The first ever cryptocurrency Bitcoin was introduced to the world
The first ever cryptocurrency Bitcoin was introduced to the world in 2008, and since then hundreds of cryptocurrencies have flooded the market. Some of them were able to make a mark like ethereum, litecoin, Maker and many disappeared into the oblivion. One cryptocurrency which has gained quite the attention in recent months is TRON. The TRON cryptocurrency was first introduced to the world through the Initial Coin Offering (ICO) in September 2017. A non-profit organization based in Singapore launched the project.
TRON is an open source blockchain based protocol primarily aimed at the digital entertainment industry. People and enterprises can make use of the TRON network to leverage their digital content and bind it with a smart contract for the perfect execution.
The TRON cryptocurrency or the Tronix (TRX) token has been specifically built to transfer the power and monopoly held by few tech giants. The white paper published by the company makes it clear that the TRX token is designed for the betterment of services on the platform rather than another token for profit-making from the trade market.
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The Idea Behind the Creation of TRX
The war over data handling and misuse by the tech giants such as Google, Apple, and other few players is the main inspiration behind the project. Using TRON’s network people can get access to their favorite content at a cheaper rate without having to bear the cost of mediators. When implemented correctly, the source of entertainment, a producer would receive the direct returns from the consumers.When compared to other cryptocurrency platforms, TRON is capable of handling various blockchain networks and execute smart contracts for different kinds of cryptocurrencies such as Qtum, Ethereum, EOS. TRON also holds the distinction of first smart contract blockchain protocol that protects the interests of 10 million wallet holders.
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Different Stages of TRX
The TRON blockchain has been developed in a way that it would propagate to different stages when fully grown. Currently, it is on the Exodus stage, and it would incorporate five more phases. Let us look into each period in depth and what the different periods would bring to the table.
Exodus
The current stage is the primary form where the main concern is to provide simple file sharing on a decentralized basis. The Exodus phase works similar to the IPFS (a peer-to-peer hypermedia platform that is capable of making webs faster). The current stage does not allow the TRON platform to leverage any other blockchain platform on the network.
Odyssey
The second phase on the network would allow the incentivization of the files present on the system. It would work on the principle of Proof Of Stake (PoS), where the users would get their share of incentive instead of traditional factors like views and clicks. The incorporation of tipping services would reinforce the authenticity of the content on the network. The problem with the current form of measurement through clicks is that clicks can be generated on a bulk through machines. Thus, the ratings of content on the network would be genuine and authentic.
Great Voyage
The great Voyage phase would induct personal ICO, which would be based on the advantages of blockchain network. The three principle objective of the stage is,
- Income payment
- Dividend management
- Management of supporters
The goals as mentioned above for the period would be made possible through the creation of a personalized blockchain network for TRON. The company aims to turn the ‘fan economy’ to ‘fan finance’ through its TRX cryptocurrency.
Apollo
The fourth phase on the network is aimed at solidifying the Great voyage phase. Similar to the Great Voyage phase, Apollo phase would also provide the provision for individual ICO just like the Ethereum platform. The period would lead to the creation of tokens which would be used for the trading on the personalized platforms. This practice would eventually increase the economic vitality by many folds. The phase would also see the implementation of a sophisticated security network which would negate the malicious websites, Sybil attacks, and hack attacks on the system.
Star Trek
The fifth phase on the TRON network would create a decentralized gaming platform with different functionalities such as free gaming and predicting functions. The current gaming market stands at a whopping $450 Billion; the Star trek mode would allow the TRON network to gain some market capitalization.
Eternity
The final stage of the cryptocurrency would be aimed at fundraising and monetization depending on the growth of the TRON network. At this stage, investors would be able to put their money on big corporate games through smart contracts.
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Advantages of TRX
Decentralized Data sharing
The TRON blockchain network would liberate the data industry, how people use data today and monopoly of a few tech giants and their manipulation. With correct implementation, the creator would hold the sole authority to the data, and they can monetize it using the TRON network.
Personal ICO
Personal ICO can help people create an individual digital asset, be it entertainment content or any other form of data.
Gaming and market forecasting
With the TRX currency, there is provision for a distributed digital asset which would allow market forecasting and gaming for the investors.
Final Thoughts
Tron as a platform is looking forward to revolutionizing gaming experience through the blockchain implementation. The TRX currency is being created only as a token on the platform and development takes place in certain stages. The aim of the token is no the trade market, but the blockchain eco-system itself.
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