After the first cryptocurrency, Bitcoin, was created back in 2009, the market has grown, with new platforms emerging every year. This is the case of Tron (TRX), a blockchain platform with the ambition of decentralizing the internet. This Chinese-based coin has bold ambitions and it wants to start a battle against major content providers such as Facebook and YouTube.
How is Tron planning to change things?
Using blockchain technology, Tron’s founder, 26 year-old Justin Sun wants to give artists the opportunity of releasing their content without having to depend on intermediary companies: Amazon, Apple, YouTube or Facebook.
He has proclaimed himself a protégé of the billionaire and Alibaba chief executive, Jack Ma and has around 350,000 Twitter followers. His idea is to promote the TRX coin online to loyal followers and investor and to make it known to the cryptocurrency community.
Sun used to work for Ripple (XRP)
Justin Sun has been listed by Forbes in its 30 under 30 for Asia three years ago and he is also known for having worked to promote Ripple (XRP), the third major cryptocurrency.
Sun studied at the University of Pennsylvania and he has used Twitter to communicate with Charlie Lee, Litecoin’s founder. He hosted one hour livestream about Tron and he is considered a vocal crypto-founder.
Tronix: Tron’s cryptocurrency
Tronix has a base of over 10 million and according to Sun, the Tron network will be implementing its own Chinese social network app Peiwo.
The Chinese cryptocurrency partnered up so far with Baofeng, a video hardware and software provider, considered by Sun the Netflix of China; oBike, Singapore’s largest-bike sharing company. oBike will release iCoins on the Tron platform and this will enable riders to accumulate coins the more they ride. Its market cap is of almost $6 billion and a circulation of 65 billion coins.