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Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content.
Tron was founded in September 2017 by a Singapore based non-profit organization called the Tron Foundation. It is headed by CEO Justin Sun, and has a dedicated in-house development team that includes renowned technology stalwarts. This article explores the Tron network, its workings, and its cryptocurrency Tronix (TRX).
Eliminate the Middle Man
By using the features of the blockchain and peer-to-peer (P2P) network technology, Tron attempts to bridge the gap between content creators and content consumers by eliminating the middleman. The end result is overall cost reduction for the consumer and improved collection through direct receipts for the content producer, which offers a win-win situation.
To draw an analogy with a real-world application, consider Netflix, which operates a digital entertainment service offering on-demand content. The services are controlled by a single organization in a centralized manner. One may need to subscribe and pay Netflix to watch a particular on-demand movie that may have been produced by a group of budding enthusiasts who are hosting it on the Netflix platform. From the fee charged to the subscriber, Netflix takes a cut for hosting the movie on its platform and pays the remainder to producers. Often, the lion’s share is taken by the middleman.
Tron replicates this business model on a public blockchain network and acts as a distributed, decentralized storage facility that makes it more efficient and cost-effective. It aims to eliminate the middleman, like Netflix in the above example, by allowing anyone and everyone to host digital entertainment content on its blockchain-based network. The global audience can directly pay the content creators to access the content.
In the process, Tron’s open, decentralized platform and distributed storage technology also attempts to address a major issue – the challenge of a very few, and powerful, corporations controlling the Internet and its content – making it a level playing field.
The Future Potential of Tron
Tron is an ambitious initiative that has lined up lots of potential milestones in the years to come.
Its current offering is called Exodus, the free platform suitable for peer-to-peer distribution and storage of content. Exodus is not using blockchain technology at present, but uses a special web-based file system protocol…