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Reasons Why the Past Week Might be the Turning Point for TRON This Year

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Tron
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TRON has been one of the most prominent and well-performing cryptocurrencies this year. Despite the fact that this currency is still a long way from completing a whole year as a legitimate and tradable cryptocurrency, TRX has managed to outperform a significant number of digital coins, among which many were tokenized a long way before TRON. According to the crypto-connoisseurs, the main reason behind TRON’s such nonpareil popularity concerns its area of focus, i.e. the entertainment industry. Instead of providing the prosaic facilities offered by other coins, TRON offers a platform where traders can access various entertainment contents without the interference of Google or Yahoo.

This currency belongs to the rare category of digital currencies that maintains constant communication with the traders around the world through weekly reports and whitepaper updates. As a result, anyone bearing the slightest interest about the blockchain technology and cryptocurrencies was anticipating the pivotal event of TRON’s mainnet launch, more precisely the release of version Odyssey 2. The well-anticipated event finally took place as scheduled on 31st May 2018. However, apart from this event, TRON’s ecosystem has undergone several other changes in the past few days as well.

Here, all of these significant developments would be discussed in brief elucidating the fact why the previous week might act as a major turning point for this currency’s upcoming ventures.

Technical Developments:

It is well known to the TRX holders that TRON’s technical architecture consists of three principal entities namely the structure, the consensus, and the wallet. TRON developers work distinctively on each entity to make sure that they are properly functional. The technical updates for the past week include:

  • Structural Updates: Because of the mainnet launch, the TRX development team put their concentration on debugging the system. Almost every coin in the cryptocurrency market suffers from unwanted compilation errors or bugs. TRON’s team has been taking this matter very seriously since its tokenization. During the last week too, a significant amount of work was done regarding the stress tests and debugging in order to ensure the timely launch of mainnet.
  • Consensus Updates: TRON’s consensus has undergone a considerable amount of change in the previous week. The development team successfully completed the bandwidth paradigm on which they had been working on for several weeks. They also finished the scheme for preventing malicious account creation. However, testing the germane codes of the consensus and the job of finding and terminating potential bugs is still in progress.
  • Wallet Updates: TRON’s team has been working on various aspects of wallet account over the past few weeks. In the previous week, they have finally managed to implement length limitation to the account name for the traders’ convenience. Also, test tools were used successfully while the test coverage was checked. Also, unit tests were added to the TRX wallet in the past week. As for the developments in progress, TRON’s development team is nearly finished with their work wallet support and test key-store.

Community Updates:

Now the mainnet launch is completed, the TRON community is eagerly awaiting another major event which is likely to be arranged in this month. The event was promulgated as the Super Representative Election to the traders across the globe. Since the announcement of this event, several renowned companies have been enlisting their names to include themselves in TRON’s venture. In the previous week too, some major names of this crypto-world were enlisted for this election. Some of these names include BitcoinWorld (A renowned blockchain based internet finance company), Top One (an organization endeavoring to establish a comprehensive cryptocurrency platform), Gifto (a decentralized gifting protocol and strategic partner of TRON). Furthermore, right after the release of mainnet i.e. on June 1, TRON announced a bug bounty programme for traders worth $10 million.

Team Updates and Partnerships:

TRON’s development team welcomed a new member last week. Taihao Fu, a talented engineer who previously worked for IBM joined the TRX development team. TRON’s team is hopeful about putting his prowess in big data development into full use.

As far as the partnerships are concerned, a significant number of exchanges and other organizations announced their wholehearted support for TRON in its upcoming ventures. Some of them include:

  • OKEx: On May 28th, OKEx announced its support for TRON’s token migration and blockchain upgrade.
  • Huobi Pro: Like OKEx, Huobi also announced its wholehearted support for various blockchain upgrades of TRON on May 30.
  • CoinTiger: CoinTiger is one of the recent partners of TRON and announced its support in TRON’s venture.
  • Other Exchanges: Besides these three, Lbank and OEX also made announcements on supporting TRON.

Current Condition of TRON:

As of 5th June 2018, TRON holds the 10th position on CoinMarketCap with a market capitalization of $3.9 billion approximately and a price tantamount to nearly $0.058. As expected, the launch of Odyssey 2.0 has made an immediate impact on TRON’s price chart and the speculators are expecting a massive surge soon.

Final Thoughts:

TRON has been the cynosure of cryptocurrency market since its inception and it has managed to complete every step according to its whitepaper so far. As per their elaborate plan spread over the next five years, the launch of Odyssey 2.0 is just the beginning. Hence, if everything goes the way it is going currently, the previous week can provide the stepping stone on which Tron is likely to become a leading cryptocurrency of the market.

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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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Altcoins

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

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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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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