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.
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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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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…