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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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
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Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
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These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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