TRON

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Tron TRX – Wallet, Coin, Price

TRON is a blockchain-based, decentralized protocol project with an internal TRX coin that aims to be a content distribution platform for the digital entertainment industry [1]. On June 2018, TRON’s team launched of its mainnet, in other words, its own proprietary blockchain, to which it migrated all the TRX (ERC-20) tokens that previously circulated on the Ethereum blockchain. This event is referred to as the TRON Independence Day.

TRON Foundation was established in September 2017 by current CEO Justin Sun. Its landing page describes the aim of the protocol as the construction of a global and free entertainment content ecosystem, in which creators have the power to freely publish, store, and own their content, interacting directly with consumers thanks to the decentralized issuance, circulation, and trading of digital assets [2].

Project faced criticism for plagiarism in early 2018 because their whitepaper features open source code from Filecoin and IFPS whitepapers with no citation. Justin Sun has since responded that this was just a mistake made by volunteer translators.[3]

In March 2019 Justin Sun announced the purchase of decentralized apps store named CoinPlay.

TRON Review[edit]

$TRX Tron Cryptocurrency Review (Ethereum Developer's Review!)

Tron is designed to ultimately make entertainment content both easier to sell and cheaper to consume. In theory, this goal is achieved by putting the content on a blockchain and the creators and consumers in a network of peers, eliminating the middleman. [4]

The network has built a set of consensus mechanisms, which can use minimum cost to solve identification and personal credit issues in online transactions. It also uses point-to-point transactions to avoid traditional centralized settlement structure. The network can play the host role between users and developers, to ensure authenticity and compliance of info credit.

As explained in their website, the Protocol offers "scalable, high-availability and high-throughput support that underlies all the decentralized applications in the TRON ecosystem". The network incentivizes users to build their own decentralized entertainment applications (Dapps).

Uniqueness[edit]

  • Data release: free and uncontrolled content, including characters, images, audio, and video, can be uploaded, saved and distributed.
  • The provision of content: digital assets to get through the delivery and distribution of content cost to stimulate the creation of environmental content.
  • Personal ICO: a person can freely distribute digital assets in the form of ICO, while others can enjoy the benefits and services caused by continuous data development by buying digital assets.
  • Infrastructure: with distributed digital assets will be equipped with a full set of decentralized infrastructures, including distributed exchange, offline games, prediction, and game system.

Technical analysis[edit]

Tron technical solution

Tronix TRX Coin[edit]

The network's native token is the Tronix (TRX). Tronix can be used by content consumers to pay for the content they want to access on the network. These coins would then go to the content producers’ accounts, where they can be exchanged to other cryptocurrencies, or used to pay for blockchain services.

In February 2018, TRX was ranked 15th on the list of largest cryptocurrencies by market capitalization. (See also, Tron Surges: Ethereum Tops $1,000 As Bitcoin Price Falls.)

Tron Exchange[edit]

One can purchase Tronix on exchanges, such as Binance, OKEx, Huobi, Bittrex and etc. by exchanging them for other cryptocurrencies like ETH or BTC. Tronix (TRX) purchase with fiat currencies is not possible at present.

TRON Wallet (Tronix)[edit]

TRX Coin is a cryptocurrency, which token is based on the ERC20 Ethereum Standard. Thus, TRON is unique enough and it can be stored on most cryptocurrency wallets that support ERC20 tokens. Before start working, it is important to review all the information about storage and choose the most suitable wallet. Actually, there are no official Tron wallets.

TRON (TRX) Price[edit]

The BitcoinWiki provides a relevant TRX Price and market capitalization of the project:

Tron TRX Coin – Roadmap[edit]

The road map is divided into six stages, each with its own name.

  • The outcome of the first step is considering the release of the data. At this point, the project provides users with a reliable and completely free platform that they can use to publish, store, or distribute data. It is designed to help users distribute and store data for distributed and peer-to-peer content.
  • The second stage, Odysseus, is dedicated to the expansion of rights to content. At this stage, the economic mechanism will become competitive due to the environmental content, empowerment, blocking technology and economic incentives. Users will get a fair return on the content they create and distribute, encouraging them to distribute the system[5].
  • The third stage (Great Voyage), a personal ICO, looks at how blockchain-project solves major problems such as dividend payments, supporter management, and income measurement. It also helps to turn into "fan Finance" from "fan economy".
  • Stage four, Apollo, focuses on the free movement of Tron value, allowing each content producer in the system to create their own tokens. To make this possible, the project must create a decentralized trading platform, which also enhances the economic viability of the system.
  • Next-the fifth stage, Star Trek, monetizing traffic. If in 2014 the global gaming market will be more than $ 450 billion, the project hopes to take advantage of these figures, creating a decentralized platform of online games. With the help of TRON, the developers are free to create this online gaming platform that allows you to predict the market functions and is a fully stand-alone game.
  • Finally, stage 6 (Eternity) transforms traffic by offering an online gaming platform. Developers will be able to freely create their own gaming platforms through TRON. With the help of the project, they can easily manage their game, allowing regular people to invest in games that they are interested in, and talk about the future of the gaming market[6].

Criticism[edit]

Plagiarism in whitepaper. The whitepaper of the project appeared in English, Spanish and Russian translations in early January 2018. The document stated as foundational beliefs that the internet is not the free, decentralized territory it used to be, and that users should have a right to own and control their own data and to disclose information freely and voluntarily [7].

The whitepaper was widely accused of plagiarizing Filecoin and IFPS whitepapers. [8] Vitalik Buterin, creator of Ethereum, pointed out the whitepaper's plagiarism on Twitter on April 6th, 2018.

Justin Sun attributed the lack of citation to translation issues, saying "Our original version of the whitepaper is in Chinese and we have a very detailed reference to the latest Chinese version. The English, Korea, Japanese and Spanish versions are translated by the volunteers. The translation missed numerous important details not just reference"[3] The latest coin news is available on the special resources.

Perspectives[edit]

TRX reached its highest market price at $0.30 on January 5th, 2018. Tron's market cap peaked at $19.7 billion on the same date. It has fluctuated between 1.5 billion and 3.5 billion between February and April 2018.

The digital entertainment market is estimated at about 1 trillion U.S. dollars, of which most part is occupied with online games like a casino. The TRON platform can be compared in terms of volumes with such a company as Ali Baba, which is a world leader in the field of Internet Commerce. Since most of the TRON investors are from China, there is no doubt that this platform will get a lot of popularity there.

In April 2019 the price of one coin is $0,027 and the market cap is nearly $2 billion.

TRON mainnet[edit]

On June 2018, TRON officially activated its mainnet, migrating from Ethereum blockchain, and completed coinburn of 1 billion TRX. Right after that Freewallet released the first TRX wallet for mobile and added TRX to Multicurrency wallet.

After mainnet launch TRON acquired BitTorrent, the pioneer in distributing computing, thus expanding its ecosystem with 100M new members.

SunNetwork[edit]

The founder of the Tron decentralized applications platform, Justin Sun, announced the launch of a new protocol called SUN Network, and also named the estimated launch date for the token Tron-USDT. The launch of the SUN Network test network is scheduled for May 30, 2019, the official launch of the protocol is scheduled for August 10. From September 15, Tron will begin optimizing it to simplify interaction with previously integrated modules.

See Also on BitcoinWiki[edit]

External links[edit]

References[edit]

  1. Frisco d'Anconia, "TRON Breaks Into Top 10 Cryptocurrencies, Displaces Dash", Cointelegraph.com, 04.01.18 . Retrieved 13.04.18.
  2. n.d., "TRON Make Web Decentralized Again", Tron Foundation, n.d.. Retrieved 13.04.18.
  3. 3.03.1 Justin Sun, "Response", Twitter.com, 07.01.18. Retrieved 13.04.18.
  4. Shobhit Seth, "What is Tron?", Investopedia.com, 20.02.18. Retrieved 16.04.18.
  5. TRON - BitScreener
  6. How Well is TRON (TRX) Recovering - Global Coin Report
  7. n.d., "TRON whitepaper", ifps.io, date_published. Retrieved date_retrieved.
  8. n.d., "TRON’s Whitepaper Appears to Plagiarize from Filecoin and IFPS", ccn.com, 09.01.18. Retrieved 13.04.18.