Another attempt to register Tron in the US failed

David Kemp

The SEC has proposed banning the release of TON blockchain tokens in the US. At the same time, this position is not only for regulators in the field of financial markets. And now, let's look at what Tron is and what this project can be of interest to users.

Decentralized platform for entertainment content

At its core, Tron does not even pose an imaginary threat to the modern financial system. The developers did not set ambitious goals for changing the global financial system. The goal of the project is to create a global database of free entertainment and an ecosystem that will be based on the remuneration of various categories of users.

This database is supposed to contain content such as video games, books, movies, music, and so on. As a result, something similar to a social network with file sharing should appear.

The project has attracted the attention of the general public, who are tired of paying a lot of money for content. And this is not the most important thing. In addition to the file database, the system itself promises full decentralization. This means that the network will be free for everyone and everyone will be able to both contribute and receive certain benefits from using it. A kind of Internet of things, but only in an online environment.

Working with the network allows users to:

  1. Create your own content.
  2. Provide comprehensive support for various projects, both with cryptocurrency and recommendations.
  3. Earn local tokens for hosting and creating content.
  4. To change a particular functionality of the site.
  5. Issue your own tokens.

Free use of the network is conditional. Users do not pay anything for communication. However, in order to use products from the database, you will have to pay in the local currency TRX. Payment with fiat money is not provided on the site. Therefore, to purchase items, you will need to purchase TRX on various exchanges.

Features of working with the platform

For the average user, all communication with the platform will be reduced to a social network, as well as the purchase of content of interest. This happens in the following way:

  1. The developer or the person who owns the relevant rights puts the content on the site. The quality of the product may be a game, video, music and so on. In the process of posting, the terms of sale and price are also specified.
  2. The buyer chooses the product they like and purchases it using TRX tokens. As noted above, the purchase will require native platform tokens. The project's website has links to exchanges and exchanges where you can make transactions to purchase TRX.
  3. After the purchase, the developer receives a cryptocurrency. This completes the transaction. In the future, the received tokens can be used within the platform or transferred to fiat currencies via exchanges.

Some experts compare Tron to the symbiosis of Steam and Youtube, as if two well-known sites were implemented on a decentralized platform. The project has several important features:

  1. There is no commission in the ecosystem. This allows buyers to save on purchased software products, and sellers to offer more competitive prices.
  2. There is no censorship. Decentralization and blockchain allow a wider range of authors to express themselves. Censorship is present on such well-known sites as Youtube or AppStore.
  3. Conditions that are equal for all.

Road map

Work on the project is scheduled until 2027. These include creating an environment for file sharing, developing a reward system, a platform for conducting an initial offer, preparing a decentralized platform, implementing a platform for online games, and finally preparing an environment for crowdfunding. Some stages have already been completed.

Tron Tokens

There are only three internal tokens:

  1. TRX. This is the main cryptocurrency that allows transactions to purchase content and exchange cryptocurrency for other tokens.
  2. TP or TronPower. Internal tokens that cannot be purchased. They are obtained as a result of staking. TP allows you to vote for changes in the system and not only.
  3. Tron20. This token was created for the same purposes as the well-known ERC20 standard. It can be used to develop smart contracts for issuing various proprietary cryptocurrencies.

A total of 100 billion units were produced. Emission is limited. During the initial offer period, 40% of the cryptocurrency was sold. All that remained was sold through private sale, transferred to Peiwo Huanle. In addition, some of the tokens were distributed to a special fund.

The token has an inflationary nature. It is assumed that the used coins will be burned, which may have a positive impact on the cryptocurrency exchange rate in the future.

The Tron platform offers its own wallet that supports well-known blockchain standards, including the TRX token. The system is scalable, which allows you to place any projects with almost any prospects and a large number of users on it.

The blockchain has its own explorer that allows you to track all transactions within the network. As for criticism, Tron has been repeatedly attacked by a number of adherents. In particular, the creators of the blockchain are accused of the fact that this blockchain is not actually decentralized, since 80% of the entire cryptocurrency belongs to its founder.

Another criticism argument is that despite the emission limit, too many tokens have been issued. For comparison, only 21,000,000 are planned on the bitcoin blockchain. At the same time, some bitcoins have already been lost. Accordingly, the final amount of the first cryptocurrency will be significantly lower. With such a large TRX issue, experts do not expect a significant increase in the price of this cryptocurrency.