As the crypto market continues to try and find a footing in terms of stability, the team at Zilliqa (ZIL) are continually making progress with respect to on-boarding teams for Decentralized Applications on the future MainNet that will be launched on the third quarter of this year.
In the communication via the official Telegram Channel of the Zilliqa project, two Decentralized Applications will be created on the platform.
- Spokkz – www.spokkz.com
- Bolt – http://bolt-token.global
The first DApp, Spokkz, is a community-driven film and TV blockchain ecosystem that is an initiative of Spuul. Users will be able to view, vote, fund and support their favorite media projects in a decentralized system and marketplace. This way, no one network has sole authority over airing a media production or even canceling it. We are all aware of instances where networks have canceled shows much to the protest of loyal viewers.
The project aims at cutting the monopoly of the large studios and associated middlemen who impose their will on the viewers. The concept is based on crowdfunding, as earlier mentioned, where viewers will join producers, content creators, distributors, stars and advertisers as equal shareholders.
The second DApp, Bolt, also aims at cutting out the middlemen that mark up the cost of having media content accessible to the end user. Bolt will be an Open Entertainment Economy. BOLT users will trade tokens with other users and content providers in exchange for content and other services such as data and education resources.
The Zilliqa MainNet will be ideal for such projects since the platform is scalable, secure and revolutionary through the use of the easy to use Scilla Programming language. The current version of the TestNet has impressed by handling up to 2,488 transactions per second using 6 shards and 3,600 Nodes. This speed will be ideal for handling decentralized media content.
The team at Zilliqa is currently preparing the release of the next version of the Testnet with the current roadmap still on course to release the MainNet in the third quarter of this year.
With respect to the price of the token in the crypto markets, the token has been affected by the momentary turmoil due to the events of the Coinrail hack and 4 exchanges being investigated by US Authorities. ZIL is currently trading at $0.086 and down 12% in 24 hours. However, the mood and feel are that the current conditions are only temporary and will only last for a few more days.
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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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TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
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