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Tron (TRX) CEO Justin Sun tells developers to do away with Ethereum

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Justin Sun, the CEO and founder of Tron Foundation, has told developers to shift to the Tron blockchain instead of utilizing dApps on the Ethereum blockchain.

A developer by the name of Afri Schoedon had tweeted that the Ethereum network was at full capacity, and Sun was responding to this tweet.

Specifically, he urged the cryptocurrency developer community to move to use “$ETC, or $POA,” although, clearly, Justin Sun used it as an opportunity to endorse his very own project.

Mr. Schoedon’s statement could be verified by concerning, which monitors blockchain activity worldwide, and confirmed that there were almost a staggering 60,000 transactions on the ethereum blockchain.

The co-founder of Ethereum, Vitalik Buterin, countered that there are Dapps that could undergo gas utilization optimization to combat this.

It goes without saying that this is clearly a self-serving statement, considering Buterin helped to create ethereum, which like most cryptocurrencies – including Tron (TRX) – has decreased tremendously in terms of market capitalization this year.

This all is in the keeping of Justin Sun trumpeting his Tron Virtual Machine as a new tool for developers, pointing out that it is completely compatible with the Ethereum Virtual Machine.

During the launch, he had boasted that developers could move the projects to the TVM (Tron Virtual Machine) for “almost free” and believed that this was a milestone for the Tron ecosystem, which would help bring massive value to the Tron project and the cryptocurrency sector in general.

It is also important to note that this isn’t the first time that Sun has been tried to boast about his project while pointing out the flaws of another.

However, the last time that this happened it could be argued that the Twitter feud between Justin Sun and Charlie Lee (creator of Litecoin) started with Charlie Lee.

Mr. Lee coyly referred to the movie “Tron” and gave his opinion on the movie, stating that people “kept asking his opinion about it,” although clearly, people were more interested in knowing about his opinion about the Justin Sun-led project. He jabbed the project, by stating that it was “extremely hyped without a lot of substance.”

Although he walked back with the statement, by stating that he did not know a lot about the project, many believed that his statement was clear. Mr. Sun responded that he “loved” Charlie Lee and Litecoin, and that it was a pity that he had sold all of his litecoin, referencing Lee’s controversial decision to sell his personal Litecoin holdings.

He also pointed out that he had “locked up all $TRX until 2020” and pointed out that this is because he was wholly confident in the project, a clear indication that Sun thought Lee had stopped believing in Litecoin when he sold it.

With regards to this latest comparison – there are critics of Tron that still believe that Tron is nowhere near as scalable or secure as Ethereum, and thus will never indeed be a project with as much value as its competitor.

Others believe that TRX is destined to be one of the most important coins in cryptocurrency and that its climb to a top 10 market capitalization is all but inevitable. Time will tell whether Mr. Sun will ultimately be able to deliver on his promises and whether the project could eventually surpass ethereum.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Tim Gouw on Unsplash

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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