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Tron (TRX) stability generating shock waves in the entertainment industry

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TRON

No, it was not a problem with your phone or your web browser. As of Tuesday evening, the video streaming giant website, Youtube, was down for many users due to a worldwide outage. And that pushed many who are familiar to the blockchain, to immediately think of Tron as the option worth trusting in the long run.

The downtime appears to have begun sometime around 6 in the evening on Tuesday, making it one of the most extended outages the video streaming company has ever experienced. Through their Twitter handle, Youtube was quick to assure its users that they were aware of the disruption and that they were working on it.

Although Youtube was able to restore their services up and running after 2 hours, millions of users around the globe were frustrated and angry towards the company as they could not access the network.

Many of YouTube users noticed the video service’s site and their mobile app was not functioning at around 9 pm ET, and nothing changed until after an hour. To some users, the outage lasted for more than 2 hours sparking them to vent their frustrations on Twitter. Also, Youtube TV and YouTube video were not spared as they too were affected by the outage.

At about 10 PM ET, some users attested to the site’s normal functionality with its services coming back to normal in most parts of the world. However, the YouTube technical team is yet to make it public on what could have been behind this downtime.

On the other hand, some of the companies who are familiar with such outages and technical issues are not concerned with what might have caused this instead they are offering a helping hand to assist in resolving YouTube’s technical challenges. One among the ones that showed interest in assisting YouTube in avoiding such occurrences in future is non-other than Tron Foundation.

Tron Foundation is a cryptocurrency network that uses its blockchain technology to transfer content, from content developers to content consumers. Tron believes in the school of thought that with its platform which is comprised of many nodes that are based on the decentralized system, such downtimes, and technical problems should never arise or occur.

How Tron Intends to Solve Such Issues Encountered by YouTube

Server and downtime errors are nothing new to YouTube users when they try to sign in to any YouTube channels with the intention to watch or upload videos. In the recent downtime, YouTube users were unable to access the video streaming platform which kept on buffering.

Through a tweet, Tron Foundation was quick to make it known that they could handle such issues.

The advantage Tron (TRX) has over YouTube is that it has a decentralized platform that can be utilized in creating the blocks of blockchain it uses. The Tron’s network does not have a central point that is available to downtimes, bug attacks, and cyber-attacks.

The platform is easy to access and more secure due to the absence of a central point, making it easy for a node to manage another when it is experiencing downtime.

Ironically, YouTube currently is the most popular network overseas Tron investors and traders use to discuss and engage with each other on matters concerning Tron (TRX) in comparison to other social media platforms.

For the global insights every crypto trader must have, apply for Elite membership!

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 WikimediaImages/PixaBay

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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