Tron is a blockchain-based decentralized platform and uses p2p network technology. You can produce applications and share different media types on this digital platform. In addition to being a whole network, there is a cryptocurrency named Tronix or TRX, which you can purchase. Justin Sun established the idea of Tron in 2014, and the Tron Company has supervised it since 2017. Tron provides a decentralized digital mechanism, which can complete a program by a network of public nodes. Many believe that it does not differ from the Ethereum platform. However, Tron claims to be the new generation of the blockchain system.
Justin Sun, a Chinese-American tech entrepreneur (CEO of a Singapore non-profit organization), founded TRX in 2017. Sun is also the CEO of BitTorrent, the current CEO of Rainberry, Inc, and is the creator and CEO of Peiwo.
Justin Sun has an M.A. degree in Political Economy. At 26, he was selected to attend Hupan University, making him the only millennial graduate.
TRX was founded in 2017, and they bought BitTottent in 2018, which is the biggest data-sharing platform, to realize their ambitions. The Tron team established the Tron network, and ERC-20 tokens became official tokens in the Tron network.
Tron and Ethereum
Initially, Ethereum supported TRX, but in 2018, they separated, and Tron became an independent cryptocurrency. However, it still uses the same building blocks such as decentralized applications (dApps), smart contracts, and tokens.
TRX is trying to compete with Ethereum at a higher level. Some believe that it will succeed to be even more efficient than Ethereum someday soon.
Tron Network Goals
Its objective is to host a global system for the economic sharing of digital content. So, the shared data is almost free, and no one has absolute authority in this network. It wishes to help and support content creators, especially now that big corporations control how consumers view the media worldwide. These corporations receive the majority of money made by the media. On the other hand, creators only make a small income. The platform wants to change this. But how?
Content creators can make their coins or tokens, which they can use within their dApps on the network. The transaction fee is lower than Ethereum (TRX transactions used to be free of charge). This platform removes the middlemen in the equation so creators and consumers can interact directly.
This network also supports games. So if someone played and enjoyed a game, they can pay the creator directly with their digital currency.
Tron has become a hot topic because of its ambitions, but does it have any actual strengths?
The Tron system can manage more than 2000 transactions per second, around the clock, which is a great deal. Crypto traders prefer blockchain to Ethereum since they offer cheaper transaction fees and are faster. Tron is a whole network, and besides that, there is a cryptocurrency named Tron, which you can purchase from the same network. You can keep your crypto-assets on your desktop, cell phone, or digital wallet.