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Major Shake-Up of Crypto Landscape Expected By Tron-USDT

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Tron-USDT

The feud between Justin Sun and Vitalik Buterin has been very public and the leaders of Tron and Ethereum respectively have been at each other’s throats from the day Tron announced its own mainnet. Recent evidence seems to point to Sun getting the better of Buterin for the time being, particularly in the areas that Sun said they were looking to make the greatest impact. These areas are dapps and smart contracts.

USDT could be what puts Tron truly ahead of Ethereum

While Tron has been making waves in the dapp sector, outpacing Ethereum to gain an extensive lead with the number of active users. Tron has boasted that they have over 267 thousand active users, which makes the Ethereum (151000) and EOS (197000) numbers pale in comparison. These aren’t numbers that are received by internal surveys though, they all come from a trusted third party site called DappReview. Following on from the acquisition of BitTorrent, the number of users that Tron has could catapult into the hundreds of millions.

Then there has been the launch of USDT on the Tron mainnet. USDT is a stablecoin that is backed by dollars. One USDT, one dollar. It retains a stable value because it is backed by a stable currency – the most stable in fact. Hence the term stablecoin. Due to the currency being pegged they can act as a fantastic medium of exchange on the extremely volatile cryptocurrency markets while at the same time being traded back and forth much like other cryptocurrencies.

USDT has been relaunched on the Tron mainnet and it is going to be using the TRX20 token protocol. Sun is looking to use the partnership to allow the cheap, quick cross-border transfer of monetary value and it is all going to be on his network. Blockchain is cheap, fast, secure, reliable and decentralized. Killing off the volatility of other cryptocurrencies is key to making a token useful as a means of payment.

What could it be good for?

Having the option of a US Dollar backed token on the TRX framework will give P2P payments a lot more validity should they be done over Tron’s network. Remittances will be far faster than ever before and cost a lot less. Many people all over the world send money to families in developing countries. Someone earning thousands of dollars can totally change the lives of their family by sending $100 to their homeland.

The problem with that is the cost. Many services (banks, Western Union) charge a hefty fee for sending money. They use outdated systems that are not built for this modern world. It is the biggest driver of blockchain adoption in the world and Tron is looking to get in the game big time. Other uses could be payments for entertainment (particularly with the buying out of BitTorrent), microfinancing and crowdfunding. All these activities will be made much easier now that there is a stable store of value on the Tron network.

Shadows behind the scenes

there are problems with Tron, however. Many in the crypto industry see him as a single point of failure and laugh when anyone mentions that Tron is a decentralized network. Many believe (rightly) that it is in fact far too centralized. There is also the quirks of the CEO to take into account. He was recently made to look a fool by announcing a partnership with Liverpool FC, only to have spokespeople who were asked for comment to reply with “What is Tron?”. If he can calm his leadership and show that Tron is serious about decentralization, then we might have a winner on our hands.

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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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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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