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Tron’s (TRX) $100K Mainnet bug bounty tells a lot about their confidence

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Tron (TRX), one of the substantial blockchain based operating system and top 10 cryptocurrencies in the world launched their Main Net yesterday without any hitches or glitches. The migration of Tron’s network from Ethereum’s blockchain to its resident blockchain has been the most talked about event inside the cryptocurrency community. Right after the Main Net launch, Justin Sun, the founder of Tron, announced compensation for anyone who will be able to find any security hole in the Main Net.

Posting on his Twitter account, Justin revealed a huge reward to anyone in the general public or from the developer’s community who will find any erroneous coding in their Main Net. With the migration set to take place on 25th June, everyone is encouraged to take part in the reward program that will end on 25th June.

Justin Sun tweeted:

By doing this, Tron will be able to detect and fix issues if any is found. This smart move from the founder and the management is to deploy a proper firewall that will prevent future hitches and glitches in the Tron system.

Tron is not taking any chances with its new blockchain and is investing big money in ensuring their Main Net is safe and secure unlike EOS, who offered a $10,000 bounty for any critical bug that has the potential of risking their main net launch on June 2.

Some bugs could be small, pose no risk, easy to solve, and does not directly affect the network entirety. However, if you manage to spot a huge error that might allow hackers to take advantage of the loophole to steal big amounts of TRX coins, this is worth the bounty payment of  $10 million ($10,000,000).

Justin’s Personal Invitation

Tron’s CEO personally invited all interested parties in joining the crypto’s Independence by downloading the Odyssey V2.0, Tron’s main net, on GitHub. It is also an exceptional time for any developer who wants to prove their skills are worth $100K. In retrospect, it only demands a few days of sitting in front of your pc and going through a bunch of codes.

It seems Justin Sun learned a lot from the trouble Ethereum faced with the EOS case where glitches in Ethereum’s smart contracts got around 600,000 ETH of user funds frozen in the Parity Wallet platform. This was discovered last year.

The entire Tron foundation, management, and Justin Sun can be lauded for a job well done for successfully launching the Main Net without any technical difficulties and going even ahead to invite computer geeks to tinker with their system in a show of confidence in their new blockchain.

What’s next for Tron?

At present, Tron (TRX) is trading at $0.057, a 5.51% decrease in last 24 hours. So, Tron is still on its losing trajectory in a market that either is not moving upwards as of now. Either way, experts are predicting an upsurge of value shortly after the Main Net settles down. It is just a matter of time before we see this happens.

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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 Pxhere.com

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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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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