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TRON’s whitepaper describes the platform as “an attempt to heal the internet.” The TRON founders, including Justin Sun, believe that the internet has shifted away from its original intention of allowing people to freely create content and post as they please. Today, the internet is dominated by huge corporations like Amazon and Alibaba, while centralized entities like Google have undue control over the internet.
TRON wants to take the internet back, returning power to the people and reducing the impact corporations have online.
The key product offered by TRON Is a free content entertainment system. This system enables users to freely store, publish, and own data. Users have the power to decide where and how to share their data.
TRON’s team is promising. Justin Sun, for example, has been named to the Forbes 30 Under 30 list twice (2015 and 2017). In the blockchain space, Sun was the former Ripple representative in China and founded the Peiwo app.
TRON has courted plenty of controversy from various quarters for its aggressive marketing practices and plagiarism. In January 2018, it was alleged that vast portions of the TRON whitepaper was plagiarized. The CEO, Justin Sun, imputed similarities of the English whitepaper to other projects down to poor translation from volunteer translators.
TRON also has a habit of switching its stated purpose and value proposition. From being initially promoted as a decentralized entertainment content sharing platform for gambling, games and social apps, TRON has recently begun marketing itself as a protocol for ‘decentralizing the web‘ and ‘healing the Internet.’
TRON has a 3-tier model which comprises an application interface layer, a blockchain layer and a P2P distributed storage system.
The application layer access of content created and deployed on the platform. The blockchain layer is a smart-contract platform which employs a distributed, delegated proof-of-stake model to achieve consensus. The P2P storage system is a distributed data storage network for all content shared on the platform.
Consensus is achieved on the TRON network through a delegated proof-of-stake mechanism called TPOS, which features 27 community-elected super representatives who function as validating nodes for transactions on the network.
TRX holders will be able to gain TRON Power (TP) by holding and locking their TRX tokens for long periods. Higher TP equates to greater weightage in voting rights.
The Roadmap for TRON consists of six phases spanning 6 years,
Tron serves as an excellent social media platform, allowing users to freely exchange thoughts, idea, media without the interference of any middlemen.
Owing to the fact that this system is based on the blockchain, it allows users to have full control over their digital assets.In addition to this, users who share and create good content, are also rewarded either monetarily or in the form of other incentives.
An additional use of Tron is its ability to double up as a fully autonomous payment system. Users can send and receive money from any part of the globe within minutes when using this platform. The transactions are encrypted, and can only be accessed by the parties that are directly involved with them.
The Tron Foundation has been around for awhile now, and was set up initially to serve as a platform for cutting edge digital innovation. The company has been approved by institutions such as the Accounting and Corporate Regulatory Authority (ACRA), and is run by the Board of Trustees or the Board of Governors formed by eligible individuals for independent management and operation, which is also independent from the government's administration.
There is no censorship of any media that is relayed within the Tron network. This ensures that all parties have access to freedom of speech, and that nobody has to unfairly be subjected to corporate sanctions etc. The information that can be circulated without any prohibition includes characters, pictures, audios and videos.
Another underrated aspect of this system is its ability to stimulate content ecology via the use of incentives.
Users have to option to “freely distribute digital assets in the form of an ICO”. As a result of this, other platform users can enjoy the benefits and services that are delivered via the “continuous development of data contributors by purchasing digital”
The distribution of digital assets is done via mechanisms that are completely decentralized. Some of the other core features employed by this platform include distributed exchange, autonomous gaming, forecast and game system.
The official token used by the platform is called Tronix (abbreviated to TRX). It is currently on sale, and can be purchased via the use of fiat, as well as cryptocurrencies from the official company website.TRON has a circulating supply of roughly 65 billion TRX, with a maximum supply of 100 billion TRX. The Tron Foundation, which holds 35 billion TRX, has expressed an intent to carry out periodic coin burn to heighten demand for its native token.
In terms of the allocation of these tokens, the company has presented the following model:
TRON mainnet was launched on the 31st of May, with its first super representative election set to take place on the 26th of June.
Credit: Bitcoin Exchange Guide News Team
