Justin Sun, Tron’s CEO and the public face of the cryptocurrency, just announced an acceleration of their main net release. Although details are sparse, this is great news for investors. The sooner that Tron releases their proprietary cryptocurrency platform, the better. Despite multiple baseless smear campaigns, consistent progress and high-profile partnerships have kept the public engaged.
The launch of a functional main net will allow Tron to begin porting their TRX token over from the ERC-20 Ethereum standard. Fully breaking away from the Ethereum blockchain will grant Tron several advantages. Chief among them is rapid transactions and low fees – two things that are currently burdening Ethereum.
Main Net Acceleration
A more detailed explanation of the main net advancement is expected soon. Meanwhile, several inferences can be made from previous quotes. First, the test net launch will continue on schedule; beginning March 31st. However, the first release of the full main net platform will start on May 31st, over a month earlier than they had originally anticipated. This is a major win for the cryptocurrency. Once the main net stabilizes, they will be free of the ERC-20 blockchain. From there, they can prove what Tron is truly capable of.
Sun has remarked that their blockchain will be capable of 1,000 transactions per second – more than almost all of their competition. Only Ripple is faster among the top cryptocurrencies. Further, their fees will drop to a negligible fraction of a cent – making transactions on the blockchain effectively free. These two factors combine to make Tron an incredibly attractive location for the creation of decentralized media and applications. Dapps are extremely reliant on a free flow of data within a blockchain, and making that system free of any friction is paramount. Many of Tron’s announced partners intend to use the platform for just these reasons.
The Upcoming Exodus
Both the test net and main net launches are part of the proposed ‘Exodus’ phase of Tron’s roadmap. The first of six phases, Exodus is arguably the most critical component of the entire process. Before Exodus, Tron has no proof of concept technology to showcase. Their ambitious roadmap and all-star team go a long way towards making up for that, and it shows in their market cap. When they have publicly released software and the ability for early adopters to start development, we may very well see that market cap explode.
Their second phase, ‘Odyssey’, will pivot the focus from initial development to early adoption. It’s hard to believe that they could increase the pace of partnerships, given Justin Sun’s near-constant acquisitions. Yet, that’s exactly what they intend to do – and that ultimately depends on the success of the Exodus phase. Once they have a fully functioning product, pulling in more content creators should be easy, comparatively.
A New Platform for Decentralized Gaming
We’ve already seen the rollout of several cryptocurrency based games – including Ethereum’s CryptoKitties and Tron’s own TRX Dogs. Both games have gathered a large user base, despite their relatively primitive features. Once the Tron main net goes live, we’ll see a true renaissance in blockchain based gaming. Where mobile gaming is currently one of the fastest growing aspects of the industry, decentralized applications offer an entirely new avenue.
Mobile games are at the forefront of the micro-transaction economy, but the possibilities are endless inside of the TRX blockchain. Fiat currency powers the mobile market, and money spent in one game is effectively taken out of the system. Decentralized gaming can unify virtual currencies – allowing the transfer of TRX from one gaming app to another. This opens up the possibility of earning currency in one game, only to spend it in another – monetizing the user’s play and driving them to invest more time. When players feel they are gaining real rewards, they are more likely to stay engaged.
Scalability and the Rise of Tron
Investors have seen what cryptocurrency gaming is capable of – but they’ve also seen the drawbacks. Long transaction times and high fees have made some of the earliest games decreasingly feasible. The smart developers haven’t seen this as a sign of decentralized gaming not being viable – they are just waiting for the proper platform to exist. Tron’s expressed abilities are exactly what they’ve been waiting for, and the completion of the Exodus phase will prove that to those waiting in the wings.
People are expecting great things from the Tron blockchain, and Justin Sun is eager to deliver. In the past two weeks, we’ve seen a 10% increase in the price per unit of the TRX token – and that’s just based on announcements alone. The release of the test net will give everyone a taste of what Tron can do. It will also give investors the chance to be an early adopter – before the main net rolls out, and the price point of entry rises significantly to match.
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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.
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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…