The Tron (TRX) MainNet was successfully launched on the 31st of May at 11 am UTC + 8. As is usual with any launch, Justin Sun was there to inspire the Tron fans and HODLers and reiterate the vision of the project to decentralize the web. The recording of the live event has been uploaded on Youtube for you to re-watch. Justin would later accompany the MainNet event with further outlining the vision of TRON as an Independent blockchain from Ethereum’s.
The big question is, and with the enthusiasm of the Tron team, will Tron (TRX) eventually outshine Ethereum?
The next question is, how will TRON achieve that?
To begin with, and outlined by Justin Sun in the letter to the Tron members, the Tron MainNet platform will be different than Ethereum’s due to the fact that it is built using the Java programming language. This means it is easier to program on the TRON Odyssey V2.0 platform than it is for a developer to learn the Solidity programming language necessary to create Decentralized Apps on the Ethereum platform.
Still, on the needs of the developer, the TRON platform can handle more transactions per second (TPS) and hence obliterating network congestion as seen on ETH during the Crypto-Kitties launch last year. This, in turn, makes it a favorite for any developer who wants to create the next level of fast DApps.
The second reason the TRON MainNet might outshine Ethereum is the new concept of democratizing the platform using Super Representation. Any TRX can leverage his/her coins so as to be part of the decision making in the community. This is the complete opposite of the ETH platform where the foundation makes all the decisions. By allowing for true decentralization, users know their input is going to be considered and implemented in a democratic manner.
The third, and most likely the biggest reason TRON MainNet might outshine Ethereum’s platform, is the amount of community support the project has gathered. Currently, TRON Odyssey 2.0 has accumulated 2,153 commits on Github, merged 547 forks, released 15 software iterations, and added 102 new features. The team has also performed 384 unit tests, 461 function tests and managed to scrutinize the code to guarantee it is secure for release.
Also to add, and with respect to the Tron Community, is that TRX holders number 1.08 Million compared to EOS’ holders who number 306,000. This makes TRON the project with the highest HODLers on the ETH platform who will soon migrate to the MainNet by the 25th of June. Justin also has over 448,000 followers on Twitter and the project has over 3.82 Million related videos on youtube. This means that the community support is unlike no other.
In conclusion, the Tron project might end up eventually eclipsing its parent platform, Ethereum, due to the reasons highlighted above. Current market analysis shows that TRX is yet to pick up in the crypto-market after the MainNet launch a few days ago. TRX is currently valued at $0.058 at the moment of writing this and down almost 5% in 24 hours.
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…