TITLE/TICKER: Tron / $TRX
COMPANY ORIGIN: China
FOUNDERS/CEO: Justin Sun
PURPOSE: Decentralised digital content
MAJOR PARTNERS: oBike, Bitmain, Zag S&W
WORKING PRODUCT: Yes
What is Tron?
Tron ($TRX) is a decentralised blockchain/platform founded by Justin Sun which is looking to primarily be a P2P entertainment ecosystem. Justin Sun is somewhat of a notable figure — being a Forbes ’30 under 30′ recipient and already finding success with Justin’s first venture Peiwo (pay-to-chat app.) which is currently active and operating on the Tron network. Tron is looking to tackle to major problems to date — creating and executing/deploying digital content & transparency between creators and audiences competing with traditional media giants such as Itunes, Spotify, Netflix an many more. Tron is operating in a growing entertainment market which has no signs of slowing with growth of 10% in some regions. Lets see if Tron has the fundamentals to succeed despite a lot of noise and controversy around the project.
How does Tron work?
Tron by design is very simple -it is a platform where developers are able to create dAPPS utilising Trons network and ecosystem — just like Ethereum or any major blockchain. The native Tronix $TRX token allows for value and payments within the ecosystem e.g Buying media, development, executing smart-contracts, transferring value p2p and much more. TRX is also liquid with other cryptocurrencies which means it can be brought and sold with ease on most exchanges.
What problems is Tron looking to solve?
Tron is looking to remove the middleman and create security, trust, and transparency around p2p media and content distribution. Current systems we see such as Itunes, Spotify, Netflix (to name a few) and these platforms do not reward the artist or content creator to their true value. In addition to this fees are high and there is a large amount of trust, security, and control in the hands of these platforms which can lead to many issues and failures which we see with centralised control.
Tron’s potential use-cases and dAPPS
Tron has a variety of use cases beyond media distribution — as stated in the Tron Whitepaper — Gaming, Lifestyle, Betting are all valid verticals. Tron has also had some early stage development and dAPPS including Gifto which is having the most success to date on the Tron platform.
- Gifto (dAPP)
- Peiwo (dAPP)
- BitTorrent (dAPP)
- Dradio (dAPP)
- Gaming Rewards
- Live Streaming
Tron vs Competitors
Tron is currently battling against traditional media platforms such as Itunes, Spotify, Netflix and many more looking in from a western perspective, however, China is not the west and the ground battle with other Chinese platforms will huge for Tron. It also must be mentioned that there is major potential for other Chinese blockchains to attack Trons verticals as these have low barriers to entry e.g developers/dAPPS can be created at any time on rival blockchains that can handle the output and other benefits Tron is offering. Partnerships, speed to market and a superior product will be the true challenge here. Also, it will be interesting to see how the likes of the traditional players deal with the emerging blockchain/cryptocurrency based projects — will they adopt or be left behind?
Tron’s Team & Foundation
Tron is led by Justin Sun who has some notable accomplishments to date including;
– Graduated from the University of Pennsylvania
– 2015/17 Forbes/Asia 30 under 30
– Former chief rep of Ripple China
– Founder of the app Peiwo (effectively China’s version of Snapchat
– First millennial graduate from Hupan University founded by Alibaba’s Jack Ma
Another notable team member is that of CTO Lucien Chen who is a former employee of Alibaba and other major Chinese internet companies e.g Netease, Tencent and Qihoo 360. The Tron Foundation is a non-profit organisation based and located in Singapore — which is a crypto and technological hub booming in Southeast Asia. The Foundation is responsible for the networks openness, transparency and supporting development and governance initiatives.
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