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Tron (TRX) CEO Justin Sun Challenges Ethereum and Vitalik Buterin

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Justin Sun

A well-known figure in the cryptocurrency world, Justin Sun is undoubtedly charismatic. Of course, that level of confidence and outreach can occasionally cause friction. Sun recently made several comments on Twitter about the Ethereum blockchain, comparing it against his own Tron project. His dedicated community latched onto these statements and ran with them. Unfortunately, this caused some friction with the Ethereum community. This may seem counterproductive, as Tron’s TRX token is still firmly in place on the ERC20 standard. However, the recent launch of the Tron test net means that the two projects will soon diverge.

Sun targeted many of Ethereum’s major statistics. Among his targets was Ethereum’s transaction rate – which still stands at an abysmal 25 per second. He went on to discuss the relatively high fee for these transactions, inversely proportional to the relatively low number of decentralized app users. The picture that Justin paints is a dire one for Ethereum – within his comparison, Ethereum is barely a competitor to Sun’s Tron blockchain.

Of course, the response was quick and biting. Vitalik Buterin, co-founder of Ethereum and head of their development foundation, had some choice words for Mr. Sun. He responded to Justin’s info-graphic with a sarcastic remark about Tron’s recent whitepaper controversy. Ultimately, Ethereum’s dominance over the smart contract field is undisputed. This includes Tron, considering their token’s status as an ERC20 standard. Until the global main net launch, Tron is dependent on the Ethereum blockchain to provide functionality to their TRX token.

Tron Listed on Bithumb

In brighter news for Tron, the last week saw their TRX token added to major South Korean exchange Bithumb. South Korea is a well known hot spot for cryptocurrency, despite their recent governmental hiccups. Leveraging cross-over appeal, Justin Sun’s success in getting TRX listed will give the coin a much-wanted boost. Although Tron has held up better than many altcoins in the recent market correction, it is still significantly below the all-time high.

Bithumb has strict rules for which coins gain listing on their site, and it’s possible that Tron’s proof of concept test net helped push them over the top. This added trading volume is a feather in Sun’s cap as he moves towards Tron’s full main net release next month. If everything goes smoothly, the Tron blockchain may actually compete against Ethereum – just as Sun claimed it would.

Updates on Tron’s Test Net

Tron’s test net has been available since the end of last month, and it has seen heavy adoption in that time frame. Sun announced over 2,500 active nodes in 31 countries, making his project one of the most active in the crypto-sphere as it stands. Given the low volume and lethargic market conditions, this is an impressive accomplishment. Recent market trends suggest that we may have reached the bottom, at least for the near future. Given the success of Tron’s test net in this environment, a market upswing could be extremely lucrative for the new blockchain.

Tron came a long way from their start as a vision and an ERC20 token. Sun’s leadership and the strong showing from Tron’s development team created a visible, working product. Not many blockchains can claim this feat yet. Whether or not Tron will ultimately fulfill all of Justin Sun’s promises has yet to be seen, but they are on the right track.

We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!

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 Philip McMaster via Flickr

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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