Tron Seeks to Decentralize The Web

    Well-Known Member Staff Member
    Likes Received:
    Trophy Points:
    July 29, 2018 at 09:15
    What Is Tron?

    Tron (TRX) is a decentralized entertainment platform utilizing peer-to-peer (p2p) and blockchain technology. Among other things, it seeks to provide decentralized storage and sharing capabilities and enable distributed digital asset exchanges (e.g., games or music) via token exchange. At present, the company is setting the stage to become a market leader within the blockchain-based entertainment industry.

    Partnership with

    Tron began setting the stage by forging a strategic partnership with (GTC), a popular blockchain gaming platform. The partnership announcement generated extensive media attention and induced GTC’s price to surge 700%. Together, they intend to create gaming solutions that preclude gamers from having to liquidate their in-game currencies (like skins, equipment, and other rewards). However, other ambitious blockchain gaming projects seek a similar goal, and it remains an open question as to whether they will succeed or not.

    Mainnet launch

    Tron originated as an ERC-20 token on the Ethereum (ETH) blockchain and remained so until its mainnet launch (May 31st, 2018). Investors had hoped the mainnet launch would initiate a price surge, but the price stalled and even declined somewhat. Some analysts speculate that the price stall resulted from Tron’s brilliant marketing campaign, as it raised expectations before showing anything of substance. With a current market cap of €2 billion, investors expect the project to showcase real results soon less it loses traction and disappears quickly. As with any cryptocurrency, investors are looking for the company to launch useful dApps and forge new partnerships. Fortunately for Tron, they are providing their investors with several big announcements this month (as seen below).

    BitTorrent Acquisition

    In July, Tron purchased BitTorrent in a bid to “revolutionize the entertainment industry.” The company believes that BitTorrent, an open-source file-sharing communications protocol for p2p networks, will help its mission to decentralize the Web. Although BitTorrent still attracts 150 million users on a monthly basis, YouTube and Netflix have eroded its audience in the past decade. Also, given its open-source nature, critics are wondering what strategic motivation exists for such an acquisition.

    As Coinbase writer Christina Kim points out, several online commentators suggest that the acquisition was motivated “not (by) BitTorrent’s services per se but rather the established platform BitTorrent possesses from which to create entirely new services.” Others assert that BitTorrent’s massive user base makes such an acquisition a no-brainer. In a recent letter to the Tron community, Tron’s CEO Justin Sun noted that,

    BitTorrent is the genesis of the decentralization movement. Developers, entrepreneurs, and the decentralized Web community regard BitTorrent as the original pioneers of decentralization technology. It is the foundation of an open, transparent, shared Internet protocol.​

    The BitTorrent acquisition embodies TRON’s “All-In Decentralization” strategy. TRON and BitTorrent share the same vision for a decentralized Web. I believe BitTorrent will gain new life from integrating into the TRON ecosystem, and TRON will continue BitTorrent’s protocol legacy.​

    Justin Sun hopes to fully integrate BitTorrent’s team and technology with Tron, believing that their combined capabilities “will take the technology behind the TRON ecosystem to a whole new level.” Ultimately, Sun sees BitTorrent as key to helping “give data rights back to the individual” and liberating “the Internet from the stranglehold of large corporations.”

    Epilogue: Tron Virtual Machine

    On July 30, Tron will launch an upgraded version of the Tron Virtual Machine (TVM). The new TVM is expected to be a game changer for developers. More specifically, the application environment “designed to be compatible with Ethereum’s VM (EVM) environment so Ethereum developers can compile and adjust their existing codes in an environment so smart contracts in Ethereum can be easily ported to TRON” (Ethereum World News). Since TVM uses bandwidth rather than Ethereum gas, developers will also be less concerned with cost (and exercise much more creative flexibility as a result). Finally, TVM will supposedly enable developers to create smart contracts using “friendly programming languages developers are familiar with. There is no need to learn a new programming language (Medium).” If Tron realizes such expectations, industry watchers expect Tron to become a strong competitor in the emerging Dapps development field.

    By being aggressive in forging partnerships and promoting platform innovation, Tron may very well “revolutionize the entertainment industry.” As it stands, Tron appears to be gaining ground as a major player within the cryptocurrency field.

    Would you like to know more?

    We don’t just publish articles, XTRABYTES is a whole new blockchain platform that allows DApps to be programmed in any language, utilizing a new consensus algorithm called Proof of Signature. In doing so, XTRABYTES presents a next – generation blockchain solution capable of providing a diverse set of capabilities to the general public.

    You can learn more on our website, where you can also help to spread the word through our bounty program and get rewarded in XFUEL, or join our community and hop into the discussion right now!







    The post Tron Seeks to Decentralize The Web appeared first on XTRABYTES Today.

    Continue reading...