Connect with us

Blogs

Here is how Tron (TRX) POS to DOS switch will affect the cryptocurrency

Published

on

Tron TRX
READ LATER - DOWNLOAD THIS POST AS PDF

As the 11th largest cryptocurrency in the world, Tron (TRX) has been making headways and headlines in the cryptocurrency sphere for some time now. Tron (TRX) recently launched its new Mainnet platform assisting the blockchain technology company get significant media attention and market penetration after the launch.

After launching it mainnet project, Tron (TRX) also launched its Virtual Machine project with some other ongoing projects in the pipeline, that is to include Tron’s Super Representative election.

Over the past few months, Tron (TRX) has managed to secure a lot of significant listings and partnerships, launching its official TronWallet recently for its Android users. Information from Tron (TRX) tells us that a similar mobile wallet will soon be available to iOS users.

Proof-of-Stake (POS) Vs. Proof-of-Work

One of the areas this article will try and shed more light on is the highly contentious consensus validation methods within the virtual currency ecosystem. For the longest period, there was a simple contradiction between Proof-of-Work and Proof-of-Stake better known as POS.

While the later is known for being more flexible and scalable, the former is said to be more expensive and difficult to execute. But as PoS technology continues to grow and evolve becoming more and more enhanced, the virtual currency community began to request that PoS upgrades its systems to a more secure platform to become the preferred automatic transaction authentication blockchain method.

Conceding from the community’s pressure, PoS upgraded their systems to a more secure level ensuring they were safe from simple attacks and vulnerability on their platform.

And just like the requirement that was given by the crypto community, PoS started converting many institutions and companies to their Proof-of-Stake platform to grow and emerge as the most operational validation network available on the blockchain environment.

But as time goes by, the competitive landscape is changing as well. It is no longer a battle between PoS and PoW, rather a new crop of verification networks is emerging to give institutions newer avenues and platforms to validate transactions and settlements on the blockchain.

More specifically, the emergence of Delegated Proof of Stake (DPoS) into the validation method space has not only changed the playing field but has added introduced democracy as a new factor into the equation.

Recently, Tron Foundation came clear of their intentions to dump PoS for DPoS. PoS has been the prior default validation method used by the Tron blockchain.

The decision to shift to DPoS has caught many by surprise in the cryptocurrency world with reports telling us that the decision to undertake this iconic move was influenced by the in-depth study of the advantages and differences between the two validation methods.

It was on the weekend that Tron foundation disclosed to the world through their Twitter page that the DPoS network would be good for them as it would allow Tron community members to cast their vote in the incoming SR elections.

PoS, like Tron’s (TRX) previous default protocol, miners used to use their own tokens on a block if they wanted to verify the settlements associated with the block. Depending on the length of the transaction and the amount involved, they would then choose one miner to verify the transaction using sophisticated methods to come to that conclusion.

The decision by Tron (TRX) to adopt DPoS is expected to have a weighty and positive effect on the blockchain technology and the public’s perception of the entire consensus validation procedure.

For the latest cryptocurrency news, join our Telegram!

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 Pixabay.com

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

Published

on

crypto credit cards
READ LATER - DOWNLOAD THIS POST AS PDF

It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

Continue Reading

Elite