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Here Is How BitTorrent Is the Golden Goose for Tron (TRX)

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Tron

At the backbone of the philosophy of blockchain technology and cryptocurrencies is decentralization. Before the popularity of the two aforementioned industries, no other peer-to-peer network exemplified decentralization as well as the BitTorrent sharing platform. It is no wonder Justin Sun and the Tron (TRX) Foundation acquired the company just a few weeks ago. Also to note is that BitTorrent has been mentioned 8 times in the original Tron (TRX) Whitepaper.

So how will BitTorrent become the Golden Goose for the Tron (TRX) project?

To begin with, BitTorrent was a pioneer in distributed computing. The platform uses a file sharing mechanism that increases download speeds by sharing files in chunks or pieces. The pieces are gathered simultaneously from sources held by individuals who allow the network to access the files in their machines which are part of the Peer-to-peer network. This means no single machine can disrupt the availability of content by being offline. Others in the network with the content will continue to make the content available.

The network already has millions of users and the Tron Foundation can tap into this user base through incentives. The most likely incentive will be financial and in the form of TRX. As a result, these machines that are already in the BitTorrent network will further the decentralization of the web as envisioned by Justin Sun and the Tron Foundation.

The BitTorrent network will enable the storage and sharing of digital content on the blockchain. When any new digital content is created in the Tron Network, it will be stored in a manner similar to that of BitTorrent. This will make access faster and a matter of gathering the files for download as is the case with the existing BitTorrent platform. Users in the network can be given incentives to store this digital content and keep their access open at all times. This will further reduce the need for huge centralized servers to store all the digital content and even further reducing the energy consumption of the Tron Network.

There is also the over-the-top possibility of eventually implementing sharding in the Tron Network through the existing BitTorrent network. The concept of sharding has already been showcased by the Zilliqa project with the Ethereum foundation also exploring means of employing sharding to solve the scalability issues on the platform. Perhaps all that is needed is a tweak in the code of BitTorrent to employ sharding.

Justin Sun has even hinted on a secret project starting on the 30th of July and after the launch of the Tron Virtual Machine. Will this secret project be sharding?

In conclusion, the acquisition of the BitTorrent company and its corresponding platform, catapults the Tron Project a few steps further than even Zilliqa and Ethereum. It does this by having a ready peer-to-peer network where the current users can be given incentives to assist in the storage and access of newly created digital content on the blockchain. There is also the possibility of the Tron Foundation eventually introducing sharding through the integration of the BitTorrent network.

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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