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What is the Tron network?

What is the Tron network?

TRON is a pioneering platform that empowers artists and creators by providing them with control and ownership over their own info.

In a way, its model stands in complete contrast to that of Facebook.

Social media infrastructures are built in such a way that tech giants can monetise a user’s data without their consent. In the third web, TRON challenges the monopolisation of control over collective information. They put the power back into the user's hands. But how do they do it? Well, they accomplish that by being a decentralised storage facility. They eliminate the middlemen who used to profit the most from data, and connect creators and consumers directly.

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How Does It Work?
The ecosystem of TRON uses the basic decentralised framework of blockchains for its storage technology. Being blockchain-based, TRON ensures maximum possible security of user’s data, and also allows easy and cost-efficient sharing of digital content.

A decentralised network naturally uses peer-to-peer technology. It eliminates the intermediary or a centralised authority. This cuts down the cost, increases safety, and enhances connectivity. Creators and Consumers From the middle of December 2019 to early January 2020, TRON grew by over 2000%.

A large amount of that growth can be attributed to what TRON has to offer . TRON’s ecosystem lets its users create and share content with anyone, anytime, anywhere in the world.

It can be considered a futuristic social media outlet. However, the best part is that creators get compensated for their content and data. Moreover, since it does away with the intermediary, the global audience can directly pay the content creator for the content. And, Tronix or TRX serves as the currency for such transactions.

Potential
Future Potential of TRON It is the world’s fastest-growing public chain with over 31 million accounts and 1.8 billion transactions! Some individuals are of the opinion that TRON might not grow as fast as expected because of the way Sun has handled communication in the past.

However, TRON’s current status does prove them wrong. Besides, if safety is something you are looking for, you should know that the budget of TRON surely prioritises security.

The low price of TRX, along with the active and thriving ecosystem of the network naturally seem attractive to investors, especially the ones who are just starting out. On the other hand, the freedom of having control over one’s data and audience happens to be beneficial for creators as well. Over the past four months, TRX prices have grown slowly but steadily.

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Progress
It started off at $0.02 in January, and then climbed to $0.061 by mid-February. As of 30th April, TRX price stands at $0.1239. This latest bullish trend of TRON came as a surprise to many, even though the project has seen new developments recently.

Their roadmap consisted of milestones such as - Exodus: Free platform for peer-to-peer storage and distribution of content - Odyssey: Non-mandatory upgrade consisting of economic incentives - Great Voyage: Individual ICO or Initial Coin Offering capabilities - Apollo: Enabling content creators to issue personal TRON 20 tokens - Star Trek: Decentralised gaming and prediction platform - Eternity: Crowd-funding for game development with the help of potential investors Needless to say that TRON has already accomplished the first three.

However, compared to other networks, the technical developments on the current roadmap are simpler. TRON, it is believed, is currently focused on promoting the adoption of the network and thus gaining more users.

TRON does have very well-known projects and companies such as Samsung, Poloniex, BitTorrent, Swisscom, Opera and Blockchain on board as partners. However, many of these partnerships do not have direct influence on the TRX price.

Is it worth investing in TRON?
Given everything we discussed, it is rather difficult to predict how TRON would turn out in the future. There is a lot of positive potential, but we should also consider long-term risks.

However, TRON does seem promising in the short run. And let’s not forget that it is one of the best platforms for content producers and consumers to interact without any intermediary. The project, even though dedicated to the entertainment industry, has room for innovation. So, there are quite a few reasons to be optimistic. Conclusion What TRON, as a network, promises is scalability.

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TRON Community
TRON’s strong community and its easy accessibility have kept the project alive and well. Besides, its main aim was to empower users by letting them control their data. Looking at the growing user base of TRON, it is evident that the network has been succeeding.

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by techbull.co.uk. Readers should do their own research before investing funds.

Image by Boonmachai Mingkhwun from Pixabay


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