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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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