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Tron (TRX) Testnet Surprises the World

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TRON

Justin Sun, the CEO of TRON, surprised the world by introducing TRON’s testnet. TRON has depended on the ERC20 TRONix token or the Ethereum network all this while. However, TRON’s success story seems to be beginning now as they transfer all their 100 million users to their brand new central system which will be launched in June.

TRON is helping content creators establish a direct network to their customers, making sure that there are no intermediaries. The process will make sure that the user data is protected as well.

Impact of the Testnet

Although the company expected a positive outcome from this new decision that they have made, it looks like TRON is not really meeting such an expected outcome.

The projects market cap has fallen to $900 million as of yesterday. However, this could also be a result of the fall in the overall crypto market. Over the last few days, the market is witnessing a downgrade as most of the prices seem to be going down.

This launch of the Testnet will be very helpful as it gives the project enough data to perform such a transfer. Some predict that although TRON has seen a massive dip earlier this year, there are chances that the price will go up by the month of May.

With this new launch, the company also announces that TRON will make sure to meet its 2018 goals. According to users, the 26-year-old CEO might also be aiming at TRONs potential success as the most substantial Blockchain dApp platform. This new plan regarding the migration will be released within this month.

In a pursuit to meet the expected goal, TRON is also starting a campaign in order to have a global look. This way they will be achieving a global reach and can also get listed in the significant cryptocurrency exchanges. The company expects to be listed on Coinbase as this will help the value to go up a lot more than it is now.

Many investors have been quite critical of TRON’s market impact. Nevertheless, the company is sure to make some difference because they are hoping to get nearly a hundred members in order to make sure there is a smooth operation after Testnet is proved successful. They are also looking to get team members from their partners such as Alibaba.

Since there are many other coins of high-demand, it is not very easy for TRON to make such a massive impact at once. The problems that affect the blockchain technology and digital currency will eventually play a negative role in all the other coins. At this moment even the top coins like Bitcoin is facing a huge crisis.  And so the growth of other coins is likely to be impacted as well

Although the launch of Testnet was a considerable surprise to the digital currency market, this transfer is only a Testnet. The impact of this new move is yet to be witnessed. We will soon know whether TRON will become successful or not. At this moment only predictions can be made.

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 Trinita via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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