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TRON (TRX) Aims To Be One Of The Top Cryptocurrencies
TRON (TRX) is the decentralized ledger protocol that was developed in the blockchain technology. This coin aims to build an entertainment framework for contributing the free distribution of the content around the world. It generally uses a decentralized distributed storage system that is provided by the blockchain technology.
The users of TRON can publish, store and in fact own data. As the consequence of the bearish trend in the crypto market like many other cryptocurrencies in the market, TRON has also been gone through rough waters as most of them affected by the depreciation of their values that is over 50 % of their value.
These upside gains were in fact disenchanted in the first two months of this year due to the growth assumptions and price fluctuations following the concerns for rules and regulations from various countries. Likewise, TRON (TRX) swapped hands at $0.30 in January. It is expected that the holders of the TRON coin should exhibit some concern for this trouble nature of price rates. However, few events happened on March 31, 2018, that show some ray of hopes for the TRON holders. Those important events are TRON coin Burn, TRON Test Net Launch, TRON Mainnet Launch etc.
At a recent ICO Summit, the founder of Cardano mentioned about the possibilities of ADA and its ability to scale with the increased user volume. However, on the other hand, TRON, which is considered the “modern” cache of cryptos has taken one step further by establishing an ecosystem that is entirely based on the cryptocurrency. The network of TRON is designed to encapsulate the modern digital and entertainment industry. It also provides underlying cryptocurrency and technology to spur out the new enterprise. Thus, Justin Sun’s TRON has paved its way for innovation.
With the launch of Test Net and rise of TRON’s Main Net, TRON (TRX) is already one of the top cryptocurrencies.
In early times TRON has been very closely related to Ethereum. Its main features include:
- Capable of performing 1000+ transactions
The network of TRON is capable of performing 1000+ transactions per second and it has the ability to become even larger over time compared to Ethereum it has a tps of 25.
- Free Transactions
The general cost of conducting a TRON transaction is 0.00001 TRX that means the entire cost of TRON network payments can be paid out of the cost of a single TRX token. On the other hand, Ethereum has average transaction fees that range from 0.40-0.60 USD and it hit the range of 4.15 USD per transaction in early January.
- The consequence of Coin burn on 31st March 2018
TRON has higher liquidity because of its 100 billion coin supply giving TRX a more omnipresent presence on a platform as big as what TRON is trying to intend. The announcement of Justin Sun, the founder of TRON, over coin burn, further adds an interesting point on how the TRON’s network will function. If a third party wants to create a new crypto coin on TRON’s network then it requires around 1000 TRX, for removing these tokens permanently. This also means that the value of individual TRX coins will go up as TRON’s network gains in adoption and development.
TRON’s Partnership:
TRON has intensely benefited from its partnership with various industries. We have already seen the effects of such a large pool of potential adopters when TRON trying to trail only Ripple’s XRP in term of the new partnership announcements in 2018. TRON is all settled to draw benefits from the Crypto Bans. TRON is more likely to draw benefits from the disfranchised populations who now feel the pressure to push back.
Conclusion:
TRON is thus, trying to provide a new platform for those who have become fed up with the practice of digital monopoly.
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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 PopTech via Flickr
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. One of the ways to have a successful…
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…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
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