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Sirwin

Tron (TRX) what it is and how it works

By Stat1c | NewCrypto news | 21 Apr 2020


What is Tron (TRX)

TRON (TRX) is a decentralized blockchain-based protocol that aims to build a worldwide content entertainment system with blockchain and distributed storage technology.

TRON aims to create an entertainment platform that allows content creators full control of their projects.

Think of a decentralized combination of Netflix, YouTube and the App Store.

The TRON Token

There are three different tokens involved in the TRON project: TRONIX, TRON Power and the TRON 20 Token

TRONIX (TRX) - This is the token for the purchase and exchange on the platform. It is required to access TRON and is also used to buy and sell content on it.

TRON Power (TP) - This is essentially stuck on TRONIX. Users volunteer to block their TRX and receive TPs in return.

TP is not negotiable and would obviously be a long-term commitment. It is similar to Steem Power used on the Steemit platform.

TRON 20 Token - allows content creators to create and release their own tokens, similar to Waves and NEM.

The platform

Will content programmers be able to enter the? dAPP on the platform and make them available to the general public for purchase.

The contents will be music, films, images, games, etc., as in the normal stores we know today, with the particularity that the dAPPs will turn on Blockchain. Transactions will be completed using the TRX token, without any commission, but through Smart Contract.

The TRON system will also offer incentives to content creators to encourage them to publish dAPPs on the platform and help stimulate the TRON ecosystem.

What problems does TRON solve?

Censorship and Centralization - Internet censorship and restrictions are widespread in many countries.

In China, for example, people are unable to access Facebook or Snapchat, while the Iranian government has blocked access to Instagram and Telegram. The decentralized nature of the TRON project? it means that it should be free from censorship or interference.

Commissions for the sale of dAPPs - A problem encountered by the creators of APP, when trying to distribute their content, are the commissions applied by multimedia platforms such as the App Store and Google Play.

Through the TRON platform, content creators will have exclusive control of their product and direct access to their consumers, without the involvement of intermediaries. Therefore these costs will be significantly reduced.

TRX Token Analysis

Here we have to make a premise. Investing in Cryptocurrency is not the same thing as a traditional investment.

When you buy shares in a company, you buy a property. As the company increases profits, the share price will rise. and the value of the investment will also increase.

With most Crypto Currencies, tokens do not represent the company's shares.

Therefore, it is possible that the company is successful, but the token prices may decrease if they are not correctly connected to the use of the platform.

Supply and demand are the only two factors that determine the price of a Crypto Currency.

What are the sources of demand for TRX?

Users will be required to hold TRON (TRX) tokens to access the platform. All transactions will be completed using TRX.

Since more content will be present exclusively on the platform, users who want to purchase dAPP will have to use TRX. If all this process works, the demand for the token will increase, increasing the value of the Token itself. 

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Stat1c
Stat1c

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