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Decentralized Applications in the Entertainment Industry
Earlier this year, technology chief of Ripple, Stefan Thomas, parted away from the crypto-giant to create a new platform based on Interledger technology. Known as Coil, this platform provides real-time incentives to content creators on the network. Blockchain-based Decentralized Applications is a new entrant in the entertainment and online content industry, but its foray is stronger than any other disruptions in the media industry before. Apart from this, Cryptocurrency like the BAT, Basic Attention Token, created by Brendan Eich is gaining good traction in the Digital Advertising industry. Such initiatives are creating an amicable environment for content creators.
The emergence of Decentralized Applications in the entertainment industry is beginning to have a strong impact. Tron, the blockchain technology for content producers and creators is gradually emerging as a big name. Other blockchain based platforms such as the Steem and Vevue are offering ways to monetize online content, but Tron is backed with multidimensional facets to support itself technically as well as in the industry from business perspectives. Additionally, celebrities are beginning to realize the potential of blockchain based technology as a business avenue. In near future, it is certain that content-based technology like TRX will gain greater relevance. It will impact Tron price strongly, and Tron’s adoption is likely to hit a mainstream in media and entertainment industry.
TRX Technology Removing Middleman
Founded in September 2017 by Tron Foundation, TRX Technology eliminates the third party involved in distribution and marketing of creative content. With the rise of platforms like YouTube and Netflix, content creators found a lucrative way to earn through their content, especially from videos, music, and arts. In this ecosystem, digital advertisement plays a pivotal role as the only revenue source for both content creators as well as the third party platforms. Blockchain-based technology decentralizes this system by replacing the publisher platform that usually has a good share in the revenue distribution model. Elimination of middleman is the primary aspect of this platform.
Tron is a public blockchain network. Using peer-to-peer network technology, it enables content creators to earn directly from viewers accessing their content. This technology improves the overall market by reducing the cost for viewers on one hand, and increasing revenue generation on the other. As there is no centralized third party involved in the process, users pay content creators directly using the token called TRX.
TRX DApp Adoption will impact Tron Price
TRX Technology offers several advantages to Content Creators. It was built on Ethereum blockchain in its initial stages. However, launching the Tron Virtual Machine, it created the new avenue of developing independent Decentralized Application. At present, TRX Price is competing with Ethereum and other top cryptocurrencies. The technology is promising immense possibilities stepping up with new developments in a short time. Tron Foundation also launched their own main-net recently. Thus, Tron price prediction is following a strongly positive path. Industry experts believe TRX is set to reach three times of its original starting value by the beginning of 2019.
Additionally, with strong growth perspectives, its value is set to reach 4$, increasing by more than 16 times of its initial price in the next five years. This will be backed by its own creation, the new Web 3.0, the decentralized web, which is deemed as the next big thing in the technology landscape. Web 3.0 could bring new revenue generation and distribution model in the market. While some cryptocurrencies are impacting the market by partnerships and free distributions, Tron TRX is depending on technology upgradation and user utility as its market breakthroughs.
