Tron builds the network of content creators.
Tron targets the entertainment market. By creating a blockchain, it wants to integrate all solutions into one single marketplace of content. Industries that involve monetary relationships like video games, gambling, and lifestyle can gain a lot from this integration.
Tron provides tools for everyone to create social communities on the blockchain. These communities match traditional social networks like Facebook and Twitter but run in a decentralized way. Users can create accounts and publicly share information. Users can also comment other posts and send private messages.
Tron has smart contracts similar to Ethereum. To execute them, Tron provides a virtual machine as an execution environment. Using Tron VM, smart contracts execute fast and consume little memory.
Tron plans to move gradually from centralized to decentralized consensus algorithm. The first stage is to implement a fully centralized consensus algorithm. The second stage is to make a decentralized algorithm based on Raft. Finally, the third stage is to implement a PoS algorithm.
The nodes can exchange information by block “swapping”. All content information in the Tron network stored in blocks. Tron utilizes BitSwap to implement block swapping. It works similar to BitTorrent, allowing the peer-to-peer exchange of information stored in blocks. Each node stores some of the blocks available in the network, which is defined in its “have list”. Blocks that this node wants to download are described in “want list”.
To incentivize nodes to send blocks to other participants, BitSwap utilizes the credit system. When a node requests a block, there is a probability that other node will send that block. This probability increases when node sends blocks to other nodes and decreases when that node receives blocks. Having a long history of transfers also increase the probability of receiving a file. The system is designed to punish those nodes who only download blocks, but is still friendly to those who behaved poorly and wants a “second chance”.
At the ICO, Tron sold Tron20, the token powered on Ethereum. When the network mainnet will be launched, Tron will swap Tron20 with Tronix, the native token on Tron blockchain. Users can lock their Tronix to get Tron Power (TP). Tron Power is a token that provides voting rights. The process of locking is permanent, and the TP is not tradable. The idea behind Tron Power is to reward those who believe in the project and don’t expect short-term gains, as Tron plans to reward TP holders with more tokens.