If you’re interested in supporting Tron, then you probably already know all about the project and its ambitions, but we’ll review the basics anyway.
Tron is a third-generation blockchain programmable platform that became independent from Ethereum some seven months ago. It includes a native token (TRX or Tronix) but also a lot of more sophisticated features like the ability to deploy centralized apps, smart contracts and to create new cryptocurrencies based on Tron’s token technology (Tronix itself started life as an Ethereum-based token).
It’s probably the most versatile project in crypto along with Cardano, EOS, Ethereum, and Stellar Lumens. But Tron has a very specific goal to achieve: to decentralize the web in full.
Total web decentralization is a very ambitious goal. It means that the whole of the web will, slowly but surely, move to Tron’s blockchain in which no central authorities (Google, Amazon, Youtube, Facebook, Microsoft, etc.) will be able to dictate terms in the way the content is produced, published or consumed. This will, in turn, enable content producers to monetize their work directly from users using Tronix as a real-world currency.
This is, in fact, already happening. As you probably know, Tron bought BitTorrent a few months ago. A few weeks after the operation was completed, Justin Sun (Tron’s CEO and founder) announced Project Atlas.
The new project will merge the current BitTorrent network (which is the largest decentralized P2P network in the world) into Tron’s network. BitTorrent has recently issued a token called BitTorrent Token (BTT) which will be used to reward those BitTorrent users who use their own resources to seed their files.
The longer you seed a file, or a set of files, the more BTT you will earn. Then you can go to one of Tron’s decentralized token exchanges and trade them for TRX or any other of the manifold cryptocurrencies based on Tron technology that is already available. You will even be able to trade your BTT for TRX and then use your TRX to buy Bitcoins or any other cryptocurrency you fancy, but you will probably have to use a different exchange for that.
It’s a very promising project that has delivered every promised milestone on time, and working correctly. The network has grown in size, user base, and transfer volume dramatically over the last few months while being submerged in a very pessimistic crypto environment. The token also has found ways to grow in value. Over the last few weeks, it’s gong from 11th to 9th place in market capitalization, and it’s grown 40% only this year.
So we go back to our initial question: how can you support Tron’s growth, price, and success? There are a handful of very concrete actions you can take easily to do that. Here they are:
- Freeze your TRX tokens every now and then. Why? Read the next point.
- Vote for Super Representatives who contribute the most to the network’s growth. Super Representatives (SR’s) are the nodes in the network that produce blocks. They’re the engine that keeps the project going, and they’re not elected arbitrarily but by popular vote from the Tron community. But in order to vote for SR’s you need to freeze your TRX for a while. Every Super Representative has a different agenda, and each one offers different things to the network. So find out which one is the best for everybody and vote. Also, voting can often get you a reward in TRX.
- Re-invest the rewards you’ll earn from voting, and keep freezing some and voting many times over.
- Use Tron’s decentralized apps. Many of them are a lot of fun, and some even will provide you with some passive income. By using the apps, you help to create trade volume for TRX (hence, value) and you support the project.
- Educate yourself. Read the white papers about any of the individual Tron projects that catch your imagination so you can talk with authority about them to your friends, co-workers, and family and encourage them to join.
- Fight FUD whenever you see it arise in any forum or conversation.
So now you know. Tron is not in Justin Sun’s hands. It’s in yours, and you can make it work by just having your fun around the Tron ecosystem.
Image courtesy of Pixabay.