Blockchain has enormous power but it has not been used much to gain absolute power yet. There are very few instances where it has turned out to be a total success. One of the most highlighted successes is the use of blockchain to decentralize and democratize content creation and content storage.
What is TRON
TRON is a decentralized operating blockchain system. It is based on a cryptocurrency, which is named TRX. The purpose of TRON is to make a platform for digital entertainment which will work without any centrally organized system. TRON was founded in 2017 by Justin Sun.
Elimination of Mediator
As blockchain is a peer to peer system, it eliminates the chances of any middleman intervening. TRON’s goal is to lessen the gap between the content creator and content consumer. Different services which take content from the producer and sell it to the consumer, charge a very high amount of money for it. TRON will help in reducing the expense which usually goes to the middleman. Instead of the mediator, the money would be directly collected by the producer of the content. This will be a winning situation for both the parties.
Decentralization of Entertainment
The question that comes into mind is ‘how TRON will do that’. If we take examples from the real world, Netflix provides the digital service for entertainment and it offers content on demand. Service of Netflix is a centralized system which is controlled by the organization. It charges subscriber money to give the services and a big chunk of money is kept by Netflix, only a small amount goes to the actual creator of the content. Then there is a kind of content creators, who produce content all by themselves and use Netflix as a hosting service for their content. Even in this case Netflix’s share is bigger than the producer.
TRON is trying to reproduce the same model of business which is based on blockchain but will distribute the content. Giving a decentralized platform to content creators, making it extremely cost effective and efficient.
Here somebody might think that Youtube does it already. YouTube allows content creators to put up their content without many checks. But the monetization of content is controlled by YouTube which takes the ultimate control over content from the creator. Advertisers pay their payment to YouTube and YouTube decides how much a content creator gets out of it.
How blockchain is used in decentralization of content
In 2018 TRON launched its app store with the name of DappHouse. A Dapp (decentralized app) is created by using ‘peer to peer’ technology and the content is broadcasted by different computers in the world. A Dapp does not use the heiricle system which means no authority or website has a power over the distribution of the content.
This TRON system which is decentralized enables content creators and consumers to do these things:
- There can be new channels which anyone can set and content creators can be part of them.
- Content consumers can use a token in order to subscribe to the content from the channel or either directly pay the creator.
- Content creators don’t have to pitch the idea to get it approved,instead they can just go ahead and make it.
- To buy the exposure on content, advertisers will be using tokens to get it directly from the content creator.
What Is TRX (TRONIX)
TRX (TRONIX) is the cryptocurrency used by TRON. It has ranking number 18 in the cryptocurrency capitalization market.
The role TRX play in TRON:
- Can be used at TRON ATM
- Credit card payments can be made
- Token which are to be used on TRON can be purchased with TRX
- TRON merchandise can bought
- You can receive TRX reward by participating in the ‘Tronics Support Plan’
- Freeze TRX and get bandwidth and energy
- BTT airdrop reward can be received
- By freezing TRX, voting rights which can used for super representatives can be obtained
TRX can not be used to buy fiat currencies but it can be stored in the wallet and can support Ethereum blockchain. TRX can be bought in exchanges of Binance and Liquid. Value of TRX has remained high since it came into being.
The Future of TRON
Tron is a determined enterprise and has a lot of goals to reach in the coming years
Its first phase with the name of Exodus, stayed through 2018. It focused on the peer to peer distribution of the content. The next phase was Odyssey which was launched in 2019. It tested the power of blockchain. It was also involved in the tests of monetary sections of TRON.
TRON is not working on the conventional views and clicks formula on the content. It directly gives the control to producers and they can control the user interaction and record the engagement coming on the content they have created. It also plans to launch a reward plan on the best performing content.
To understand the whole concept, let’s take an example of a professional singer singing songs outside a restaurant. You like his voice and song and to listen to it properly you get closer to him. When he stops singing, you give him money based on your experience or give him money to sing another song for you. TRON is working on the similar kind of incentive scheme that is very similar to this. You can watch the teasers without paying anything or a little fee. And if you like the teaser and want to watch the full content, you can pay the full fee to the producer and enjoy the full version of it.
There was one phase called ‘Great Voyage’, which was launched in 2020. In 2021 the phase which is continuing is called Apollo. These two phases are aiming to enable the content creators in order to build the quality of their brands. It is expected that TRON will have two more stages. One will be ‘Star Trek’ in the mid of 2023 and the other will be ‘Eternity’ which will be launched by the end of 2025.