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3 Major Impacts of TRON Main Net Exodus

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TRON’s Main Net launch update, titled Exodus, will mark the advent of the cryptocurrency functioning on its exclusive blockchain. As of now, Exodus is targeted to go live on March 31st, 2018, and will usher in a host of new features and increased usability for the TRX cryptocurrency.

  1. Unparallel utility for TRON: TRON founder Justin Sun tweeted the ways in which the Exodus Main Net will make TRON a top contender as one of the best-performing currencies in the crypto market. The features are as follows:
  • Negligible fees: Like Ripple, TRON is planning to create a smooth experience for consumers of TRX. It starts with reducing transaction fees to the point where it gets almost non-existent. The TRON team’s status update states that TRX-based transactions on Exodus will require a consumption of only 0.0001 TRX in the process. Thus TRON would become the least expensive cryptocurrency to use in terms of fees. It would take an impossible price-per-coin of 1000 USD for TRX fees to elevate above the 0.01 USD mark. At the current price of TRX, a single penny would help you net 20,000 transactions on Exodus. The TRON team clearly recognizes how high fees act as a barrier to the usage of cryptocurrency.
  • Scalability: Crypto market is at crossroads as investors are growing impatient for use-cases and the field as a whole needs to continue expanding and driving innovation so that a steady decline can be avoided. Scaling is at the core of the issue, with most currencies being unable to handle the overwhelming load of a true payment platform. TRON is attempting to increase its scalability and bring it at par with the more scalable cryptocurrencies, by posting 1000+ tx/s on the Exodus network. If TRON continues to foray into the entertainment industry-disrupting technology that Sun is endeavoring to create, that number will likely have to reach up to 1000+ tx/s. But as of now, Exodus will have no difficulty handling the network load for TRX, and enable the currency to keep on growing into and dominating over the gaming industry without facing the barrier of scalability. TRON’s Main Net will ensure TRX does not fall into any trap of stagnation which arises from price speculation and profit motives. The team’s main goal is to keep their focus on the utility of the currency and its implementation as a tool to solve real-world problems.

2. Differentiating TRON from the market: The field of cryptocurrency is brimming with transaction-based tokens and ERC-20 derivatives. TRON’s exit from the Ethereum network onto its own platform for Exodus creates a fresh space for the currency to exist. Other cryptocurrencies can be built upon the Exodus network as well. This increases the number of ways in which TRON can be developed as a currency and thus contributes to the expanding utility of TRX. However, it also positions TRON as a flagship technology in its own right. Sun has created a vision for what TRX is trying to achieve: disrupting the entertainment industry and overhauling the way these various platforms starting from gaming and social media, are conducting business.

The whole crypto industry is having to recover from past pure price speculations and poor investment prices. Most of the FUD surrounding TRON is the product of investors crashing from the fall of January 2018’s all-time high expectations. With the launch of the Exodus, TRON is attempting to differentiate itself from the majority of copycat currencies and weak projects that are stagnating the industry. The next logical step for Sun and his team would be to change public perception and entrepreneurial interest for TRON from another ERC-20 token to something innovative and a class of its own.

3. Building a platform for success: The big goals for the disruption that TRON has set out to achieve through Exodus, are starting to take the form of drastic, industry-changing companies. Big projects pave the way for fierce competition. It might be hard to comprehend the consequences of disruption of the entertainment industry, which is what TRON is aiming for. Part of the confusion surrounding the white paper is a simple lack of clarity regarding Justin Sun’s vision for TRON. But, needless to say, blockchain and cryptocurrency represent two highly path-breaking technologies that have not been utilized to their fullest potentials. Consider the case of Bitcoin. It can be spent like money without having to use government fiat. But the question arises regarding its function in the real world; i.e. what benefit does it yield somebody who is using Bitcoin instead of their debit card.

TRON also gives rise to similar hard questions. Outside of TRON Dogs and a growing list of potential collaborations, the implementation for TRX is not setting the industry-standard in the way that Ripple has succeeded to integrate through the financial industry. All these could change completely after the launch of the Exodus.

Conclusion:

Sun has already laid out how the usability of TRX on the Main Net will equip the coin with the ability to compete as one of the top five cryptocurrencies. The platform for success has been built; it is now time for TRON to fulfill its likeliness as an industry-changing currency.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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 Paul via Flickr

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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