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.
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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 Trinita via Flickr
Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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