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Tron’s mainnet migration starts receiving support of exchanges already

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An overall market cap made Tron’s TRX altcoin drop by 4.44% in 24 hours, which brought it down to the market’s number ten position. TRX started on April 27 at $0.069 and then broke the psychological $0.1 barrier on April 30th. It went down a little right after that, and at the time I researched this article it was at $0.083, which is still a relevant increase in value.

Only Cardano‘s coin has grown more, or quicker than Tron’s coin. Tron has grown by 10.22% over the last week while Cardano is up by 21.24%

As Tron’s Main Net migration becomes imminent (scheduled for May 31st), digital asset exchange platforms are continuing to support Tron; in return, increasing demand, and adding value. This even includes the May 25th virtual machine run.

Gate.io is (owned by Gate Technology Inc.) one of the world’s leading exchange platforms. They do business in 130 different countries, and the exchange very well known for being a simple and safe place to trade in Bitcoins. It’s been around since 2013, and, from its beginning, it’s been offering hundreds of high-quality blockchain products, trades, and exchanges the world over. And now, it is supporting Tron’s migration wholeheartedly.

The migration means that all of Tron will go from the ERC20 token to TRX. Justin Sun (Tron’s founder and CEO, who is already being hailed as the next Jack Ma, Alibaba‘s founder), is the man behind the plan. This migration has been criticized by some, especially by Vitalik Buterin, of Ethereum fame, but it must be noted that Mr. Buterin has a bone to pick because as Tron’s move attracts new investors, Ethereum will be the main loser.

Once Tron’s Main Net is deployed, Tron will be the world’s largest blockchain currency if we go by user base numbers. It will be just as big as Ethereum and Bitcoin, but it has the potential to become an even bigger ecosystem. It already has a hundred million users and support from some very relevant partners.

A cryptocurrency that’s getting support from such big players should get your attention. Tron’s currency is relatively new, but it’s fast, reliable and holds a lot of promise. Bitfinex also came out in Tron’s support last week.

Besides the migration, Tron announced an Ethereum airdrop last April 21st to show their support for the subjected currency community. As I write this article, 4% of Ethereum users have been included in the airdrop.

Right after that Tron increased mining fees in order to motivate collaborators to increase transaction speeds even further (and Tron’s coin is already among the fastest in the market).

The airdrop produced a lot of excitement among Twitter users. It’s happening, they have good reason to be excited.

At this point in time, despite some fluctuations, Tron’s coin is still cheap enough to buy in bulk and chances are it will increase its value steadily during the rest of the year.

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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.

Image courtesy of Luke Jones via Flickr

Blogs

TRON Partnership Involves Cloud Computing

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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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Altcoins

Ravencoin (RVN) Surges Following Binance Listing

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While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.

About Ravencoin

Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.

Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.

Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.

Ravencoin got listed on Binance prior to MainNet launch

Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.

Getting listed on Binance has brought Ravencoin to the top…

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