Connect with us

Altcoins

TRX Essentials: Tron energy and bandwidth, what is that all about?

Published

on

Tron

Things are developing fast at Tron (TRX), as it usually happens. Over the last few weeks, three of new Tron’s features have created a lot of expectation but also doubts so in this article we’ll explain to you about Tron’s power, its energy and the Tron SR voting feature.

What are Bandwidth and Energy?

Every blockchain project is based on the same principles, as established by Satoshi when he first launched Bitcoin, so they’re all similar in some ways. But some projects (especially the newer ones) make a point of being innovative and giving their users new features that provide them with some kind of advantage. Tron has been very emphatic on this.

Take the “Freeze” function. If you have a TRX (Tron’s coin) wallet, you can freeze your wallet, if you so wish. This means that your TRX coins will be locked down for a few days so you won’t be able to trade them or sell them until the freezing finishes. But freezing will get you access to some resources in the network that allows you to do more things. Namely bandwidth and energy. Then bandwidth will enable you to vote.

Bandwidth: Bandwidth isn’t free in most blockchains you have to pay for it using the network’s token. That is known as the “gas price.” If you have Tron’s Bandwidth, you don’t have to pay gas to perform transactions within the Tron Main Net.

It is a critical resource when you need to use Tron’s decentralized apps in which you could need to perform several transactions while using the app without being worried about running out of tokens. It also gives you prestige as an active member of the Tron Community. That gives you the right to vote for the project’s super representatives.

Energy: This is the resource that allows you to process smart contracts on the Tron network. Smart contracts need energy besides bandwidth so to make it work you need to own enough or both (or to pay the gas price).

Voting for Tron Super Representatives using GuildChat

Casting a vote for Tron’s super representatives was not easy at all. It was rather long and complicated because you had to go to a specific website using some specific browsers that, additionally needed particular browser extensions. Now you can do it using GuildChat following these simple steps:

  1. Go to Me, then to Wallet, and tap your chosen TRX wallet.
  2. Tap on Freeze. Then choose the number of tokens you want to freeze.
  3. Select if your freeze will be for either energy or bandwidth. Just keep in mind that only bandwidth freezes allow you to vote for super representatives.
  4. Find the gear icon (top right) and choose the vote option.
  5. Find the candidate you want to vote for and cast your vote.

It’s really quite easy to follow even without pictures.

Tron continues to be innovative and offer choices and new features that you can’t find in any other blockchain project. The community and leadership always deliver on promises, and the network’s performance has surpassed all expectations, despite all the skepticism it faced in the beginning. Keep an eye on Tron and Justin Sun; you probably won’t be disappointed.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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 StartupStockPhotos/PixaBay

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

Continue Reading

Press Release