The internet is no longer fully decentralized, and it has even become more centralized than the old forces like newspapers and magazines. TRON aims to revert the Internet to its original decentralized state, by empowering users to maintain full ownership and control over the data they share online and providing them with a blockchain-based content monetization system. (1)
TRON protocol is the blockchain’s entertainment system of free content (texts, pictures, videos, and broadcasts) made by participants, in which TRX, TRON’s coin, is circulated. Its native economic system enables an one-on-one interaction between providers of digital entertainment content and users. Therefore, content providers will no longer need to pay high channel fees to centralized platforms like Apple’s App Store.
The platform will have the following infrastructures: Content platform, Social network, Digital currency bridge, payment network and autonomous ecosystem. In the TRON system, content producers can have access to TRX, the TRON coin paid by fan users for premium content. They can also obtain influence and power by creating high-quality contents, thus directly gaining TRX rewards given by the system. The miner earns TRX by providing storage for clients and the clients spends TRX to store content on their storage data. TRON gives positive contributors the privilege to send advertisements to the whole network to incentivize (limited in number).
TRON platform utilizes 3 different coins to interchange the values:
TRONIX (TRX): The basic unit of accounts in TRON’s blockchain.
TRON Power (TP): Users can acquire TP by locking their TRX. TP has voting rights, which means TP holders have more privileges in the ecosystem. As time passes, more TP rewards will be given, but it’s not tradable.
TRON 20 Token: Content owners can freely issue their digital assets, while others can buy these digital assets and enjoy the benefits and services brought by the constant growth of data contributions. On the basis of TRON’s blockchain, the community will also support development of DAPP, the decentralized exchange, market forecasts, digital sources, and other ecological projects.
TRON supports various kinds of blockchain networks and smart contract systems, including Bitcoin, Ethereum, EOS, Qtum, and other public blockchain smart contracts.
While the initial TRON platform is currently up and running, they are expecting to take 8-10 years to implement the entire TRON system, a large program involving six steps:
1. Data Liberation: A mechanism of upload, storage, and distribution which is based on peer-to-peer and distributed content. (8-2017 to 12-2018)
2. Content Empowerment: Economic incentives, empowerment, content ecology and blockchain technology will create a fully competitive economic mechanism with fair returns for content creation, distribution and dissemination. (1-2019 to 6-2020)
3. Personal ICO: Users have to option to “freely distribute digital assets in the form of an ICO”. As a result of this, other platform users can enjoy the benefits and services that are delivered via the “continuous development of data contributors by purchasing digital” (7-2020 to 7-2021)
4. Free Movement of Value: To reach the goal that each content producer in the TRON system can issue their own tokens, the system must have a complete solution for decentralized trading, thus realizing the values. (8-2021 to 3-2023)
5. Gaming of Decentralization and Market Forecast: Traffic on the TRON network will make it possible to build an online gaming platform for decentralization. Developers can freely build online gaming platforms through TRON, providing fully autonomous games and predicting market functions. (4-2023 to 9-2025)
6. Decentralized Game: Developers can freely set up game platforms through TRON, achieve crowd funding for game development, and common investors can contribute to game content creation. (4-2023 to 9-2025)
TRON has established the Singapore-based Tron Foundation, a non-profit organization that mainly engages in operating the TRON network in the principles of openness, fairness, transparency and supporting TRON’s development team. Members of the Foundation will never partake any distribution of profits.
CEO: Justin Sun, TRON is an idea of Justin Sun , who has been hailed as “the next Jack Ma”(Alibaba founder). (2) Listed in the Forbes Asia “30 under 30” twice, named a “Global Shaper” by the World Economic Forum and is a former Ripple representative in China. (3) Sun founded the Peiwo app, China’s largest audio content community with over 10 million users , an app aspiring to become China’s Snapchat. Peiwo application will be the first application which uses TRON. In particular the smart contracts will be used to regulate the livestreams. It’s being demoed right now. (4) CTO: Lucien Chen, served in many first-tier Internet companies, such as Netease(NASDAQ:NTES) youdao, Tencent(00700. HK), Qihoo 360(NASDAQ:QIHU) and SM search (Alibaba P8 +). (5)
Backers and partnerships
TRON has some impressive (financial) backers: Binshen Tang, Founder of Clash of Kings with over 10 million MAU (Monthly Active Users) worldwide; Dai Wei, Founder and CEO of OFO bike, one of the largest sharing economy companies in China; Jihan Wu, CEO of BITMAIN; Chaoyong Wang, Founder of China Equity Group, one of the largest investment groups in China with market value of over $2 billion; Weixing Chen, Founder of Kuaidi (Chinese Uber). (6)
FBG: FBG is a digital asset management firm in blockchain-based capital market. (7); Bixin: A company that provides a host of Bitcoin-related services. (8); Gifto: Leverages TRON’s underlying technology to help facilitate massive transactions of users using virtual gifts. (9); ZAG-S&W: ZAG-S&W is a leading international law firm focusing on corporate and commercial law (10); MLG Blockchain consulting: global blockchain development and consulting firm headquartered in Toronto. (11)