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Beyond the hype: Is Tron’s Blockchain The ‘Microsoft’ Of The Blockchain Industry?

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In a matter of days, Tron will be exactly one year old. What started out as an Ethereum based decentralized application has now developed into a fully fledged proprietary Blockchain worth close to $3 billion. Since the beginning, Tron was poised to ‘decentralize the internet’ even though Justin Sun (CEO of Tron) and his team are yet to broadly define what that really means.

Perhaps when Tron has finally completed its ongoing token swap, with all the funds from TRX holders migrated to the new Tron Blockchain, the statement together with Tron’s vision will be made clear. For now, however, anyone with a considerable amount of funds invested in TRX, the token swap event that started last week is nothing short of a make or break moment.

On Justin Sun’s purchasing of BitTorrent

As most Tron followers already know, Justin Sun is by far the most outspoken member of the Tron team. The former Ripple representative last week was the talk of the town after he moved to purchase BitTorrent in a move that was criticized as a legitimacy seeking mission for Tron by the young founder.

Having emerged from the crypto boom of 2017, Tron has not been a favorite for inured crypto enthusiasts. In fact, apart from being regarded to lack legitimacy in the crypto community, Tron has also previously been called out for plagiarism to which Justin Sun promptly responded by saying that,

We do apologize for the quality of different versions of the whitepapers. Also, our current code development is not as same as we planned in the whitepaper so please check our @github and feedback is welcome!

Likewise, onlookers have also accused Tron of not providing attribution to Ethereum’s protocol even after using its code to build the newly launched mainnet.

Comparing Tron to Ethereum

While speaking to CoinDesk, Sun not only remained confident about Tron overcoming past allegations but he also pointed out that the choices and decisions made with the project were in line with his vision. He further mentioned that Tron, unlike the likes of Ethereum, is focused on developing “consumer-facing products.

According to him,

Ethereum is like IBM back in the day, making those big supercomputers…They only focus on tech, they don’t focus on user experience.

Sun believes that Tron is building on top of Ethereum’s inefficiencies to become the “Microsoft of Blockchain

His response to allegations

While being interviewed by CoinDesk, Sun responded to the allegations about plagiarism by saying that Tron takes “Security issues very seriously” and that the company spends millions in bug bounties to prove the fact.

Although he acknowledged the allegations about plagiarism, indicating that it had stemmed from a minor error made by a programmer earlier in the project, he brushed off the issue about Tron’s use of Ethereum J by saying that Tron only used “a small portion of Ethereum J”.

As it seems, even with the new mainnet, CoinDesk’s interview reveals that Tron is still using the EthereumJ protocol on its mainnet. When asked whether the new Tron Blockchain was still using EthereumJ, however, both Mr.Sun and the Tron team were unable to give a concise answer.

Conclusion

Although a number of software experts have shown concerns over the preparedness of Tron’s mainnet, super representative candidates on Tron’s network, as well as some entities, are still optimistic about the successful operation of the Tron mainnet launched last month. At the moment, whether the Tron mainnet fails or succeeds is to be determined in a matter of time.

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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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

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Crypto Billionaire Predicts Massive Price Growth by 2021

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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…

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Altcoins

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

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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…

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