Tron (available on Binance) [TRX] is a blockchain-based decentralized platform seeking to build a free, content entertainment ecosystem. The system being built will use distributed storage technology, which will allow east and cost-effective sharing of digital content. The project was founded by the Tron (available on Binance) Foundation, a Singapore-based non-profit, back in 2017.

Team

Tron (available on Binance) [TRX] is lead by its CEO, Justin Sun. Sun is often said to be the “Jack Ma” protege, who is the founder of Alibaba. At just 27 years of age, the tech entrepreneur has quite the resume. He graduated from the University of Pennsylvania, and in 2015 he was given the away for Forbes China 30 under 30. Last year he passed that mark and received the 30 under 30 for all of Asia. Sun is the founder of Peiwo APP, which is China’s version of SnapChat that currently has 10 million active users. Tron (available on Binance)’s Founder also was the chief representative of Ripple (available on Binance) (XRP) China. The most recent achievement of Mr. Sun is that he was the youngest graduate of Hupan University, which was founded by Jack Ma.

Tron (available on Binance)’s team includes a number of key players. The Tron (available on Binance) Foundation’s CTO, Lucien Chen, is a former employee of Alibaba and has countless experience with first-tier internet companies such as Tencent, Qihoo 360, and Netease. Tron (available on Binance)’s development team has been at the forefront of importance since the companies ICO in late-2017. It is currently equipped with top-tier Chinese developers, and it is continually expanding. Many of Tron (available on Binance)’s key leaders are all previous employees of Alibaba or have extensive technical experience. You can view the foundation’s growing team here.

What is Tron (available on Binance)?

Tron (available on Binance) uses features of both the blockchain and peer-to-peer (P2P) network technology to bridge the gap between consumers and content creators by eliminating the middleman. The project seeks to remove the middleman from a number of transactions within the entertainment and social media platforms. Popular websites used by consumers daily like Youtube make hosting a media project an extremely difficult and costly process. Also, it cuts the middle parties like the Apple Store and Amazon, so that creators can control the access to their content and can avoid the high fees the companies charge.

Take Netflix for instance, the company operated a digital entertainment platform that offers on-demand content. The services are controlled by a single organization in a centralized manner. A person must subscribe and pay Netflix to watch the on-demand movie produced by a group of entrepreneurs that are hosting it on the entertainment platform. From the monthly fee from the consumer, Netflix takes a cut from hosting the movie and pays the remainder to the producer. The majority of the money share taken is often from the middleman, giving little to the creators.

Tron (available on Binance) some-what copies Netflix’s business model but runs it on a public blockchain. Anyone and everyone is allowed to host digital content on the Tron (available on Binance) ecosystem. Tron (available on Binance)’s global audience will be able to pay the content creators directly to access their content.

What is TRX? 

The Tron (available on Binance) network uses its own ER20 cryptocurrency named Tron (available on Binance)ix (TRX).

TRX can be used by content consumers to pay for the content they want to view. The coins will go to the content producer’s accounts, where they can exchange them for other cryptocurrencies, or they can be used to pay for blockchain services.

You can trade for TRX with BTC/ETH on various exchanges such as Upbit, Binance, Bittrex, Bit-Z, Huobi, CoinEgg, OKEx, Qryptos, Liqui, ETHfinex, Gate.io, Coinnest, Koinex, Coinrail, and a few other smaller exchanges. Purchase with fiat is unable at this time and TRX can be stored on wallets that support the Ethereum (available on Coinbase) blockchain, since it’s an ERC20 token.

From September 13th, 2017, when TRX debuted, to the end of 2017, the coin grew over 2000%. That’s insane growth in just over 90 days.

RoadMap and Development

Tron (available on Binance)ix [TRX] Roadmap and DevelopmentSource: Block

Tron (available on Binance) recently launched their test net to their first project Exodus, which is expected to conclude in December of 2018. Tron (available on Binance)’s main net was pushed up and is expected to launch on May 31s of 2018.

Exodus‘ seeks to solve the fact that companies can access your data, such as the current Facebook debacle. Exodus, when completed, will be a mechanism of upload, storage, and distribution of peer-to-peer distributed content. It will provide users a free and reliable platform for data publication, storage, and dissemination.

Odyssey will be built from January 2019 to June 2020 and is focused on providing incentives for content creators. It seeks to reduce the fees that content creators pay when holding channels on centralized platforms like Apple’s App Store and The Google Play. Odyssey will monetarily incentivize the creation and hosting of content on Tron (available on Binance). Instead of the traditional ways of tracking clicks and views of the content being watched, the incentives on Odyssey will depend on user interaction and engagement of the content. It could potentially end up being a “tipping” plan, sort of like a reward on how good the content was perceived by the consumer.

Let’s say you come across a singer on youtube but after the video was over you had a chance to “tip” them to incentivize them to create more content so that you can continue to listen to their music. Tron (available on Binance)’s incentives might be very similar to this but could also change since it’s so far out.

After these two major developments are completed, there are still 4 more stages to be built to complete the full vision. The Great Voyage and Apollo are set to enable content creators to build their own personal brands and will give them the ability to issue their own individual initial coin offerings and even issue their own personal tokens. The later stages of the development seek to be centered around blockchain-based application platforms such as Ethereum (available on Coinbase), NEO, EOS, Lisk, and Cardano.

The full Tron (available on Binance) ecosystem isn’t set to be fully completed until September of 2027.

Tron (available on Binance) currently has 253 nodes running on 5 continents around the world and is rapidly expanding, before its main net launch.

Convinced?

If you’d like to stay up-to-date with Tron (available on Binance)’s progress I suggest you follow Tron (available on Binance) Lab’s Medium page, where the Tron (available on Binance) Foundation supplies most of Tron (available on Binance)’s progress. Updates to Tron (available on Binance) are also published on the Tron (available on Binance) Foundation’s Twitter page, as well as Justin Sun’s Twitter page, as well.

If you’ve been considering trading for TRX, now might be the perfect time to invest.

Featured Image: Forbes

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