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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

Altcoins

Analyzing The Best-Performing Cryptos

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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Is Tether (USDT) really a stable coin?

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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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TRON Partnership Involves Cloud Computing

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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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