Connect with us

Blogs

Clash of virtual machines: Cardano (ADA) and Tron to skirmish in Q3 of 2018

Published

on

Cardano Tron
READ LATER - DOWNLOAD THIS POST AS PDF

Most of Tron’s followers and community members probably know that Tron (TRX) launched an upgraded version of its Virtual machine this week. A massive milestone for the Tron community, but what exactly is Tron Virtual Machine?

A Tron Virtual machine is a VM developed by Tron Foundation for the intention of making the Tron network bigger and better. On the other hand, a virtual machine is an application environment or an operating system that imitates a computer system or dedicated hardware.

For instance, a developer using a Windows personal computer needs a UNIX-based operating system to finish a project but cannot afford to buy a new or used UNIX-based computer. With a virtual machine, the developer will be able to create an environment where they can use other software’s and programs in different environments with their existing PC.

The Relevance of Virtual Machine in Blockchain Technology

VM’s are relevant and necessary in blockchain technologies as they are used to test and implement large-scale Decentralized Applications.

Developers have availed the opportunity to create smart contracts that are hosted by the Tron Virtual machine using friendly programming languages created in existing languages that they are familiar with, without necessarily learning new programming languages.

Cardano’s Virtual Machine

Following the precedence that was laid by Tron, Cardano (ADA) has made a milestone achievement this week by launching the testing version of their virtual machine IELE.

Cardano’s virtual machine, IELE, works on a unique programming language that was explicitly developed for creating digital contracts in a secure way on the Cardano protocol. According to an official press release by the IOHK team, the newly released VM is a representation of Cardano’s second test net version while representing the extension of the previously launched test net.

It is believed Cardano’s recent update will have a revolutionary impact on the entire financial infrastructure giving developers and creators the opportunity to utilize smart contract technology as part of the services being offered by Cardano.

In the world of blockchain technology, smart contract technology, at present, is a necessity contributing to the growth of the digital economy by facilitating the movement of any amount of money between two entities that have agreed on the same terms. All this excluding the involvement of third parties, contributing to the decentralization of the internet and financial processes while cost-cutting on time and money required for such activities.

Tron Virtual Machine

The Tron VM is designed to be well-matched with Ethereum’s Virtual Machine and its environment which enables Ethereum creators the leeway to compile and adjust their codes in a platform that facilitates smart contracts in Ethereum to be easily transferable to Tron.

Unlike other virtual machines that depend on gas, Tron VM uses bandwidth, offering free transaction and smart contract facilities on their platform. When it comes to flexibility, developers using TVM are more flexible when it comes to programming complex applications on the Tron platform considering they have less worry about the cost of doing certain tasks and transactions.

In summary, virtual machines incorporation in blockchain technology is widely applauded as a required technology that assists in offering solutions to the shortcomings that have been bedeviling other systems, hence attract a lot of developers. Something that is ultimately good for cryptocurrency and the entire blockchain ecosystem.

For the latest cryptocurrency news, join our Telegram!

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 Maxpixel.net

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite