Review and Future of Tron Network

Review and Future of Tron Network

July 8, 2021

At the present time, if you intend to do anything on the network, whether it is seeing a movie, making a payment, trade, or simple browse, you’ll almost certainly have to count on centralized platforms, such as blockchain technology and particularly Tron network. This has a number of drawbacks, including privacy problems, data manipulation and […]

At the present time, if you intend to do anything on the network, whether it is seeing a movie, making a payment, trade, or simple browse, you’ll almost certainly have to count on centralized platforms, such as blockchain technology and particularly Tron network. This has a number of drawbacks, including privacy problems, data manipulation and misinformation, and the possibility of censorship. However, if TRON achieves its high ambitions, this may not be the case for much longer. 

What is Tron?

Tron is a decentralized blockchain-based network that seeks to create a free, worldwide digital amusement system using dispersed storage technology, allowing for simple and lowest possible costs digital content distribution. The Tron Organization, located in Singapore, launched Tron in 2017. It is led by CEO Justin Sun and has an in-house developer that comprises well-known technological figures. Justin Sun created this Network in September 2017. Sun is a digital businessman who also runs the Tron Organization, a non-profit system that supports the creation and expansion of the TRON network. It activated its main chain in June 2018 after raising $70 million in an initial coin offering (ICO). Forthwith, it has risen to become in the list of top 20 cryptocurrencies in terms of market value, and then a brief stay within the top ten.

Tron seeks to eliminate the intermediary between the producer and the user by utilizing blockchain and peer-to-peer (P2P) system technologies to fill the gap between both sides, content providers and content users. The end outcome is a lower total cost for the customer and a better complex for the content provider via direct refunds, resulting in a win-win position. As an example of a real-world implementation of the Tron network, think about Netflix, an online entertainment business that provides on-demand material. The services are consolidated and controlled by a single body. To view a specific on-demand movie created by a group of emerging fans and hosted on the Netflix system, perhaps a person wants to register on Netflix and pay a fee. Netflix takes a part of the subscription price for broadcasting the film on its network and pays the rest to the filmmakers. The intermediary frequently takes the lion’s share.

Tron is a decentralized, distributed sharing and storing system that copies this business strategy on a general blockchain system, making it more influential with the best possible profits for the lowest possible costs. Its blockchain-oriented system promises to cut out the intermediary, such as Netflix in the previous example, by allowing anybody to host digital entertainment material. The worldwide audience can pay the content providers directly to get access to the material.

Tron emergence, decentralized network and distributed storing technologies also seek to identify a major issue – the problem of a few numbers of strong businesses dominating the network and its data – by levelling the playing field.

The Purpose of Tron Emergence

Tron was created with a specific goal in mind: to assist content producers to get better compensated for their labor. Because of the current structure of the media business, a few large firms, such as Facebook, and YouTube, have a significant amount of control over what material is watched and published on their platforms. They not only have complete control over what may be viewed, but they also get the most of the revenue earned by the media. The creators, on the other hand, only get a small portion of the profits. The platform was created to address this issue. It is possible to allow visitors to directly incentivize content producers via the Tron network and the TRX tokens by eliminating the middleman, as it were. As a result, rather than being held in part by a huge corporation, the media is owned entirely by the author.

Tron’s Future Possibilities

Tron is a large-scale project with a number of possible milestones in the next years. Exodus is the company’s current product, which can refer to a free network for peer-to-peer content sharing and storing. Exodus does not currently employ blockchain technology, instead opting for a web-based case system protocol that provides a shared case system. The current phase is anticipated to last until December 2018. The second phase, dubbed Odyssey, is set to launch in January 2019. Odyssey, which will make use of blockchain technology, will include financial incentives to encourage content production and sharing on Tron. 

Odyssey intends to build the incentives providers on a technique that will rely on consumer communication and participation with the material, rather than the usual methods of measuring clicks and views of the information being accessed. It may be tied to a “tipping” scheme – a reward depending on how good the user thought the material was. Consider listening to a street-corner performance by a certified guitar musician. You enjoy the first tune and go in closer to hear the entire performance. When the street performer’s show is done, you pay him based on to what extent you took pleasure from his/her work – or tip him extra to hear his next engagement. Tron’s reward system could be identical in that you may see the first several previews without any costs or for a modest charge, then upgrade to the full premium versions if you enjoyed the teasers.

The upcoming stages, including Great Voyage (mid-2020) and Apollo (mid-2021), are intended to let content producers establish their trademarks, launch personal initial coin offers (ICOs), and distribute individual assets. Tron will resemble Ethereum-approach blockchain-based digital system in its later phases. Likewise, Tron anticipates two extra phases in the future, dubbed Star Trek (mid-2023) and Eternity (late-2025), in which users can construct their own autonomous entertainment and prediction markets systems, as well as raise cash.

To conclude, Tron is a potential venture in the blockchain arena because of its well defined deep strategy with timeline benchmarks, as well as the growing popularity of online media with the guarantee of lower prices. Its chances are further bolstered by the support of wealthy and well-established Chinese investors.

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