TRON is a decentralised open-source cryptocurrency that incorporates blockchain-based peer-to-peer technology.
Based on principles of fairness and transparency, it’s key intention is to fairly compensate content creators quickly and directly. It’s distributed storage facility also allows users to access entertainment from all around the world without seeking assistance from the likes of GooglePlay Store and Apple Store.
The non-profit TRON Foundation, which was set-up with approval from the Accounting and Corporate Regulatory Authority (ACRA) under the supervision of the Company Law of Singapore, supports TRON’s development. Any surplus is retained for the purpose of the foundation, with members unable to obtain any share.
TRON was founded by CEO Justin Sun in 2017, who appeared in the Forbes 30 Under 30, Asia 2017. He was also responsible for founding Peiwo, a Snapchat-like app that matches and connects users by analysing 10-second voice samples as well as interests.
TRON strengths and attributes
TRON’s aim is to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. With its decentralised protocol, it’s main characteristics are:
- Data liberation – Images, video, and other types of content may be uploaded, stored, and shared with TRON on a free and uncontrolled basis.
- Personal ICO – Individuals may freely distribute digital assets in the form of ICO. Others can enjoy the benefits and services brought about by the continuous development of data contributors.
- Infrastructure – Digital assets are equipped with a complete set of decentralised infrastructures including distributed exchange and autonomous gaming.
TRON aims to establish a direct line between creators and consumers while simultaneously supporting a healthy ecosystem. It’s system for determining creator rewards takes the following into account:
- Creation – Simply creating and contributing content is enough to earn rewards. More regular contributors will earn more rewards.
- Metrics – Popularity and engagement metrics such as likes, comments, and shares will increase rewards for content creators.
The TRX token is the narrative currency of the TRON ecosystem.
TRON price and volatility
Towards the end of December 2017, Sun revealed that various developers of the Chinese e-commerce giant Alibaba.com had joined TRON. Around the same time, the price of TRX jumped from around US$0.0020 to $0.05.
Interest in TRON has been fuelled by ringing recommendations and strategic partnerships. For example, digital expert John McAfee recommended it as a long-term investment, helping it climb to 10th place in total market cap of all cryptocurrencies.
TRON also announced a new deal with Singapore-based bike-sharing company oBike, which has 10 million members across Asia, Europe, and Australia.
Most recently, Sun announced TRON’s partnership with Baofeng – China’s equivalent to Netflix. Baofeng boasts more than 200 million users and has an 8 billion [Chinese yuan] listing on the Shenzhen Stock Exchange.
As of 6th February, it has a market cap of US$1.7 billion according to CoinMarketCap.
This is despite the fact that an article by Matt O’Brien in the Washington Post said TRON “doesn’t actually exist” and is just “a white paper filled with a bunch of buzzwords.”