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TRON Celebrates Burning Over Half a Billion Tokens

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TRON (TRX) torched another round of its old tokens, bound to Ethereum’s network. Additionally, its new wallet finally got on the iOS App Store.

TRON team celebrates new progress

TRON (TRX) has become known for two things — making significant progress, and for burning significant amounts of its ERC-20 leftover coins. Right now, TRX has done both, almost at the same time. They just torched more than half a billion (670,045,551) tokens, but they did so in celebration of having their TronWallet finally appear on the App Store.

This usually wouldn’t be a cause for that much celebration, right? After all, the TRON team is nothing if not experienced and professional, so why is it that a wallet launch requires celebration and attention?

The team started the wallet’s development with a goal of publishing it for both, Android and iOS. Soon after that, they started running into obstacles that eventually led them to a crossroad. As their Medium post says, the team had to make a compromise — either to go down the multi-platform road as planned, or they would have to give up on these early goals and focus on the faster release.

Eventually, they chose to go with the latter, and the TronWallet was created for Android first. In the meanwhile, the team was trying to figure out how to fix the issues with iOS, so that the wallet can become available for Apple users as well.

Soon enough, the 1.0 release for the App Store was ready, although it was only a reduced version of the wallet created for Android. This was all back in July of this year, with the submission finally happening on July 22. This is when the second large issue emerged. The team had to wait for 30 days to have their app reviewed and possibly accepted. This was very discouraging, especially since all of their previous app publications were reviewed and approved much faster. Needless to say, the team was anxiously awaiting the news, hoping that they would be good ones.

The app was finally approved

A month later, Apple finally cleared the wallet and posted it to the App Store. However, the story does not end there, and the team continued to work on improving the app. As of right now, the iOS version of TronWallet will no longer be a reduced copy of what Android has to offer. Instead, it will be it’s equal and will offer numerous features.

Those will include the elimination of the need for signups and logins, local secret encryption with an addition of a PIN, the support for all TRON network operations (minus the ‘create token’ one), the possibility of multiple accounts, push notifications, and more.

Obviously, the team he put a lot of work into trying to please Apple, not to mention that the entire previous month was a nervous one, due to the extended approval period. However, the app went through, the team made it better, and the Apple users now have everything that Android users have. With all of that put together, it is clear why TRON believes that this development is a cause for celebration.

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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