Why Was Tron Invented?
Tron was invented with a clear purpose in mind: to help reward content creators more for their efforts. The way the media industry is structured at the moment is that a few big companies such as YouTube, Facebook and Apple have a massive degree over what media is viewed and put out on their sites. Not only do they control what can be seen, but they also receive the vast majority of the money generated by the media. The creators however only receive a small cut of the income. The platform was set up to correct this.
By cutting out the middle-media-man, as it were, it is able to let viewers directly reward content creators via the Tron network and using the TRX tokens. Thus the media is owned wholly by the creator rather than in part by a large company.
How Does Tron Work and What Technology Is Behind It?
The network works on a few principles, the first being that all data on the network is free and not controlled by a central authority. Content creators are able to gain digital assets, in this case, the TRX token or other tokens which are underpinned by TRX, as a reward for their content.
As mentioned, it is possible for creators to create their own coins or tokens which can be used within their own Dapps on the network. These created tokens are underpinned by the main Tron token.
The final stages of the network development plan include the support of games on the network. These would be totally decentralised and users would be able to reward the creators directly if they enjoyed the game with their own digital assets.
Is Tron Real Money?
TRX can be used as a store of value, as an investment or to trade for other currencies. As such it could be considered as ‘real money’. However the token’s main use is on the network in the creation of, and interaction with dApps.
It is also possible to lock away the tokens to gain a reward known as ‘Tron Power’. This provides the holder with voting rights over decisions on the network as well as giving them a higher status. The longer a token holder locks away their tokens for the more TP they receive.
Fees & Expenses
There are no fees for TRX transactions, a remarkable feat, and the network is able to support 2000 of these feeless transactions every second.
Purchasing TRX on an exchange will, of course, incur some sort of fee as compensation for the exchange connecting you with a seller. Especially as TRX can only be purchased as a trade for other coins such as Bitcoin or Ethereum. As such, you will incur fees on purchasing these coins outright and then another fee for the trade to TRX.
What Are the Benefits of Tron?
Feeless – Transactions on the network are feeless.
Rapid transactions – Transactions are very fast, as the network can support up to 2000 a second. Such a capacity for transactions bodes well for the scalable future and the potential on the network for revolutionising online media. Compare this to other coins such as, Ethereum (25 transactions), or Bitcoin (3-6 transactions) and it is clear to see what a feat this is.
Able to create dApps – You can create dApps on the network. By creating a dApp on the network and offering content on it, you can receive digital assets in return. These can either be in normal TRX tokens or in a token you created that is underpinned by TRX. As such, you can be compensated for your efforts in creating the application and content within it. If you are not interested in creating dApps, then the vast array that have already been created are still there for your leisure.
Able to directly support content creators – Tron believes it is important to support content creators more adequately and the network is a great way to do this. If you use the internet today in 2020 chances are you enjoy watching or looking at online media. The happiness that you receive by watching is made possible by content creators, therefore it is only fair that they are sufficiently supported for their efforts.
Can It Be Used Anonymously?
Tron transactions are anonymous, however, these are only on the network itself. The act of purchasing TRX, and the necessity of going through an exchange, means that you will have to prove your identity to purchase Tron tokens in the first place. Once on the network, however, transactions can be carried out anonymously. On the other hand, it should be noted that all blockchains maintain a record of transactions made on the chain. As such, no transaction is ever truly anonymous.
How Safe Is It?
Tron has a secure reputation in the crypto world. The company spending on security and the personnel it has hired is indicative of this. Like other cryptocurrencies, as it is a decentralised network there is a large onus on the individual to be smart when it comes to looking after their tokens. With regards to the network as a whole, it has yet to suffer a security scandal.