MUCH ADO ABOUT TRONIX
It’s been a week since we launched TRON on Busha and so far the response has been great. There are still a lot of people that haven’t heard about TRON, so we’re here to give you more informaTRON ( see what we did there?)😁
WHAT IS TRON?
TRONIX (popularly called TRON and designated by TRX), is a MainNet token based on the TRON Protocol issued by TRON Foundation. MainNet is a term to describe a blockchain protocol that is fully developed and deployed. TRON was founded by Chinese entrepreneur Justin Sun in 2017, and the TRON Foundation raised $70 million in 2017 through an initial coin offering. It has a circulating supply of 72 Billion coins and a max supply of 101 Billion coins. It is a smart contract platform that offers high throughput, high scalability, and, high availability for all Decentralized Applications (DApps) in the TRON ecosystem.
“TRX is the basic unit of accounts on the TRON blockchain. The value of all other tokens derives from that of TRON. TRX is also a natural medium currency for all TRC-based tokens. TRX connects the entire TRON ecosystem, with numerous application scenarios that power transactions and applications on the chain.” -Tron Network
WHY TRON?
Tron aims to replace services such as Youtube, Google, Facebook and others by becoming the decentralized infrastructure in which users can connect directly with creators and pay the creators directly for the content they wish to consume. Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content.
To draw an analogy with a real-world application, consider Netflix, which operates a digital entertainment service offering on-demand content. A single organization controls the services in a centralized manner. One may need to subscribe and pay Netflix to watch a particular on-demand movie that may have been 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 cut for hosting the movie on its platform and pays the remainder to producers. Often, the lion’s share is taken by the middleman.
Tron replicates this business model on a 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 above example, by allowing anyone and everyone to host digital entertainment content on its blockchain-based network. The global audience can directly pay the content creators to access the content.
In the process, Tron’s open, decentralized platform and distributed storage technology also attempts to address a significant issue — the challenge of a very few, and powerful, corporations controlling the Internet and its content — making it a level playing field.
Source: Investopedia
It’s interesting to see what the future holds for TRX as we progress. If you’d like to buy TRX ON Busha, here’s how:
1. Update your app to the latest version from your App or Play store
2. Click wallets and scroll down.
3. At the bottom of the page, click add new Wallet.
4. Add TRX
5. You can now buy, sell, send or receive TRONIX (TRX)
