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Tron (TRX) is a blockchain platform launched as the foundation for a decentralized entertainment ecosystem. Created by Justin Sun, Tron focuses on expanding the market of decentralized digital content applications by making it easier to create and deploy them. The Tron mainnet was launched Jun 2018, and the Tronix TRX is the proprietary cryptocurrency token of the Tron blockchain.
A Bit of History
On June 2018, TRON officially activated its mainnet, migrating from Ethereum blockchain, and completed coinburn of 1 billion TRX. Right after that Freewallet released the first TRX wallet for mobile and added TRX to Multicurrency wallet.
Soon after launch TRON acquired BitTorrent, pioneer in distributing computing, thus expanding its ecosystem with 100M new members.
In December 2018, Tron reportedly “wrote blockchain history” by crossing 2 million transactions and surpassed over 700,000 registered accounts.
What is TRON?
Tron TRX is one of many efforts seeking to leverage the peer-to-peer nature of modern networks in order to allow content creators and distributors direct access to their consumers.iTunes, YouTube, and other centralized distribution networks have a significant strangle hold on the digital content market, creating a barrier for independent content producers seeking distribution channels.
Content delivery and streaming entertainment are huge industries. The content delivery network market alone is predicted to reach $30 billion by 2022, while the entertainment industry as a whole will exceed $2 trillion in the same period.
Most major shifts in Internet technology have to do with either the payment or delivery of content. The first iteration of the web was poor at facilitating payments. With Web 2.0, came the introduction of secure payment channels and a new advertisingh economy was born, which made use of personal data to sell more products.
With Web 3.0, as Justin Sun views it, we have seen content economics arise that give centralized control to delivery mechanisms. Content presented by Facebook or YouTube is essentially owned by those entities. Through cryptocurrency, this situation can be disrupted, and content producers can own the actual content they create, while deliverers can still earn a reward for their service.
How Is TRON different from Ethereum?
Tron began as a project running on Ethereum, and that’s one of the reasons for which a lot of people believe that Tron is nothing more than a new version of Ethereum on steroids. Things are not that simple.
Both Tron and Ethereum are projects which include a token (TRX and ETH, respectively) but, unlike Bitcoin, or Litecoin, or most other blockchain projects the point is not in the token. These two are programmable platforms that allow developers to create and deploy smart contracts and decentralized applications.
Ethereum was the first network that featured these unique capabilities, which is the main reason why it has so much prestige and influence. And that’s also the reason why Tron and EOS started based on Ethereum.
So what's the difference? Tron can reasonably claim the following two wins over Ethereum.
- Faster transaction speeds. 10000TPS vs. 25TPS
- Lower fees. Zero fee vs. high fee
TRON Explainer Video
This video is created by TRON and may be biased. For more information about TRON, please visit https://tron.network/.