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

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Tron

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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