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.
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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…