If you’ve taken a peek at the cryptocurrency charts today, you’ve probably noticed TRON (TRX). It has risen by 145% in the past 24 hours. In the past week, it has skyrocketed 488% higher. Looking back a full 30 days, this crypto-coin has seen its price soar more than 9,000% higher.
Those are the kinds of gains that, like what happened with Ripple (XRP), can propel a cryptocurrency to the top of the most-valuable ranking.
But a lot of people still have never heard about TRON (TRX). Moreover, a lot of the people who have heard about it still have no idea what type of cryptocurrency it really is.
What Kind of Cryptocurrency Technology powers TRON (TRX)?
This blockchain technology is, like Cardano (ADA), very similar to Ethereum. But – also like Cardano – TRON has made some improvements based on some of Ethereum’s shortcomings. What it really is is a decentralized entertainment sharing platform. No, it doesn’t have anything to do with the video game or movie.
The official crypto-coin for this decentralized network is Tronix, which powers the platform.
The whole idea behind this project is to “heal the internet” by facilitating a more open environment for sharing entertainment content. TRON is seeking to take the control out of the hands of middlemen like the Apple Store or other content giants. The power will then be in the hands of individuals.
TRON’s team insists that it is a tool to make people’s lives betters. They claim that it’s not just another startup trying to make a profit.
How is TRON (TRX) Going to Disrupt the Entertainment Sector?
The organization behind this platform plans on ensuring a number of things with its decentralized network, including:
- Making all the data free and uncontrolled
- Creators can supply their digital assets directly to consumers with no middlemen
- Creators can launch their own personal ICOs (like on the Ethereum network)
There will be some sort of digital assets exchange as well.
Without major global corporations making such a huge profit from current content sources, the entertainment sector is sure to be disrupted.
They are now only in the first stage, called Exodus. Individual ICO capabilities won’t come until the third stage, Great Voyage. The final, sixth stage is meant to be wrapped up by 2023. The fifth stage involves a decentralized forecasting and gaming platform.
The basic concept is very similar to Ethereum’s, but TRON goes further and is honing in more on entertainment and gaming-related content. With so much growth, the tech potential of this project is obviously attracting a ton of investor content.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.