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Tron CEO explains project Atlas after the TVM launch, in detail

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Tron Project Atlas
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The whole world has been anticipating and wanting some explanation concerning Tron’s new project known as Project Atlas ever since the Tron Foundation announced it.

Tron (TRX) recently launched its Virtual Machine (August 31st), and during the launch, Sun used the opportunity to explain Project Atlas to the Tron community in detail. The CEO stated that the project would help Tron network to incorporate BitTorrent at its best.

Before we dig deeper as per how Mr.Sun explained Project Atlas, it’s worth noting that the procurement of BitTorrent is now regarded as the best in the crypto world and it has been recognized by profound cryptocurrency owners and enthusiasts today.

The ‘Project Atlas’

Project Atlas is a new plan that aims to link “BitTorrent’s  p2p (peer-to-peer) network and Tron blockchain.” The project also focuses on rewarding peers that seed torrents and to create a token ecosystem that’s in-client. The project will also solve the problem of cross-border payments and content distribution.

BitTorrent announced a recent statement on the fallout of about five of its staff after its acquisition by Tron Foundation. Nevertheless, BitTorrent also added that it has increased in the number of employees and that the company is experiencing massive growth at the moment.

Subsequently, during the launch of TVM (Tron Virtual Machine), Justin stated:

after the BitTorrent acquisition, we have identified a strong work ethic that embodies the spirit of technology and innovation. Since the end of June, 16 outstanding colleagues have joined us. Half of them are former engineers at Facebook, Google, Tencent, Alibaba, Airbnb, and other top internet companies. They will work on Project Atlas.”

Moving forward, Sun stated the theory of Project Atlas from Satoshi Nakamoto’s declarations on BitTorrent acquisition as a model of his Bitcoin’s Peer to Peer Cryptography Mailing List in 2008.

The model of the Bitcoin progenitor further expatiated on the website of Project Atlas as:

For transferable proof of work tokens to have value, they must have monetary value. To have monetary value, they must be transferred within a very large network – for example a file-trading network akin to BitTorrent.”

It is important to know that Project Atlas will make use of BitTorrent’s protocol extensions together with a custom token. This system, as stated by Tron CEO, will help revolutionize the world.

Also, the ‘Project Atlas’ does not make use of a mining system or whatsoever; instead, users participate in exchanging available tokens within themselves. Concerning that, Justin said:

The Tron blockchain is safeguarded by the dedicated proof of stake system along side of the project atlas token economy.”

This secret Tron project (yes, the Foundation has had kept Project Atlas as the secret for quite sometime before its launch) will reward users just for file uploads, thus encouraging them to seed files even after they have been downloaded.  Additionally, storage space will be incorporated into the Torrent system and raise Torrent’s accessibility.

Sun further expressed that Project Atlas will be backward-compatible with all BitTorrent users.

Meanwhile, during the launch of TVM, Tron increased by 4 percent. But at the time of writing, Tron (TRX) has slipped from its NO. 12th position to 13th after being overtaken by Monero (XMR) and DASH. Currently, the coin is priced at $0.02493 despite the successful launch of its TVM.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pxhere.com

Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON
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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRX
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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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