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DEXON (DXN) – The Ideal Solution for Hosting Enterprise-Level DApps

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With the business landscape becoming more competitive than ever, executives are in an arms race to take their businesses to the next level.  Often, that involves corporate leaders studying the latest and hottest technologies and applying it to their own businesses.  Right now, one of the biggest buzzwords in business is blockchain.  While blockchain has a tremendous amount of potential, it’s not without fault.  DEXON (DXN) is a next-generation distributed ledger technology that attempts to solve the blockchain trilemma: decentralization, security, and scalability.

Background Information

DEXON was launched in 2018 by Popo Chen, the co-founder of 17 Media, and Wei-Ning Huang, a former Senior Engineer at Google Taiwan.  The distributed ledger technology uses cross-cutting, interdisciplinary elements from cryptography, applied mathematics, and computer science theories to improve the well-documented shortcomings of blockchain.

The testnet was released in November 2018 which has since reached 12,000 TPS with fast finality.  Previously, the fastest cryptocurrency was Ripple (XRP) at approximately 1,500 TPS.  The success was extremely impressive, and even more so, now that DEXON’s mainnet launched on April 25, 2019.

DEXON Value Proposition

One of the most important aspects of evaluating new technology is to look at the value added.  Examining the key features and benefits of the technology is a must.  These are a few of the positive features of DEXON:

  • Reliability: High throughput, fast finality, and a high level of network partition tolerance.
  • Fair: Solves miner centralization issues because everyone has an equal chance to propose blocks.
  • Friendly: Provides the most developer-friendly programming languages, such as EVM and SQLVM.

Additionally, there are six key benefits that users should be aware of:

  • Decentralized: VRF-based sortition algorithm is applied to a subset of nodes as block producers.  This allows scalability to thousands of nodes without compromising performance.
  • Fast Finality: Consensus algorithm confirms transactions within 1 second.
  • High Throughput: 10,000+ transactions per second.
  • Low Cost: Efficient algorithm eliminates the need to deal with PoW.  Because of the energy savings, transaction fees will be negligible.
  • Secure: Mathematics have proven the DEXON algorithm to be ultra-secure.  The network cannot be attacked by Byzantine nodes.
  • Unbiased Randomness: For each block in the consensus layer, a completely random seed will be created.

Ideal Solution for Decentralized Applications

Because of DEXON’s ability to improve upon blockchain’s weaknesses, namely decentralization, security, and scalability, this technology serves as the ideal solution for decentralized applications, more popularly known as DApps.

When looking at DEXON’s strengths, it becomes quite apparent which type of applications would benefit from integrating distributed ledger technology into their platforms.  The first that comes to mind is online gaming.  With the U.S. recently approving gambling, there is sure to be a rush of startups hitting the market.  We’ve already seen several Bitcoin-based offshore books, like Nitrogen Sports, flourish.  DEXON’s high throughput and randomness are two of the key features that online books will be looking for.

Another application that would benefit from DEXON’s technology is a digital assets exchange.  With all the hacks that have occurred at exchanges over the past few years, most recently Cryptopia, incorporating technology that is secure, fast, and low cost would seem to be the prudent strategy.  In fact, according to DEXON’s roadmap, a decentralized exchange protocol is slated for release during the 3rd quarter this year.  This will allow anyone to build a decentralized exchange on DEXON.

Conclusion

There is no doubt that blockchain has taken the world by storm.  While the benefits are obvious, the technology still has a long way to go before it goes mainstream.  In the meantime, it’s really encouraging to see promising technology, like DEXON, attempt to make improvements.

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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

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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