The self-proclaimed independence day of Tron (TRX) has finally arrived. The ongoing token migration from ERC20 TRX to Mainnet TRX that started on 21st June 2018 is expected to be completed today (25th June). From the Tron network website, “From June 21st– 25th, TRX withdrawals on exchanges will be suspended. On June 25th, both TRX deposits and withdraws on exchanges will be suspended. Deposits and withdraws will resume on June 26th. During this period, TRX trading will not be affected.”
For the investors, the so-called “independence day” of Tron (TRX) will mark a historic moment. What is yet to be seen is how this migration will shape the future of the Tron network. Launched in the cryptocurrency market in September 2017 with the aim to “decentralize the internet”, Tron (TRX) is currently ranked 9th. (As per coinmarketcap.com) Tron emerged at a time when many other tokens also made it to the market but, the project has distinguished itself due to its many partnerships and contribution in the real world. Last week itself, Justin Sun, the founder of Tron had raised eyebrows by purchasing the company behind file-sharing service BitTorrent.
Beforehand, Justin Sun had challenged Ethereum by saying that the Tron network will focus on the “inefficiencies” of the Ethereum project and successfully overcome them. Sun wants to focus on “consumer-facing products” and user experience. According to him, “Ethereum is like IBM back in the day, making those big supercomputers. And I’m not saying that Ethereum does not have robust technology, but I’m saying that Ethereum is just like IBM. They only focus on tech, they don’t focus on user experience.”
Even though it is a visionary project, there still remains some anxiety regarding the complex launch. In the case of the recent EOS blockchain launch, it was seen that the global process had taken longer than expected and Tron may even have to face similar complexities ahead. The token swap of Tron (TRX) will be followed by a “super representative election” on Tuesday where the token holders will choose the block producers. The block producer delegates will give their nod on the transactions. After this, the technology will go live.
The Tron network has referenced Ethereum’s code in their P2P network but has reserved all the licenses. The developers’ team has revealed that many changes have been brought about and at the same time, node discovery and node blocking functions have been optimized. Improvements have been made in the Tron DPoS use case area also by incorporating functions on the P2P network such as to eliminate the risk of unexpected disconnections. Justin Sun has claimed that there has already been “two rounds of successful rehearsals for the official launch.”
According to Justin Sun, the launch is only the “beginning of the decentralized internet” and there are many more things to come in the future of the Tron network.
Enrollment in Tron Blockchain University Starts in Fall 2018
The Tron Foundation in its Twitter account had posted a video about their blockchain university named Tronics University. The 30 seconds video about Tronics University is all about how blockchain technology can be incorporated into the current education system and the benefits of decentralized educational sources. The Twitter post read,
“A university should be a place of Light, of Liberty, and of Learning”
Decentralised education for the new decentralized world
The details of the project have not yet been revealed. But, it is quite clear from the video that the Tron network is developing this go-to portal for bringing blockchain technology and cryptocurrencies closer to the mass by educating them. Other than gaming and social media, the Tron Foundation is also focusing on education and the admissions to Tronics University is expected to start in fall 2018. The Tron Main Net is most likely to support Tronics University. The fact that the video culminates with “Earn to Learn” gives the hint that there may be a reward system in place for the users to participate in the university, unlike in the traditional education system. One can expect that this portal will open up new doors for further dissemination of knowledge. This initiative will attract developers and also entice interested students to join the decentralized learning portal.
Till now, in the month of June, the price of TRX has been moving in the 0.04 mark largely. At the beginning of the month, however, the mark was within the range 0.06 to 0.05 mostly. The ongoing TRX token migration and the upcoming block producer selection elections may see the price action of Tron (TRX) make an upward movement. At the time of writing, according to coinmarketcap.com, the price shows approximately $0.041 USD (3.80%) and the market cap is nearly $2,751,551,898 USD. The volume (24h) is over $186,865,000 USD. (As of 25th June 2018)
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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…
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