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Reasons Why the Past Week Might be the Turning Point for TRON This Year - Global Coin Report
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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, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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Blogs

Crypto Market is Not Free from the Bearish Trend Yet

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bearish
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Investors and traders are still speculating over the bullish trend that shook the market this past seven days. However, amidst the joy of the price hike in the industry, some people are still cautious. A crypto trader with the twitter handle of BTC_Macro is advising other players in his tweet to be careful. According to him, the bearish cryptocurrency market is not over yet.

In the tweet, the user admonished players in the market not to listen to the people saying that the bears have given up. It went further to say that Bitcoin may still plunge uncontrollably anytime even if it breaks the $6K mark. When this occurs the twitter user continues, any scenario may occur. The advice is that players in the crypto market should be on the neutral side. According to the user, it is not safe to be on the bullish side or the bearish side. Instead, players should be on their toes without bias.

How Trader reacts to price movements

Over time, it has become evident that many traders usually go against the market majority during bearish or bullish trends. Well, there is usually some logic backing up the reactions.

It is true that we have seen the longest bearish trend in the history of cryptocurrencies. Everybody who has a stake in the crypto market is expecting the day of the bull’s rise…

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Altcoins

The Interoperability Problem of Blockchain May Soon Be Over

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Kardiachain
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Crypto traders have certainly had a rough time since early 2018. The markets have tanked resulting in large losses for nearly everyone involved in the market. While that’s bad, what’s even worse is the fact that many projects have failed to deliver on their roadmap. Blockchain technology has been hailed as the next great advance in technology. And while many companies are making strides toward fully implementing blockchain-based technology, there is still a long way to go. As promising as blockchain technology is, there are still limitations that need to be addressed.

Limitations of Blockchain Networks

Although blockchain technology is certainly the future, the existing technology will need to be improved before it can go mainstream.  A few of the current limitations include:

  • Limited Scalability – Blockchain networks have consensus mechanisms that require each node to verify a transaction. This verification requirement slows down the network and limits the total number of transactions that can be processed.
  • Limited Usage – Each blockchain network was created with specific usage in mind. Because of the limited number of use-cases, each network eventually suffers from a never-ending loop of limited adoption. In the end, this causes low awareness.
  • Lack of Interoperability – At present, individual blockchain ecosystems are unable to communicate with each other. If a blockchain network attempts to retrieve information from an external (outside the “chain”) source, each node would have to…
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