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Reasons Why This Year Is Going to be Lucrative for True Chain Holders

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True Chain

With the continuous downfall of Bitcoin and other cryptocurrencies dependent on it, new and slightly unfamiliar cryptocurrencies are making inroads in the market. Bitcoin, despite having the greatest market capitalization as well as being the most popular cryptocurrency to date, is losing the confidence of many traders across the globe due to its capricious nature. Also, there are many alternatives available at the moment offering a very convenient blockchain platform along with a faster and cheaper transaction system than that of Bitcoin. Manifestly, the center of interest among the traders is gradually shifting towards other Altcoins with ingenious new features.

To survive in this highly competitive market with a decent price and market cap, a digital coin has to offer something absolutely Sui generis feature which cannot be found in any other currencies. Nowadays, the blockchain technology is making its mark in diverse industries including sports, entertainment, business, etc. and True Chain (TRUE) is no exception. This cryptocurrency was introduced to the market in order to offer their users a blockchain technology that can be helpful to numerous business communities by supporting a commercial application that demands quality performance. Here, a few aspects of this currency would be discussed to elucidate why TRUE holders can expect a lucrative 2018.

True Chain’s Technical Architecture:

True Chain began its journey as a legitimate cryptocurrency token on January 23rd of this year. Since then, it has been grabbing the attention of myriads of crypto-traders and connoisseurs across the globe because of its technology. True Chain has a very efficient development team that makes upgrades continuously for making the blockchain system even more effective and convenient. Roughly, the technical architecture of this currency can be divided into:

  • Hybrid Consensus Mechanism: The consensus mechanism separates the public chain from the private and alliance chain. The mechanism must be decentralized and fast to ensure efficacy as well as security. True Chain developers use a combined mechanism of Bitcoin’s proof of work (PoW) and PBFT (Practical Byzantine Fault Tolerance). This hybrid ecosystem has made the mutual transformations among these three types of chains possible. Both PoW and PBFT mechanisms help in strengthening the backbone nodes of this cryptocurrency.
  • Smart Contract: The smart contract is a very popular technology that is used by several cryptocurrencies including big guns like Ethereum. In case of True Chain, the smart contract is implemented by following the EVM (Ethereum Virtual Machine) architecture along with launching TVM on PBFT. The TVM is implanted into each backbone node enabling them to process various requests depending on individual desiderata.
  • Contract Abstraction Layer: This layer helps the developers to create complex smart contracts in a relatively easier and simplified manner. This layer abstracts the basic business logic in the abstracted smart contracts.

The Key Features of True Chain:

Because of its ingenious technology, True Chain is capable of offering several advantageous features to their holders. Some of them include:

  • Support for Infinite Nodes: As mentioned earlier, True Chain is a combination of both Proof of Work and Practical Byzantine Fault Tolerance mechanisms. The proof of work is capable of supporting an infinite number of nodes. As a result, commercial applications like instant messaging software programs, bilateral trading platforms, e-commerce websites, etc. are able to successfully run their application on this public chain.
  • Security: Because of the PBFT mechanism, all members of True Chain can actively participate in decision making. The PBFT offers a completely decentralized blockchain platform that can be accessed and maneuvered across the globe by the community members. Therefore, the chances of data tampering become very low due to incessant monitoring. Also, the PBFT members are re-elected after a certain period of time to maintain blockchain integrity.
  • Incredible Speed: The PBFT mechanism can support a vast range of transactions (10000- 100000 TPS) per second. The smart contract enables the ledger to record each of those transactions chronologically and accurately. Hence, there is no doubt about the quality performance of this blockchain ecosystem.
  • Free Service: True Chain offers a free transaction service to all of their users across the globe which makes it one of the least expensive blockchain payment methods of the world.

True Chain in Various Applications:

True Chain has been accepted in several professional areas for its high scalability and efficiency. Some of these areas include:

  • Insurance
  • Medical care
  • Digital advertising industry
  • Online gaming
  • Micropayments
  • Value transmission
  • Digital copyright
  • Security of assets
  • Public welfare and many more

Current Condition of True Chain:

Despite a slow start, both of True Chain’s price and market capitalization are going up at a brisk pace. At the moment its price is equivalent to $3.21 along with a market cap of nearly 150 billion USD (as of 15th May 2018). It currently holds the 116th position on Coinmarketcap.

Conclusion:

If we closely study the price trend of True Chain, we would see that this cryptocurrency has made tremendous progress in the past few weeks. Their efficient development team is also making new updates indefatigably. If this indicates the future of this digital coin, the True Chain holders can be hopeful about making a considerable profit by the end of this year.

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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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