Connect with us

Blogs

The Main Net: Tron’s (TRX) tenfold advantage

Published

on

Tron TRX Main Net
READ LATER - DOWNLOAD THIS POST AS PDF

Have you ever heard about Peter Thiel? If you are into entrepreneurship, this is a good guy to follow. He co-founded PayPal and the Founders Fund (that backed Bitcoin to the tune of 10-20 million last year). He’s been a crucial element in enabling many ventures to take off, some of them are now big players. He was, for instance, one of the first Facebook investors. 

Back then his stake was half a million dollars (10.2%) and right now Facebook is worth over five hundred billion. Just imagine that! These savvy business decisions are the reason why Mr. Thiel is now worth 2.5 billion.

Mr. Thiel has been regarded as a world leader and authority because of his business philosophy. It comes from a man who has actually walked the walk, not just talked the talk. Among his most famous ideas is the idea of competitive advantage. 

It’s about how companies can enter an industry and give previously established powerhouses a run for their money. Take the internet search engines industry, for instance. Google is king, for sure.

Microsoft has spent tens of billions in Bing trying to make a dent in Google’s armor and it’s been both expensive and useless. 

Google still retains about seventy-five percent of the world’s market while Bing usually gets users from Windows’ default settings in new PCs. Why is it that nobody has been able to compete with Google really? There are billions to be made by achieving that.

Because everybody else has lacked competitive advantage so far.

Mr. Thiel’s book, Zero to One, posits that new companies can enter markets in two ways. One way is just to avoid all competition by going for a new industry thus establishing themselves as a category of one (which was what Google was, for the most part, at the time it came online). 

But there’s another way. They can go into an established industry with established players (and beat them) as long as they have a product that offers a tenfold advantage

Now, tenfold doesn’t sound particularly subtle or elegant, so it doesn’t fit well into economic theories or MBA courses, but it offers a standard that’s easy to understand and assimilate. 

It just means that if you are the new kid in town and your product is not ten times as better as that of the companies who were in the field before you, then customers won’t have much incentive to prefer your product over theirs. 

Markets are arguably efficient enough to notice a product that’s even only ten to fifty percent better (this remains a controversial idea). The point here is that a product that ahead of the competition (even by just a smidge) will attract users and their money.

But real-life consumers do not have “perfect” information, and they don’t take “perfect” decisions either. Who really tries both Comcast and At&t for a full month before choosing which one is best? 

People tend to feel safe with the products and services they already know, and they like to stick with them. Making them change their mind needs for them to see an overpowering advantage in switching. 

Mr. Thiel illustrates his point in the book using solar energy as an example. So far it’s failed to bloom as most economists thought it would by this decade. 

Besides that, no company has been able to stand out from all the others as a better or cheaper option than all the rest. As a result, people keep relying on electricity produced by power plants and gas.

Tron’s tenfold competitive advantage

Mr. Justin Sun, Tron CEO and founder, studied entrepreneurship under Alibaba‘s Jack Ma and is well aware of the ideas presented by Mr. Thiel’s book and he’s taken them all into account in building and leading the Tron Foundation. 

Tron is indeed a category of one, for a start. It is a blockchain, it is a crypto coin, but their mission and scope are much wider than Bitcoin, Ripple, or any other cryptocurrency. Tron aims to use the blockchain technology to decentralize the web at full. 

In particular, they want to empower content creators so they can monetize all their content without any big corporation taking away from them even the smallest chunk. Tron is not about taking fiat currencies or the banking system head-on (as Bitcoin is), but about making the web more democratic. 

It’s not so much a threat for Bitcoin as it is a fantastic project worth investing in and keeping in sight. That is Tron’s tenfold advantage. So Tron is tackling the cryptocurrency world by being both a category of one organization AND having a competitive advantage. That doesn’t happen very often.

For the latest cryptocurrency news, join our Telegram!

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

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite