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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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