Tron and its use cases

Tron and its use cases

Written by Deepak Bhagat, In blockchain, Updated On
January 30th, 2023
, 538 Views

What is Tron?

Tron is a decentralized blockchain platform designed especially for promoting entertainment and content. Tron as a project offered ICO when launched in 2017, since its beginning it has managed to raise $70 million through investing. Tron gained popularity as the fastest-growing decentralized public blockchain and became one of the preferred open-source blockchains for running decentralized applications. Apart from revolutionizing content streaming, Tron seeks to streamline the DeFi sector.

Initially, the idea behind building Tron development was to serve the extensive Chinese market’s needs first, and China is a country with its own specifics and interests. By sidestepping Ethereum with lower transaction fees and faster processing, Tron successfully achieves this. Till now Tron has very well modified some well-known Ethereum-based applications.

Top Tron use cases in 2023

Tron development

Tron Casinos

Tron serves as the backbone of online casinos like Good Luck Casino and provides an opportunity to try luck in games like blackjack, roulette, hold’em poker, and others, offering a bonus of 50 TRX to those who registered. Here users can pool their tokens and earn dividends by having their GLC tokens burned. At end of each week, the winner is chosen based on the lottery principle and they get 50% of the profits earned to the pool during the week.

While, 25% of the weekly profits are given to those deciding to freeze their tokens, or stake at the casino.

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NFT Marketplaces

Tron’s interoperability comes in handy for the development of marketplaces where painters, musicians, and other creators could tokenize their works and trade NFTs without strict reference to a particular marketplace. This would benefit them by getting multi-currency support, bundling, and other related functionality, such as Tron’s feature of high liquidity, which would let creators could use their tokens as collateral for cash or liquid money. The constant rise in the user base would ensure that liquidity is maintained thoroughly.

Tron Gaming (MMORPG)

Tron can be used in terms of gaming as shown by the Tron Legend, which later lead to the development of a widely acclaimed MMORPG. The game deals with innovation and collective task-solving with its unique design and events that get systematically functioned with smart contracts allowing players to enjoy the benefits of Tron blockchain’s ecosystem. The earned rewards and dividends get distributed on the platform among the user wallets. Further, there are tools available so that users can also create their own games according to their choice.

Tron Exchanges

Tron is extremely suited for the development of decentralized exchanges, as smart contracts in Tron ensure the safety, transparency, and automation of executed tasks in a flawless manner. One of the first decentralized exchanges to exist over Tron, the Poloniex lets users exchange Tron tokens for TRX with no transaction fees.

In Tron-based exchanges, smart contracts handle all transactions in the network, carrying out exchange operations through users’ wallets while storing each and every record of transaction record on the blockchain network. Presently, more than a couple thousand active users are there over TRX Market, who nearly do 20,000 transactions.

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Conclusion

Tron has already become an important digital currency for many investors, while a senior developer at Rejolut opines that, Tron may look like a budding blockchain framework for development, but is potentially a valuable platform in 2023. Tron has robust plans and attempts to focus on enabling creators via a content platform, that would drastically lower the entry bar through low prices, and incentivize their developments by rock bottom operating costs.

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