What is TRON (TRX)?

Tronix (TRX) is a cryptocurrency that is crushing the market capitalization party big time. It has been designed to run on TRON, to pioneer the decentralization of the entertainment industry by constructing a worldwide free content entertainment system using the blockchain technology.

TRON will allow each user to freely publish, store and own entertainment data in the decentralized autonomous form. Content owners will also decide on the distribution, subscription, and push of content. It will also enable content creators to release and circulate their entertainment digital assets, and thus become the first decentralized content entertainment ecosystem.

With a current market cap of close to $10 billion and a daily volume of almost $700 million, the coin is already a market leader barely four months since it was created.

TRON intends to scale through six distinct milestones.

Exodus: Offering a simple, distributed file sharing facility. In Exodus, there is not much leveraging of the blockchain technology, just a liberation of the sharing of entertainment files.

Odyssey: Odyssey will usher a tipping system that replaces the views or clicks currently with decentralized systems. It will be similar to the Proof of Stake paradigm. People will be able to get authentic content from the system when they tip the content creators.

Great Voyage: In this stage, a personalized token creation for all content marketers will incentivize the creation of personal ICOs that will allow for supporter management, income payment, and dividend management. People will now be able to support massive entertainment projects and have a share of the proceeds using the personal ICOs created by the content creators.

Apollo: This phase will function much like Great Voyage, with the exception that TRON will introduce its decentralized tokens, and carry out system updates to increase security and make the blockchain more robust and secure to avoid hacks, malicious tokens, DDOS and Sybil attacks.

Star Trek: The fifth phase in the scaling of TRON will see the blockchain morph into a decentralized gaming platform, much like Augur. The system will be improved to provide for autonomous gaming and prediction functionalities which will allow TRON to enter the $450 billion, and probably give the currency much needed improvement in capitalization.

Eternity: This last phase of the blockchain will handle fundraising where investors will seek to put their money in the gaming or entertainment options of their choice.

Tronix is poised to be big when TRON scales in this manner. And this is mainly because it has several things going for it that most other coins can only dream of.

TRON Coin Qualities

Ready Market

The best thing going for TRON is its target market. The entertainment industry commands an online world capitalization of over $1 trillion. As a trendsetter in decentralizing entertainment, most artists and content owners who have been oppressed by fat wallet distributors and promoters are now breathing easier with the promise that TRON brings to enable them to manage their content.

TRON Is domiciled in China where it already enjoys massive support. This is mostly due to the fact that China is a huge market that seems to support its innovations over others.

Partners

In addition, Justin Sun, the CEO of Peiwon App is the brainchild behind TRON. He is an accomplished 26-year-old blockchain expert with experience working for Ripple as their chief representative in the greater China.

Peiwo is an audio app that has a following of more than 10 million subscribers, with a million regular users. Sun has availed this massive market immediately to TRON by making the app compatible with the TRON protocol, to allow the distributed functionalities immediately available to Peiwo users, and afford TRON with a ready market of 10 million wallets.

The Chinese cast of business magnates who support TRON is stellar. People like Dai Wei, the founder of OFO bike, Tang Bingsen of ‘Clash of Kings,’ Chaoyong Wang of China Equity Group and Yang Linke, the founder of BTCC.com provide massive endorsements to the coin.

Sun himself is one of the first students of Jack Ma’s Hupan University, has a master’s degree from the University of Pennsylvania and has appeared in the Forbes list of China’s ‘30 under 30’.

Lucien Chen, a big data expert who has worked for Tencent and Alibaba, has left Alibaba to join the TRON team as their technical lead, coordinating and guiding their worldwide technical teams.

The Interface

TRON will enhance live shows, social networks, online casinos and games as well as mobile games, and all manner of digital entertainment platforms around the world.

It accomplishes this by providing features for payment, development, credit sharing, and storage of content.

TRON Digital Wallets

Since TRON is an Ethereum based coin, it is compatible with most ERC20 wallets. The most prominent wallets can be categorized into two broad categories, which allows you to secure your crypto or trade it as you wish.

Crypto wallets are digital and are similar to normal wallets in that they store money. However, they are unique in several ways;

• They are digital and are identifiable only using pseudonymous character keys called public keys.
• They are either online (‘hot’), or offline (‘cold’).
• They support different coins for different reasons. For example, there are wallets that only support Bitcoin and Ethereum.
• Some can allow for intra-wallet coin exchanges (they have to be online for that to happen though).
• They have private keys which are used by the cryptographic algorithms to allow network members to ascertain the veracity of transactions from your wallet.

On private keys, HEAR THIS;

NEVER share your private keys or leave them insecure. The day unauthorized persons access your private keys, your crypto is as good as gone.

NEVER lose your private keys too! If you do, there are no recovery systems and the wallet will never be opened by anyone.

Hot Wallets

All exchanges that offer TRX will provide a hot wallet to facilitate the trade. Remember that exchange wallets are only recommended for a short time holding as they are online and therefore can be attacked and your crypto can be lost for good.

Among the hot wallets, you will find Binance, Liqui, HitBTC, Yobit, and Gate.io.

Semi-hot and Cold Wallets

If a wallet can operate offline, it is called a cold wallet. Some wallets can operate both off and online but are more secure than exchange wallets. Let us look at several of these wallets that support TRX.