Introduction to Tron TRX Blockchain and Cryptocurrency

In 2017, Tim Berners-Lee, a computer scientist who has invented the World Wide Web, has made a statement in which he said that his invention was failing.

The idea of Berners-Lee was to create an open network accessible to anybody and everybody. While it is true that to this day anybody can create a website, a blog, or publish almost any kind of information on the Internet, finding this information is almost impossible without going through certain major hubs such as Google and Facebook.

 

How the Internet functions today

No matter what a person wants to do on the Internet today, it is very likely that the person is going to use one of the giant tech platforms. For music, there is Spotify. For online shopping, there is Amazon. If you want to search for information, you are likely to use Google. Facebook is by far the largest social network in the world.

The Internet in the twenty-first century appears as a free and open network, but in reality, it is not. It is controlled by a relatively small number of giant corporations, all of which have their own rules as to what content they let through.

One of the issues with these platforms is that they collect astounding amounts of data about their users and then analyze the data with the goal of figuring out how to keep the users on the platform for longer periods of time, which also means holding people’s attention for longer periods of time.

An article in the American Journal of Psychiatry from March 10, 2017, introduced Facebook addiction as a medical problem (link: https://ajp.psychiatryonline.org/doi/full/10.1176/appi.ajp-rj.2016.111203 ). According to researchers, Americans spend on Facebook 40 minutes a day on average and about 50% of people between the ages of 18 and 24 check Facebook first thing in the morning after waking up.

The article described that Facebook addiction commonly appears among college students, especially females, and may lead to lower levels of self-esteem, narcissism, and neuroticism. In many cases, students who use Facebook excessively have lower academic performance and unhealthy sleep patterns.

Part of the reason why the digital platforms have become so good at holding people’s attention is that the revenue of these platforms comes from advertising and the longer users stay on the platforms, the more ads they see, which means more money for the platforms.

The spread of fake news online was one of the consequences of the improvements of digital platforms to their algorithms in order to keep users on the platforms longer.

 

Tron TRX Protocol

Tron TRX is a decentralized protocol that wants to change how the Internet currently operates. The developers of Tron believe that users should have ownership over the data that they create. Decisions about accessing content should also belong to users and not digital platforms in the way they do today.

Tron protocol allows providers of content to interact with consumers of content one-on-one using blockchain technology. Because of this, creators of content do not have to pay fees or to become vehicles for ad delivery the way they do today on platforms such as YouTube.

The goal of TRON is to serve users in five ways: as a content platform, as a network for payments, as a digital currency, as a social network and as an ecosystem of the previous four elements.

As a content platform, TRON would operate as a decentralized network for storage of information, which would work according to a market-based model. The members of the network who provide storage would be earning Tron currency TRX.

One of the reasons for the success of Tron cryptocurrency is the team behind the project. The founder of Tron is Justin Sun. Sun has degrees from University of Pennsylvania and Peking University. In the past, he worked for Ripple and founded a mobile application Peiwo. Peiwo has ten million users and these users will become Tron platform members.

This is what makes Tron very different from other projects in the blockchain space. Many of the projects run initial coin offerings and try to figure out how to attract users, while Tron has a large user base it can work with. Justin Sun announced on his Twitter that in the future Peiwo users will be able to use TRX cryptocurrency to tip on the app.