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

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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