How TRON (TRX) Works & It’s Stages of Development

Bitcoin was conceived in the 2008 and since that time its price has increased significantly. In the course of this period, many other cryptocurrencies were launched and introduced in the crypto market. Some of these currencies included Bitcoin Cash, Litecoin and TRON among others. Since then, TRON, with trading symbol of TRX, has taken the crypto world by storm but it’s definitely for a good reason. It is an open source protocol of the blockchain, designed specifically for the digital industry of entertainment across the globe.

The platform is fully decentralized and offers diverse contents of the entertainment world in a blockchain network technology which is peer to peer. For better understanding of the TRON, I will take you through its history, founders, stages, advantages as well as any other relevant information that will build on your understanding of TRON.

History of TRON (TRX)

The TRON generally has a well connected and outspoken founder by the name Justin Sun. He envisioned a platform that users could share the content without having to use middlemen such as YouTube, Facebook, Apple and Amazon. He was listed among the top 30 under 30 in the Forbes list in the year 2015. He also has some background on cryptocurrency since he worked on Ripple there before.

The cryptocurrency team which currently has the vision of taking on some of the big leagues like Facebook and YouTube has managed to have a market cap of over six billion dollars. This coin was first introduced in the market in September 2017 by a non-profit organization in Singapore.

Understanding TRON

TRON incorporates the peer to peer technology blockchain meaning that just like the other cryptocurrencies in the market it is capable of eliminating the middlemen. The technology that has been used to design the TRON ensures that the users of TRON are capable of accessing any entertainment related content all over the world without having to consult with the Google Play Store or the Apple Store. In that case, the producers of the gaming content are able to receive the accumulated funds from their consumers in a shorter period of time.
The TRON platform has the ability to support multiple blockchain networks as well as smart contracts with the likes of Bitcoin, Ethereum, EOS among others. The innovative technology behind the Peiwo App, has made TRON to be ranked as the very first blockchain protocol which holds the smart contract. Actually it has over 10 million holders with wallets around the world.

Stages of TRON Development

For TRON to be able to incorporate the multiple technologies of the blockchain, there are several stages that it should go through. Currently, the TRON is at the Exodus stage but in the future it is expected to successfully incorporate the other five stages too.

  1. Exodus – The techniques used in this stage have so much in common with the hypermedia peer to peer platform which has the capability to make the web run a little bit faster. TRON is currently at this stage with its main objective being to distribute the necessary facility for sharing files. In the Exodus phase, TRON has the capability of leveraging any blockchain technology on the platform it is currently operating on.
  2. Odyssey – This is the next stage of the TRON which aims at incentivizing the creation and early adoption of the content creators as well as proprietary community. This phase will have so much in common with the POS (proof of Stake). Here, there will be the elimination of both clicks and views which will be replaced by the metric system which involves a tipping scheme. This is to ensure authenticity because the views and clicks can be generated in bulk using certain bots, automated bodies or click farms. At this phase, unidirectional payment channels will be used to make the TRX transactions.
  3. The Great Voyage – This phase will be characterized by Initial Coin Offering (ICO) which uses a blockchain network. Features of this stage will include the management of dividends, income management and management of supporters. A blockchain platform which will be personalized has to be created to achieve the goals of this stage.
  4. Apollo – Similar to the great voyage, this stage will also include and ICO (Initial Coin Offering) to its users and also a platform similar to the one in Ethereum. In this stage,TRON will have the capability of introducing its own token which individual users can use to trade. This will increase the economic vitality of the TRON system since the trading will be decentralized. However, there might be a small glitch since the protocols of the system will not be able to validate every token. To make the system more secure, developers will create a sophisticated security system upgrade that is capable of eliminating any hack attacks, malicious websites and the like.
  5. Star Trek – This is the fifth phase that is actually similar to the gaming platform. In this stage the contents of the TRON protocols will be converted in to a decentralized gaming system as well as the predicting functions. With the growing gaming market, TRON will be able to achieve the desired market capitalization that will be advantageous to the investors.
  6. Eternity – In this stage the cryptocurrency will grow according to its community and fundraisers from various organizations. The investors are likely to gain money from this stage due to the popularity of the gaming world.

Advantages of the TRON Network

Users will be able to have the ownership of their ideas instead of having middle men for instance Apple or Play Store.

  • Each user will have access to their own personal ICO
  • The platform allows the users to have a market focus team

In conclusion, TRON’s tokens have shown viable hope to the future of the cryptocurrency. As we all know, in this world of the cryptocurrency, the future is still a volatile situation and anything can change. The only thing most investors can hold on to is hope for the success of this coin.

Collins Valentin

Collins is a blockchain enthusiast, who spends his time between documenting the blockchain revolution in Africa, and writing the latest on the cryptocurrency space. Email: editor.news@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.