TRON Review: Beginners guide
TRON (TRX): Decentralised entertainment sharing platform
Industry type: Internet entertainment industry
What is TRON?: TRON is an ambitious long-term project whose mission is to support a flourishing decentralised global entertainment economy on its blockchain network. The TRON foundation is a not-for-profit organisation whose team believes the internet belongs to everyone equally, and through decentralisation, content creators can own and profit from their work without the interference of industry middlemen.
- Technology designed for the internet 4.0.
- Decentralisation of the internet and specifically the entertainment industry.
- It provides content creators with a platform to store and share their work with 100% ownership.
- Content owners can create their own tokens and ICO’s.
- Game developers will be able to host their games on the blockchain network.
- TRON is a decentralised storage network. A miner earns TRX by providing storage for clients and clients spend TRX to hire the miner to store and broadcast their data. In this instance, the miner is offered a useful client-side service that will provide a strong incentive for miners to provide as much storage space as possible in exchange for client-side rent.
- Gaming developers can crowdfund and construct decentralised gaming platforms on the network.
- The social platform will have a function known as ‘Tinder Schema’. This allows registered users on the platform to earn TRX tokens for their content and activity through a slide function similar to the dating-app Tinder.
- Justin Sun is the founder and CEO Tron. Sun is young technological entrepreneur who is the protege of Chinese tycoon Jack Ma, and was listed on the Forbes 30 under 30 list three times. Sun is also the founder of the popular chinese social app Peiwo which has over 10 million users. Recently Sun purchased peer-to-peer file transfer protocol BitTorrent for 140 million dollars.
- Popular Chinese social app Peiwo and TRON are partnered for Peiwo users to trade and earn TRX tokens on the Peiwo platform.
- TRON is partnering with Gifto, a Hong Kong based virtual gifting platform on the blockchain which will use TRON’s technology to facilitate its transactions.
- Singapore’s largest bike sharing platform oBike, will base its cryptocurrency oCoins on the Tron network for users to pay for and earn from the oBike services.
- Game.com has partnered and customised a game for TRON where players can use TRX token to purchase, raise and trade various virtual pets similar to crypto kitties on the Ethereum network.
Review: The Good.
- Content producers and consumers will be able to buy and sell content without a middleman making a profit in between.
- Multimedia entertainment platform.
- The TRON foundation is a not-for-profit organisation.
- Token holders can stake their tokens and gain voting power on the platform.
- The team are transparent and communicate a lot with the community.
Review: Not so good.
- It doesn’t really offer anything new.
- The white paper is vague, it is hard to find solid information on the project.
- Respected voices in the crypto community have claimed TRON is vaporware (software that is nothing but vapor).
- There is currently nothing implying that Tron’s network will be able to scale to demand.
- It has been accused of plagiarising Ethereum and Filecoin.
- TRON has a future roadmap that extends to 2027 through different phases.
- Exodus: The current first phase is focused on offering a free peer-to-peer decentralised platform for sharing entertainment content.
- Odyssey: The second phase will focus on solidifying the proof of stake system and properly incentivise content creators to use the platform.
- Great Voyage: The third phase will focus on building the community and employees of the TRON network.
- Apollo: The fourth phase will on TRON’s personalised token and decentralized by the year 2023.
- Star Trek: The fifth phase will focus on securing market capitalisation for TRON.
- Eternity: The last phase will focus on developers creating their own games and take part in the fundraising events.
In my opinion, TRON is a courageous endeavour lead by a team of in-touch millennials that looks and sounds great on paper but currently has nothing new to offer. If its mainnet launch is successful then it will have its own blockchain and native cryptocurrency, but neither of these things are unique in a market full of working innovative technologies. TRON’s vision of a decentralised internet that belongs to everyone equally is a beautiful sentiment that strikes a chord in many hearts, but sentiment alone won’t develop technology for the internet 4.0.
The current TRON price, market cap and charts.
Where to store this crypto:
Hardware wallet: www.bitgear.com.au
Desktop wallet: www.exodus.io
Waves (WAVES) – Platform for users to create their own tokens.
NEM (NEM) – Platform for users to create their own tokens.
Cardano (ADA) – 3rd generation dApp platform.
Ethereum (ETH) – 2nd generation dApp platform.
Litecoin Whitepaper: https://o836fhe91.qnssl.com/tron/whitebook/TronWhitepaper_en.pdf