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.
#trx – transfer speed.
That is uhmmm… FAST!!!!!! And CHEAP!!!
Buh bye #ethereum !
— Tron4Life $TRX (@Kev_TRX_4_Life) July 10, 2018
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For every transaction that is done using the Tronix token some of the TRX supply will be burnt (which means it will be withdrawn from the market permanently thus diminishing supply and increasing demand.)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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Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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