TRON (TRX) – A BRIEF INTRO FOR INVESTORS
TRON seeks to be a disruptive force for content creators by creating a decentralized content system in which creators can cut out the middlemen and use their own Tron-20 tokens for transactions.
- Proof-of-stake consensus model
- 6 stages of development are planned through 2027
- Distributed file sharing platform called ‘Exodus’
- TRX can be locked to the blockchain to return Tron Power which brings with it network voting rights
As of February 2018 there are over 65 billion TRX in circulation, with a fixed cap supply of 100 billion. The Tron Foundation and initial investors hold about 60% of all available tokens, most of which are locked in a smart contract for several years and unable to be sold.
Tron is building its own Turing complete platform for smart contracts that is secured through a proof-of-stake consensus mechanism.
Tron operates as a public blockchain with all transactions and amounts available for public viewing.
The project is operated by the non-profit Tron Foundation. Founder Justin Sun had previous involvement with Ripple and created the largest voice streaming app in China, PEIWO. The rest of the team includes developers and UX professionals with decades of experience.
The advent of Youtube and Facebook has made anyone a content creator. It is time to put the power back in the hands of the people producing content and get rid of middlemen by utilizing the decentralized Tron network, which allows anyone to create their own currency.
While many cryptocurrency projects are looking to disrupt the financial and legal markets, Tron is working to develop a solution that will change the entertainment and media industry.
This is done through a decentralized content system where content creators can create their own token, known as a “Tron 20” token, which users can purchase to view content, and creators can be directly compensated for their work without using any service for a fee.
Empowering content creators in this way eliminates the need for centralized companies such as Google, Facebook, and Youtube, which are able to censor content and decide how much to pay content creators. The native token on the TRON blockchain, Tronix (TRX), is meant to be the mediator between all tokens built on its blockchain.
The Tron team is based in China and is looking to disrupt content distribution in their home country, which is highly censored. Future applications of the Tron blockchain include gaming and decentralized forecasting.
HOW TO BUY TRON
Tron (TRX) can be purchased via select cryptocurrency exchanges around the world, but over 90% of the trading volume of TRX is done on Binance. Be sure to review the currency pairs that can be exchanged for TRX before giving away any personal information or making a deposit.
EXCHANGES WHERE YOU CAN TRON (TRX)
|EXCHANGE||COIN PAIRS TRADED|
|HitBTC||TRX/USDT, BTC, ETH|
|Bitfinex||TRX/USD, BTC, ETH|
|Liqui||TRX/USDT, BTC, ETH|
|OKEx||TRX/USDT, BTC, ETH|
Users should be aware that if they click on a cryptocurrency link and sign up for a product or service, we will be paid a referral fee. This in no way affects our recommendations, which products we choose to review or our advice which is the sole opinion of the authors.
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.