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

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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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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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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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