What is Tron TRX | Everything You Need To Know About Tronix Altcoin

Tron [TRX] is a blockchain-based decentralized platform founded by Justin Sun.  Tron’s seeking to build a free, content entertainment ecosystem. The system being built will use distributed storage technology, which will allow cost-effective sharing of digital content. The project was founded by the Tron Foundation, a Singapore-based non-profit, back in 2017.

What is Tron?

Tron uses features of both the blockchain and peer-to-peer (P2P) network technology to bridge the gap between consumers and content creators by eliminating the middleman. The Tron project seeks to remove the middleman from a number of transactions within the entertainment and social media platforms. Popular and content heavy websites such as Youtube make hosting a media project an extremely difficult and costly process.  Tron’s technology to remove the middle parties such as the Apple and Amazon stores gives creators the ability to control who gets access to their content and how much to charge without the additional fees the stores charge.

One example of a centralized digital entertainment platform is Netflix.  Netflix’s customers pay a fixed monthly fee to Netflix to watch on-demand movies and television shows.  These shows are produced by media companies and the content is hosted on the Netflix’s platform.  Netflix earns a percentage of the revenue by hosting the content and distributes the remainder to the producer.

Tron’s decentralized model differs from Netflix’s centralized platform because every content creator in the world can publish and host their digital content on the Tron blockchain. Tron’s global audience will be able to pay the content creators directly to access their content.

What is TRX? 

The Tron network uses its own ER20 cryptocurrency altcoin named Tronix (TRX).  The TRX altcoin can be used by content consumers to pay for the content they want to view.