What is TRON Cryptocurrency: Features, Mining
TRON is a blockchain-based decentralized protocol to create an entertainment system around the world with free content thanks to distributed storage technology and blockchain. Using the TRON protocol, users can publish and store data. Using a standalone decentralized form, they can choose how to distribute data. The form also allows you to subscribe and push content by issuing and then distributing digital assets.
The very first TRON-compatible entertainment app will be the Peiwo app, with over 10 million users.
What is the TRON Foundation
The foundation is based in Singapore and adheres to the principles of Sir Tim Berners-Lee. He argues that the protocol should be used to help people, not profit for small groups. The Foundation is a nonprofit organization that operates the TRON network following its key principles of transparency, fairness and openness. Any “profit” that the fund earns is considered excessive and is retained for subsequent use in the form of events and activities. Members never participate in or distribute profits from it.
What separates TRON from centralized protocols
Since this is a decentralized content protocol, the project has several important differences from centralized ones. The data is uncontrolled and free, allowing users to store, download and distribute videos, audio, images, characters, etc. without restrictions. It also provides the ability to create content, which means that users receive digital assets by delivering and distributing content, so the ecology of content is evolving.
What are the core values of TRON
In order to support the project in accordance with its vision of developers, the protocol has several basic values that must always be respected. The users who create the data will always have the fundamental right to own this data. This is consistent with the idea that the Internet is perfectly decentralized, both of which are inspired by Berners-Lee.
TRON also says that anyone who contributes to the environment is entitled to a profit of proportional value. In addition, all types of contributions have the same value and time invested to ensure equity. Since the project focuses on people instead of making money, the content should be consistent with this goal. The goal should be to share quality content and art so that others can enjoy and appreciate.
Most importantly, the main goal of TRON is to provide services to people in general. Instead of trying to make money, like most other blockchain-based protocols, the project simply wants to serve people who want entertainment through viewing content. Thanks to his success, everyone who participates in TRON will win, which is a sufficient advantage without requiring financial benefits.
TRON is a cryptocurrency whose token is based on Ethereum based on the ERC20 standard. Therefore, the token is very versatile and can be stored on almost all cryptocurrency wallets that support ERC20 tokens. Before you begin, you need to carefully study the information about the store and choose the appropriate TRON wallet.
How to mine Tron
The developers of the platform did not provide for mining the Tron cryptocurrency, since they had already created all the necessary coins. In addition, the creators talked about the scheme according to which their cryptocurrency will work:
- 40% of the total number of coins will go on sale to enable the project to develop further.
- 15% of the remaining amount is allocated for acquisition by investors. Investors are players who, after the main sale of coins, will be ready to purchase tokens further.
- The remaining funds are “frozen” and remain in the accounts of the company owners.
Justin Sun explained that perhaps mining will be provided in the future when the company gains the necessary popularity.
What is TRONIX
TRONIX (TRX) is the currency for TRON and forms the base unit that all accounts in the project blockchain use. All other tokens get their value from the TRON value. If the user locks their TRONIX, they can get TRON Power, which is essentially blocked by TRON. TP is a type of TRONIX that has the right to vote, giving owners additional privileges to those who have regular TRONIX.
Prospects for the development of TRON (TRX)
The idea of creating a decentralized platform for processing and storing entertainment content is uniquely relevant. Each user has the opportunity not only to find the necessary information, film, music, etc., but also to offer site visitors to evaluate their own creativity. In addition, for any active actions, a person can receive a reward in the form of cryptocurrency.
Many experts predict success for the TRON project if all of the company’s attention is focused on the entertainment sector. Speaking of TRX cryptocurrency, its value can increase several times, so investing in this digital asset can bring significant profit. However, one should keep in mind the risks that are inherent in all projects.
The main competitors of the company
The project has two main competitors – Qtum and Ethereum. Each competing company has its own advantages, for example, the first has a more advanced platform in terms of technology, and the second wins due to smart contracts and fame.
Analysts are confident that the Tron platform will still have to fight for its users, since the developers are aimed at a specific audience. However, the Throne does not have special advantages that would distinguish the project from its competitors, which could become a serious problem in the future.
TRON meets the needs of those seeking entertainment who want to take advantage of the blockchain. The only drawback of the project is the long-term nature of the roadmap. Although, this also has the advantage of ensuring that the team gets everything right the first time, before the release, and users do not experience any problems. Upon completion, and even as you progress through the various stages, TRON will prove to be useful for those who are looking for a decentralized protocol to help with online entertainment.