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Tron’s (TRX) Main Net is only days away; incentives will drive its growth

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Tron trx main net growth

As Tron’s new Main Net launch gets closer and closer, Tron’s TRX has been at the forefront of a rally in the cryptocurrency exchanges, increasing in value more than twice since this March when it was at its lowest.

Let’s be careful, this incredible rise and the excitement that’s surrounding Tron in particular and cryptos, in general, owes something to just the usual speculation that goes on in every market, that’s just Economics 101. That being said, it’s also true that Tron has managed to create interest and expectations at a higher rate than most other currencies in the industry.

Mr. Justing Sun (Tron’s founder and leader) communicates openly with the Tron community and TRX investors frequently, so he’s been able to build huge rapport and loyalty between the organization, users, and investors.

This is exemplified most recently by the successful launch of the Test Net, just this March, which was a trial platform for the Main Net and worked so well that allowed the foundation to move the actual Main Net launch. It was initially scheduled to happen in June, but the success the trial has given confidence to users and developers to make it happen earlier, in May.

Because of the coin’s performance and Mr. Sun’s skillful PR, Tron’s TRX has achieved the esteem and recognition from the crypto-world community in general. They have also managed to establish regular relationships with investors and enthusiasts in which all parties concerned want TRX to succeed.

But not everybody appreciates Mr. Sun’s transparency all that much. Some detractors and skeptics have accused him of just using Twiter and PR to create hype and rise TRX’s value artificially. Yet, the fact remains that Mr. Sun has shown excellent skills and leadership and he’s found a way to put those skills to work and make TRX a considerable success ultimately.

Maybe we shouldn’t expect anything less from a graduate of Jack Ma’s University, a former collaborator, and long-time protegé. It’s even rumored Mr. Jack Ma could get involved with Tron because of the close personal relationship he has with Mr. Sun. Tron’s founder has been delivering on every promise lately, so it’s hard to understand how that could be called “just hype”.

And now he’s taking advantage of the great news and success Tron has had over the last few months to bolster a new marketing strategy that’s more nuanced. This new approach clearest example is Tron Foundation’s Project Genesis, which features a two billion dollars payout targeted towards developers, so Tron’s development is guaranteed through incentives and rewards.

Incentives: You reap what you sow

Tron’s current transition process is one that will change the foundation and the coin for good. For most of last year and this year’s beginning, it was price speculation that made it grow, at least in part. By January, TRX’s growth rate was at 15000%.

That remains their all-time high which made it one of the biggest winners by the 2017’s end. But Mr. Justin Sun and Tron Foundation have learned that leaving speculation alone to account for the coin’s momentum is not a good long-term goal, as the drop it experienced in March showed only too clearly.

That March’s experience taught the Tron team to proceed to support their coin in more nuanced ways than Twitter posts and grabbing headlines. It will be all about incentives that can increase the interest and development that will turn Tron into an industry leader.

Mr. Peter Diamandis, the founder of the X-Prize, knows only too well what Tron is going through and he’s come up with a rule that summarizes the situation: “Companies don’t get what they want, they don’t get what they deserve. Instead, they get what they incentivize.” It seems Tron has learned this lesson.

The reward pool for Project Genesis is just huge. It targets core developers for the Main Net platform and the incentives it’s offering them are massive. They will spend two billion dollars on incentives that will reward several ongoing projects relevant to ensure the coin’s technology further development.

The primary goal is to gather support for TRX application development once the Main Net is already launched. The incentive program includes several attractive features such as a bounty program that will reward the Main Net system debugging efforts, a loan project (which already came up with a 100k loan last week) to encourage TRX innovation, and some other, smaller, monetary compensations for community members that help with Tron’s name development.

TRON and Top Level Utility

Tron’s Main Net and new technology will not be just aimed at supporting a cryptocurrency, but it will be a full application development platform aiming to be the world’s most versatile platform based on the blockchain. This means that it’s not enough for the Main Net to go online, there must be apps available so that its advantages become clear to a wider user pool.

And that’s what all those incentives are meant to achieve. The features promised for the Main Net are already quite impressive, of course. No fees, a scalation capability that could manage more than ten thousand transactions per second, the ability to create new currencies based on this blockchain.

So if you’re at all familiar with the crypto world, you’ll notice that this kind of thing is already available through Ethereum and the ERC-20 blockchain, except Tron, is aiming much higher in terms of versatility and performance.

Tron has already achieved the industry-leading powerhouse status. Maybe the price won’t soar too dramatically over the next few weeks but what you have to keep in mind is this: Tron is going for long-term growth and exponential rates of adoption. And they might just get it right.

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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.

Image courtesy of Pxhere.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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