TRON (TRX Token) Overview
Described by one commentator as “a decentralized combination of Netflix, YouTube and the App Store,” the TRON (TRX) blockchain project is complex, ambitious in its reach and could well become a major player in the entertainment industry.
In a nutshell, TRON is rolling out an online entertainment blockchain where content creators can post their offerings for storage and purchase, with the entire TRON decentralized ledger accommodating said storage and distribution and payment for digital entertainment.
Both a platform and a digital currency, and similar to NEM and Waves, creators can also employ TRON to issue tokens upon releasing an offer. Importantly, TRX has an inbuilt ability to act as a transfer currency between platforms, tying into other entertainment platforms out there. The overall build is complex, detailed in innumerable directions and clearly very ambitious in its anticipation of becoming a go-to portal of online entertainment.
The TRON offer is a tremendous facilitation for producers, who can develop, store, share and invoice all on a single platform. Each of these aspects contain their own issues, but TRON is seeking to smooth them all by enabling convenient, one-click transactability across all aspects of the production and release of digital entertainment on its platform.
Mining of the coin is also ironed-out in-house, employing a technology called Positron. Built into the codebase, mining of the coin is set to be easier and more effective than, say, Bitcoin mining.
What Issues Face Producers of Online Content?
CEO and founder Justin Sun wants to address the loss of creator control users experience going through Google Play or other outlets. Not only that, the monetization of creators’ sites and content is an often varied and difficult route for many. In today’s marketplace, almost every snippet of monetized online content is funneled through the giants like Google, Apple, Youtube, Apple and Spotify.
Acting as intermediaries, these huge conglomerates skim off all of the videos, websites, blogs and music posted by creators. Providing the platform to host creators’ work gives them a unique advantage to profit from a percentage of all of the views, likes, clicks, streams and listens. More onerously, these entities maintain complete control over how much they’ll pay the producer.
The clincher is that along with such unseemly power comes their ability to censor and control anything they deem unsuitable to them, thus limiting creativity and exercising tight control over the online arena.
Such centralization of digital entertainment content as it currently stands is ripe for addressing with blockchain technology. With centralization, prices generally go up for end-users while control and revenue diminishes simultaneously for creators. Very much like banking becomes a one-sided affair, so the “non-profit” TRON seeks to prevent the same scenario in online entertainment.
The TRON Solution
Bringing the internet “to a decentralized state” is the aim of TRON, applying blockchain technology. By adopting an ostensibly non-profit structure, tron is enabling all aspects of online content great and small. There has been some controversy over the plagiarism alleged in certain sections of the original Chinese version of the TRON white paper. While the company has attributed this to misinterpretation or bad translation, it is also clear that there is some indecent haste in the rollout of TRON.
While it may be understandable that the company has adopted a marketing-first approach and is all bling and bravado – an approach that seems to be onboarding some keen and worthwhile players – it does reflect poorly on such a detailed and challenging concept and associated whitepaper that there are sections copied verbatim from other ICO whitepapers.
In the final analysis, it seems most reasonably that a contributor cut corners on the white paper and due to language barriers and separate roles, it slipped through unnoticed. Although it puts egg on the company’s face, it doesn’t appear to be a core corruption of their integrity and capabilities.
By way of user case study, a video producer may post a short video they believe has commercial value on the TRON network. Unlike having to operate within the strict content guidelines enforced by YouTube and other typical outlets, the producer is free to package his wares as he sees fit. He then uploads and advertises his offering on the TRON network.
He can sell views as snippets or the entirety of the video, having linked into social media platforms to publicize his offer too. On the network, his goods are stored, positioned, sold and invoiced for with an autonomy long ago lost on the regular channels. A truly one-stop shop for content creators, TRON manages to keep a creator within its network with zero stifling and unparalleled freedom of use. That the platform has addressed all possible needs of content creators enables the generation of a new ecosystem, the TRON platform rolling out across the globe.
The TRON Team
Having been approved by Singapore’s Accounting and Corporate Regulatory Authority (ACRA) and being subject to the country’s corporate regulations, the company has posted an outline of the company structure in its whitepaper.
Unusually for an ICO, there are no personal details of team members. Even the exact details for VCs as to how to access the ICO are not readily available, at least from company literature. We do know that the token sale commences on August 31, 2018 and ends on September 2, 2018. running on the ERC-20 token platform, 1 TRX will cost $0.0019. the fundraising target is $ 70,000,000. a total of 100,000,000,000 tokens will be minted, with 40 percent at play in the ICO.
The image below depicts some of the investors into the TRON ICO. A lot of these names are well known in the cryptocurrency industry which is part of the reason the TRON (TRX) ICO exploded out of the gates and continues to be a much talked about cryptocurrency online.
TRON TRX Conclusion
Although perhaps unusual in its presentation, the facts remain that the white paper is comprehensive, ambitious and – the clincher – TRON has access to around 10 million users of its Peiwo app. The company has a marked advantage in launching an ICO with such a large, established user base.The home market is massive and the projected potential reach of TRON even bigger.
The ICO is also indicative of a company incorporating amendments to issues faced by altcoins, their mining and application in the past. Perhaps most importantly, the TRON ICO will step into an existing and demonstrably profitable market at the outset, with a novel and appealing way of doing things. Many investors see the value, and uptake on the ICO is expected to be swift.