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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

Blogs

Reasons Why 2019 May Be A Great Year For Crypto

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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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3 Coins with the Largest Potential in 2019

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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

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