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Tron CEO to ETH developers: Why don’t you just join us? We’re better!

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Tron
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Ethereum has been the world’s second most important cryptocurrency in many ways. It was the blockchain 2.0 pioneer that allowed to use the blockchain to execute smart contracts, it was the second coin by market capitalization for a very long time and its prestige is, again, second only to Bitcoin. Many different blockchain projects that now have lives of their own (including Tron) started running over the Ethereum’s blockchain, using ETH-20 tokens.

In a year that has been hell for the cryptosphere, Ethereum has suffered more than most other projects, solid as it used to be. EOS and Tron left the Ethereum network behind to launch their own blockchains and independent networks and tokens. The network’s users have been complaining loudly all year long about how expensive the gas price has become.

They’ve also complained about lack of scalability, especially when it happened that a betting game became so popular that it was sucking up most of the network’s power, and left a lot of users unable to run their applications and smart contracts.

If all that wasn’t enough, only a weeks ago the ETH token was displaced as the world’s second-biggest by XRP. It’s trading at $124 as we write this and that’s after its today’s surge of more than 15% (the whole market is in green today though). Before today, it has been dealing with red numbers, so traded real close to the psychological $100 barrier and, what’s even worse, for a very short time earlier today, it went below it.

Some observers believe that as soon as the ETH price goes to double figures there will be a bullish run on the coin. The fact is that such event already happened a couple of days ago and while it bounced back slightly, there was no bull to be seen anywhere (we’re seeing that today but that’s because of the market trend).

To put it mildly, Ethereum is facing serious problems because now it has competition. Tron, Cardano, EOS, and any blockchain 3.0 projects allow users and community members to do everything they do on the Ethereum network. Only faster and cheaper.

The question is: Will Ethereum’s users and developers migrate en-masse to other networks? That’s what Justin Sun wants.

Mr. Justin Sun is Tron’s founder and CEO. On top of that, he is masterful at using his Twitter account to great effect. Yesterday, Mr. Sun launched a call to Ethereum users inviting them to leave their current network behind and join Tron’s. He also explained why. His tweet (which was copied by the whole Tron community and re-published afterwards) reads like this:

Mr. Sun’s tweets have been known to cause the rage of Vitalik Buterin (Ethereum’s founder and leader) in the past. This one is surely not going to make Mr. Buterin’s day either.

The problem here is that Mr. Sun is right because Ethereum’s leadership has failed to read the writing in the wall and fix all that’s wrong with the project. The TPR must scale to much higher numbers if current users will be able to keep developing new apps and contracts, and they also must find a way to make the gas price way cheaper, even free if possible.

We can’t wait to see how the cryptosphere will react to Mr. Sun’s invitation.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

Altcoins

Positive Crypto Price Trend Moves VeChain (VET)

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VeChain
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As many are likely aware of, the previous twelve months were not particularly friendly to cryptocurrencies, and there were two major market crashes since January 2018. However, it could be that investors’ wishes are finally coming true, as the market is currently seeing actual gains. While there is still no certainty regarding this behavior, investors around the world are finding the current development to be quite refreshing.

One interesting development that was noticed these days is the increase of VeChain’s price, which is seeing minor gains at this time.

VeChain (VET) price grows

While most cryptocurrencies experienced some extreme ups and downs during their lifetime, VeChain is usually surprisingly unaffected by the market’s behavior. In fact, its price chart typically shows no major changes, and it seems pretty flat in comparison to other cryptocurrencies.

While this may be a good thing, as the lack of volatility means that the coin is more stable than most, the fact that the price is usually not affected makes the current gains that much more peculiar.

In the last 24 hours, VeChain’s price has grown by 2.16%, placing its value at $0.00401120 at the time of writing. The growth is minor, and the coin’s value only increased by a fraction of a cent, but this is still not typical behavior for this cryptocurrency, which attracted the attention of analysts and investors…

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Altcoins

SOLVE Token Could Be A Huge Long-Term Winner

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Solve.Care
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A lot of articles have been written about an altcoin apocalypse.  With so many tokens entering the market, it is inevitable that not all of them will survive.  When trying to analyze pick out the best projects, the following criteria should be used:

  • Very active community
  • Strong potential for mass adoption
  • Valuable partnerships
  • Experienced leadership

If a project scores well in at least three of the above criteria, it’s a winner.  When it scores well in all four, it has the potential to be a blockbuster.  That potential blockbuster is Solve.Care.

Background

Solve.Care has developed a revolutionary platform that will significantly improve care outcomes by reducing healthcare administrative costs.  The platform will also go a long way toward eliminating a lot of the problems commonly seen within healthcare administration such as duplication, waste, abuse, and fraud.  I firmly expect Solve.Care to generate cost savings by facilitating peer-to-peer transactions that grant authority to stakeholders while empowering payers regarding cost control and oversight.

SOLVE token completed its token sale last year in May.  The company sold 350,000,000 tokens and still has 650,000,000 in its treasury.  The great news is that the token has been recently listed on both Bittrex and KuCoin, two of the largest and most trustworthy exchanges in the world.  Given the recent incidents, especially the Cryptopia hack, being on a trustworthy exchange is of paramount…

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Bitcoin

Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin
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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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