What is TRON? CEO Justin Sun Plans To Decentralize Digital Content on the Internet
Blockchain has constantly been called an instrument for mass disruption. Many blockchain start-ups are on the verge of introducing platforms that will alter the status quo of many industries. one platform that dedicates all its resources to the creation of a haven for content providers is TRON.
TRON was introduced last year in order to topple traditional platforms like Facebook and YouTube. The platform argues that content creators are the major contributor to the present day social media platforms and streaming sites. Therefore, they should get a fatter share of the revenue made by these established platforms.
In addition, TRON plans on creating an ecosystem for content creators that will by-pass intermediaries. Therefore, the platform will advertently eliminate middlemen charges, and give content creators a direct link to their customers. Further, TRON will serve as a decentralized server for decentralized apps that are designed to provide digital contents.
According to Coinmarketcap, TRON’s native token TRX is presently selling for $0.20 and it has a market cap of $1.5 billion. Some in the crypto community has pointed out that the future value of the cryptocurrency will be limited by the coin’s circulating supply. As at the time of writing, the cryptocurrency has a circulating supply of 65 billion TRX. However, another faction of the crypto space, believes that the long-term price of TRON TRX will hit $0.50 with a market cap of about $50 billion.
TRON’s founder and CEO Justin Sun told Forbes that the network’s mission is to completely “decentralize the web”. He added that the ecosystem’s functions go beyond just rewarding content creators, rather it is working on creating a state of the art workspace for the development of quality contents.
Justin Sun also believes that the current web model gives service providers control over the contents’ economics. Therefore, TRON is the next-generation web that will allow content providers to have full control over their contents while also rewarding service providers for their contributions.
Justin Sun used to work with Ripple XRP before he launched TRON in 2017. The project is backed by heavyweight investors and personalities in the crypto community, hence, this has translated to the coin’s sporadic rise to become one of the top 20 cryptocurrencies in the world.