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

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Tron

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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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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