Tron (TRX) is a blockchain-based decentralized platform that aims to create a global digital content entertainment system. The platform aims to revolutionize the way digital content is created, distributed, and consumed.
Tron’s goal is to create a decentralized platform for sharing and storing digital content, including music, movies, and games, without the need for intermediaries. By doing so, Tron hopes to empower content creators and reduce costs associated with content distribution, allowing artists and developers to earn more from their work.
Tron also features a decentralized application (DApp) platform that enables developers to build and deploy their own decentralized applications on the Tron blockchain. The platform’s smart contract functionality provides developers with a secure and transparent environment to build and launch DApps.
Overall, Tron’s vision is to create a global digital content entertainment system that is accessible, transparent, and affordable for all.
Who Are the Founders of Tron?
The Tron blockchain was created by Tron Foundation, a Singapore-based organization that is currently headed by Justin Sun. Prior to creating the Tron Foundation, Justin Sun founded Peiwo, an app that aspires to be the Asian Snapchat. This app got Sun into the 2017 Forbes 30 under 30 list.
Justin Sun was also the former Chief Representative of Ripple in China and a graduate of Hupan University.
Tron came about after a successful ICO which raised over $70 million in September 2017.
The Supply of Tron (TRX)
TRON has a total supply of just over 100 billion tokens. And at the time of writing, about 91.2 billion of these are in circulation.
When a token sale was held in 2017, 15.75 billion TRX was allocated to private investors, while an additional 40 billion were earmarked for initial coin offering participants. The Tron Foundation was given 34 billion, and a company owned by Justin Sun got 10 billion.
This means that 45% of TRX supply went to the founder and the project itself, while 55% was distributed among investors. Critics argue that this is a much higher ratio than what has been seen with other cryptocurrency projects.
What Makes Tron Unique?
Tron is unique because it is a decentralized platform that focuses on creating a global digital content entertainment system. It is cost-effective, has smart contract functionality, and has high scalability, allowing it to handle a large number of transactions quickly and efficiently. Tron’s combination of features creates a compelling platform for developers, users, and content creators.
How Is the Network Secured?
TRON employs a consensus mechanism known as delegated proof-of-stake.
TRX owners can freeze their cryptocurrency in order to gain Tron Power, which allows them to vote for “super representatives” who serve as block producers. These block producers receive TRX rewards in exchange for verifying transactions, and these rewards are then distributed to those who voted for them.
According to TRON, this approach allows its blockchain to achieve higher levels of throughput.