One of the biggest BitTorrent clients in the world, µtorrent, has just announced that it wants to bid for becoming TRON’s (TRX) Super Representative.
µTorrent joins TRON’s Super Representative election
Following the launch of its MainNet and token migration to their native blockchain, a cryptocurrency TRON (TRX) has started its Super Representative election. One of the biggest twists in the election was when TRON’s own founder, Justin Sun, decided to run and was elected a Super Representative in less than a day.
Now that the news about BitTorrent being a large factor in TRON’s Project Atlas has come out, another twist came from one of BitTorrent’s largest clients, µtorrent. In a new, surprising move, µtorrent announced that it will bid for a position of TRON’s Super Representative itself.
It's official. BitTorrent is now part of #TRON. We pioneered the world's largest decentralized p2p protocol, now we're joining forces with TRON to build the future of the decentralized internet. Read more at https://t.co/Jb8GwwRJf6. @Tronfoundation @justinsuntron pic.twitter.com/8eTH2evBUv
— µTorrent® (@utorrent) July 24, 2018
This election is an important event for TRON since it will decide the future governance of the crypto’s blockchain. Additionally, those elected to become Super Representatives will receive some unique benefits and privileges, not to mention the profits made from the DpoS algorithm.
All of the Super Representatives are elected by TRON token holders so that all potential power abuse and corruption will be effectively eliminated. Justin Sun has stated that the process has a large philosophical component and that it is a rather convenient solution. He added that he has always been a believer in the sovereignty of the people, as well as their rights. He has now transported those beliefs to his token, and each of them has a vital role to play in unlocking true decentralization. This is also where he announced his own candidacy for Super Representative.
Soon after that, on July 25, it was announced that µTorrent wants to do the same. The TRON Foundation stated that this BitTorrent client in particular shares the values and views of BitTorrent itself, which is also a candidate for the Super Representative.
TRX ‘secret project’ revealed
As mentioned previously, BitTorrent was recently purchased by TRON, and for a while, the reason behind the purchase was unknown. Then, only days ago, it was announced that BitTorrent is to be used with TRON in a new ‘secret project’, called project Atlas. BitTorrent’s large network will be used for improving TRON transactions and is expected to eventually give this coin a monetary value.
For now, Justin Sun continues his work on meeting the milestones announced by TRON’s roadmap, while attempting to improve the blockchain’s quality at the same time. One of the aspects of his leadership has also been his high level of interaction with TRON’s community. Thanks to his efforts on Twitter, TRON has developed one of the most supportive and popular communities in the entire crypto world.
As for the Super Representatives election, a significant number of places have already been filled. The elections will continue until all 27 Representatives have been chosen, and TRON will be able to continue to the next phase of its development.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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