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How Tron’s new Mainnet is boosting mass TRX adoption already

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Tron TRX
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Before I start explaining how Tron (TRX) Mainnet, Odyssey, is enhancing the chances of Tron adoption already, I need to explain some crucial thoughts with you. That’s, the whole cryptocurrency experience is still in its initial stages. Take fiat currencies as an example: the US Dollar or the Euro do not need a fan base. Lots of people use them because they are accepted and considered to be stable currencies by everybody in the world. That’s because they are very well established and backed by several governments in the world and by users as a default.

Crypto coins are different. No government backs them up, and the general public is either ignorant on the subject or distrustful, and no cryptocurrency in the cryptosphere so far (not even Bitcoin) is so well established. That means that every digital asset needs a user base that makes it relevant. Also, the more a coin is used, the more its demand increases thus performing better in trades and exchanges.

In other words, every crypto coin’s success starts with its users and community members buying tokens and using them for digital transactions. If this doesn’t happen, that project or currency can never take off. That’s why it’s been quite impressive to see how Tron’s Tronix (TRX) fans and believers have been at the forefront in letting the world know that Tron’s new Main Net and new autonomous coins have turned some very high expectations into reality. At this point, Tron’s network is faster and cheaper than any other (except Ripplenet and XRP) so it seems that Justin Sun is delivering on the very bold promises he made before the launch.

Justin Sun himself was proud to retweet something by a user called @Kev_TRX_4_Life who wanted to share with the world how quickly he could do a Binance to TRX transaction. He quoted delivery times and prices. Three and a half minutes for TRX to be delivered into his wallet from Binance, at the cost of 0.1 TRX which is equivalent to a thousandth of a USD cent. Sending XRP back to Binance took two minutes. That’s indeed quite fast and cheap.

Some other users used the chance and the general euphoria to remind and explain to other users about the coin burn. Haven’t heard about it? Ok, let me tell you. For every transaction that is done using the Tronix token some of the TRX supply will be burnt (which means it will be withdrawn from the market permanently thus diminishing supply and increasing demand.)

It will work like this. Every time a new account is created over the Tron Main Net, 0.1 TRX will get burned; every single transaction will burn 0.001 TRX. The apparent consequence is that the more Tron users there are, and the more users that run Dapps over Tron, the more TRX tokens will be burned. So in Tron’s basic economics the success in expanding the project’s user base brings the supply down thus keeping prices high.

Tron has shown to have a very loyal and excited user base. They seem to be quite happy with Tron’s new environment and are supporting it to death and screaming it to the world. They are indeed adopting the cryptocurrency, using it and trading it, and this is a sign that both the Tron foundation and Tron’s users understand the mechanics in cryptocurrencies and they’re getting the fundamentals correctly.

This all promises a great future (and mass adoption in real-world shortly) for the project, the cryptocurrency, and the community.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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