Tron is a third-generation blockchain network. It means that it’s by no means as “simple” as, say, the Bitcoin or the Litecoin blockchains whose sole purpose is to support the existence and operation of a cryptocurrency. As first-generation blockchains, those kinds of networks have nothing to worry about except for producing new blocks that can keep the system going so the payments network keeps working and their respective tokens can be traded, exchanged, and preferably, rising in value.
Don’t get us wrong; we’re not picking on Bitcoin or any of the token-centric blockchains. All of them (Bitcoin above all) are revolutionary technologies. Those are the projects that started the digital currency movement which could disrupt the world’s financial system in such a profound way that, in the long-term, could help us to dispense with the government (or central bank) controlled fiat currencies (which are worth something only by consensus) and the world’s banking system. But the blockchain has evolved, and it keeps moving forward.
Vitalik Buterin found the way to turn a blockchain network into a programmable platform that supports the development and deployment of smart contracts and decentralized applications. That’s what Ethereum is, and that’s the source of the enormous prestige it still has, and why it remains the world’s second cryptocurrency by market capitalization in spite of all the complaints Ethereum users have expressed on the network’s performance and costs over the last few months.
And then the third-generation blockchains appeared such as EOS, Tron, Cardano, and many others. These can do everything that Ethereum does and then something extra. Tron, for instance, aims to turn the web into a blockchain network thus decentralizing it entirely and taking power away from central authorities.
It could seem like a very ambitious goal, but it’s moving in that direction. Sometime during this year, Tron will turn BitTorrent (the world’s largest P2P decentralized network) into a blockchain-based distribution network for the content of all kinds.
This all means that Tron was born with versatility in mind, thinking about all kinds of use cases for the network (and, consequently, for its currency, Tronix or TRX). The Tron Foundation has worked hard to secure many strategic partnerships that ensure a plethora of use cases for Tron as a network and as a cryptocurrency.
Tron’s use cases
First and foremost, TRX is useful to navigate and take maximal advantage of the vast amount of decentralized applications you can find in the Tron Network. Gaming applications of all sorts, as well. As like any digital coin, an obvious use case of TRX is in trading it, particularly at one of the many decentralized exchanges developed with the Tron’s blockchain and variegated tokens in mind.
As BitTorrent merges into Tron, it will become the most extensive use case in the network, fueled by the BTT Tron-based token. BitTorrent will turn Tron into the world’s largest blockchain network because it was already huge before.
Also, the project has been trying to find use cases that take advantage of TRX as a cryptocurrency and payment system. Those options include support at travala.com (where you can book rooms at more than half a million hotels over the planet), SpendCard, TroncardIo, Bitnovo (which sells cryptocurrencies in cash in thousands of supermarkets and convenience stores all over Europe) and BitcoinSuperst1, which facilitates cryptocurrency payments for more than 200 thousand stores.
And there’s more to come.
Tether is moving its flagship stable coin to Tron’s network. It is called USDT-Tron, and it will be a cryptocurrency in which a physical dollar will support every token, and Tether and Tron will issue it as a TRC-20 coin (that’s already started, and in fact, Tron blockchain occupies 2% of Tether supply now as we write this post).
We already talked about BitTorrent joining the Tron network. And then there are the BeatzCoin, dAppEvolution, Bitgo, Swarm and the SunNetwork future use cases.
On top of everything, the Tron foundation is working hard in improving the currency privacy features, and that will open many new use cases as the token will then be able (maybe) to compete directly with coins like Monero, Verge or ZCash which privilege privacy and suppression of traceability.
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.