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Tron (TRX) Sees the Silver Lining

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Volatility is part and parcel of the cryptocurrency market. The first quarter of 2018 had largely seen a bearish trend in the cryptocurrency market and most the coins were in the red. However, the beginning of Q2 of this year seems to have brought on the silver lining.

Top-ranked cryptocurrencies like Tron (TRX) have overcome the turbulence and seems to have geared up for a bull run. Those who have been watching TRX think that the crypto-coin is going to make a big development in the near future that will list it within the top ten cryptocurrencies. One major reason behind this development of Tron (TRX) is its hardworking and enthusiastic development team. Some reports reveal that near about 41 contributors have given over 1,440 commits.

Justin Sun, the founder of Tron, had recently announced on Twitter about a possible liberalization of cryptocurrencies in Taiwan.

“Livestream with Taiwanese legislator Jason Hsu in 30min at 11 am GMT+8 to talk about blockchain & cryptocurrency. Taiwan is moving towards liberalizing crypto! Livestream in Mandarin, EN subtitles coming soon.”

Justin Sun Challenging Vitalik Buterin and Ethereum (ETH)

The challenge started when Justin Sun had started comparing the Ethereum blockchain to Tron on Twitter. Sun mocked that the transaction rate on the Ethereum blockchain still stands at 25 transactions per second. Moreover, the fee for these transactions is also higher than that on the Tron blockchain (zero fees). The launch of the test net of Tron last month had heralded separation of Tron from the ERC20 platform. This is expected to seriously affect Ethereum considering the fact that Tron has an extensive user base on its dApps. If the features provided by Tron offer more than that of Ethereum then the users are more likely to migrate from Ethereum. According to Justin Sun, Tron has developed its native platform by keeping in mind what Ethereum lacks.

Justin Sun’s voice clearly stated on the launch event of the test net:

“From today to the last day, we are no longer the ERC20 token and in the future, we will compete with Ethereum as a dApp platform. We will compete face-to-face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum. I will explain to you why we can surpass Ethereum in the future.”

Tron presently boasts having over 100 million users on its dApps. These will be transferred to the main net after its launch. This can even make Tron one of the largest blockchain dApp platforms.

With the launch of the main net, Tron claims that it is capable of solving scalability issues. Progressing towards the path of completely solving it, the Tron network will be able to conduct 1000 transactions at the rate of 1000 per second after Main Net’s launch. It is expected by the development team that the number will only increase as the developers continue to add to the platform. Tron has interested many cryptocurrency enthusiasts and recently Justin Sun had declared that there are more than 2500 active nodes in 31 countries. The statistics suggest the Tron main net project as one of the most active projects in the cryptocurrency arena.

The Tron Airdrop of 30 million coins

Even though Justin Sun had challenged Ethereum that the development team will raise Tron to newer heights, it cannot be ignored that Tron was initially developed as an ERC20 token on the Ethereum blockchain. Tron had thus generously announced on 21st April 2018 that it will airdrop 30 million TRX to the Ethereum community. According to the team of Tron:

“TRON will airdrop 30M TRX to the Ethereum community as a show of our gratitude towards Ethereum for their support during TRON’s ERC20 phase, in addition to preparing for the Super Representative Elections after mainnet launch. TRON will airdrop 30M TRX (equivalent to approx. USD$1.7M) to an active user with a balance of over 1 ETH after January 1, 2018.”

The airdrop will reward 10 to 100 TRX tokens to the ETH holders that they can exchange for the main net tokens later. The TRX token holders will have the right to decide on the different types of nodes and delegates.

According to coinmarketcap.com, at the time of writing, the price of TRX shows $0.07 USD approximately, the volume (24h) nearly $570 million USD. (As of 24th April 2018) The news of the airdrop saw a surge in the market cap. The recent developments and the unique features of the crypto coin are lending towards an uptrend in the second quarter. According to the team of Tron, the objective in Q3 of 2018 is to offer comprehensive support to third-party APPs and also aims to provide reliable system-level support. It will also incorporate optimized peer to peer network systems and performance focused pluggable smart contract virtual machines. The last quarter of the year is reserved for cross-chain communications and privacy concerns.

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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 Gina via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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