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µTorrent Aims to Become TRON’s (TRX) Super Representative

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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.

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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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