What the Tron Cryptocurrency Means for the Future of Blockchain

The blockchain is coming for you, fight or flight? We’re not sure what that means, but if there’s one thing we do know it’s this. What the Tron cryptocurrency means for the future of blockchain — and where you can buy TRX.

Tron is booming with new ideas and participation from investors, cryptocurrency enthusiasts and everyday users. The proliferation of blockchain technology and the ICO are a few ways blockchain will be incorporated into our daily lives. But don’t worry, it doesn’t take a PhD to understand what Tron is getting at. Let’s find out more in this article!

When it comes to cryptocurrency, there have been few stories bigger than that of the meteoric rise and fall of Bitcoin, the king of all coins lately. If a relatively new online entity called Tron has its way, it wants to cash in on the future of cryptocurrency success.

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But what is Tron?

This is a good question, because the cryptocurrency has a pretty vague and complicated history. Tron was actually founded in 2017, but its roots date back to July of 2010. Tron’s goal was to create a simple and easy-to-use payment system like Bitcoin. It evolved from that intention into something much more complex. Today, it looks far different from its former self — but there are some things that remain consistent.

The first time I heard about Tron was at the beginning of 2018, when I started seeing it mentioned on South Korean forums. At the time, I had no idea what TRX stood for or what it was all about, but the project had evidently generated a lot of buzz in Asia. Soon after, however, I stumbled upon an article online that explained the idea behind the Tron blockchain. This peeked my interest and led me to do some more research on my own.

‍According to the whitepaper, Tron (TRX) was first conceived as a way to bring Ethereum-based applications to the entertainment industry. The company was founded by owner and CEO Justin Sun. With an ambitious vision in mind, Sun wanted to create a decentralized entertainment ecosystem that combined both content creation and consumption with blockchain technology. In other words, he wanted to use blockchain as a means of revolutionizing the way digital media was traded on the web.

The technology behind blockchain is making waves in the world of entertainment, with many companies applying it to their goals. While many of them have their own digital currency, it is rare for one to have its own blockchain network. As it turns out, Tron is one of the few — and perhaps the most ambitious.

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The company’s white paper outlines Tron’s strategy to leverage different decentralized applications (DAPPs). Using blockchain technology, P2P storage, security and microtransactions were created. From there, the project moved into micro-applications as well as content distribution. The overall goal was to empower people around the world with ownership of digital assets and content in a P2P environment without middlemen.

When I first read through the whitepaper, several things seemed logical. A team with a plan and an ambitious vision could potentially have great success, after all. If this goal is accomplished and the team achieves funding, it will be interesting to see what new things they can come up with — especially with their own blockchain network.

As for the direct implications of Tron for the cryptocurrency industry and its daily users, here are some pretty big ideas:

Tron’s integrated cryptocurrency exchange, BitTorrent token (BTT) and PoS system will enable market arbitrage in a single currency loop.

References:

1. Tron wiki
2. https://www.investopedia.com/tech/what-tron-trx/