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Tron CEO to ETH developers: Why don't you just join us? We're better! - Global Coin Report
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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.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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

2019 Will Be a Big Year for Luxcore

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With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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Crypto Market is Not Free from the Bearish Trend Yet

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Investors and traders are still speculating over the bullish trend that shook the market this past seven days. However, amidst the joy of the price hike in the industry, some people are still cautious. A crypto trader with the twitter handle of BTC_Macro is advising other players in his tweet to be careful. According to him, the bearish cryptocurrency market is not over yet.

In the tweet, the user admonished players in the market not to listen to the people saying that the bears have given up. It went further to say that Bitcoin may still plunge uncontrollably anytime even if it breaks the $6K mark. When this occurs the twitter user continues, any scenario may occur. The advice is that players in the crypto market should be on the neutral side. According to the user, it is not safe to be on the bullish side or the bearish side. Instead, players should be on their toes without bias.

How Trader reacts to price movements

Over time, it has become evident that many traders usually go against the market majority during bearish or bullish trends. Well, there is usually some logic backing up the reactions.

It is true that we have seen the longest bearish trend in the history of cryptocurrencies. Everybody who has a stake in the crypto market is expecting the day of the bull’s rise…

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