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Reasons Why TRON (TRX) Could Become a Suitable Social Media Alternative

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Amongst a large number of cryptocurrencies that exist in the market at the moment (circa 1800), TRON has been making its mark since it was first tokenized after raising a considerable amount of money as an ICO (Initial Coin Offering). As of this moment (March 22nd, 2018), TRON holds the 14th position on Coinmarketcap.com, with a market cap of nearly 2.5 billion USD. Hence there is no doubt about the amount of popularity this cryptocurrency was able to achieve since its introduction to the market a few months ago.

The main objective behind the development of TRON was to bring a radical change in the world of online media content by offering an ingenious decentralized platform that uses a combination of blockchain and peer-to-peer technology and makes entertainment contents around the world accessible to its users. In a world, where the entertainment and online media consume a large portion of an individual’s life, this initiative taken by TRON was deemed to be extremely effective.

Social media platforms like Facebook, Twitter, Instagram, etc. have become an inextricable part of human life nowadays. But still, all of these platforms are unable to cater to all of the requirements to their users. TRON’s blockchain protocol, on the other hand, aspires to be a perfect and an unimpeachable alternative to these websites. Here, a few aspects regarding this cryptocurrency would be discussed which will help you figure out why TRON can become a suitable social media alternative.

Collaboration with Gaming Industry:

Even before it was tokenized, the developers of TRON mentioned about its inclination towards gaming platforms and technology in its published whitepaper. According to this whitepaper, TRON is likely to develop an ingenious gaming platform in its fifth stage named Star Trek. The gaming platform would be similar to Augur, another well-known gaming platform. However, in its current Exodus stage, this cryptocurrency is collaborating with various gaming industries to strengthen its grasp on the cryptocurrency market.

  • Collaboration with BitGuild: Among the recent events, TRON involving itself in a strategic partnership with the renowned gaming industry BitGuild has made a pivotal impact on the entire market. The main objective of this strategic collaboration is to offer the TRX holders a sui generis combination of blockchain and gaming platform that they can use to purchase in-game items safely. This partnership is also likely to provide the opportunity to regain the ownership in the virtual world of gaming. The announcement of this partnership had an instantaneous impact on TRON’s individual price and market capitalization. If this collaboration lasts, it can make TRON’s position nearly unassailable in the world of entertainment and gaming.
  • Partnership with Xu Le and Game.Com: On January 3rd, 2018, TRON’s founder Justin Sun first announced the news of this partnership on his personal Twitter account. Both of these gaming portals are dedicated to growing the overall gaming industry through the usage of various cryptocurrencies as a valid medium of transaction and payment. As a result, the blockchain technology of TRON and its cryptocurrency TRX have been extremely compatible to both of these platforms. Because of this partnership, the utility of TRX among gamers has increased considerably.

Due to these partnerships, the transaction of TRX token could have implication through the entire network in future. Being successful at a certain stage of a game could lead to winning rewards and carrying them over to other stages of the game. In consequence, both transaction and the circulation of this cryptocurrency would escalate significantly.

Digital Ownership and Media Publications:

Besides taking initiatives to make useful contributions to the gaming world, this blockchain protocol is also gradually bolstering its grip on media publication. It endeavors to make media contents like scholastic publications, online books, pictures, videos, and much more accessible to its users by creating a constant network for direct publication and direct ownership. Furthermore, TRON can also be used for academic endeavors as well. Educational institutions can use this cryptocurrency for online courses and classes for the betterment of their students.

Vis-à-Vis with Social Media:   

Recently, Facebook, a social media giant banned all cryptocurrency ads from its platform as an initiative to avoid scams and other malicious activities. Google followed the same path as well for similar reasons. TRON’s development was based on providing an alternative solution for popular websites like this. With an efficient technical team behind its development, TRON is likely to combine three essential entities such as a commercial transaction, distribution, and social sharing for its users all around the globe. As for the recent security concerns, TRON’s platform has proven to be impregnable for hackers unlike other cryptocurrencies in the market. Although it is impossible to foresee the future of any digital currency because of the market volatility, from the above factors, it can be concluded that TRON has certainly the potential to become a David against the Goliaths like Facebook or Twitter.

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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.

Image courtesy of visioncreation.co.uk

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. One of the ways to have a successful…

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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…

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