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Tron (TRX) wants to decentralized the ‘whole’ internet, is it possible?

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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.

Image courtesy of Maxpixel.net

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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