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Tron TRX now accepted in charity galas. A hope or misconception?

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Last Thursday a charity gala was held in San Francisco. It raised some serious money to fight poverty in the Bay area, according to Bloomberg. This happens all the time in Silicon Valley but what made this particular gala worth noting is that they were taking cryptocurrency donations, and it worked to the tune of fourteen million dollars. Some crypto-town celebrities were there such as Coinbase’s Brian Armstrong and Ripple’s Chris Larsen.

The organization allowed for cryptocurrency donations but only in Bitcoin, Ethereum, and Ripple. Mr. Larsen confirmed his presence by saying, 

“It’s great to see in the Bay Area because this is all about making sure that wealth is getting to people who need it most, and this helps lubricate that goal.” Mr. Brian echoed the sentiment “I think a lot more charities will be accepting crypto in the future.”

The donations were collected using Tipping Point, which has earned a following among Silicon Valley’s philanthropists. Tipping Point is a data-driven and technology-driven approach to early childhood development, housing employment, and education. It’s led by Mr. Daniel Lurie, formerly at Robin Hood Foundation (NYC).

The foundation is aiming to reduce the number of chronically homeless people by half before 2021. They raised 33 million dollars as a response to North Bay fires 100 million.

Tron’s TRX currency was not announced as a way to make donations to the organization, but Tron took the initiative and boldly posted:

The event’s explicit goal was to help eliminate poverty in the Gulf region, but TRX’s acceptance was not a purpose on its own, and it remains unclear if they are so friendly towards it once Tron releases its own Main Net and leaves ERC20 tokens behind for good. We have no announcements about that so far except for Tron’s own tweet.

Twitter and Reddit users took issue and published their mixed declarations.

LongDong699 says:

“I just checked, and they do not accept TRX…They accept Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.”

Perogies commented:

“Probably pending. Perhaps waiting until TRON launches it’s mainnet and isn’t an ERC20 token anymore. I’ll remove the post until we get further clarification.”

ByteBish mentioned:

“You’ve mistaken them with the American Charity who is going to Partner with an ultra-secret Chinese Charity – TBD.”

Vanalli tweeted: 

Another Twitter user who goes by the name, EdCummins, said:

Consequently, as it stands, Tron foundation says yes Tron was among the accepted cryptos for the charity; whereas, social users represent misconception. But, whatever the case is, it could a step towards the right path for cryptos as a whole – don’t you agree?

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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.

Chart courtesy of Mc Morr via Flickr

Blogs

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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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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Altcoins

Ravencoin (RVN) Surges Following Binance Listing

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While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.

About Ravencoin

Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.

Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.

Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.

Ravencoin got listed on Binance prior to MainNet launch

Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.

Getting listed on Binance has brought Ravencoin to the top…

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