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
TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
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Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
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