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Why August 30th Is A Crucial Day for Tron (TRX)
The past few weeks since the Bitcoin (BTC) ETF was delayed by the SEC, has been a tumultuous one in the markets for all digital currencies. Our favorite digital asset of Tron (TRX), has also not been spared. TRX is currently valued at $0.20 at the moment of writing this and down 6% in the last 24 hours. This is despite the project having a successful Testnet launch; a successful Mainnet launch; a successful Beta version launch of the Tron Virtual machine; as well as a successful token swap that started back in June and concluded a few weeks ago.
As a matter of fact, it has been a period of continual decline for the TRX digital asset since early May when it was valued at $0.0973. The digital asset has since fallen 80% in 4 months. Primarily to blame is the general decline in the crypto-markets that has been fueled by a sea of bad news after bad news. First, there was the rejection of the Winklevoss ETF followed by the postponement of the CBOE sponsored Bitcoin ETF up until the 30th of September. If it were not for these events, TRX would be a top 5 coin by now due to the massive achievements in a 12 month period.
Also to note is that the Justin Sun and the Tron (TRX) foundation have recently acquired BitTorrent and BlockChain.Org to further their decentralization efforts. But all this would not mean much if the Mainnet is not 100% functional including supporting the creation of DApps.
Here is why the 30th of August is Critical for the Tron Project
On this day, the Tron Foundation completes the final upgrade on the Mainnet by integrating the final version of the Tron Virtual Machine. The currently working Virtual Machine is a test version for the developer world to test drive and find bugs as well as get a feel for the final version of how the virtual machine will work.
In a recent interview to the Crypto Lark on Youtube, Justin Sun is quoted as saying the following with respect to launching the final Virtual Machine version on the 30th of August:
“Actually…we are ready for the launch already. But we are doing a lot of the tests…like the pressure test…volume test…to make sure it works very well when we launch. Our Mainnet was already launched on the 25th of June, but right now we are building the Virtual Machine on the Mainnet. The Virtual Machine is [where developers] can develop very interesting Decentralized Applications, DApps, on the network.”
Therefore it is all systems go for the Tron Project on the 30th August with the final piece of the puzzle finally in place. This will mean that the Tron Mainnet will be able to migrate the 18 current Tron Dapps to the Mainnet. One such app – Peiwo – is estimated at having over 10 Million active users. The total number of users on the 18 DApps was once claimed to be 100 Million. This means that all these users will migrate to the Mainnet as soon as the final Virtual Machine is ready.
With more users on the Tron Mainnet, the demand and use of TRX will also increase as a result. This means that the only way is up for TRX in the markets once DApps start being developed on the Mainnet. The Sky is the Limit for the Tron project henceforth.
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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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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