TRX, TRX, TRX!
Tron(TRX) is making the news. And, why not? It has gained more than 1000% in the last month or so. In growth comparison, it has already beaten all the big-coins by large margins when it comes to making profits. It aims to disrupt the $1 trillion global entertainment industry.
So, what is TRON all about?
Let’s try to explore.
What is Tron?
TRON aims to solve the problem of the entertainment industry. It is building decentralized blockchain that will create a platform for peer-to-peer connection. This will eliminate the middle person from the whole transactions. For example, if a content creator needs to publish his content, he needs to go through platforms such as Google Play, or YouTube. With Tron, there won’t be any need for these platforms and anyone can contribute to the platform without worrying about 3rd party apps or platforms. All of this means that there is no need to pay commissions or high fees!
TRON utilizes TRX as the currency to sustain the blockchain. This means that users need to spend TRX to interact with the network.
All content types are supported
TRON supports all the diverse content type that you can think of. For example, it will let users share content such as videos, pictures, text or even broadcasts.
Key aspects of TRON
- Circulating Supply: 65,748,192,475 TRX
- Max Supply: 100,000,000,000 TRX
- Method: TRON 20 Token and TRON Power
- TRON Whitepaper:
TRON 20 Token
Don’t confuse TRON 20 Token with TRX. TRON 20 Token is created so that it will enable the content creators the ability to custom tokens whereas TRX is used as a medium of exchange over the platform.
To ensure that the ecosystem remains stable over an extended period of time, TRON Power is used. Anyone who has more TRON Power will have voting rights, and the only way to gain more TRON Power is to lock away the TRX tokens. This will surely help stabilize the ecosystem as long-term holders will get more preference over traders.
How does TRON work?
First thing first, TRON is not a simple project. It will take some time for it to go off the ground. The long-term project is divided into multiple phases. Let’s discuss them below.
- Exodus: The first phase is to create a platform that will enable users to store, distribute and create content. It will be a peer-to-peer enabled.
- Odyssey: Odyssey is aimed to provide economic incentives for the content creators so that they create more content for the ecosystem.
- Great Voyage: Content creators not need be individuals. They can be companies as well. Being ERC20 capable, the platform aims to provide individual ICO capabilities.
- Apollo: Content producers can deploy their own personal tokens powered by TRON 20 Token.
This doesn’t end here! They also have plans to expand the TRON ecosystem to the gaming industry.
How to Buy it?
To buy TRX, you first need to register on Binance or Kucoin. Both exchanges are good. Right now, TRX has seen some stabilization around 800 satoshis. According to me, it is a good time to enter. However, this is not investment advice and it is better to do your own research before investing.
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