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Tron (TRX) throws in a new surprise prior to its Main Net launch

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Tron will leave Ethereum’s blockchain technology (ERC20) behind as this month ends and will become entirely independent. Then their tokens will also migrate on June 25th once Tron’s Main Net is thoroughly tested. At that point, Tron’s TRX won’t rely on ERC-20 at all.

Tron’s CEO and founder, Mr. Justin Sun, started a countdown regarding the event. It’s been embraced by the crypto community and has brought Tron new attention, partners and listings the world over. So far, more than ten global exchanges have declared to support Tron’s migration (Binance included).

Tron’s team has made a point of keeping their community updated by creating a newsletter that they published recently, and no one else but Justin Sun himself authorized that.

The letter detailed all about the new upgrade process and the launch’s schedule. It even included previously unavailable information about a virtual machine that will come online six days before the net release.

TRX Justin Sun letter

The letter authorized by Mr. Sun!

Mr. Sun announced that TronVM v.0.1 is going to be released on May 25th, and he stated how excited he and the whole team are about this (they are not alone, the entire crypto-world is excited!). The new virtual machine will allow the old Tron dapps built for Ethereum initially, to work on the new Main Net without problems.

There are adapters that developers can make use of to migrate their apps smoothly from Ethereum to Tron. The VM is a run-time environment capable of creating smart contracts and carrying out transactions using Tron’s new blockchain. A reward program was also announced for developers who move from Ethereum network to Tron.

On the last weekend, May 12th, Tron tweeted regarding the update by posting:

The whole Tron team is hoping for a seamless, hassle-free adaptation period in which tokenization will get unrestricted support from everybody. The exchanges that carry Tron have been very clear that users will face no inconvenience at all during the migration. Every transaction will be automatic, done by the exchanges and the Tron team, so there is just no looking back at this point.

A Tron fan, MichaelM, wrote: 

Twitterati Suman Saha added: 

Another Twitter user who goes by the name Cryptoape, tweeted:

Speculator Ady tweeted:

Another crypto enthusiast Trader Afrique said:

These developments have helped Tron and its market performance for sure. It’s just been going through the roof. The number of Tron’s TRX holders went above a million which is nothing to laugh at. 

The market hasn’t been so optimistic as it’s given TRX a $0.073 value after their highest $0.08. Tron’s has lost 10.4% over the last seven days, but Tron remains the tenth best coin and chances are it will go up again. Consequently, I must say that Tron more likely will throw more surprises on our way even before its Mainnet launch – as this crypto apparently loves surprises.

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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.

Chart courtesy of Tobias Limpert via Flickr

Blogs

TRON Partnership Involves Cloud Computing

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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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Altcoins

Ravencoin (RVN) Surges Following Binance Listing

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While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.

About Ravencoin

Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.

Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.

Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.

Ravencoin got listed on Binance prior to MainNet launch

Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.

Getting listed on Binance has brought Ravencoin to the top…

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