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

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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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…

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