TRON – Blockchain for the entertainment industry
Since when does TRON exist?
The ICO of the TRON platform ended on September 2, 2017 and raised a total of $ 70 million. You could buy the platform token, Tronix (Trx), at the time for $ 0.0019 and it is now traded for $ 0.018. This is already a nice increase of 1000%! To bring more attention to the project, they decided to hold an airdrop next to the ICO on 30 October.
“An airdrop is a growth strategy used to bring the altcoin to the attention of potential investors. Small numbers of the altcoin are given away for free to create a community. Ultimately, the goal is for these people to buy extra tokens.”
Binance traders were charged 500 TRX to do their first trades. It is a smart way to get a good name recognition with a small amount of money. This strategy has worked with us in any case, and now that you are reading this also with you!
What is the purpose of TRON?
TRON has been developed for the digital entertainment industry. Online casinos, games and social networks fall within this industry. This industry has a worldwide market value of 1 trillion dollars. The TRON protocol makes it possible for everyone to publish, store and manage their data in a decentralized way. They want the creators of documents, music tracks and games to be able to manage and distribute them again. Nowadays this is no longer the case. There is always an intermediary involved who then demands a portion of the proceeds. By controlling everything again, makers can earn more and the prices become more transparent.
The founder of TRON, Justin Sun, created the Peiwo application after his studies. This is an app that is now one of the largest live streaming application in China. The platform has more than ten million registered users and around one million of them are active every month. The Peiwo app will be the first application that TRON will use. It will use the smart contracts of the platform in particular to arrange the live shows. With this, TRON has already beaten the giant Ethereum in terms of the number of platform users.
When other applications will soon start using TRON, the platform can remove the barrier between applications. For example, if you have 1000 TRX on the Peiwo app and would like to buy something in the game application, then you can easily transfer the money from the Peiwo app to the other application and make your purchases here. Identification does not have to be done again with the new app. This operation is only required once. The user information is on the blockchain and not in the application. Apps cannot resell your data to others.
Who is the initiator of TRON?
The CEO of TRON is Justin Sun. He was previously a representative of Ripple and has, as previously indicated, developed the Peiwo application (China’s Snapchat). At the moment, Justin’s team has more than 60 people, including Lucien Chen from Alibaba and Tencent from Wechat.
Who are the investors?
Among the TRON investors are a number of big names, including:
Binshen Tang, the owner of the game Clash of Kings, play this game more than 40 million people.
Jihan Wu, the CEO of Bitmain. People who are familiar with Bitcoin mining probably know him. Bitmain is the company that ASICs produce Antminers and is one of the largest mining companies in the world.
Weixing Chen, the founder of Kuaidi (Chinese Uber)
Linke Yang, founder of BTC China
What can you do with the tokens (TRX) on the platform?
TRON’s official currency is Tronix. Tronix is there to replace all currencies that are involved in the entertainment world. This makes it possible to exchange money back and forth between multiple applications that are connected to the TRON network. Giving an example:
If you play Call of Duty and have some money left after buying a gun, it is possible to transfer this remainder to your FIFA account. For example, with the Call Of Duty TRX you can decide to buy the Messi player in FIFA. Aren’t you such a gamer? Then you can also use the TRX to make purchases on social networks or pay for a movie in the online cinema. All this with the same currency and in a fast, safe and reliable way. Nowhere do you have to re-verify yourself and your data will not be left behind with any party.
The TRX token is a token based on the ERC20 protocol. This makes it possible to hold an ICO on the TRON platform and the tokens can be used for financing it.
The total number of TRX is 100 billion, of which 65.7 billion is in circulation. There is a hard cap on the number and that means