Tron (TRX) is a third-generation blockchain-based decentralized content entertainment protocol created in September 2017 by Justin Sun, CEO & Founder of Tron Foundation, a highly decorated entrepreneur, labeled as one of Asia’s Forbes 30 under 30 and known as a protege of Jack Ma, CEO & Founder of the multi-billion Dollar Alibaba Group.
Tron borns to change the way entertainment is shared, consumed, and allows you to develop, deploy and store smart contracts and decentralized applications. Tron network aims to leave the rights of fair earnings into the hands of the content creators, as opposed to the current models of big traditional social media industry platforms such as YouTube or Facebook that often take the majority share of any advertising revenues and or do not provide any earnings to content creators at all. And most importantly, the content creators always own the rights to their content. This set of characteristics make it a very versatile network ensuring that plenty of applications and use cases are available for the blockchain and its native token (TRX).
This is possible by using a combination of blockchain and P2P technology. TRX is the unit of account and is often known as Tronix. TRX uses Lamport Digital Signatures which makes it quantum-resistant and future proof. It also uses zero-knowledge proofs which help to maintain privacy for users. Tron launched their main net on June 25th when they migrated all of their ERC20 tokens into fresh Tron blockchain tokens – this day will always be known as Tron independence day.
The driving force behind any cryptocurrency and blockchain network is its usefulness and consequent mass adoption, and there is still a long way to go regarding crypto adoption, we have to add to the equation the fact that a large part of consumers and content creators are still crypto phobic.
Besides adoption, and considering its objectives, Tron faces fierce competition, not by other establishes crypto platforms like Bitcoin or ethereum but by the most prominent giants that control the bulk part of the content industry’s traffic such as Google Play, Instagram, YouTube, and Facebook. Not an easy task, these platforms won’t readily welcome any competition!
On January 2018 allegations surfaced about Tron’s white paper being plagiarized from IPFS and FileCoin, but Justin Sun did some damage control through his Tweeter account by arguing that the lack of references (among other issues related to the white paper) resulted from translation errors. This is old news in the crypto sphere and while there was some damage to the public’s perception, it’s been mostly irrelevant so far.
Meanwhile, Tron purchased BitTorrent a well-known software company, thus creating the BitTorrent Token (BTT) the latest hype in 2019, after selling out on Binance in under 14 seconds.
BTT represents a TRC-10 utility token based on the TRON blockchain that could allow content creators to connect with their audience, earn and spend digital currency without a middleman. According to their website, BitTorrent (BTT) tokens can be bid in exchange for faster downloads or stored in a wallet built into the BitTorrent client. Both BitTorrent and parent company TRON share a vision of a decentralized internet without barriers.
BitTorrent is also airdropping free BTT tokens to TRON (TRX) holders. BTT airdrop will start on February 11, 2019 and will go on for the next 6 years till February 11, 2025. The BTT tokens will be distributed automatically, and there’s no minimum TRX required to qualify for BTT airdrops.
The following wallets and exchanges will support the airdrop: Kucoin, Binance (one of Tron’s major ally), OKEx, Huobi, Bithumb, UPbit, gate.io, TrustWallet, Bitpie, Cobo, Bibox, Cointiger, ABCC, WazirX, Atomicwallet, DragonEx, CoinEgg, MBAex, Vena Pi, Livecoin, Ellipal, BitForex, Atomicwallet, Tokenomy, Coinsuper, Bitrue, FCoin, Bit-Z, and Tronscan. For more information, including all future airdrop dates, go to this Medium article.
Final Considerations Regarding Tron
Tron’s value resides in conferring people the possibility to send, download, upload, retain, share or store all kinds of content. Although facing competition Tron is a strong infrastructure and everything indicates that in due time and adoption Tron might become a valuable asset, as well as BitTorrent Token.
If you’re interested in becoming a Tron investor, this could be the right time to get in the game. Always remember that you need to carry out your own research and keep up with Tron’s news to make an informed choice. If you do not wish to invest right away feel free to use my referral link to the best Tron faucet out there, start collecting Tron and after withdraw your first batch run for that airdrop.
Will Tron circumvent the giants and find effective and creative solutions in this unequal struggle? What’s your opinion?
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing in any cryptocurrency.