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Reasons Why TRON (TRX) Can Rival, and Potentially Surpass Ripple (XRP)

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TRON

Rivalry in business has never been that much of a bad thing. Most of the time, it pushes the rivals to their limits, with each of them trying to become better and come out on top. The same goes for the world of cryptos, and this time, we will take a look at how TRON (TRX) rivals with Ripple (XRP).

TRON vs Ripple

For most of its “life” TRON was mostly compared to Ethereum (ETH), due to the underlying tech of the currencies. Lately, however, a new rivalry has been hinted at, and this one puts TRON against Ripple.

The two are not exactly traditional rivals, which is obvious once you take a look at what they are trying to achieve. Ripple’s aim was always at financial institutions and major banks, and its goal was to become the crypto of choice for entities belonging to this category. TRON, on the other hand, has been focusing on doing the same, but in the sphere of the digital entertainment industry.

However, even with their focuses being in entirely different fields, these cryptos seem to be a lot alike when it comes to certain sets of features. Since Ripple’s development came first, it is more than obvious that TRON’s team has done things in a similar way on purpose, by being inspired by Ripple’s methods.

Some of these similarities include low-to-nonexistent transaction fees, great transfer speed, significant liquidity, as well as scalability. Because of this, many are expecting TRON to go as far as to replacing Ripple.

Why do we expect so much of TRON?

With TRON’s successful launch of TestNet, as well as its launch of MainNet only a few days ago, it is obvious that TRON is advancing. Its current price is at $0.060717, and it has yet to rise following the launch of the MainNet. However, there are several other reasons why this currency is expected to succeed Ripple, and become an even bigger name in the world of cryptos.

The first reason for this is its market utility. Ripple has been known as an industry leader when it comes to offering utility and has managed to hold its own, while many other cryptos have not been able to come anywhere near its heights. Its transaction fees were only a fraction of a penny, which has made Ripple very popular crypto for making transactions.

However, TRON has managed to come very close to matching this achievement, and it will only continue to improve, now that the MainNet is live. Other than that, it is important to remember that TRON is created so that it can scale. It offers over 1000 transactions per second, which will become one of the most important features after the prices finally stabilize, and we are able to go beyond that issue. Add to that the fact that transactions are basically free, and TRON will easily become one of the best methods of sending money.

The second reason for TRON’s rise is the fact that it has found its own industry where it can dominate. While XRP has been concentrating on banks, TRON went for digital entertainment. This was a smart decision, considering the popularity of gaming around the world, which has been on the rise for decades, now. Another smart thing that TRON did is choosing an industry and sticking to it, instead of trying to tackle as many as it could at the same time.

The third reason includes the confidence that the crypto is getting from its parent company. For XRP, that is the company Ripple. It owns and controls the crypto, and it doesn’t allow anyone else to mine it. Due to its reputation and business strength, the price of XRP has been a bit more stable than those of other cryptos. At the same time, the banks decided that it is worthy of their trust.

TRON, however, can use the same method of verification thanks to Justin Sun, and the TRON Foundation. Sun has been more than just TRX’s creator. He has proven to be an invaluable asset to TRON and was directly responsible for its growth. He has managed to capture the interest of investors and focus it into his crypto. It is safe to say that TRON would not have been nearly as close to its current position if not for Sun and his marketing skills.

Coinbase might go for TRON over Ripple

Coinbase has been one of the biggest names when it comes to crypto exchanges, and for quite some time, too. Its preference of cryptos has not changed that much over that time, and it has been very picky regarding which coins it will support and offer.

Lately, however, there were speculations that it might give a chance to several other coins, and it is largely believed that TRON might be the one that will join, rather than Ripple.

There are several reasons for this potential decision as well. For example, Coinbase’s goal is to generate more trading. By accepting TRON, it can easily do this due to its popularity. Also, getting TRON is much cheaper than getting XRP, and the coin still has very high volume. Also, TRON was rumored to be going to a new base in San Francisco, which would make it much closer to Coinbase, which is based in the same city.

Not to mention the rumor that was later confirmed, and that states that Feng Li, who is an investor in both TRON and Coinbase might have more than enough power to influence this decision. So yes, if TRON gets the opportunity to join Coinbase, it will definitely not waste it, and many believe that this might happen before the year’s end.

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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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