What is Tron?
Tron is a blockchain-based decentralized platform that aims to build a free global digital content entertainment system with distributed storage technology and provide later and cost-effectiveness for sharing digital content.
Tron was discovered in September 2017 by a non-profit organization in Singapore known as the Tron Foundation. It is headed by Justin Sun as CEO and has a dedicated in-house development team that includes well-known technology advocates.
The Tron network uses its own cryptocurrency called Tron (TRX).
One can buy Tron on an exchange such as Bitocto by exchanging it for Rupiah (IDR), internationally Tron can also be obtained by exchanging it for other cryptocurrencies such as ETH or BTC. Tron can also be stored on digital wallets as in Bitocto.
Tron can be used by content users to pay for the content they want to access. These coins will then go into the content producer's account, where they can then exchange them for cryptocurrency or other fiat currency, or it can be used to pay for blockchain services.
In February 2018, TRX ranked 15th on the list of largest cryptocurrencies by market capitalization.
The Origin and History of Tron as a Crypto Asset
The Tron cryptocurrency — sometimes known as Tronix — was originally the only token used on Tron's blockchain-based entertainment system. The coin appeared on the market last year after initial coin offerings in August 2017 and in less than a year has grown into the 10th largest cryptocurrency by market capitalization.
ICO (Initial Coin Offer)
The coin was offered at a price of $0.0019 and a sales target of $70m was reached. According to CoinMarketCap, there are currently 65.75 billion Tron tokens in circulation out of a total of 100 billion.
Tron was first listed on CoinMarketCap on September 13, 2017, for $0.002. The trading volume of the day was $48,512. The highest price of the currency $0.30 was achieved during trading on January 5, 2018, while the largest trading volume of $4,089,410,000 was achieved the previous day. Most of Tron's actions are based in Asia, with the most popular deals being the TRX and KRW (Korean Won) pairs, followed by TRX and BTC.
Main Cast
Tron is the vision of one person, Justin Sun, founder and CEO of the Tron Foundation. Sun was previously the head of Ripple's representative on Chinese territory. In addition to Tron, Sun is the founder and CEO of Peiwo whose live-streaming app has over 10 million registered users, mainly in China. The app is fully integrated with Tron.
Sun is a protégé of Alibaba founder Jack Ma and has just graduated from the exclusive Hupan University in Ma. With his graduate thesis entitled "The Birth of a Decentralized Internet". Sun also studied at Peking University and the University of Pennsylvania.
Born in 1990, Sun has appeared on Forbes" "China 30 under 30" and "Asia 30 under 30" lists. Sun plays a very active role in promoting Tron and has over 400,000 followers on Twitter.
Tron Foundation
Based in Singapore, it is a non-profit organization that is "primarily involved in the operation of the Tron network with the principles of openness, fairness, and transparency". Key figures include Sun with CTO Tron, Lucien Chen, technical director Keelson Yang and developer Xie Xiaodong.
Independence
Tron started its story on the Ethereum blockchain but is now free. Tron's main network was launched on May 31, 2018, and the migration of Tron tokens from ERC20 to Mainnet TRX took place between June 21 and 25, 2018. The speed of the promised transaction on the new network with Tron says that testing has shown a speed of 2,000 TPS – well above the Ethereum level.
In addition to the speed claimed from its new base, Tron says the new platform will make it easier for developers to create decentralized applications because they are built using Java while Ethereum uses the more specialized Solidity programming language.
Sun is also looking at a new, more egalitarian cryptocurrency world to come with Tron migration. He said that with other currencies such as Bitcoin and Ethereum, "miners, founders, and development teams hold most of the power".
Tron plans to grant token holders governance rights. "The revolution will begin with Tron when we become a new decentralized protocol with a democratic community, self-government, free elections, and complete legitimacy," he said.
Stages
Tron is a long-term project with the Tron Foundation that has a six-stage roadmap planned until 2027.
In 2018 Tron is at the so-called Output stage, focusing on data release, which will last until December 2018. Tron describes this stage as "a mechanism of uploading, storage, and distribution based on peer-to-peer and distributed content," Tron provides users with a "completely free and reliable platform for data publishing, storage, and dissemination."
Going into the next stage, Odyssey, will last for 18 months and centered on empowering content. Tron wants to incentivize creators with a "fair return for content creation, distribution, and dissemination." It aims to slash middlemen such as Apple stores so content manufacturers can receive funds directly from consumers.
After the Odyssey, the Tron roadmap has 4 more stages — Great Voyage, Apollo, Star Trek, and Eternity. It aims to see individual ICOs launched using the Tron 20 standard and the creation of a decentralized forecasting and gaming platform.
| Description | Amount |
|---|---|
| Latest Prices | US$0,143136 |
| Market Capitalization | US$2.301.966.302.643 |
| Market Rankings | #18 |
| Supply | 71.660.220.128 / 100.850.743.812 |
| Maximum Supply of | 100.850.743.812 |
| 24 Hours Trading Volume | US$7.329.996.523 |
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Very informative sir
@blindfolded
I have really learnt a lot. Thank you very much 🙏