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Tron is no longer an ERC20 Token: Time to make the switch!
Since Tron’s new network went live, the price of TRX has not performed as expected. Impatient holders of TRX waited with baited breaths for a bullish rally in terms of price while the new month of June ushered in a new chapter for TRON. During the live stream of the launch that went public on May 31st, Odyssey 2.0 was set in motion as the TRON team once again proved their commitment and dedication to the project’s vision of web decentralization.
Frankly, TRON has outperformed most cryptocurrency projects, including big hitters like Ethereum, considering it’s a young company that is barely over a year old. For instance, the Ethereum mainnet development process took years while Tron has managed to complete its own mainnet in just 3 months. That says a lot about the team and the passion of the leaders of this startup company.
Independence Day
June 25th is fast approaching and with that comes the much anticipated TRON independence day. In a bid to prepare the TRON community for this, TRON has moved to officially announce the discontinuation of ERC20 services on its official Tron website. At the moment, ERC20 deposit services have already been discontinued while June 22 will see the discontinuation of ERC20 withdrawal services. This means that anyone holding ERC20 TRX tokens should submit a request for withdrawal to the Tron support system before the deadline set at the end of the year elapses. Community members have also been encouraged to confirm their remaining ERC20 TRX balance and make plans to withdraw and migrate to mainnet tokens.
What next for TRON
By now, Tron has accumulated over 1 million token holders and the migration after the launch of the mainnet is certainly going to affect a good chunk of the crypto world. To make sure everything is up to speed, especially on the technical part, Justin Sun (Tron’s CEO) introduced a bounty program for developers and bug finders to assist in the development of the mainnet once it went live on GitHub.
Tron’ mainnet is still at its early days, and even though TRX’s price has not reflected the hype and excitement that came with the mainnet launch, there is certainly more to expect in the coming days. There are already a couple of exchanges that currently support the token migration. According to Sun’s twitter post, CoinEgg is one of the latest supporters of the Tron Blockchain migration and token holders can move their ERC20 tokens to this exchange so as to receive the new mainnet tokens. CoinEgg will be joining other crypto marketplaces like OTCBTC who has already announced their support for the migration.
Moving forward
It doesn’t stop there. Tron is set to be the new solution for increasing liquidity for both fiat and cryptocurrencies with its new partnership with Shift Markets. Shift Markets is a New York-based FX broker with years of experience coming up with crypto exchange solutions. The partnership between Tron and Shift Markets will enable the use of TRX to bridge the gap between tradition currencies and cryptocurrencies. As a result, Tron will be available in more than 9 countries.
Final word
As it stands, it might just be too early to dismiss Tron even after the much hyped up mainnet launch seemed to disappoint. Granted, the price of TRX hasn’t skyrocketed as most investors expected, however, with more partnerships and platform developments, a lot is to be expected from this young project.
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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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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