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A DETAILED DESCRIPTION OF Tron (TRX)
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Tron (TRX)
Tron (TRX) is a decentralized content entertainment protocol which is based on blockchain and was created in September 2017 when Justin Sun, CEO & Founder of Tron, created the Tron Foundation. The entire idea of the Tron network is to change the way that entertainment is shared and consumed leaving the rights of fair earnings into the hands of the content creators.
The idea of compensating content creators fairly has been a lost cause in the traditional social media industry. Platforms such as YouTube often take a majority share of any advertising revenues, and platforms like Facebook do not provide any earnings to content creators at all. Using a combination of blockchain and P2P technology, the Tron platform aims allow users to retain a fair value for their content they create and most importantly, the content creators always own the rights to their content. TRX is the unit of account on the Tron network and are often known as Tronix. TRX uses Lamport Digital Signatures which makes it quantum resistant and future proof. It also uses zero-knowledge proofs which helps to maintain privacy for users. Tron launched their mainnet on June 25th when they migrated all of their ERC20 tokens into fresh Tron blockchain tokens - this day will always be known as Tron independence day.
The founder of the Tron network, Justin Sun, is already a highly decorated entrepreneur. After being labelled as one of Asia’s Forbes 30 under 30 and being known as a protegee of Jack Ma, CEO & Founder of the multi-billion Dollar Alibaba Group. However, things have not always been easy for Sun in cryptocurrency as he was accused of plagiarism regarding the Tron whitepaper when it was initially released. However, since then, Sun has come forward and cleared up the accusations.
The idea of compensating content creators fairly has been a lost cause in the traditional social media industry. Platforms such as YouTube often take a majority share of any advertising revenues, and platforms like Facebook do not provide any earnings to content creators at all. Using a combination of blockchain and P2P technology, the Tron platform aims allow users to retain a fair value for their content they create and most importantly, the content creators always own the rights to their content. TRX is the unit of account on the Tron network and are often known as Tronix. TRX uses Lamport Digital Signatures which makes it quantum resistant and future proof. It also uses zero-knowledge proofs which helps to maintain privacy for users. Tron launched their mainnet on June 25th when they migrated all of their ERC20 tokens into fresh Tron blockchain tokens - this day will always be known as Tron independence day.
The founder of the Tron network, Justin Sun, is already a highly decorated entrepreneur. After being labelled as one of Asia’s Forbes 30 under 30 and being known as a protegee of Jack Ma, CEO & Founder of the multi-billion Dollar Alibaba Group. However, things have not always been easy for Sun in cryptocurrency as he was accused of plagiarism regarding the Tron whitepaper when it was initially released. However, since then, Sun has come forward and cleared up the accusations.
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