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

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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

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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