What’s All The Fuss About Tron?
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Nov 21 2019, 8:11 AM
If you keep half an eye on the cryptocurrency markets, you won’t have failed to notice that there’s a new kid in town stealing the headlines from Bitcoin and Ethereum. What’s more, it’s got nothing to do with Facebook. Tron is a cryptocurrency with a difference, in that it is squarely aimed at the entertainment and leisure market and is seeking to create an ecosystem on which users can share, exchange and access digital content. It’s been around since 2017 but at the beginning of this year, its value skyrocketed by 2,000 percent in just three weeks. That’s when people began to sit up and take notice.
A little background
Explaining the nature of a cryptocurrency can often make even the experts glaze over, but Tron is conceptually far simpler to grasp than most. In essence, it is a blockchain-based decentralized platform for sharing entertainment content. In that way, it is a little like a social media platform, only content creators are rewarded using the Tron cryptocurrency.
This is quite different from conventional social media platforms like Facebook, where data is monetized in opaque ways that benefit the platform’s shareholders but nobody else. Tron represents a far more egalitarian approach in which those creators are rewarded for their content transparently and equitably.
The third web
One of the reasons Tron is creating such a stir is that it represents an opportunity to drive the internet back towards its originally intended form – as a decentralized network that is open to all. It allows content writers, game developers video streamers and creators to control their content and reap the rewards for its use. In other words, it is putting the power of cyberspace back in the hands of content users and consumers, and critically, it is giving them control of their own data. This overall concept is known as Web 3.0 or the third web.
Tron adoption
That might all sound highly Utopian, but Tron is more than just an idea. It is already in use and has attracted the attention of a host of entertainment providers and developers. Unsurprisingly, the online casino space has been an early adopter, and the very first Bitcoin casino that opened its doors back in 2015 is now offering gamers the chance to cyber ride with Tron cypto to Shanghai, at least in a virtual sense, with its Tron rollercoaster game.
Another intriguing product that has been developed on the Tron platform is crypto puppies. You might remember the cryptokitties phenomenon that was developed on the Ethereum network back in 2017. Shortly thereafter, Tron came up with something conceptually similar but with a tie in to the Chinese Year of the Dog. These crypto puppies or Tron Dogs are still available and are trading for the Tron equivalent of about $18 USD.
Tron has signed up significant partnerships with an impressive array of names. These include Singapore-based bicycle sharing platform oBike, crypto mining giant Bitmain and even ZAG-S&W, an influential US-Israeli law firm. This latter partnership is driving Tron’s international expansion while at the same time lending support in areas such as risk management and global operations.
Is Tron the future?
There have been plenty of innovations in the blockchain arena that have promised to change the world, so it would be foolish to be overly evangelical at this early stage. What is clear, however, is that Tron provides a platform for digital transactions that is logical and equitable. These facts in themselves place it a step above many of the alternatives, and the speed of adoption suggests that Tron is something that is only going to get bigger over the coming months and years.
If you keep half an eye on the cryptocurrency markets, you won’t have failed to notice that there’s a new kid in town stealing the headlines from Bitcoin and Ethereum. What’s more, it’s got nothing to do with Facebook. Tron is a cryptocurrency with a difference, in that it is squarely aimed at the entertainment and leisure market and is seeking to create an ecosystem on which users can share, exchange and access digital content. It’s been around since 2017 but at the beginning of this year, its value skyrocketed by 2,000 percent in just three weeks. That’s when people began to sit up and take notice.
A little background
Explaining the nature of a cryptocurrency can often make even the experts glaze over, but Tron is conceptually far simpler to grasp than most. In essence, it is a blockchain-based decentralized platform for sharing entertainment content. In that way, it is a little like a social media platform, only content creators are rewarded using the Tron cryptocurrency.
This is quite different from conventional social media platforms like Facebook, where data is monetized in opaque ways that benefit the platform’s shareholders but nobody else. Tron represents a far more egalitarian approach in which those creators are rewarded for their content transparently and equitably.
The third web
One of the reasons Tron is creating such a stir is that it represents an opportunity to drive the internet back towards its originally intended form – as a decentralized network that is open to all. It allows content writers, game developers video streamers and creators to control their content and reap the rewards for its use. In other words, it is putting the power of cyberspace back in the hands of content users and consumers, and critically, it is giving them control of their own data. This overall concept is known as Web 3.0 or the third web.
Tron adoption
That might all sound highly Utopian, but Tron is more than just an idea. It is already in use and has attracted the attention of a host of entertainment providers and developers. Unsurprisingly, the online casino space has been an early adopter, and the very first Bitcoin casino that opened its doors back in 2015 is now offering gamers the chance to cyber ride with Tron cypto to Shanghai, at least in a virtual sense, with its Tron rollercoaster game.
Another intriguing product that has been developed on the Tron platform is crypto puppies. You might remember the cryptokitties phenomenon that was developed on the Ethereum network back in 2017. Shortly thereafter, Tron came up with something conceptually similar but with a tie in to the Chinese Year of the Dog. These crypto puppies or Tron Dogs are still available and are trading for the Tron equivalent of about $18 USD.
Tron has signed up significant partnerships with an impressive array of names. These include Singapore-based bicycle sharing platform oBike, crypto mining giant Bitmain and even ZAG-S&W, an influential US-Israeli law firm. This latter partnership is driving Tron’s international expansion while at the same time lending support in areas such as risk management and global operations.
Is Tron the future?
There have been plenty of innovations in the blockchain arena that have promised to change the world, so it would be foolish to be overly evangelical at this early stage. What is clear, however, is that Tron provides a platform for digital transactions that is logical and equitable. These facts in themselves place it a step above many of the alternatives, and the speed of adoption suggests that Tron is something that is only going to get bigger over the coming months and years.
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