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India’s Federal Bank joins the blockchain era

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Federal Bank is a traditional financial institution from India. The name alone makes it sound huge and vital. And it is. This particular bank (headquartered in Aluva, Kochi, Kerala) is one of the subcontinent’s leading institutions with 1251 branches and 1665 ATMs scattered all over the country. It also operates in Duba and Abu Dhabi.

Because of its sheer size and market penetration, Federal Bank manages about 15% of all remittances arriving in India, so it’s a critical player in the market.

And it’s looking to modernize and get up to date. Last Thursday, it brought online two new remittance services in the UAE in close association with partner exchanges and banks so that remittances to India through Federal Bank become a better option for customers and partners alike.

The bank is making this move in the hopes that offering better solutions based on new technologies will improve the customer experience thus increasing its share in the market.

Shyam Srinivasan, MD & CEO, Federal Bank, explained,

“Federal Bank is an important part of the remittance eco-system to India, so, it is only natural for us to offer the latest technology to our customers and remittance partners such as exchange houses and banks”

One of the new solutions the bank is working with is blockchain technology, which it recently updated. The new platform it adopted is easy to use.

It’s the plug-and-play of international transactions, and it allows exchanges, remittances, and banks all over the Middle East to connect among themselves and transact in a seamless and fast (almost real-time) way. Lulu Exchange, for instance (based in the UAE), has implemented this cross-border payments platform recently as well.

NRI’s are also in the bank’s mind as it launched the platform. Beneficiaries can get their money using a memory-friendly Virtual Payment Address (VPA).

This platform complies with the UPI 2.0 standards, which are the currently valid upgrade to the Unified Payment Interface by National Payment Corporation of India. And this system enables customers to send money into India employing VPAs.

But the most exciting part is that the bank is partnering up with none other than Ripple. Ripple is a blockchain technology company which has been trying precisely to take advantage of its blockchain network, software platforms, and digital currency to remove as much friction as possible from the hassle of settling international payments.

“For long Federal Bank has endeavored to bring our non-resident clientele closer to their homes. Each of our digital offerings has been designed with this objective in mind,” explained Srinivasan.

Federal Bank is growing in two-digit rates in loans and deposits.

Times are good for Federal Bank. Just last December, it reported that its loans and deposits business had grown y more than 20% each. This is in an industry in which low single digits are celebrated when it comes to growth. The bank’s CEO said that,

“Both credit and deposit growth for the bank over last many quarters has been well into the 20s. Both the low cost and the overall deposit growth has been quite good. We have close to 1 percent overall deposit market share and we are growing close to 2 percent. On the incremental deposit addition in the market, we are getting close to 2 percent of the share.”

This hasn’t been fortuitous. The bank’s credit has been expanding consistently for ten quarters in a row, and it expects to keep growing at high rates in the near future too.

The bank’s health is beyond questioning. Its NPL (non-performing loans ratio) is around 3% only “For many quarters now; we have maintained consistent asset quality. We expect to maintain the cost of credit at around 65 basis points, in line with our earlier guidance,” according to Mr. Srinivasan.

But further expansion for this already large bank can only be possible by focusing on digital financial technology. “The theme is branch light and distribution heavy. We have put in more relationship managers, so we go out more than the clients come to us.”

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Abcc, a crypto exchange outside the Tron network, lists Tron Weekly

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The Abcc exchange and Tron Weekly

Abcc is a cryptocurrency exchange which prides itself in being world-class. It aims to provide a trading experience that is user-centric and frictionless. Just today, the platform has announced it will list the Tron Weekly token, and there will be a very aggressive campaign to support the token.

And what is Tron Weekly? The Tron Weekly Journal is a Tron-based project. It’s something of a digital magazine or newspaper that reports news on all things Tron. It’s a handy website if you’re into Tron because there’s so much happening within the Tron community all the time, it’s just impossible to keep up with the news on your own. This journal issues a Tron-based token of its own, which is called Tron Weekly. And that’s the token that Abcc will be supporting.

The campaign

Let’s talk a bit about the campaign. It starts today, and it lasts until next Tuesday, April 9th, at UTC+8.

Let’s say you’re a trader at Abcc and that you hold more than 1.5 Million Tron Weekly (don’t be scared, that’s about 300 USD only), or that you are holding more than 1,000 AT by the campaign’s end. In that case, you’re eligible to win several prices, according to the following list:

  • First reward: 20,000,000 Tron Weekly
  • Second reward: 10,000,000 Tron Weekly
  • Third reward: 5,000,000 Tron Weekly
  • Fourth to tenth: Equal share of 15,000,000 Tron Weekly
  • Other rewards: 20,000,000 distributed equally.

Terms and conditions apply, of course. You must complete the KYC (know your customer) procedure, which many users find a tiny bit intrusive. All your deposits must be in place before the campaign’s end.

You can’t withdraw your coins before April 21st (well, you can, but then you lose your eligibility for the campaign). The rewards will be credited into ABCC’s accounts before April 28th.

The campaign will give away 70 million Tron Weekly tokens in total.

This is an exciting development for Tron and the Tron Weekly Journal. It means that a thoroughly serious digital asset exchange is willing to support the Tron Weekly token, which is fantastic if you take into account that we’re not talking about Tron’s principal coin (Tronix or TRX) but a derivative currency issued by one of Tron’s projects. It’s great news for the journal as it shows it’s establishing itself as a reliable and reputable source for news about Tron both within and without the Tron community.

The Tron Weekly Journal is a very young project that’s been scoring lots of successes recently.

As we write this, our token, Tron Weekly trades at 0.0105 TRX at Abcc. Tronix itself is trading at USD 0.026028 (7.35%) and in green numbers, and it’s ranked 11th by market capitalization.

As time goes by, Tron and Tron’s projects keep making headway in the crypto verse in spectacular ways, which just comes to show that the Tron Foundation is very well managed, but not only the foundation, but also every individual project.

But even if you’re not all that interested in Tron or in the Tron Weekly Journal, this is an excellent opportunity to earn a little passive income, and at it will take from you will be to risk 300 USD. Come and join the party!

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Biggest Japan railway firm plans crypto payment system for its 70M card holders

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Ever since the inception of cryptocurrency in 2009 by Satoshi Nakamoto, who developed the first ever digital currency, bitcoin, and devised the very first blockchain database, the whole world has taken a new turn in terms of businesses affairs. Although the phenomenon of digital assets is still not understood by a large range of people, governments, and banks – but many renowned companies are starting to recognize its importance.

Japan, among various other first world countries, has always been a firm supporter of the digital economy and has a strong inclination towards technologists and innovation generally.

Last week on March 27, DeCurret, a year old cryptocurrency exchange from Japan, announced the introduction of a new payment system for the railway commuters of the country. The announcement unveiled onto the crypto mania by Kazuhiro Tokita, president, and the director of the exchange, during a business presentation in Tokyo.

The presentation was reported by the Cointelegraph Japan the same day.

According to the report, JR Group (Japan Railways Group), the country’s largest railway operator, is planning to establish a cryptocurrency payment facility for its commuters which will in result witness millions of individuals use digital currency as a mean for their transportation.

Once established, millions of commuters will be able to recharge their Suica payment card which is issued by the JR Group using digital cash. Although the report reveals that there are no tangible plans yet and the company is primarily intending for the implementation only at the moment.

It is worth noting that as of the end of March last year, the company issued about 70 million Suica cards.  For this reason, many crypto experts are rooting for this move as it will ensure the massive adoption where millions of active clients of the railway group would use the cryptocurrencies for the payments and the services provided by the group.

According to the CoinTelegraph Japan, the exchange, DeCurret has been given permission by the country’s financial regulator FSA (Financial Services Agency) to operate in the country and is set to start trading from 16th of April.

The exchange plans to introduce Bitcoin, XRP, Litecoin and Bitcoin Cash at the time of launch and hinted about the inclusion of Ethereum by the early summer. Consequently, if JR Group goes forward with its plan of integrating the direct cashless payments system, the cryptocurrencies mentioned above will be the ones supported by it.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Bitcoin today: The crypto market giant surges above $4,500

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That’s right folks, the most significant cryptocurrency is at over $4,500, a psychological barrier that’s been bugging the whole crypto sector for some time. This is a historic new milestone for Bitcoin since 20 November last year and hence shattered the four months of calm.

Not an Extended April’s Fool Joke

Today bitcoin has experienced fast and furious growth in an hour or so which has left the crypto community with excitement as the giant crypto keeps registering wild price moves.

Perhaps, if there were ever that time for one to assume an end of an era for the bear market, now would be that ideal time. Precisely, the general market today surged a whopping $20 billion as bitcoin smashed into over its 200-day moving average.

However, it’s not clear yet what might have triggered this mammoth-size growth. There’re some suggestions though that the move might have been as a result of a short squeeze on Bitfinex, and hence implying that the Bitcoin bulls shouldn’t get too much excited yet as if that should be the case, only a matter of time before the price gets back itself to $4,200.

The sudden swings in Bitcoin don’t come as a surprise given that trading in virtual currency has been subdued this year with investors weighing the prospect for a more mainstream adoption especially after 2018’s 74% crash.

The move for bitcoin has just happened so rapid as it has broken through not one but at least three significant resistance levels at $4,200, $4,420, and $4,567. The surge saw it’s market cap rise from $5.1 billion to around $78.8 billion.

Where Bitcoin Goes, the Rest Follow

Just as expected, such bitcoin rapid increase turned as well the whole market into the green. However, among the top 10, Bitcoin remains the biggest gainer with a double-digit price uptick.

Rival coins such as Litecoin, Ripple, and Ether as well are on the uptrend, and a similar case was experienced in the crypto-linked stocks in Asia such as Remixpoint Inc. and Monex Group Inc.

Generally, the value of the cryptos tracked by CoinMarketCAP.com rose by up to $20 billion within just an hour.

Bull Rally a Trap?

Will bitcoin go down again? Bitcoin might have hit the highest today at around $5,130 as per the Bitmex chart before correcting downwards again with strong resistance at $4,800. Several analysts give their thoughts that the current move may be a bull trap which might soon break.

Nevertheless, for some few months now, this kind of moves have not been experienced, and hence many can speculate with much certainty, that the bear market is just but over and the next Bull Run has commenced.

https://twitter.com/cjking711/status/1113019080288632832

For now, the price might be going up faster than even when I went down, and it appears 2019 is that year to be excited.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

All about Tron’s Foundation 100 day campaign for USDT-Tron

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Tron

Have you ever heard about Tron? If you can answer affirmatively, then you already know that it’s not your run-of-the-mill blockchain project or network. In fact, it’s radically different from most other blockchains and digital assets. But if you haven’t heard about it yet, that’s why we’re here.

Tron is a blockchain project founded by Justin Sun, who’s Jack Ma’s (of Alibaba’s billionaire fame) close friend and protegé. When Mr. Sun got Tron started, he already had made a name for himself as a successful technology business entrepreneur by founding China’s most important and widely used mobile messaging app. This didn’t happen very long ago, it hasn’t been even two years since Tron started.

Tron came to life running on Ethereum (as so many other exciting projects have) but, as time went by, Ethereum’s problems with scalability, low speeds, and high gas cost became increasingly apparent. Also apparent was Ethereum’s leadership’s lack of solutions for all those problems. The result was that Tron decided to launch its very own Main Net and leave Vitalik Buterin’s blockchain behind. This wasn’t an arbitrary move. Many other blockchain projects have either started their own networks or moved to different blockchains because they find Ethereum’s performance unbearable.

Tron’s new network turned out to be a dream come true. It’s fast, reliable, and while it has a concept similar to Ethereum’s gas, the cost is really cheap. It’s been so successful that only a few months after becoming independent, Tron had already the cryptoverse’s highest number of decentralized applications running on its blockchain.

But there’s one critical thing about Tron we haven’t mentioned yet. It has a very clear ambition which is to use blockchain technology to decentralize the web. That’s the priority. This is how Tron differs from most other blockchain projects: it has an objective, and it’s not purely financial. That’s not to say that it doesn’t have a native token. It does, it’s called Tronix or TRX. And since Tron includes two technologies to launch TRX-based cryptocurrencies, the network now includes lots of extant altcoins.

In many (maybe most) blockchain projects, the coin is all that matters. There’s nothing wrong with that. That’s how cryptocurrencies came into the world, starting with Bitcoin. But as the power of blockchain technology has proven it can be revolutionary in a myriad of use cases, a few new projects have appeared that aim to take advantage of blockchains for things that include, but are not limited, to issuing currencies. Bitcoin would be the classic example of a blockchain network that’s 100% centered in its cryptocurrency, but it’s not the only one. Think about Tether for instance.

Tether

Tether is another blockchain project (its blockchain is called “Omni”) seriously organized around its altcoin, called USDT. This token is a novel idea because each token is backed in reality by a US Dollar. The reasoning behind that structure is that, if you have a cryptocurrency that’s supported by something more real or physical than just calculating collisions in cryptographic functions, then the said coin should be immune to the crypto verse’s already infamous volatility. And it’s worked so far.

Tether and USDT are exciting projects that could become exceedingly relevant in the crypto verse (and even in the real world) in the following years, but there’s a problem. The Omni blockchain isn’t that great. It’s not too fast, and it’s rather expensive to transact there. But unlike Ethereum’s leadership, the people behind Tether are willing to do something about it. And what is that, I hear you ask? Well, to put it simply, they’re joining Tron.

Tether chooses Tron

Why join Tron? There’s every reason. By changing the USDT tokens from the Omni blockchain to Tron’s, you gain every advantage Tron has for the token. That means that transacting and using USDT Tron will be faster, cheaper, more reliable. And those things are not just about convenience. See, if there is something that characterizes the US Dollar in the whole world, that’s its liquidity.

That means that whatever your local fiat currency is (and it applies to cryptocurrencies too), there are always enough dollars in the market so that you can do any business you want without having to wait for somebody else to be willing to sell dollars to you or to buy them from you. The USDT Omni has been facing a situation that is not lack of liquidity, but it resembles its consequences because of the long transaction times.

So, Tether is migrating the USDT cryptocurrency to Tron, and the Tron Foundation and Mr. Justin Sun are trying to bring awareness to the community by orchestrating a 100-day campaign. And if you choose your timing carefully, that campaign could earn you a little passive income.

The campaign starts next April 30th, and it will continue until August 17th, 2019. Tron will invest USD 20 million beginning in the current month of April, and that could earn you as much as 20$ on the number of tokens you’re swapping from Omni to Tron.

So if you own some of the soon to disappear USDT-Omni tokens, you should swap them for the new Tron tokens as quickly as possible. And if you don’t, well, you might as well buy some. It will be an easy way to make 20% on your investment.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron (TRX): Wisdom in the guise of two Tesla cars

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It started like this

A few exciting things have happened on March 12th in History. Let’s see. That was the day in which Moscow became Russia’s capital (1918); in 1930 Gandhi started the Salt March, which had momentous repercussions in Indian society; the Truman Doctrine was proclaimed in 1947; it was the day in which the Church of England ordained its first female priest (1994), and we could keep going on.

For cryptonauts, this could become the day remembered because it was when Justin Sun (Tron’s CEO and founder) announced to the world that he was in a thoroughly celebratory mood. Mr. Sun felt like celebrating the current success enjoyed by several of his ongoing projects, namely Tron, USDT (the stable coin that will be co-launched with Tether in Tron’s network), and BTT (the BitTorrent Token that will power the new Tron-based BitTorrent network).

So Mr. Sun used his Twitter account (as usual) to get the party started which consists of a USD 20 million dollar USDT that would happen only after Mr. Sun would randomly give a Tesla car way to one of his Tweeter followers. See, there’s really no question about why Mr. Sun is considered to be one of the most adept marketing tacticians in the world, let alone the cryptosphere.

So the unavoidable happened. The tweet went viral.  Partly because being eligible to join the Tesla raffle required for you to follow Mr. Sun’s Twitter account and to re-tweet said message.

We have a winner!

The lucky winner was to be announced on March 27th, which he was. It was a person who goes by @uzgaroth, from the USA. He, of course, welcomed the news and tried to get ahold of Mr. Sun.

But then, the tweet with @uzgaroth name on it got deleted. Mr. Sun explained that the tweet in question included a video which was just too bulky for Tweeter’s servers to manage correctly. Suspicion ran rampant from that moment on. Mr. Sun is a polarizing figure that some love and some hate, but who leaves nobody indifferent, so the haters took this chance to denounce the whole giveaway thing as a cynical scam.

Or do we?

The Tron Foundation realized that the giveaway’s transparency left something to be desired, so they canceled it. The new owner of a Tesla was suddenly Tesla less. A new draw was announced, this time in a live stream so that no doubts could cast their ugly shadow over the process.

But the man who lost a promised Tesla wasn’t a happy camper at all. He started to complain about being scammed, and he began to get help (and support) from many Tron community members. He created quite a bit of havoc in a community that’s usually known for being friendly and civil.

Both haters and more neutral observers questioned if better transparency should be achieved by undermining Tron’s and Mr. Sun’s hard-earned reputation for always delivering on promises. A lot of discussions went on in Twitter and other places over the web.

Mr. Sun reacted by apologizing to @uzgaroth and offering him a ticker for the next Nitron summit, travel expenses included. While we don’t know if the proposal was accepted, it was useless in terms of quieting things down.

We do have a winner now, seriously…

And then, the day for the “real” draw finally arrived. It happened, and a new winner was announced while the former winner was filling up Twiter with slightly aggressive comments about the giveaway, Tron, Mr. Sun, and all those involved. The new “real) winner was Vietnam’s @LeoHuynhPro.

It could have all ended here, but it didn’t.

Those who were angry, to begin with, got even more upset. Many of them threatened to sell all their TRX tokens and leave the community behind for good. They were asking for the car to be awarded to the original winner, and they were quite vocal and adamant about it. It seemed that the crypto verse’s first popular rebellion (no, we are not counting forks as rebellions) was about to start.

OK, let it be two winners

And then, Mr. Sun showed the world how you could take advantage of a very adverse situation.

He chose to go the Solomonic way by awarding a Tesla to both winners. That way transparency would be ensured, but he would also be honoring his words to the first winner.

That made both winners, happy. The initial winner showed his gratitude and goodwill by deleting the unfavorable posts he had written previously.

But haters always find something to hate. That’s their thing. So even this generous decision by Justin Sun became controversial among some people for reasons we couldn’t possibly understand or explain to you.

https://twitter.com/IrishGirlCrypt1/status/1111706701491814400

Justin Sun has earned a reputation as a shrewd businessman, a charismatic leader, a visionary, but above all, somebody in whose word you can trust, a man who always delivers on every promise he makes.

That kind of prestige is exceedingly hard to earn and, once you have it, the wisest move would always be to keep it shiny. And that is well-worth two Tesla cars, instead of one. Because the trust of what is probably the most active community in the blockchain world, is something that you just can’t buy and, if you lose it, you may not recover it, ever.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron’s Tronscan weekly report boasts more than impressive developments

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Tronscan, one of Tron’s most essential platforms is a very well organized team that publishes a report every week on the project’s progress. Here are the highlights of last week’s report. And as the title says, the developments from last week are more than impressive ones.

The time filter

A time filter was launched. It works on pages that include blocks, transactions, and transfers.

The point in this improvement is to make transaction queries easier for users. The filter applies to the objects mentioned in the last paragraph, and it’s on the “blockchain page,” and it’s also available for transactions and transfers on the contract information page.

The filter supports the contract information page and the address page, and the token information page as well. This development enables users to query for transactions at any time they want using the Main Net with more accuracy than before.

More improvements

Another improvement in the works is a new ledger feature. It will be designed to support transactions at exchanges (TRC20 token transfers, for instance) and it’s expected to be online by next week.

This is a particularly important task for the Tronscan development team, so they’re working on it 24/7. The ledger’s update will facilitate things for the Bancor exchange. TRC20 transfer, token name duplication, token decimals, etc. The development stages are very advanced, and the release is forthcoming. It’s just about to be ready for deployment.

Also, the project is developing graphical resources (charts) for contract and energy consumption. Once these charts are online, users can look up how much energy the Tron‘s main net is burning as a whole, but also the energy requirements of individual smart contracts. That will make the network more lively for sure.

Additionally, three Tron-based digital assets built with TRC20 technology (Dootron or DOO, Wrapped Tron or WTRX, and ICEDIUM or ICD) are now listed at Tronscan.

Zendesk customer service

Zendesk customer service is about to come online. The idea is to provide Tronscan’s users with the best possible customer service. It will be a welcome addition that will enhance the platform’s flexibility and power, both of which are already quite extensive.

So, as you can see, the Tronscan team is keeping itself really busy trying very hard to improve every aspect of the platform’s functionality, reliability, and features. We’re not surprised, this is the rule rather than the exception in most Tron-based projects, but especially in Tronscan, which is an excellent thing because this is a fundamental platform in the Tron experience for every member in the Tron community.

And last but not least: The no. 20 proposal for multi-signatures in the Tron’s main chain was accepted by 20 votes, and it’s already released. You can learn all about it by visiting this link https://tronscan.org/#/proposal/17. We could tell you what it’s all about, but then we would be spoiling your fun.

We salute Tronscan’s continued efforts and commitment to excellence and wish them all success in each and every one of their current and future projects. The kind of commitment that Tronscan shows daily is the reason why the Tron decentralized network is achieving so much success in such a small period.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron (TRX) keeps snowballing

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Tron’s ambition

The Tron project (founded and led by Justin Sun, a former protege of Alibaba’s founder Jack Ma) is highly ambitious. It aims to use blockchain technology to decentralize the whole world wide web, which would change the world.

Imagine that Google, Facebook or Youtube suddenly didn’t have a say on the way things are around the internet anymore. No more monetization policies dictated by private companies and no more privacy breaches so that the company can make an extra buck by selling other private companies data about your preferences, your taste in music, your web searches, political or sexual preferences, etc. Well, that’s how it would be if Tron could have its way.

Decentralize the web

And how do you decentralize the web, I hear you ask? Well, it’s not a simple process for sure. Nobody really knows right now what it would take to achieve that because nobody has even tried before. But it’s clear that it would be a long and complicated process that will require several ingredients working in tandem to succeed.

The first thing you’d need, of course, would be a reliable, fast and cheap blockchain. The good news is that Tron already has that blockchain. And you would need several other technologies and things but, for now, we will stick to the essential ingredient after the blockchain: decentralized applications.

Decentralized applications or dApps

And what is a decentralized application? Well, it’s an application like all the other ones you know already (say, Gmail, for instance, or any other useful website you use frequently).

The difference is not in the functionality nor in the appearance, to notice that something is different with dApps you’d need to look under the hood. That would reveal that there are no central servers (as in Yahoo, Google, Facebook, Microsoft, Amazon or any of the current websites of the world, regardless of their size or influence).

You’d notice that the information that keeps the app running is scattered all over the world in several computers. And that means that no single entity (a webmaster, a developer, a company executive) can affect the way the app works, simply because he can’t change the way that so many computers do business, especially at the same time when some of those computers are in Asia, others in Europe, or anywhere else in the world.

On further good news, Tron also has the decentralized apps already. Not only does it have them but they’re growing incredibly quickly. Last Friday, 274 decentralized applications were running on Tron’s Main Net. Then, over the next four days, 16 new Dapps were deployed, so the grand total was of 290 by last Tuesday.

Do the math. While this is not the best statistical sample in the world, we could still conclude (if rather sloppily) that Tron is growing by four new dApps per day on average. That is just a tremendous speed.

So Tron does have some of the elements it needs to really decentralize the web in place already. Do not be surprised if, in time, it actually achieves it.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

The Weiss report: Ripple’s XRP has better chances for success in 2019

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Weiss Crypto Ratings

Weiss Ratings LLC has been around since 1971, and it’s among the country’s leading independent rating agencies. It covers more than 55,000 banks, credit unions, insurance companies, stocks, ETFs and mutual funds. Unlike the usual raters of the world (Standard & Poor’s, Moody’s and Fitch, etc.), Weiss never takes compensation from any of the entities they rate.

They make money exclusively from selling their products, which are the ratings themselves, to investors, consumers and end users of all sorts. That policy makes it more independent and objective.

The firm got involved with cryptocurrency ratings not too long ago. They aim to offer investors, consumers and professionals proper research on digital assets based on objective data with no bias at all, and the company is becoming influential in this regard rather quickly. This is handy information as it allows cryptonauts to choose the most reliable currencies among the hundreds available in the market today.

Last Tuesday, Weiss Crypto Ratings (the crypto division of Weiss Ratings LLC) released a comprehensive report on the outlook for cryptocurrencies for this year in which it announced the cryptocurrencies most likely to succeed in the following months.

The report

The report is entitled “Dark Shadows with a Bright Future,” and it grades blockchain projects by evaluating their potential for technology and mass adoption. According to the firm’s experts, those are the two most critical ingredients in any prosperous recipe for success in the crypto verse.

The report rates a little more than 120 tokens, which is not that much if you take into account the vast number of coins available in the market today, after 2017’s insane ICO’s proliferation.

The best-rated cryptocurrencies for the long term (graded “A”) are Ripple’s XRP, EOS, and Bitcoin. Then there’s Ethereum with “A-.” The “B+” category includes Stellar Lumen’s XLM, Litecoin, Zcash, NEO, Steem and Cardano’s ADA.

It’s quite remarkable that EOS is ranked above Ethereum, which remains the world’s leading smart contract platform. Weiss explained that because EOS’ user base is proliferating while Ethereum’s platform is plagued with problems that the leadership has been unable to solve so far.

Martin D. Weiss, the company’s founder, gave some details about the rating system.

“Despite lower prices since early 2018, our ratings model gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity, and network security. Equally important is our finding that these improvements are often powered by an evolution in the underlying technology.”

But as it often happens when it comes to these kinds of markets (stock exchanges, forex, bonds, etc.) everything changes when you take risk into account. When risk is considered, no altcoin gets an “A,” and the ranking changes significantly. EOS becomes the market’s leader (B-).

XRP is the world’s top digital asset regarding technology and adoption, according to the report, because it’s a potential competitor with SWIFT, the messaging system that dominates the world’s international transactions among banks. Volatility is the only reason for which XRP lost the overall top spot to EOS.

Binance Coin and Litecoin are not even mentioned in the tech/adoption rankings, but they are the number four and five assets (which is terrible news for Ether because it just pushes it down in the ranking). Once upon a time, Weiss gave Ethereum a B+. Now, it’s a C+, because of risk. So Ethereum has lost a lot of ground lately.

So what’s so cool about EOS anyway?

Weiss allowed its rankings to be considerably influenced by several trends in the cryptocurrency market. Growth in user transactions was the most influential one, as it’s interpreted as a sign of improvement in technology.

EOS has seen its user base, and transactions grow meaningfully over the last twelve months. Let’s not forget that EOS recently launched its very own independent main net, becoming separate from Ethereum thus avoiding Buterin’s network scalability problems. EOS boasts more than 80,000 daily active users in his decentralized applications (Ethereum has 19,000, by contrast) if you go by the data published by State of the Dapps.

Another trend identified by Weiss is the rise of blockchains based on Delegated Proof-of-stake (as opposed to Bitcoin’s proof-of-work) such as EOS, Cardano or Tron. While the firm had nothing to say about Ethereum’s intention to leave PoW behind to adopt DPoS, that change, should it happen, it will probably change things for the platform in the future.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

You won’t believe what will bring about the next Bitcoin (BTC) rally

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Now is the winter of our discontent…

Bitcoin’s winter has been rather long. It’s lasted more than 15 months now, and there’s no end in sight to the current bearish market that has made BTC prices by more than 85%. It’s been bitter, dramatic, controversial, disappointing. It’s also been an opportunity to buy cheap while you can.

Why do so? Because the winter will end at some point in the future. We couldn’t even try to guess when that will happen, but it will. BTC has had about five episodes like the current one, and it’s always come back with a vengeance, and we fully expect for that to happen again. The question is: how could that come about? What will trigger Bitcoin’s next big surge? One of the possible answers could take you by surprise

Loss of value

Bitcoin went as high as USD 17.000,00 USD on December 17th, 2017. And from then on, it’s been steadily going down with some irrelevant fluctuations. Its floor has been at USD 3,150 per token, so it’s at 15% of its highest historical value. Those are obviously disturbing news for traders and investors, even for hobbyists.

As stated before, things will improve sooner or later; we just don’t know when or how exactly. But one very unexpected possibility is that the world’s central banks (which are the banks that print money and direct each country’s monetary policy) could decide to buy Bitcoin en masse so they can diversify their wealth storage options and use BTC as digital gold.

In a recent podcast of AltFi, Crypto for Earthling, the research associate and research head at the prestigious London School of Economics (Garrick Hileman) said,

“The main use for bitcoin today is as digital gold,”

Garrick Hileman added,

“The question is though, who will be buying digital gold? If central banks start to accumulate bitcoin, that could be hugely impactful on bitcoin’s price.”

What’s a central bank, anyway?

The central banks of the world are national institutions (except for Europe, in which there is one single central bank for all the countries in the Eurozone) which set the underlying interest rates their currency will pay, they decide how much new money to put (or withdraw) in circulation.

They have power over insane amounts of means (the wealth), and some of them (such as the Bank of England, the European Central Bank, or the U.S Federal Reserve) are among the world’s most influential financial institutions.

For most central banks, the main priority is to keep inflation at bay at all costs, stimulate job creation, and keep the economy growing slowly but steadily (Japan is the exception in this as the country’s money because it’s probably the only place in the world in which deflation is common, which is terrible for the exportation business which accounts for most of its economy).

Central banks have a lot of money to spend. If only a handful of them really start buying cryptocurrencies (and whatever digital asset they could want, chances are they would have to buy BTC first and then exchange it) the demand and trade volume would increase dramatically. We’ll have to wait and see if this prospect becomes a reality.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.