Tron (TRX token) is a decentralized, blockchain-based platform that aims to build a global free digital entertainment ecosystem with distributed storage technology, and allows for easy and affordable sharing of digital content.
Tron was founded in September 2017 by a Singapore-based non-profit organization called the Tron Foundation.
It is headed by CEO Justin Sun and has a dedicated in-house development team that includes notable people in the technology field.
Using blockchain features and peer-to-peer (P2P) network technology, Tron attempts to bridge the gap between content creators and content consumers by eliminating the middleman.
The result is lower total cost to the consumer and improved collection through direct receipts of the content producer, providing a win-win situation.
To draw an analogy with a real-life app, consider Netflix, which operates a digital entertainment service that offers on-demand content.
One organization controls the services in a centralized manner.
One would need to subscribe and pay Netflix to watch a certain on-demand movie that might be produced by a group of budding enthusiasts who are hosting it on the Netflix platform.
From the fee charged to the subscriber, Netflix takes a deduction for hosting the movie on its platform and pays the rest to the producers.
Often, the mediator takes the lion’s share.
Tron replicates this business model on the public blockchain network and acts as a distributed decentralized storage facility that makes it more efficient and cost effective.
It aims to eliminate the middleman, like Netflix in the example above, by allowing anyone and everyone to host digital entertainment content on its blockchain-based network.
Global audiences can pay creators directly to access content.
In the process, Tron’s open, decentralized platform and distributed storage technology is also attempting to address an important problem – the challenge of too few powerful corporations controlling the Internet and its contents – making it a level playing field.
Founder of TRON
TRON was founded by Justin Sun, who is now the CEO.
Educated at Peking University and the University of Pennsylvania, he was honored by Forbes Asia in their 30 Under 30 Series for Entrepreneurs.
Born in 1990, he was also associated with Ripple in the past – serving as its chief representative in the Greater China region.