TRON Empowers Super Representatives through Tencent Benchmark
Some of the best things that an ecosystem can do to assure its ongoing reliability for users, is to be meticulously benchmarking and testing itself in a comprehensive way. Doing this serves to benefit other aspects as a result, such as Super Representatives.
So long as an ecosystem remains true to conducting these types of operations, then there's a truly promising future in store for them. One of the recent examples was Tencent, which has created a veritable oasis for its ecosystem.
On the 26th of July, NASDAQ officially listed Pinduoduo with the offering price of $19 per share, roughly setting the total market value at $24 billion. According to previous forecasts of Pinduoduo, the trading volume of Pinduoduo were as high as 66.2 billion RMB, with over 300 million active users as of reports in the early months of 2018.
At present, it only took three years for Pinduoduo to climb up to reach the coveted third place within China's E-Commerce industry. One of the questions that go rarely asked is how Pinduoduo was able to make such a rapid rise in influence? The answer is empowerment by Tencent.
The empowerment is divided up into these areas:
- Funding empowerment. Public records show that Tencent invested $30 million and $100 million on Pinduoduo respectively in 2017; Tencent made another one-time investment of $1 billion on Pinduoduo’s pre-IPO financing in March, 2018.
- Traffic empowerment. Tencent has shared its most valuable traffic with Pinduoduo. WeChat currently owns more than 1 billion users with a popular payment system, which allows Pinduoduo to quickly access the market with a low traffic cost.
Along with this empowerment, the two have been collaborating in areas including payment solutions, user interaction and cloud-based services.
This co-operation has, over time, created a 3-year shortcut into the market for Pinduoduo, this is in stark comparison to competitors such as Jack Ma and Liu Qiangdong.
For Tencent, it proves to be a spectacularly strong move, especially considering that Tencent is moving to be more involved in Alibaba's home venue.
Creating A System Of Empowerment Within An Ecosystem
While Pinduoduo is the latest example of what an ecosystem supported with empowerment can do, it's not the only example. In the 2017 Tencent Global Partner Conference, Ma Huateng gave an open letter to the waiting crowd, stating that Tencent's ecosystem had grown like a ‘big tree', finally expanding to become, what could only be described as a ‘big forest', all thanks to their initial policy of empowerment.
Building an ecosystem on the basis of empowering whatever comes to populate it is becoming the golden rule, with Tencent and Pinduoduo representing the policy and result in action. This is especially true for the internets big contenders, of which, Tencent and Alibaba are among them; developing their own ecosystems based around the strengths of their businesses.
With the help of an empowering ecosystem, companies can gain an advantageous foothold in an otherwise highly competitive, dangerous marketplace; if Pinduoduo can further utilize the opportunity, it may even skyrocket.
Before we conclude that this system of empowerment is something quintessentially internet-based, it's important to illustrate that this rule is proving true within the world of blockchain, as evidenced by TRON and its continually growing mainnet. Of all blockchain companies, TRON is the first one to really bring forward the policy of empowerment in any demonstrable way.
TRON, along with all the token holders and SRs, will build a vigorous and fast-growing ecosystem together.
TRON appears to agree with the initial principles of a successful ecosystem: a meticulous approach, continual benchmarking and an undercurrent of empowerment for users.
Empowerment by Popular Sovereignty
The only thing that blockchain can profess to do differently to the internet in terms of empowerment is responsible for an atomization of that same principle. On the internet, empowerment exists between respective companies, on the blockchain, this diffuses down to the token holder.
In providing an open letter to the TRON community, Justin Sun, its founder, established the need to foster and support “The popular sovereignty of the token, the natural rights of the token.” Within this system, any and all token holders can successfully empower Super Representatives by backing them with their tokens.
The decentralized power of blockchain means that every token holder has sovereignty, and every token holder has intrinsic power with which to empower. To guarantee the implementation of the power, TRON has established a set of rules for its community members, so that they could use their power in a free, convenient and timely manner.
Information about SRs and real-time operation of the SR Election is available on the TRON Network for community members to check and vote easily. Any and all members of the community can participate by voting in the upcoming Super Representative elections 24/7.
This is a rare difference to the ‘de facto' way in which a blockchain is run by the miners, founders and developer teams rather than the individual token holders within that community. Under this dynamic, token holders have no power at all, no means to manage or effect change, by contrast, TRON has gone the opposite direction, creating a revolutionary, self-governing ecosystem of token holders through empowering tokens and their holders.
In the new ecosystem, SRs are elected by all token holders. The empowered SRs are first builders and protectors of the TRON Network. They provide computing and verification services for the network and are generously rewarded.
The way that TRON's protocol network functions is through generating 1 block per second, each producing 32 TRX, totalling up 1,009,152,000 TRX to 27 SRs per year. According to more conservative estimates, Super Delegates would receive a minimum annual reward of 2 billion RMB. This serves to incentivize and encourage Super Representatives to look out for the best interests of the ecosystem. Because as TRX grows in a robust ecosystem, the SRs’ reward will multiply.
Along with generating a revenue from block generation, other revenue streams can derive from the TRON ecosystem, which will gradually outgrow block generation.
Super Representatives have a major role to play in TRON's ecosystem and within its governance architecture. Since its release, TRON's ecosystem has been co-governed by its community with close links back to the Super Representatives and the TRON foundation.
Within this system, Super Representatives can gain support from the community with their ideas and abilities. The individual token holders have the ability to empower Super Representatives so long as they're actively contributing and providing ideas to the ecosystem. On a certain level, SRs represent the will of the community, which represents the voice and the governing power in the TRON ecosystem.
The Ecosystem Of Win-Win
The TRON ecosystem empowers SRs, SRs and SR candidates, in turn, bring their strength to the TRON ecosystem.
One of TRON's Super Representatives is SkyPeople, the development company famous for the well-known game, Final Blade, is also poised to take over Pokémon Go!, the second highest ranked game in South Korea. Meanwhile, TRON SR GSC, the first social chain to reach a hundred million users, is set to establish a uniquely decentralized, value-oriented network with an emphasis on Mico, a very well known social platform.
TRON SR Game.com is devoted to building a global game platform for blockchain and cryptocurrencies with the intention to become the industry standard for organizations and companies everywhere.
TRON SR, Node Capital is one of the first professional agencies that's made major investments in the blockchain market. It's also made investments in a number of other areas too, including news, cryptocurrencies, including technology development and application.
Among the Super Representatives is AntPool, one of the largest cryptocurrency mining, which has been continually ranked as one of the top global computing powers in the region, and RightBTC, the first global token exchange in Dubai and one of the most popular cryptocurrency exchanges in the world.
These companies are only a number of the many Super Representatives that comprise TRON's ecosystem. At present, there are over 100 different Super Representatives and an increasing number of SR candidates running for election which are as much diversity as they are numerous.
From those with a high level of social presence to those that are highly skilled in terms of programming and development, some are rich in resources of the industry, and others are leading in vertical fields.
The Super Representatives bring with them a significant amount of influence into the world of blockchain and onto the TRON ecosystem as a whole. TRON itself, with a large volume of users which are highly active, with nearly 100 million dApp users, provide a monumental potential to empower SR's with their own varied strengths. Growing together, the two sides will establish an ecosystem with enormous power and potential under the oversight of the community members.
Much like Tencent has been able to do with partners like Pinduoduo, TRON elects the most reputable organizations to be Super Representatives, allowing for the ecosystem to grow thanks to a mutually beneficial relationship which exists between TRON, its users, and the Super Representatives. By growing together with the SRs, TRON will establish a healthy and self-sufficient global ecosystem, which will bring endless possibilities for TRON itself, the SRs, and the community.