TRON is a global decentralized entertainment content distribution platform launched in September 2017 by the Singapore headquartered, TRON Foundation. The interest in buying a TRON coin has surpassed even the likes of established cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
A Few Important Facts Related to Tron Coin Development
- TRON has its own cryptocurrency named Tronix (TRX) priced currently at $0.030. With a total market cap of $2.2 billion.
- TRX tokens are utility tokens that can be used as a medium currency for all TRC-based tokens. These tokens reside in the MainNet and they facilitate easy execution of transactions by the users across the blockchain network. TRX tokens can be purchased in the leading cryptocurrency exchanges like Binance, Kucoin, Poloniex, and Remitano.
- TRON can be used for payment, development, and storage. The owners of TRON will retain complete control over the data they create including how it gets distributed to the audience. TRON can be stored in either mobile wallets like TRONSCAN or hardware wallets like Ledger Nano S and Trezor.
- TRON uses the delegated proof of stake consensus mechanism (DPoS) to safeguard its blockchain network. Users can earn passive income whenever they stake their holdings in the TRON network’s wallet.
- TRON aims to eliminate intermediaries in content sharing and content distribution and ensure that the content creators get their due reward. Content creators can directly share their different forms of content with the target audience and take the entire profits without paying any commission.
- Hence, it competes with big tech companies like Facebook, Google, and Apple who operate their business by selling users’ data through their various products and services.
- TRON was founded by Justin Sun who is very close to the head of Alibaba, Jack Ma. Justin recently compared TRON as digital oil to Bitcoin’s digital gold and Android to Ethereum’s iPhone. His ultimate goal is to transform TRON into a cost-effective and fast distributed ledger technology network.
- TRON is already dominating the blockchain technology-based DApps market and is slowly venturing into the DeFi space as well with various financial applications being built on its network. Popular cryptocurrencies like Bitcoin and Ethereum have already been tokenized on the TRON network.
- TRON development has a 10-year long roadmap that ends in 2027. It has six different stages namely Exodus, Odyssey, Great Voyage, Apollo, Star Trek, and Eternity.
- Exodus will create a free peer to peer platform for distributing and sharing entertainment-related content. Odyssey will encourage content creation and provide economic empowerment through attractive incentives. Users can make a transaction using the TRON cryptocurrency.
- Great Voyage will handle issues like income payment, dividend distribution, and the management of devoted supporters of TRON. Apollo will increase the system’s economic vitality by permitting the producer of the content to create his own token.
- Star Trek will transform TRON into a decentralized gaming platform. This will further increase TRON’s market cap in the future as gaming has a vast untapped potential and capacity to generate huge profits in the long run.
- Eternity, which is the final stage will allow the developers to crowdfund their different games and permit interested people to invest in their games, and determine the trends for the gaming market in the years to come.
- TRON’s main issue is that critics have pointed out that its whitepaper has been plagiarized from the likes of Filecoin and IPFS. However, Justin has pointed out that the glaring similarities in the whitepaper have been due to the incorrect translations made by different volunteers who have also missed including numerous important details in the text. TRON’s whitepaper was originally drafted in Chinese and has been translated into many languages like Korean, Japanese, Spanish, and English.
- TRON has established productive partnerships with some heavyweights like Samsung, Huawei, BitTorrent, oBike, Baofeng, and Game.com for various cryptocurrency and blockchain-related projects.
- The TRON ecosystem includes several projects like PoloniDEX, TRON Wallet, TRONSCAN, TRON DApps, TRC-20 USDT, JUST, which is a decentralized stablecoin lending platform, and SUN Network, which is a scaling solution for the TRON Mainnet with high security, low consumption of resources, and complete customization.
- The main advantages of using TRON are faster processing of transactions, lower transaction costs, greater throughput than the likes of Bitcoin and Ethereum, high scalability ensured by an effective smart contract, and a higher intrinsic value due to multiple factors like a reliable network structure, more decentralization, and an improved mechanism for distribution of different rewards.
The Future Expected for Tron Network Development
TRON has a positive and bright future ahead if it manages to execute its six different stages successfully. The global entertainment and gaming industries are also growing rapidly and this will add to the utility of TRX. This will lead to more investment flowing into TRON from prospective investors in the years to come.
TRON is already giving stiff competition to Ethereum by having a greater transaction volume and a higher number of daily wallets on its platform. TRON’s price will continue to soar in the future and showcase a bullish trend. It may even hit $1 soon.
It has ambitious plans to build a decentralized version of the Internet through DApps powered on its platform. A decentralized Internet will be very different as there will be no hosting companies and the entire network will be run by personal users.
Users will pay content creators and app developers in Tronix coins. It needs to expand its avenues from gaming, exchanges, and gambling to more fields in the future to realize its vision of a free and open Internet.
TRON is ranked 17th in the list of largest cryptocurrencies in the world by market capitalization with a share of only 0.38% currently.
Justin firmly believes that cryptocurrencies represent the future of money and boldly predicted Bitcoin to breach the $100,000 mark by 2025. TRON is very smart in media coverage and always features in the top headlines due to clever PR campaigns.
Hence, Tron Coin development represents the future of online media. It is a compelling investment with rewarding yields in the long run. It can be used by gamers, content creators, publishers, and musicians. Tron blockchain platform development will be a big rage in the cryptocurrency world soon.