In a recent tweet, Tron (TRX) founder and CEO, Justin Sun disclosed that his creation, the Tron blockchain is much better than the second most relevant blockchain technologies in the global market capitalization, Ethereum (ETH).
Talking about the roots, Tron as a blockchain technology seeks to decentralize the internet. Since the beginning of the digital coin until recently when the mainnet was launched, Tron’s token, also known as Tronix or TRX were ERC20 smart contracts hosted by the Ethereum platform.
In the tweet, CEO Justin declares that Tron (TRX) is efficient than Ethereum with its speeds clocking speeds of up to 80 times faster than Ethereum’s. A decisive benefit, especially regarding long-term scalability in the medium. In today’s world, transaction speed is a crucial factor that is widely taken into consideration when evaluating the potential and the convenience of mass adoption of a certain blockchain.
TRON is 80 times faster than Ethereum. With 14 years of experience, @BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world! #TRONBT $TRX pic.twitter.com/EsQd34Vq4u
— Justin Sun???? (@justinsuntron) July 27, 2018
The recent purchase of BitTorrent by Tron is a matter of strategic importance for the crypto company. According to the visionary leader, Justin Sun, the merger of BitTorrent’s infrastructure with Tron’s can aid in the creation of a more advanced peer-to-peer platform in the world.
Tron Set Launches its Secret Project: Virtual Machine
The Tron Foundation has revealed its virtual machine project in its testnet mode today, implementation of another step towards making its platform better and competitive than other competitors in the crypto market and beyond.
The event, planned and publicized for weeks, has managed to boost trading volumes and propel Tronix as high as $0.03586 per coin or roughly about 475 Satoshi, as of the press time (even though the price is still in red today, the TRX token was $0.04 yesterday).
Going by Tron’s marketing strategy, Tron Foundation has been announcing roughly one event every month, leading to a boost in prices. However, the recent virtual machine launch announcement and the secret project declaration do not seem to create much of a buzz in the crypto market.
— Justin Sun (@justinsuntron) July 30, 2018
With the implementation of the Virtual Machine project, Tron (TRX) will start to resembling Ethereum’s distributed operating system making it a key element in creating scalable decentralized applications. Unlike Ethereum’s virtual machine, Tron’s virtual machine will not involve the payment of fees. It is yet to be known the type of resources the TVM would require.
DApps and Smart contracts can be initiated and implemented on the virtual machine testnet and arrayed to the Tron Virtual Machine on Super Representative’s nodes.
Tron Vs. Facebook as a Decentralized Blockchain
Tron as a digital currency is generally exchanged via the internet, but unlike other virtual currencies such as Bitcoin or Ripple’s XRP, Tron finds its best niche in the area of entertainment and showbiz with the goal to scrap off usability costs for individuals who want to access entertainment content such as movies and films.
As a decentralized blockchain technology, Tron aims to create a free content entertainment system globally where every user can freely publish, create, store, and archive data while content providers, on the other hand, will be restrained from paying high commissions to centralized networks such as Apple App Store and Google Play. Users will be in control of their information and data unlike in the Facebook situation where user data are leaked to advertising firms.
All in all, things are looking pretty good for the so-called hyped-crypto, Tron (TRX), as the project seems to be a real deal and not just the hot air. With BitTorrent’s 100 million users joining the Tron party, its Virtual Machine launch and robust mission, Tron (TRX) seems to be on its way to at least join top 7 cryptocurrencies list (if not top 5) soon.
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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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…