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Ethereum killers? Think Tron (TRX) and Qtum, according to startup mentor

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The notion of “Ethereum Killers” has been floating around the cryptosphere for months now. The constant complaints Ethereum users have had about gas price and network speed has prompted this idea to surface, and nobody doubts that the smart contract dominance held by Ethereum since it came live is about to end. But by whom?

Yoav Vilner, a blockchain blogger, based out of New York and Tel Aviv who is also a startup mentor for Microsoft and Google’s “accelerator” projects, wrote a piece for Forbes in which he declared that Qtum and Tron would take over Ethereum’s dominance once and for all.

Qtum and Tron vs. Ethereum

Mr. Vilner had good things to say about Qtum’s hybrid distributed ledger technology; he called it “the next phase of the blockchain.” The Qtum project includes a new virtual machine, based on x86 technology, that’s been recently released.

It offers a better “value proposition” than Ethereum. Because this VM is x86 instead of the usual VM in the crypto community (which are usually based on a single language or technology), the new machine opens up a new world of possibilities because it allows for the chance to develop apps in a broader range of programming languages that still run on a blockchain.

Think for a moment what this means. You don’t need to learn a specialized programming language to enter the blockchain world anymore. With this VM you can use your knowledge about Perl, Python, Ruby, or even Pascal or Basic to create decentralized apps and smart contracts.

Tron has similar features. Its platform doesn’t allow for that wide range of programming languages, but it works in Java which is, maybe, the one language every competent programmer knows, so that makes it versatile and easy to work with as well.

Ethereum has none of those advantages. Developing contracts or applications on Ethereum requires learning “Solidity” which is the platform’s programming language, and most programmers in the world have never even heard about it.

Mr. Vilner also emphasized Qtum’s higher efficiency. Qtum uses a technology called SegWit (segregated witness) which separates transaction signature data from other data such as actual transactions. That makes everything quicker and saves energy.

Another point in Qtum’s favor is its ability to use the Lighting Network, which is an additional layer in blockchain technology (initially developed for Bitcoin) that allows for faster transaction speeds. Then there’s QtumX which will be launched next year, according to Mr. Vilner.

What is QtumX, we hear you ask? It’s the project’s smart contract platform for industrial users such as large corporations. In the project’s blog’s words, this platform will have “stability, and could widely increase exchange efficiency and guarantee the safety of the network at the same time.”

But the new platform is not deployed, and it hasn’t been tested in full yet. So, as things stand, it’s anybody’s guess if it will really be better than Ethereum or Bitcoin.

Mr. Vilner (who also contributes for CNBC) also wrote that Tron (founded and led by the provocative Justin Sun) would change the way in which content producers and consumers interact and transact over the web by decentralizing the internet.

Centralization at Tron

Mr. Vilner also reported Tron’s acquisition of BitTorrent, the largest P2P network on the internet. BitTorrent is becoming part of Tron’s blockchain through Project Atlas. The new torrent network will offer incentives to share files, in the form of Tronix tokens, and that will help Tron become “one of the largest decentralized networks in the world.”

But a closer look into Tron’s governance model reveals that the network will be dominated by 27 block producers, which will be the nodes that validate transactions and create new blocks. These nodes will be the engine in Tron’s blockchain, but some observers consider 27 to be a small number of nodes and it looks too much like a centralized network.

Here, at GlobalCoinReport, we’ve followed the development closely in Tron, EOS, Cardano and many other cryptocurrency projects. EOS has a similar model; it has 21 block producers, selected by the community.

This has been quite controversial as these block producers have been accused of “colluding.” This smells of centralization in a network that swears by decentralization and democracy. The same could happen at Tron.

Is Mr. Vilner nitpicking? Maybe. Keep in mind that 80% of Bitcoin’s nodes are located in China, and nobody is complaining about centralization for Bitcoin (well, Ripple is, but that’s another story you can read in GlobalCoinReport as well.)

For the time being, both Tron and Qtum are very interesting projects that could make blockchain technology useful and profitable for those who get a piece of the action early enough. You could be one of them.

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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 Pixabay

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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