eToro is a publishing partner of CoinGecko
Have you ever imagined a decentralized entertainment platform where content creators are paid in full with no middleman? Meet TRON.
TRON is a blockchain-based decentralized operating system that aims to bridge the gap between content creators and content consumers.
CEO Justin Sun established the TRON Foundation in 2017 to provide a free, global, digital content entertainment system that allows easy and cost-effective content sharing.
Decentralizing entertainment with blockchain
Take Netflix, a single organization that controls what, when, and how content is put out. To host a movie, it takes a big cut out of a subscriber’s fee, and it only pays a small portion to the producer.
In contrast, the blockchain would cut out the middleman and allow subscribers to directly pay the producer or content creator, kind of like how Patreon works for YouTubers.
Platforms like YouTube seem to be the beginning of a decentralized world where content creators may produce a film without anyone’s approval. However, monetization on YouTube means that the producer does not have control over the pricing of a video and advertisers pay YouTube, not the producer.
How TRON uses blockchain to decentralize the industry
In October 2018, TRON established a decentralized application store, DappHouse. A decentralized app (dApp) uses peer-to-peer network technology whereby computers around the world act as broadcasters in a mesh network known as supernodes.
Unlike Netflix, a dApp is not hierarchical, which means no single website or authority can have a say over what content is to be distributed.
This decentralized system on TRON will enable:
- content creators to create and produce a film without pitching or approval
- new channels to be set up by anyone and joined by content creators
- advertisers to use tokens to buy exposure and the tokens will go directly to the creator
- viewers to use tokens to subscribe to channels or directly pay the content creator
In the past few years, TRON has improved its services to help achieve its mission of decentralizing the internet.
In 2018, they created a free platform for peer-to-peer distribution and content storage called Exodus. Odyssey was then born in 2019, providing monetary incentives to promote the creation and hosting of content on TRON. Unlike YouTube or Netflix, the incentives are based on user interaction and engagement instead of clicks and views.
Currently, TRON is building its services to enable content creators to build their brands and issue individual initial coin offerings, as well as personal tokens.
This is where TRX, the TRON coin, comes in
The cryptocurrency used by TRON is called Tronix (TRX). It is currently ranked 18th by market capitalization.
As the basic unit of accounts on the TRON blockchain, TRX connects the entire TRON ecosystem with various application scenarios:
- credit card payment
- TRON ATM
- purchase TRON merchandise in WeChat stores
- purchase tokens issued on…
Read more:Beginner’s Guide to TRON: The Blockchain With a Mission to Decentralize the