As its next project on a goal to decentralize the web, the TRON Foundation launched a TRC20 exchange earlier this week. The exchange is a place for an easy and quick exchange of tokens created on top of TRON’s own blockchain. TRC20 exchange is located at TRX.market, while TRC10 is still on Tronscan, which is TRON ecosystem’s information service and a primary block explorer.
Both TRC10 and TRC20 are TRON’s own version of ERC-20 tokens, which TRX itself used to be prior to the launch of its own MainNet earlier this year. The only real difference between them is that TRC10 tokens, as user-issued tokens, do not require the creation of a smart contract. TRC20 tokens, on the other hand, provide the power and functionalities of a token system based on smart contracts. In fact, TRC20 is quite similar to ERC20 in that regard.
All that users need to do in order to issue a TRC10 token is to own 1024 TRX. At the time of writing, the price of a single TRX coin is at $0.012722, which means that the price of issuing a TRC10 token is about $13.
Furthermore, TRON already offers numerous dApps that were created on top of its blockchain in the last several months. Thanks to these dApps, TRON’s ecosystem remains busy and more lively than ever, despite the coin’s low price and a constant bear market. In fact, the Foundation has measured a 48% boost in usage during the last week.
As a result, last week, the number of TRX transactions has exceeded 1 million in a single day. TRX trading volume was measured at 640 million TRX during the same occasion, which is a 151% increase when compared to the week before.
Among TRON’s most interesting projects is Seedit, which is a platform that allows users to tip content creators and show their appreciation for content creators’ hard work. Another big project, named Project Atlas, is expected to provide users with an incentive to seed content on BitTorrent, which TRON purchased in July 2018.
Is Ethereum under-used?
Prior to TRON dApps, Ethereum was the leading project in terms of dApp popularity. However, according to statistics, Ethereum is not even close to approaching the amounts of usage that TRON is currently experiencing. However, there are several other factors apart from simple lack of popularity. One example is that Ethereum blockchain has several sub-platforms that were created on top of it, and that does not contribute to the dApp activity. In other words, there is more activity on ETH than it seems at first glance, but TRON is still the leading project at the moment.
However, it should also be noted that not all token activity comes from dApps. BAT, for example, is not a dApp, but it still has thousands of token transactions per hour. The same is true for BNB. Simply put, Ethereum is certainly not under-used. The fact is that it simply lacks “killer dApps” that TRON has managed to create and offer.
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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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…