Altcoins
Latest Tron (TRX) Crypto News on Project Atlas
Back in mid-June, news spread like wildfire that Justin Sun and the Tron Foundationacquired the peer-to-peer file sharing platform of BitTorrent. The details of how Justin and the team at Tron were going to integrated the platform and its 150 Million users, was not yet known at that time.
What was known was that BitTorrent was according to Justin’s vision as outlined in the Tron Whitepaper. Some fans had even noted that BitTorrent had been mentioned eight times on the document.
The Revelation of Project Atlas
At the end of July this year, Justin and his team unveiled Project Atlas that would kick-start the integration of the BitTorrent platform onto the Tron Ecosystem. Since then, the team has updated continuously on ncluding during the Tron Virtual Machine (TVM) launch on the 31st of August.
How BitTorrent will Work on the Tron Blockchain
Project Atlas is meant to usher in a new era of content distribution. By using the BitTorrent protocol extension, a custom token, and an in-client token economy to address existing limitations, the team aims at changing how users can exchange value for computer resources on a global scale. The BitTorrent protocol has always had a system to incentivize users, and the Tron blockchain provides a gateway on how to do it.
would further explain the project as follows:
Project Atlas is the foundation for a new way of content distribution. To start, the product will feature faster downloads, more seeds, no mining, and backward compatibility. It is adapted to the world we live in today: mobile, connected, and transparent. We aim to eventually empower all content creators and their communities by eliminating the middleman and enabling content creators to distribute directly to users.
Experience the thrill of the casino floor from the comfort of your own home with live blackjack online! This exciting game allows you to play against real dealers in real-time, with the added benefit of being able to wager real money. The authentic casino atmosphere is brought right to your screen, with high-quality video streaming and interaction with professional dealers. You can choose from a variety of tables, betting limits, and game variations to suit your preferences. To learn more about the best live blackjack online casinos and strategies, visit https://liveblackjack.guru/ , a comprehensive guide for players of all levels.
Users will also be able to earn tokens for continuing to seed files after a download is complete. That then means the token economy will be based on resources provided and not mining.
Justin Knoll, Project Atlas Lead, explained this further:
Project Atlas is an evolution of torrent technology, not a revolution. With TRON’s blockchain expertise, our growing development team of seven people expects to ship the first features in the coming month.
The Tron Foundation and BitTorrent will be sharing more information about Project Atlas in the coming days and weeks. The first of these events will be on the 28th of September, 7 pm, PST. The livestream will be available on the
In conclusion, this new development has provided the much-needed clarity as to whether TRX will be used inside the BitTorrent protocol. With a custom token to fuel operations on the BitTorrent protocol, this then means it will be created on the Tron network and through the different incentives of Project Atlas, users can accumulate these tokens.
For the latest cryptocurrency news
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.
Photo by rawpixel on Unsplash
Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
-
Blogs7 years agoBitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
-
Blogs7 years agoAnother Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
-
Blogs7 years agoStandard Chartered Plans on Extending the Use of Ripple (XRP) Network
-
Blogs7 years agoElectroneum (ETN) New Mining App Set For Mass Adoption
-
Don't Miss7 years agoRipple’s five new partnerships are mouthwatering
-
Blogs7 years agoCryptocurrency is paving new avenues for content creators to explore
-
Blogs7 years agoEthereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
-
Blogs7 years agoIs Litecoin (LTC) Changing Its Game Plan By Going For Mass Adoption?
