The last week has been an eventful one for the crypto-verse and crypto-community. Two major and highly anticipated MainNet networks were launched in a span of fewer than 3 days. First was the Tron (TRX) MainNet that was launched on the 31st of May. Then EOS (EOS) stole the headlines with double-digit gains of the token ahead of the MainNet launch that happened on the 2nd of June. Both projects have been hailed as possible Ethereum Killers and the next generation of smart contract platforms with higher transactions per second and other better features.
Will Ethereum (ETH) survive the onslaught of these two MainNets?
For now, Ethereum can be considered as being safe from any threats of Tron or EOS Mainnets taking over as the preferred platforms for Decentralized Applications and smart contracts. Ethereum has already created a foundation for dominance.
How will Ethereum (ETH) still thrive amongst the competition?
To begin with, Ethereum (ETH) is time-tested and has weathered the storm that was security vulnerabilities discovered earlier on in the year as well as the constant FUD with respect to low transactions per second. Yes, the ETH network does get congested due to DApps about animals and kitties, but there is no other stable platform out there that have been tested such as Ethereum. Also to note is the current conversation of introducing sharding on the ETH network. When this concept materializes, ETH will obliterate any competition.
EOS on the other hand recently had a very serious security issue right before the MainNet launch that left many speculating if the MainNet would launch. What was found on the EOS platform, was a vulnerability where a malicious hacker would create and execute a smart contract that would technically hijack the nodes to cause a full-blown cyber attack on other crypto networks. This issue has since been resolved but questions still linger.
When we analyze the current Tron project, the foundation has implemented a $10 Million Bug Bounty program to any developer or team of developers that can find any security vulnerabilities before the 24th of June this year. Also to note is the presence of a Tron hackathon in the Tron Project Genesis calendar to further test the Odyssey MainNet for vulnerabilities. This means the MainNet still has a long way to go in terms of gaining trust from DApp developers and showing network stability.
With respect to market dominance, Ethereum (ETH) is firmly in the number 2 position behind Bitcoin (BTC) and according to market capitalization. As a matter of fact, many Crypto analysts have predicted that ETH will flippen Bitcoin before the end of the year. This means that even crypto-traders still find favor with ETH when it comes to the crypto-markets.
In summary, both TRON and EOS MainNet platforms are a welcome addition to the crypto-verse platform arena. However, they have a long way to go for them to be considered as potential Ethereum Killers with respect to being platforms of choice and general popularity. ETH is also eons ahead when you consider its market presence with respect to both TRX and EOS.
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 Pexels
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…