Despite a large amount of turbulence that has been hitting the crypto market ever since the beginning of the year, a lot of coins seem to have been experiencing a rise in value. One crypto that seems to be trying whatever it can to ensure its way to success is definitely TRON (TRX). This crypto has a lot going on, and many believe that it will steal the spotlight by the end of this year.
Is TRX better than ETH?
TRON’s price is nowhere near the value that it has a potential to achieve, but a lot of its supporters are convinced that it is only a matter of time before this crypto shines. It’s CEO, Justin Sun, constantly reminds TRX’s community that big things are coming, and is sure that TRON’s rank on the crypto market will drastically improve.
Sun has even gone as far as to claim that TRON is better than Ethereum (ETH). He said so in a tweet where he lists seven reasons why this is true. His reasons include comparing TRON’s 10,000 transactions per second, where ETH can only handle 25. He also pointed out that TRX does not charge additional fees, while ETH has some pretty high ones. The list goes on, and it has actually enraged many who saw the tweet.
Why #TRON is better than #ETH: 1. 10000TPS vs. 25TPS 2. zero fee vs. high fee 3. consistent Coinburn vs. no coinburn 4. Java vs. Solidity 5. strong extensibility vs. no ex. 6. 1 billion USD developers rewards vs. no plan 7. 100 million users vs. small number #TRX $TRX pic.twitter.com/WvxH5EToa8
— Justin Sun (@justinsuntron) April 6, 2018
A lot of users felt like TRON’s CEO is degrading ETH, which provided a lot of support for this crypto ever since it first came to be. Others have accused TRON of having a copied whitepaper, and that Sun’s analysis of the two cryptos is extremely one-sided.
Can TRON really stand above other cryptos?
The answer here is probably yes. Or, at the very least, TRON has a potential to do so.
There are multiple aspects that build up that potential, and TRON’s soon-to-be-launched MainNet is definitely the biggest one. The launch is expected to be in a little more than a week, scheduled for May 31. Once the MainNet is up and running, all of TRON’s tokens will migrate from ERC20 to TRX, which is expected to be done by June 21.
TRON has already tested this concept by recently launching a TestNet. The test was made mostly to confirm the soon launch of MainNet, and all seems to be going well for this crypto. There were doubts regarding the MainNet, and a lot of them came from Ethereum’s very own founder, Vitalik Buterin. He even stated that TRON’s project has no soul, but many in TRON’s community believe that he said so because ETH has a lot to lose if TRON’s project turns out to be successful.
One thing is certain, and that is the fact that MainNet’s launch will make it the biggest dApp platform on a global scale. All of TRON’s previously built dApps will also migrate from Ethereum, and TRON will become its serious competition. It is no secret that Sun wishes to create an ecosystem larger than the one Ethereum has. And it will probably manage to do so with ease since it already has 100 million dApp users.
TRON’s team and popularity are growing
Another reason why TRON has a lot of potential is its development team. The team started small, of course, but it managed to grow to a hundred people over time. Also, these are no ordinary developers, and many of them came from Tencent, Alibaba, and Amazon, which are all very reputable and prestigious companies. They are among those who rule the Internet these days, and if their developers have joined TRON, then that is proof enough that the team knows what it is doing.
TRON’s popularity is also a very big part of why it can achieve even more success. It is accepted by 37 exchanges and has managed to enter 7 fiat trading pairs. Most of the mainstream exchanges are expected to list TRX as well, probably as soon as the MainNet proves its worth.
However, there is also the issue of marketing, and Justin Sun has proved to be pretty cunning when it comes to this. One of TRON’s innovations is the announcement of an airdrop consisting of 30 million TRX tokens that TRON is planning to release to ETH’s community. TRON has stated that this is to be done in order for the crypto to show its gratitude for ETH’s support during the ERC20 phase. However, many believe that this act has an alternative goal, which is to give ETH’s community a taste of what TRX has to offer.
If they experience the new form of decentralization that TRON is offering, and become convinced of TRON’s superiority, ETH will quickly start losing its support.
So, yes, TRON definitely has a potential to achieve greatness once the MainNet is launched. Many believe that it will stand above all other cryptos someday, or at the very least, become ETH’s equal.
For the latest cryptocurrency news, join our Telegram!
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 Pexels
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.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
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.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
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:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
Why Binance May Be Crucial for Tron (Trx) to Reach $1
Why Tron (TRX) Price Won’t Remain Low for Long
3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance
Altcoins2 weeks ago
Top 4 Cryptocurrencies That You Won’t Find Among the 100 Largest Coins
Blogs2 weeks ago
Crypto Billionaire Predicts Massive Price Growth by 2021
Altcoins2 weeks ago
TRON (TRX) Blockchain Threatened by a Lone PC
Bitcoin2 weeks ago
Why Bitcoin (BTC) Will Go Back to $20,000
Altcoins1 week ago
Justin Sun Bullish On TRX and BTT
Altcoins2 weeks ago
Tron’s (Trx) Rapid Development Hints at the Project’s Full Potential
Featured news2 weeks ago
3 of The Most Shocking Cryptocurrency Scandals
Trade1 week ago
eToroX launches gold and silver stablecoins