Cryptocurrencies

Opinion on Tron (TRX), the future of Entertainment-Business? – Cryptocurrencies

Discover our opinion on the Tron project

The Tron project has been on the news scene for some time. The donation of a million Tron promised to Greta Thunberg, the famous environmental activist by its founder Justin Sun did not go unnoticed, for example. However, it is never unnecessary to inquire in more detail to get an opinion on a cryptocurrency. What are the special features of the Tron? Back on the characteristics of this currency and its platform before giving you our opinion on Tron.

Find out more about Tron

In principle, it is unwise toinvest in a cryptocurrency whose operation and foundations are not precisely known. So let’s take a closer look at the aspects of this crypto currency in order to be able to form an objective opinion on it.

What to remember from the Tron platform?

Tron constitutes a decentralized blockchain platform. This blockchain is a register of all transactions made since the creation of the project. It is open source (any user can access block data) and aims to decentralize the online entertainment industry, currently in the hands of a few influential companies like Amazon, Google, Facebook, etc.

Justin SUN, the Tron Man

Tron was launched in 2017 in Singapore by Justin Sun, a young web entrepreneur who was once a representative of Ripple.

Justin SUN, founder of Tron cryptocurrency (TRX)

But Sun is not the only developer of the platform. Although it is open source and everyone can contribute, the Tron platform is supported by an organization: Tron Foundation. This foundation is located in Singapore and has no profit motives. The electronic money associated with Tron is called the Tronix (TRX).

Tronix (TRX) is the cryptocurrency from the Tron blockchain

Good to know : Justin Sun is a graduate of the prestigious Hupan University created by Jack Ma, the founder of Alibaba.

What is Justin Sun’s goal?

Tron has set himself the main goal of removing intermediation on the digital content market. Justin Sun’s goal is to “Decentralize the web”. It aims to directly connect content producers and consumers who can pay for their sale on the platform using TRX. Tron wants to be a Peer-to-peer distribution network between creators and the public, whatever their geographic location, without going through trusted intermediaries.

At its inception, Tron had 100 billion TRX tokens. An ICO was then organized, which led to the sale of 40% of these tokens. The rest was distributed to the TRON foundation (35%), the TRON application called Peiwo (10%) and finally the rest for private offers.

How to invest in Tron?

Tron constitutes a open platform. As long as they have Tronixes, anyone can sell or buy content on Tron. The network has not planned to mining (the process allowing to solve a computer calculation materializing a proof of work), but you can however gain TRX by providing network storage space : this is called the “Proof of Storage” ((Proof of Replication in English). You can also buy TRX directly on a purchase or exchange platform. Visit our page to find out which platform to use.

Several platforms allow the purchase of TRX

Another very profitable means of investment in the Tron is to block TRX. This type of investment exploits the network’s consensus protocol called delegated proof of stake or DPoS. When TRX units are blocked for a given period of time, they generate “TRON POWER”. In proportion to the number of TRON POWER held, the holder obtains decision-making power (vote) regarding the future development of the network. This helps encourage long-term TRX ownership.

The deployment of Tron’s ambition follows a predetermined roadmap. This “roadmap” provides for an evolution over nearly 10 years of the project divided into several stages:

  • The sentence Exodus which started in August 2017 and ended in December 2018;
  • A second phase Odyssey which runs from January 2019 to June 2020;
  • A phase Great travel covering the period from July 2020 to July 2021;
  • A project Apollo which will be deployed from August 2021 to March 2023;
  • A phase Star trek online game development from April 2023 to September 2025;
  • One last step Eternity marking the full deployment of the project in September 2027.

Advantages of the Tron platform

What could increase the value of Tron?

Tron remains very promising for the users who will adopt it:

  • It has been well thought out, even in its smallest details;
  • The project is the result of the work of influential people ;
  • It offers you the possibility to sell or buy digital content directly without intermediary ;
  • The project is positioned on a market worth several billion dollars with very good forecasts for the years to come.

Did you know ? According to a study by Futuresource Consulting (a company specializing in market research), the online entertainment market is expected to reach $ 439 billion in 2021. This represents a growth forecast of 17% over the period 2018-2021.

Disadvantages of Tron

What are the problems with this project, Tron?

As main weaknesses of the project, we can quote that:

  • The project is based inter alia on the protocol of proof of delegated stakes (DPoS) whose safety remains to be proven;
  • There is still a long time to wait before seeing the last phase of the network.

Conclusion

Tron is a blockchain solution that shakes up the habits and interests of large centralized management companies for digital content and online entertainment. However, even if it was very well thought out by its creator Justin Sun with a gradual deployment over a period of almost 10 years, the project remains based on a protocol which has yet to prove itself.

In short, Justin Sun wanted, through his Tron platform, to set up a blockchain ecosystem that facilitates the production and dissemination of content. Pending the full deployment of the platform, some believe that Tron will surpass Ethereum in 2020.

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