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Tron’s opportunity to reshape social media and cryptocurrencies as Facebook and Twitter keep losing ground

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The Tron project is most commonly associated with its cryptocurrency, Tronix (TRX). And the token is indeed part and parcel of Tron but, this is a project and a community with ambitions and aims that go much deeper than that.

When Justin Sun (Tron’s CEO, Founder and, now Super Representative) founded Tron approximately one year ago, he let the world know that he wanted to rebuild the whole world wide web using Tron’s blockchain technology. 

That would turn the web into a decentralized entity in which corporations and central authorities cannot project their power or impose decisions over users, especially content creators. To rebuild the whole web seems like a doubtful proposition right now, but more significant changes have happened in the digital world since computers became consumer products. 

Besides, Mr. Sun already has a degree of credibility as an entrepreneur and technological leader because of the massive success that Peiwo, his mobile messaging app has had in China.

And since we’re talking about credibility, let’s talk about Twitter and Facebook. After data management and privacy scandals along with some attempts from the social media sites to force users into some specific behavior patterns, both platforms are bleeding users, and their stocks are tanking in the market. And the main reasons all that is happening are, precisely, bad decisions implemented or imposed by a central authority.

Some of Twitter‘s and Facebook’s more ferocious critics believe that the writing is on the wall for both companies and that their days are counted. That too seems farfetched, but other internet giants have disappeared or become marginal over the years (think Yahoo, Excite, even Microsoft up to a point).

It seems impossible to imagine the Internet without Facebook and Twitter right now, but these two companies are not facts of nature, they are private firms with a mission to create shareholder value that can go down the drain if they are mismanaged, or lose the market share they hold.

So, for argument’s sake, what would happen if the social media behemoths went down? Who could fill the void they would leave behind? If you take Mr. Justin Sun seriously, that would be Tron. Don’t laugh, BitTorrent also seemed invincible in the P2P file-sharing world (it became the only game in town years ago), and it’s now Tron’s.

Tron would have the technology, the resources, the expertise and the motivation to come up with new apps or services similar to the current social networks that could replace them except this time they would be decentralized, based on blockchain technology, safe, and in which no single executive could impose any order on a whim.

In that new hypothetical environment, corporations would have no say at all on user’s behavior because the monetization process would be decentralized. Content creators wouldn’t need to adhere to, say, Youtube’s conditions for monetization because the Tron based video streaming apps would have no central authority at all.

Additionally, no other blockchain project has the objective to become the world’s new web platform so that Tron would be uniquely positioned to take over.

Too utopic? It’s certainly premature to say that this will happen for sure. But it would be very short-sighted to think it’s impossible because Tron is here already and the social media giants already are in problems they created for themselves.

In this scenario, Tron would reshape cryptocurrencies, and the web at the same time. Remember: the internet and the computer industry have seen bigger things than Facebook and Twitter come and go.

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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.

Image courtesy of Maxpixel.net

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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