Tron

Welcome to our glossary series, where we break down complex cryptocurrency and blockchain terms for beginners. Today’s entry focuses on a significant player in the market known as TRON.

Intro to Tron

TRON is a decentralized blockchain-based platform founded by Justin Sun in September 2017. Designed with the aim of building a free, global digital entertainment system, TRON allows creators of digital content to cut out middlemen like the Apple Store and Google Play Store.

How does Tron work?

Functioning as a decentralized content-sharing platform, TRON allows creators to get compensated directly for their content. It uses a unique, three-layer architecture that separates storage, core, and application functionalities. What does that mean? Imagine a system in which users can create, store and distribute their content without a third-party app. That's what TRON achieves. This has also made TRON a notable competitor in the decentralized Internet space.

Tron’s Cryptocurrency: TRX

The native currency of the TRON network is TRONIX (TRX). Used primarily for the purchase of applications in the network, TRX also serves as a medium for users to pay for content. Notice the role shift? Here, instead of giant corporations, consumers financially reward creators directly, making the digital content distribution process much more equitable.

TRON Smart Contracts

TRON supports the development of decentralized applications (DApps) through the use of smart contracts. These are automated contracts with specific instructions coded into them, executed without the need for a third party. This feature greatly extends the flexibility and functionality of the TRON platform.

Pros of Using Tron

As a content creator, imagine earning more for your work and retaining full ownership rights. These are among the many advantages offered by TRON. But it’s not just creators who benefit. For users, TRON offers a wider and more diverse range of content.

To sum up, TRON is an innovative and ambitious project reshaping the world of digital content creation and distribution. Stay tuned to our glossary series for more insights into the exciting world of cryptocurrency and blockchain.