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Tron Mainnet Goes Live as Justin Sun Declares “Call for Independence”

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Tron
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As an open-source distributed ledger, blockchain technology has rapidly gained recognition in the global market. Regulated by cryptography, blockchain has been deployed by various platforms to design interesting projects. Tron (TRX), a blockchain-based project for content distribution, is one such instance of the decentralized application.

Operational since September 2017, Tron is regarded among the most promising altcoins in the market, making waves in the digital entertainment industry. After a year-long wait, Tron’s Mainnet is finally live, creating fresh interest in the trading community. Much to the investors’ disappointment, the transition hasn’t been smooth, and the coin suffered greatly on the onset of such changes. As per the records, the price dropped by 14% from its previous position. If you want to know what Tron has been doing, here’s the full the story.

Tron Releases Odyssey 2.0

The tenth-largest currency by market capitalization, Tron (TRX) has started the transition. The altcoin, which declared independence from the Ethereum network, has become the talking point in the community. Tron’s Mainnet, which has been named Odyssey 2.0, was launched on May 31 at 12 am UTC, leading the $4 billion crypto to the path of becoming an independent network.

As per the updates released by the team, the network will assume the beta status for the most part of June, allowing the team to configure the wallets and browsers.  The token migration of the currency is scheduled to take place from June 21 to June 24, when ERC-20 token-holders would have to deposit their coins on registered exchanges to receive TRX token on the new network.

The transition will reach the culmination on June 25, when the Genesis block will go live. June 25, which has been called “Independence Day” by the developers, will put to test the most talked about the prediction of Tron that regards it as an “Ethereum Killer.”

This transition is going to be a pivotal step towards the independence of TRX protocol. Speaking of the switch which anticipates changing the course of the coin, Tron’s CEO Justin Sun said, “Our team maintains a high standard of excellence as we head towards becoming a mainstream public blockchain. The move of the TRON Protocol to Mainnet makes it easier for developers to break away from Ethereum and opens up new doors towards better scaling, commercialization and express lanes needed for global dApp development.”

As a part of the Ethereum network, Tron (TRX) has operated as an ERC token, and TRX token has moved up considerably in the market charts, securing a solid follower-base. Although the coin has been slammed by many after it got caught in high-profile controversies, the coin has cemented its place in the community for its unique approaches. Discernibly, the hype around the Mainnet release didn’t translate into positive price movement, and the coin slipped 5% on Wednesday before the launch of Odyssey 2.0. However, considering the optimism around the developments on the blockchain, the trends can reverse in the coming weeks, taking it to the zenith of success.

Justin Sun Announces a “Call for Independence” Conference

After a period of high volatility, the crypto-market has finally stabilized. What was considered to be a moon landing for Tron ended in a shocking decline. The progress made by the currency in the past few weeks has been sidelined by Bitcoin (BTC) that led the crypto market into a depression. Despite the turbulence in the market conditions, all eyes are set on Tron (TRX)’s Mainnet, as Justin Sun dubbed the event as “a call for independence.’ With the much anticipated Mainnet going live, the CEO and Founder Justin Sun summoned the community to join him in “a call for independence” conference. Like every other notable announcement, Sun made the call official on Twitter. “A CALL FOR INDEPENDENCE” Strategic conference about #TRON Mainnet launch will be held at 11 am, May 31, 2018 (UTC+8)! Be there or be square,” he tweeted.

Tron (TRX) and the Market

As a part of Ethereum blockchain project, Tron has seen a meteoric rise in the crypto world. The coin has attracted the limelight right from the start, prompting many investors to switch their investment options. With Bitcoin on the decline, this year has been difficult for most of the top-performing currencies. With the big currencies suffering from major a price slump, altcoins like Tron have become all the rage.

Evidently, the speculations and optimism surrounding the Mainnet launch failed to bring positive results in the market. With Tron crashing 8% in the last 24 hours, Tron features among the top losers this week. While many investors expected that the price will skyrocket to reach an all-time high, the bearish momentum has kept the prices in check. Tron’s transition from the Ethereum network, which has been dubbed as a “call for independence”, promises some positive developments in the future. With the token swap event slated for June, market analysts predict a price surge at the end of June.

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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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