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Tron Cryptocurrency: A short informative guide
Tron Cryptocurrency was introduced specifically for the entertainment industry. It aims to utilize blockchain technology and create a free platform for content creators to publicly publish, share and own their data.
Tron looks to decentralize the internet by using a blockchain-based system for dappas and smart contracts. It wants to give power back in the hands of content creators to create their own content, websites, and apps without the need to surrender their content or rely on centralized services.
TRONIX (TRX)
Tron has introduced its official token Tronix a the basic currency unit for all accounts of the TRON system. It can be earned and spent on a wide range of platforms. TRX is also the platform's exchange currency. Just like Ethereum, Tron allows its users to launch their own currencies using dapps. These currencies will be known as Tron 20 tokens and will be based on TRON protocol. For all such currencies, TRX will be the medium of exchange.
TRON has introduced a unique concept of TRON Power. TRX allows users to keep Tron for extended periods of time. This time equates to Tron power a user receives. With this accumulated Tron power, the user can enjoy special privileges such as voting rights.
Working of TRON
Tron works on a three-layered architecture. The three layers are :
Storage Layer: It consists of blocks and state storage. It utilizes the graph database design to allow for faster processing and easy updates.
Core Layer: It is a host of multiple modules like smart contracts, consensus, account management. The platform has JAVA as its principal language and has a scope for using C++ and Python in the future.
Application Layer: It allows developers to create and deploy their own dapps. It also lets them customize and issue their own currency or tokens.
Tron makes use of a DPoS i.e. Delegated Proof-of-Stake consensus system where the TRON power holders decide on which node will act as a "witness" to a transaction. Rewards are received by these selected nodes on validating blocks on the blockchain.
Foundation and Team
Tron's vocal founder and CEO is the prodigee of Alibaba founder Jack Ma. His name is Justin Sun and he is also the founder of Peiwo, a mobile social platform.
Sun has an impressive resume to his credit. He was featured twice by Forbes in their Asia and China editions of "30 under 30" influencers.
Justin launched the TRON platform in 2017 and has backing from the Singapore based TRON Foundation. His Twitter profile boosts of an impressive 1.7 million followers, at the time of writing.
Partnerships
Tron has partnered with some impressive names from various industries in such a short span of time. Some of these partners include:
Game.com- Tron partnered with this gaming platform to expand its presence in the gaming industry.
oBike- oBike is a bike-sharing platform that now allows its users to earn oCoins when they ride an oBike. These coins are based on TRON protocol.
Gifto- It is a virtual gifting platform that partnered with TRON to “bring decentralised content creation monetization to millions of consumers”.
Tron has proved a useful platform for the entertainment industry content creators to fully own the rights to own, store and publish their content. The only risk with Tron is its uncertainty. If Tron can ensure proper safety of user content, it will be one of the best blockchain-based platforms for property rights.
What is TRON (TRX)?
What is TRON (TRX)?
What Is TRON (TRX)?
TRON (TRX) is a next-generation blockchain platform providing streaming content, cloud storage, and other online services. It is essentially creating the next-gen peer-to-peer internet envisioned in HBO’s Silicon ValleyTV series. Tronix (TRX) is proprietary ERC-20 crypto token used by the platform for tokenized transactions, which is in its Odyssey phase of development. Great…
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TRON is the product of TRON foundation (Singapore) founded by Justin Sun in September 2017. Tronix (TRX) represents its cryptocurrency.
TRON (TRX) is a crypto system designed to create a decentralized content platform on top of which social applications (such as Peiwo) can be built. A product of China's growing technology scene, TRON's main proponent is a 27-year-old named Justin Sun. (via What is TRON (TRX)? - QoinBook)
