Connect with us

Blogs

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

Published

on

Tron
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Blogs

Crypto Billionaire Predicts Massive Price Growth by 2021

Published

on

crypto billionaire
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

Continue Reading

Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

Published

on

TokenRoll
READ LATER - DOWNLOAD THIS POST AS PDF

Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

Continue Reading

Elite