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EOS MainNet Faces its First Glitch

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EOS
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The newly-launched EOS MainNet faced its first technical glitch on June 16th, which resulted in a complete halt of the MainNet. Luckily, the bug was resolved after several hours, and the network is now back and is functioning as expected.

EOS MainNet returns after a small break

Soon after the Block Producers elections, the MainNet of EOS, which was recently launched, started experiencing its first problems. Due to a certain bug, the entire network was forced to a stop, with the community being asked to downgrade to a previous version, after shutting down all of the nodes.

With the nodes being on standby, the block producers held a conference call during which they tried to resolve the issue. The meeting took almost an hour, during which the members decided that the nodes needed to be disabled, despite the fact that they were still backing up the important data.

Their progress was regularly updated on Telegram channel by the name of Mainnet Status, and one of the updates stated that the issue might be caused by the method of handling the deferred transactions. Luckily, one group soon found what was causing the problem, and have immediately started working on a fix, which was implemented five hours later, when the chain finally returned.

Blockchain goes through a rough start

Despite the fact that the team behind the blockchain responded quickly and efficiently, and that the problem was taken care of after only a few hours, many were disappointed by this performance. Several posts on Reddit stated that the team did not do a proper work while testing the MainNet, and that EOS is still a long way away from becoming the “Ethereum killer” that everyone was expecting.

Some users supported the team through their posts and tweets, saying that the team did manage to resolve the issue quite quickly. Many other major companies took days to fix their bugs, while EOS’ got back on track after only a couple of hours.

Regardless, this is not the best start for a crypto project of this size, since this bug led to a downtime that probably disabled thousands of transactions. Such a bad start only adds bad impression that was already there, since the launch already took almost two weeks to make sure that the blockchain is functional and stable.

Some critics even blame the decision to let the community take the reins. Still, the network is up and running again, but there are obviously issues that have yet to be discovered and fixed. This was also hinted at several days before the official launch on June 14th, when the developers prepared more than $100,000 for bug bounty claims.

Despite all of this, EOS still has a lot of supporters and believers in its community. Even though the start was not the best, there is yet hope that the blockchain’s issues will be properly handled, without further incidents.

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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

A matter of time before TRON (TRX) achieves mass adoption

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TRON
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Tron (TRX) has all its eyes on decentralizing the internet, or rather content-sharing to ensure that creatives, artists, musicians, and authors can all release their content without the need of middle companies. As it seems, Tron’s founder hopes that the coin will challenge the globe’s major content providers like Facebook and YouTube.

The coin has undoubtedly made progress since its launch from a coin offering on the Ethereum ledger platform to now a native coin present on the official Tron Mainnet. If you think launching the independent MainNet is all Tron wanted to achieve, you are mistaken.

The aim is towards mass adoption as well as creating a decentralized web. Yeah, it is a  fact that in the past weeks TRX has experienced price declines, but currently, the cryptocurrency is riding 5.37% hike against the USD in the last 24 hours (remember most of the other top coins including Bitcoin are in red).

It’s also continued succeeding in attaining quality listings such as the Bittrex (to name one of the most recent ones). Therefore, it seems as every step TRON makes is a sign of progress to make the decentralized web a reality.

How TRON (TRX) is Making Mass Adoption a Reality

The primary objective for TRON (TRX) is to create a decentralized web which will be a representation of the internet’s next generation. Therefore, in making that a reality, the largest file-sharing platform, BitTorrent that has over 100M global…

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Altcoins

Hyperion-Stellar Partnership Finalized — Support For Stellar’s Crypto Assets Trade About To Arrive

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Stellar
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Hyperion and Stellar: A new partnership

According to a recent announcement by Global Blockchain Technologies Corp., it would seem that the known crypto exchange Hyperion has finally made an agreement with Stellar (XLM). The new partnership is to allow Stellar’s own crypto assets to be traded on Hyperion’s platform. This move is expected to significantly impact Stellar’s price and spread awareness of the coin and its goal even further.

Hyperion uses an alternative trading system (ATS), which was licensed by the SEC. As a part of this arrangement, previously attained via investment in DBOT (Delaware Board of Trade), Hyperion has permission to also operate as a broker-dealer. It is also expected to become North America’s first advanced security token exchange.

As many are already aware of, Stellar is a trading protocol that is used for issuing, exchanging, and transferring digital assets. It works with several other cryptocurrencies, but also with fiat currencies like the USD. Additionally, Stellar also works even with some commodity assets, like gold.

Stellar’s goal is similar to that of Ripple, at least when it comes to enabling faster and better cross-border transactions. While Ripple focuses on providing its services to banks and financial institutions, Stellar aims to provide these services to individual investors. Thanks to this, Stellar has received a lot of attention and praise from individual investors, as the general interest in cryptocurrencies grew.

Why is this partnership important?

By joining Hyperion’s…

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Bitcoin

Bitcoin Volume Improves — Is A New Bull Run About To Start?

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Bitcoin volume
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After more than half a year of price drops and losses in value, Bitcoin’s price has finally demonstrated signs of stability. For weeks, Bitcoin managed to remain above the price of $6,550 per coin, which was followed by a small price surge that has allowed the coin to reach $6,600.

Not only that, but Bitcoin’s volume also saw a 12% increase that has taken it from $3.2 billion to $3.6 billion according to CoinMarketCap. While this state of the market did not include all the altcoins, with some of them even experiencing losses, the situation regarding Bitcoin did look promising.

However, the new situation has changed that, as both investors and analysts woke up to the news of crypto prices going down.

Bitcoin volume predictions

Cryptocurrency analysts around the world have been predicting that the recently-balanced situation regarding Bitcoin and many altcoins will not last. While some believed that Bitcoin volume will go up, others have been claiming that it will drop once again, as it has finally happened.

At the moment, Bitcoin has managed to drop below what was recently believed to be its bottom, with a new price being at $6,297. Instead of reaching milestones such as $6,800, and then $7,000 mark as many have hoped, BTC actually dropped by around 6%.

For a while, Bitcoin has been showing signs that it is ready to grow once more. However, the trouble once again lies with the…

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