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

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Tron
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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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