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.
For the latest cryptocurrency news, join our Telegram!
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 Maxpixel.net
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…