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.
— Justin Sun (@justinsuntron) May 20, 2018
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.
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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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