups. The TRON Foundation is a nonprofit that operates the TRON network while following its key principles of transparency, fairness, and openness. Any “profits” the foundation earns are considered surplus and are held onto for later use in the form of events and activities. Members never participate in or benefit from the profit distribution.
What Separates TRON from Centralized Protocols?
Because it is a decentralized content protocol, TRON has several important differences from centralized ones. Data are uncontrolled and free, letting users store, upload, and spread videos, audio, pictures, characters, and more without limits. It also provides content enabling, meaning that users get digital assets by providing and then spreading content, so a content ecology evolves.
TRON takes a personal approach to an ICO, with an individual being able to contribute freely. Others may buy digital assets to take advantage of services and other benefits. Finally, the digital assets are distributed and use a decentralized infrastructure that includes forecasts, game systems, autonomous gaming, and a distributed exchange.
What Are TRON’s Core Values?
To keep TRON on track with its developers’ vision, the protocol has several core values that must always be followed. Users who create data will always have fundamental ownership of that data. This goes along with the idea that the internet is ideally decentralized, both of which are inspired by Berners-Lee.
TRON also says that anyone who contributes ecologically is entitled to profits of a proportional value. Additionally, all types of contribution have the same value and time invested to provide fairness. Because TRON focuses on the people instead of making money, the content should align with this goal. The objective should remain to share quality content and art for others to enjoy and appreciate.
Most importantly, TRON’s main goal is still providing services for the people in the public. Instead of trying to make money, like most other protocols based on the blockchain, TRON simply wants to serve people who want entertainment via content viewing. With its success, everyone who participates in TRON will benefit, which is enough of an advantage with no need for financial gain.
What Is TRONIX?
TRONIX (TRX) is the currency for TRON and forms the basic unit that all accounts in the TRON blockchain use. All other tokens get their value from TRON’s value. If a user locks their TRONIX, they can get TRON Power, which is essentially locked TRON. TP is a type of TRONIX that comes with a right to vote, providing holders with additional privileges over those who hold regular TRONIX.
How to Buy Tron TRX
You are not able to purchase TRX with “Fiat” currency so you will need to first purchase another currency – the easiest to buy are Bitcoin or Ethereum which you can do at Coinbase using a bank transfer or debit / credit card purchase and then swap that for TRX at an exchange such as Binance.
Register at Coinbase
For first time buyers of crypto currency, we recommend that you use Coinbase to make your first purchase – its easy to use, fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.
You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines. Make sure you use our link to signup you will be credited with $10 in free bitcoin when you make your first purchase of $100.
To get started, click the “Sign up” button where you will be taken to a registration form where you will need to enter your name, email and choose a password.
For this guide, we will be purchasing Ethereum to swap for our target cryptocurrency. The reason for this is that it has far cheaper fees than bitcoin for sending and the transaction also happens a lot faster. So in Coinbase, visit the “Buy / Sell” tab at the top, select “Ethereum”, choose your payment method and enter the amount you wish to purchase – you can either enter a US Dollar amount or a number of Ether.
You will then be asked to confirm your transaction, if paying with a card you might have to complete a verification with your card provider. Once that’s complete, your Ethererum will be added to your account.
Purchase TRX at Binance
What Does the TRON Roadmap Look Like?
The TRON Roadmap is divided into six stages, each with its own name. Exodus, the first step, looks at liberating data. In this phase, TRON gives users a reliable and completely free platform that they can use to publish, store, or spread data. It is designed to help users distribute and store data for distributed and peer-to-peer content.
Phase two, Odyssey, is about content empowerment. During this phase, the economic mechanism will become competitive due to content ecology, empowerment, blockchain technology, and economic incentives. Users will get a fair return on the content they create and distribute, encouraging them to help spread the system.
Phase three (Great Voyage), the personal ICO, looks at how TRON resolves major issues, such as paying dividends, managing supporters, and measuring income. It also helps transform into a “fan finance” from a “fan economy.”
Phase four, Apollo, focuses on the free movement of value, letting every producer of content within TRON create their own tokens. To make this a possibility, TRON must create a decentralized trading platform, which also increases the system’s economic vitality.
Next is phase five, Star Trek, monetizing traffic. With the global gaming market being over $450 billion in 2014, TRON hopes to take advantage of these figures by creating a decentralized online gaming platform. With TRON, developers can build these online gaming platforms freely, allowing for predicting market functions and fully autonomous gaming.
Finally, phase six (Eternity) converts traffic by offering an online game platform. Developers will be able to set up their game platforms via TRON freely. With TRON, they can crowdfund their game development with ease, letting regular people invest in the games they are interested in and have a say in the future of the gaming market.
Those who want a more concrete roadmap can align various dates with each of the above stages. Exodus is currently in progress, as it began in August 2017 and ends in December 2018. Odyssey will take place from January 2019 to June 2020, followed by the Great Voyage from July 2020 to July 2021. Next up will be Apollo beginning in August 2021 and ending in March 2023. Following this is Star Trek, from April 2023 to September 2025. Finally, Eternity begins in September 2025 and lasts until September 2027.
TRON answers the demand of those in search of entertainment who want to take advantage of the blockchain, a group of people that is growing in number. The only downside of TRON is the long-term nature of the roadmap. Although, this also has the benefit of ensuring the team gets everything correctly the first time, before the release, and users experience no problems. Once completed, and even as it advances through the various phases, TRON will prove useful for those in search of a decentralized protocol to help with online entertainment.