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

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Tron TRX

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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 been…

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