A majority of big internet players such as Facebook, Youtube, and Google offer free internet services to their users. As a result, they in turn store and sell their users’ data to other large advertising corporations who flood our eyes with the things we need.
As a result of this inference, a decentralized protocol grounded a blockchain technology tailor-made for the entertainment industry is born. Tron (TRX) is the name of the revolutionary Blockchain technology. Tron intends to make its users the real architects of the data they publish on the platform enabling them to exercise total control over their online activities.
With that said, and with Tron (TRX) intending to be the preferred platform for content delivery of which its storage is distributed, data uploaded on the Tron platform gets stored on personal computers of network members who wish to do so instead of being stored on servers like in the case with big Internet corporations.
In exchange for the decentralized functionality and storage, users will have to acquire the blockchain’s currency, the Tronix or TRX to be their default virtual currency in their everyday virtual trade dealings.
The issue of decentralizing the internet is not new, and Tron is not alone in this quest. Many players are also involved in activities that would make the current centralized internet more localized.
Players such as the Mozilla Foundation, a nonprofit organization that finances the open-source tools and the Firefox browser, Richard Hendricks, the man behind HBO’s Silicon Valley, and Sir Tim Berners-Lee, the originator of the world wide web all want to see a more decentralized internet.
What’s the Problem with the Internet? Isn’t it Already Decentralized?
The answer to the question is Yes and No. The Internet is physically localized since no single corporation or entity can claim ownership to it, but at large, centralized service providers sustain its essential services such as social media, cloud computing, search engines, DNS services, email services, web hosting, and many other services.
These services heavily depend on resources that are highly concentrated in limited physical and virtual servers. This situation allows and makes it convenient for corporations to maintain the services they offer to internet users.
It’s a centralized working architecture, but it sometimes creates problems by holding hostage internet users. If the servers of these corporations go down for whatever reason, we lose total access to essential functionalities and services.
If they get compromised through cyber-attacks, we lose personal data. If they decide to sell our data to other advertising companies, there is nothing we can do. We do not have any control over our own internet experience. Simple.
Can Tron Decentralize the Internet?
Decentralizing the internet is not just a fancy word to be used to boost virtual currency trading and prices to a public unsuspecting. On Tron part, it is a rigorous process that in the end will give users back the power to control their destinies on the Internet.
In a time where information is taken without consent and sold to companies with the deepest pockets, decentralization is indeed a requirement and a necessity. Although being a tough feat to achieve, we believe Tron (TRX) under the leadership of visionary Justin Sun, has what it takes to decentralize the internet as much as possible.
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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.
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XRP Surges By 8% In A Surprise Bull Run
The new price surge that surrounded almost the entire crypto market brought quite a pleasant surprise for XRP holders, as Ripple grew in price by over 8% in the last 24 hours. In fact, XRP managed to achieve a price surge equal to that of Ethereum as of this morning.
While the third largest cryptocurrency is still quite behind ETH when it comes to market cap, many believe that it is only a matter of time before XRP regains its former glory. With that being said, a lot of people are still more than pleased with seeing Ripple climbing back to more stable levels, especially after a big price drop that hit the coin last week.
The new hike up allowed XRP to climb back to $0.446322. While this is still low when compared to its highest point in the last week ($0.52), the coin still seems to be well on its way to recovery. In fact, many believe that XRP has found a new bottom, one that is significantly higher than the last one. Most of this new success can be traced back to a price surge that Ripple has had recently when it even managed to briefly overthrow Ethereum as the second largest coin by market cap.
Despite its drop since then, XRP still remains one of the coins with the strongest growth in the last month. While the market is still far from stable,…
If Tether crashes, will that money pour into Bitcoin?
For a long time now, the so-called stablecoin, Tether (USDT) has been a topic of discussion within the crypto community.
Tether, as a stablecoin, is said to be fully backed by the USD. This allowed it to be one of only a handful of cryptos that can avoid volatility issues, due to the fact that it is backed by a stable fiat currency. However, for as long as it was around, Tether was very secretive of its bank accounts and funds in general.
While claiming to have the ability to back each of its USDT coins, many have questioned whether or not this can be true. At the time of writing (October 16, 2018), Tether has released 2,256,421,736 USDT in circulation. This means that it needs to have at least $2,256,421,736 in order to cover its circulating supply.
At this point, three questions emerge, and answering them could very well change the future of this stablecoin. The questions are as follows:
- Are all USDT coins fully backed?
- If yes, then where did that much money come from?
- If not, what will happen when the market discovers the lie?
Tether continues to keep secrets
As mentioned, Tether has always claimed to be able to back each of its coins. However, instead of operating on transparency, the coin used different tools, mostly opaqueness, misdirection, and playing the victim whenever someone tried to unveil what is truly going…
Is Bitcoin (BTC) Better Than USD?
Despite all its recent progress, cryptocurrencies still do not inspire trust in a lot of people. Many view them as unsafe money, with its very nature being doubtful. However, a recent report by the Polish Academy of Sciences’ Institute of Nuclear Physics shows that situation regarding cryptocurrencies may not be as bad as it seems. In fact, the report claims that Bitcoin might even be a better currency than it looks like.
Bitcoin vs traditional money
Bitcoin, as many are already aware of, is the first cryptocurrency. It was created a decade ago and was officially launched in 2009. But, even though it has been around for around 9 years at this point, it is still largely mistrusted by a lot of investors, especially when it comes to large institutions.
However, thanks to the Cracow-based Institute of Nuclear Physics’ recent report, this common opinion might actually be wrong. The Institute has conducted a detailed statistical analysis of the BTC market and has published the results in a scientific journal called Chaos: An Interdisciplinary Journal of Nonlinear Science.
Surprisingly enough, the report portraits Bitcoin in a very positive light.
The report started by commenting on the credibility of traditional money. In the past, money that people have been using was backed by specific material commodities, such as gold. These commodities gave the money its value and served as a guarantee that the money actually has worth. This is…
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