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The key takeaways from Tron niTRON 2019

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The Tron project recently held its summit, in San Francisco, United States. This was a very anticipated event by Tron community members in particular, but by the cryptosphere at large as well.

Among the conference’s speakers were Kobe Bryant (yes, the NBA star who also happens to be a venture capital investor and expert since he owns a company in the industry) and Justin Sun, the project’s founder and Tron Foundation’s CEO.

So what did we learn from the summit? Four very interesting things. Let’s dig in.

BitTorrent Speed

Tron bought BitTorrent a few months ago. Why? Because it offers a lot of content to its users, and it has around a hundred million monthly users the world over which makes it the world’s largest decentralized network. So BitTorrent is in line with Tron’s ambition to decentralize the web, especially when it comes to content management.

The BitTorrent network will merge into Tron‘s blockchain and main net. That’s what Mr. Sun has called Project Atlas, and the new BitTorrent will have a new client application, which will be called “BitTorrent Speed”.

The news is that BitTorrent speed will be available during Q2. It will become the world’s largest blockchain application almost instantly. And it will use a Tron-based token (TRC10 technology) called BitTorrent Token (BTT) to incentivize users so they seed their files for longer times. Yes, you will be able to earn BTT just by leaving your BitTorrent speed on while you sleep, for instance.

The blockchain version of BitTorrent promises to be way faster than the standard version. It will be very interesting to see how many BitTorrent users will join the crypto verse through Tron.

New office

The Tron Foundation opened a brand new office in Hong Kong.

The Foundation was incorporated in Singapore and it has offices in Beijing as well. But Hong Kong remains an important hub and link between continental China and the rest of the world, so Tron’s new place in the island-city can only help its presence in the world at large.

Application status

Tron has now deployed 200 decentralized apps. That’s a lot of development done in a very short time interval (barely seven months) which means they know how to incentivize developers to create new software or to move it to Tron from other projects like Ethereum.

Of those apps, 142 use the blockchain’s native token (TRX or Tronix). There are more than three thousand developers involved in creating new apps. If you are wondering why only 142, the reason is that many apps have issued their own Tron-based tokens for internal use and for trade at Tron’s decentralized exchanges.

The network’s growth is of 20% weekly, which is exceedingly impressive and, at that rate, it’s going to leave EOS behind very soon.

Token market performance

Tronix went from 11th to 9th in market capitalization in just the last few weeks. It’s quite a remarkable achievement for any blockchain project to keep growing when most of the cryptosphere is shrinking, losing value, and many projects are surviving by their nails.

And that’s not all. According to projections shown at the summit, by year’s end, TRX will become the world’s fourth-largest coin.

Final thoughts

You could think that some of the announcements are a bit overoptimistic. But you should keep in mind that this is a project that so far has delivered in each and every promise it’s made. So don’t be surprised if all those statements become true over the next few months.

Image courtesy of PixaBay.

The BitTorrent Token to go live just in few days now

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The Tron Foundation used its Tweeter account to announce the launch of the BitTorrent Token this January 28th. On that day, at 7 am PST it will be available at Binance Launchpad. In this article, we tell you all you need to know.

What is BTT?

BTT will be the handle for the brand new TRC10 Tron-based token called BitTorrent Token. It’s meant to be a general purpose currency to help transactions in computing resources among BitTorrent clients and/or any other service providers and requesters. It will be the currency of the BitTorrent environment as it becomes a blockchain network.

Current BitTorrent clients will include an optional set of protocol extensions that will allow users to receive and bid for their bandwidth. That will work along with a wallet that supports BTT and a bidding engine.

It won’t be used only to incentivize longer seeding times but also for all kinds of utility cases within the BitTorrent network. General storage, computation power, resources availability such as a distributed VPN or a CDN.

As the project matures and grows, it will be used, in time, for content purchases, for tipping content producers, and for crowdfunding the creation of new projects.

The details

The initial Hard Cap will be of 7,200,000 USD. The total token supply will be of 990,000,000,000 BTT tokens of which 9% will be available for a start. The initial value is set to be 0.00012 USD. Trading pairs in BNB and TRX will also be available, but the price for those will be set only when the token is released.

Of the available BTT on the 28th, 40% will be publicly sold for BNB and the rest in TRX.

The whole supply is scheduled to be released over the next three years.

This seed sale will be of 9% of the total supply, as stated before. The rest of the currency will be allocated in the following way:

  • Private sale, 2%.
  • Partnerships, 4%.
  • Public sale, 6%.
  • BitTorrent Airdrop, 10%
  • Tron Airdrop, 10.1%.
  • Tron Foundation, 20%.
  • The BitTorrent Environment 19.9%
  • The team, 19%.

But there’s a catch. Not everybody is invited to the party.

Users from several countries (most notably from the USA and Mainland China) won’t be allowed to partake from the sale.

Here are the interdicted countries: Afghanistan ,Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, Cote d’Ivoire, Cuba, Democratic Republic of the Congo,  Ethiopia,Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Mainland China, Myanmar (Burma), North Korea,  Republic of Macedonia (FYROM),Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine,  United States of America (USA),Venezuela, Yemen, Zimbabwe.

While all the relevant and available information so far is included in this article, you can find it as well at Binance’s website in this link: https://launchpad.binance.com/details.html?projectId=25

BitTorrent is already decentralized, which is one of the reasons why it’s in line with Tron’s ambitions. And now it will become blockchain-based through the BTT token, and also by a new BitTorrent blockchain client called “BitTorrent Speed” which will be released by next quarter. It will be incredibly interesting to see how Tron’s blockchain changes the lives of a hundred million users scattered all over the world. If you are a BitTorrent user, this is a fascinating time.

Image courtesy of PixaBay.

The dApp wars: Tron is beating Ethereum and EOS (clearly)

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Tron had an amazing year last year. It achieved several milestones during the year (most notably, blockchain independence as well as token independence from Ethereum) and all seems to support the idea that 2019 will be even better for Justin Sun’s project.

In this very young year, Tron already has a lot to boast about. It’s been barely seven months since it launched its new main net, and it already has more than 200 decentralized applications. And that’s not all. Those apps are quickly developing a huge user base and growing at such an amazing rate that they’re leaving Ethereum and EOS (its main competitors when it comes to dApps) far behind.

If you would care to have a look at dappradar.com, which is a web site that monitors activity in decentralized apps you’d notice several interesting things. Let’s talk about them.

Every single dApp in dappradar’s top ten runs either in Tron or EOS. This means that Ethereum, which was the project that arguably invented decentralized apps and smart contracts, is falling behind and losing its capability to compete.

Among those top ten apps, five run on Tron and the rest on EOS. They’re ranked by the number of daily users they serve. Number one is EOS’ PRA CandyBox with 8.8k users daily. So it has a lot more users than any other app on the list, but its transaction volume is exactly zero. No cryptocurrency flows through PRA CandyBox, popular as it is.

Then comes Tron’s Epic Dragons at the second place with 5.5k users daily. While 5.5k is surely not as impressive as 8.8k, there is a huge difference in transaction volume as Epic Dragons transacts almost 10,000 USD daily (or 396.9k TRX). So it has a lot fewer users, but at least it has a bit of money flowing.

Third is EOS’ Knights which has more or less the same number of users and transaction volumes as Epic Dragons.

But let’s skip numbers four and five (you can always check dappradar.com if you’re curious enough) so we can talk about number six which is the real phenomenon.

At number six we find TronBet, which is one of Tron’s gaming and gambling platforms. It has only 3,200 users daily, but that’s not the story. TronBet transacts 24.5 million USD daily. This is a lot of money, and there is no other decentralized application in the cryptoverse that comes even close to that kind of volume. The closest one is FarmEOS (number nine) with 1.3 million.

Tron is quickly dominating the dApp world by being innovative, reliable, and also through good marketing strategies for good products. Tron’s blockchain’s apps may not have the most users (yet), but they do have the most transactions per second and the largest trading volume by a very long shot.

Comparing EOS and Tron apps is quite appropriate too because both projects left Ethereum behind to start their own main nets at roughly the same time, so the odds are even amongst them. And Tron is moving forward more quickly than any other platform in this regard.

We suggest for you to have a look at Tron’s apps. You might just like what you see.

Image courtesy of PixaBay.

Meet Crash365, Tron’s new gambling app

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Tron has managed to become the main blockchain platform for both standard and decentralized apps, beating Ethereum and EOS in the process, and it’s been an independent blockchain for fewer than seven months. In that short time, Justin Sun’s project has managed to deploy more than 200 applications and to create an ample user base of community members that are very committed, enthusiastic and bullish about Tronix (TRX), the project’s token.

How did this happen? By a very wise mixture of great (and effective) marketing and products that are reliable, fast, and, above all, innovative. In short: by delivering great products and publicizing them well.

TronBet, a gambling app running on Tron’s blockchain is already making waves in the crypto sea by transacting as much as 24 million USD on a daily basis. Other remarkable Tron apps include Epic Dragons, Play GOC, Allbet, and Fishing Master. Each and every one of those is on dappradar’s top ten apps by users.

But we’re here to tell you about the newest family member: crash365, which you can find at crash365.io. It’s a gaming/betting standard app with many interesting and innovative features, as is usually the case with Tron’s platforms.

We start at the most basic level: the game offers you mathematically fair odds, which is also the usual thing with Tron’s games. This is nothing short of revolutionary as every traditional gambling site will never pay you fair returns. The house always has an edge. That’s how they make a buck, and there’s just no way around it.

But, as we stated previously, that’s a common trait that all the Tron betting games we’ve seen so far share, so let’s focus on what makes crash365 different.

Crash365

crash 2

The site is managed very generously. You can get rewards just by hanging out at the site’s chat. Rewarded with what I hear you ask? There’s an in-site bot that rains TRX on random chatters, and also when a user wants to. The admins also issue random giveaways frequently. And there is a support team working 24/7 ready to solve all your doubts and make you feel very welcome.

Additionally, you can transfer tokens to any user you want using the site’s Transfer Page (you just fill up a simple form, and voilá!). Just make sure your lucky friend refreshes the page so he or she can see the arriving tokens.

So at Crash365, you can have a bit of fun playing an entertaining game that’s proven to be quite popular among players, and you will also get some passive income in the form of TRX tokens just for being around, and even more, if you pick up a friendly conversation in the site’s chat.

So what are you waiting for? Come and join the world’s fastest-growing blockchain project, have a bit of fun betting at fair odds, make some new friends and, if that is not attractive enough for you, get some free TRX that you can also use in any other of Tron’s applications. Crash365 is waiting to hear from you!

Image courtesy of PixaBay.

BitTorrent token airdrop on the horizon for TRX holders in Trust Wallet

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Justin Sun, Tron’s CEO and founder, used his Tweeter account recently to let the world know that a BitTorrent token (BTT) airdrop is about to happen for TRX holders who are also Trust Wallet users. This was his tweet:

“Good news for #TRONICS, @TrustWalletApp will launch BitTorrent token(#BTT) airdrop for #TRX holders. #TRON $TRX”

Let’s break the announcement down. In doing so we need a couple of questions answered: what is the BitTorrent Token? And what is the Trust Wallet? In this article, we will endeavor to explain to you the meaning in Mr. Sun’s announcement.

Trust Wallet

We start with Trust Wallet. It’s a company based in San Francisco, California. As the name suggests, the main product it offers is a secure cryptocurrency wallet that supports several digital assets (Dash, TomoChain, Bitcoin Cash, Litecoin, Bitcoin, ICON, Callisto, Wanchain, Tron, VeChain, POA Network, GoChain, Ethereum Classic, and Ethereum) but puts a special emphasis in Ethereum derivative coins (all the alternative coins based on Ethereum’s ERC20 and ERC223 token technology). Security and anonymity are also important priorities for the wallet.

The wallet is available for use through the web but also as an app for both Android and iOS. A special feature in this platform is its seamless integration with Binance, which one of the world’s most important trade and exchange platforms. The project includes a decentralized application browser as well.

The relevant bit about this wallet is that it supports Tron. That’s probably the case because Tron used to be an ERC20 token until last June when it went independent and the swapping process for newly minted Tron tokens begun.

The BitTorrent Token

And now for the BitTorrent token. As you may already know, the Tron Foundation bought BitTorrent a few months ago. Shortly thereafter, Tron announced Project Atlas which will merge the BitTorrent Network (the world’s largest decentralized network) into Tron’s blockchain. This will make Tron users out of all of the world’s BitTorrent users.

That’s not all. When Project Atlas comes online, users will be rewarded for seeding their content. How? By means of a new cryptocurrency, which is Tron-based (TRC10 technology) and that users will be able to trade for TRX at Tron’s decentralized exchanges. That token is called BitTorrent Token.

So this is what Mr. Sun’s announcement actually means: if you are using Trust Wallet and you have some TRX tokens stored in there, then you’re going to get a few BitTorrent tokens in an upcoming airdrop. An airdrop is, basically, a free sample of digital currency. BTT in this case. No dates were announced, to be sure

Trust wallet also issued an airdrop announcement which was much more detailed than Mr. Sun’s (and that you can find here: https://trustwallet.com/blog/bittorrent-airdrop-supported-by-trust-wallet), but this post doesn’t offer any details about timing either.

As usual, Tron and Mr. Sun are deploying some very interesting marketing strategies, and this time Trust Wallet is assisting them. And it must be said that Tron’s marketing usually works very well. That’s how TRX went from 11th to 9th by market capitalization over the last few weeks, as the rest of the market keeps shrinking and losing value.

So now you know. Would you like to know how it feels to hold a few BTT? Well, get a Trust Wallet, buy a few Tron (TRX). Then just sit and wait!

Image courtesy of Defense.gov.

TronBet’s Ante: Here’s how to get some, buy or sell

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How would you like to gamble at a casino in which you get some of the house’s profits? Sounds crazy, right? The famous saying is “the house always wins” (except when Doland Trump owns the house, of course). The thing is, you can really become the house now, at least in terms of partaking from the profits. Keep reading if you want to find out how.

Ever since Tron became independent from Ethereum, last May, lots of new decentralized apps have been developed and deployed over Tron’s new Main Net. Many of those apps are for gambling and gaming. Among them, there is TronBet (https://tronbet.io/). This website features a series of games in which you can place a bet and play.

It’s nothing like a traditional gambling website. First of all, the odds you get from the house are 100% mathematically fair, unlike traditional gambling sites in which the house has an edge. Second of all, this is a crypto betting site, specifically, it’s a website in which bets and returns are placed using Tron’s TRX cryptocurrency. And third of all, you can share in the site’s winnings.

The website has a native token, based on Tron’s TRX token. It’s called Ante, and you get it as a reward for playing. That’s not all. Once you’ve played a bit, and received some Ante tokens you can do several things with them. For instance, if you have a Tronlink wallet (which is just a chrome extension for your browser) you can transfer your Ante tokens to your wallet. Or you could freeze them. If you do that, the online casino called TronBet will share its earnings with you, depending on the number of Ante tokens you own.

There’s even more. When the Ante token first appeared you couldn’t sell it or buy it. But now that the GOC decentralized exchange is online for Tron-based tokens, you can go there and sell or buy Ante tokens. The current rate is about 20 TRX for an Ante.

 Nothing short than a revolutionary product

This is revolutionary. It’s unprecedented in gambling because the odds are fair and the house shares its revenue with players. It’s like you own a bit of the casino, without even buying anything. You just play and you get the tokens that enable you to share some of the profits. It’s a very good way to get some passive income. Basically, you’re getting paid in crypto for having some fun.

The Tron project is exceedingly ambitious, for sure. But if every (or even a few) app and smart contract running on Tron’s blockchain can manage to be as innovative as TronBet, then there’s every chance that Tron’s objectives will be met.

And if you’re interested in additional passive income in Tron-based cryptocurrencies, just start up your BitTorrent client. There’s yet another new coin called BitTorrent Token (BTT) that will reward BitTorrent seeders just for keeping their files online for longer times.

Both Ante and BTT can be traded for TRX at Tron’s decentralized exchanges (mainly GOC) and since it’s directly linked to your Tronlink wallet, it’s rather easy to take your resulting TRX to any other exchange you like and hold them, or to trade them for other coins such as Ripple or BTC.

Image courtesy of PixaBay.

ABCC embraces the TRC10 token family by Tron

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Tron is a third generation blockchain project. It means that it doesn’t only include a digital asset (though it does, Tronix or TRX in this case) but it’s also a programmable platform that can deploy decentralized applications, smart contracts, and last but not least, it also empowers Tron community members to issue their own Tron-based cryptocurrencies, just like Ethereum does, only better.

Why better? Because of Tron offers two different technologies for issuing tokens: TRC10 and TRC20. The second one is the more sophisticated option while the first one is a rather basic one.

And while TRX can be bought and traded in many cryptocurrency exchanges, its derived coins can only be traded at Tron’s own decentralized exchanges, which deal only in TRX and its TRC10 and TRC20 cousins. In other words, if you’re interested in this kind of asset you have to deal with the fact that none of the world’s exchange platforms support it. Until now.

ABCC, a cryptocurrency exchange, just announced yesterday that it would be the first trading platform in the world to adopt Tron’s TRC10 tokens. Here’s the tweet they published regarding this:

Justin Sun, Tron’s CEO and founder, reacted to ABCC’s tweet, opportunely as ever, by confirming it with a tweet of his own:

The exchange’s move shows great confidence in the future of Tron-based digital assets in particular, but also in Tron’s future as a blockchain project in general, which is becoming a more common attitude towards Tron within the crypto verse.

This move will save TRC10 token owners a lot of hassle in turning their virtual money into fiat because you will be able to make all the needed operations within a single site, instead of bouncing your funds from wallet to wallet and site to site to perform the one operation you need to carry out in a given site.

There are other reasons for this news to be quite interesting. The BitTorrent Token (BTT), which will be issued by the BitTorrent company as a reward for seeders in its network (which happens to be the world’s decentralized network, incidentally) once that Project Atlas is completed and BitTorrent runs entirely on Tron’s blockchain.

BTT will be a TRC10 token which means that it will be available for trade at ABCC, so there’s every chance that, as long as it’s the only trading platform in the world that supports TRC10 technology, many BitTorrent users will have nowhere else to go to take advantage of the token rewards the network will give them. As things stand, that could be a huge captive user-base as BitTorrent has about a hundred million unique users monthly.

The news is very timely as they came up today, just a few days before Tron’s Summit (called niTron) begins in San Francisco, coming Thursday (tomorrow).

Tron keeps reporting great news consistently, so it’s worth your time and energy to keep an observant eye on it.

Image courtesy of PixaBay.

LoveHearts Token Swap is almost ready

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LoveHearts is a cryptocurrency which has been working to make itself Tron-based. In order to do that, the coin disappeared from all exchanges not too long ago so that the migration towards Tron’s TRC20 technology could be achieved.

As a Tron-based digital asset, it will be available at Tronlink (Tron’s Wallet, which is free and simple to use as it’s a Google Chrome browser extension). The LoveHearts team announced a couple of days ago that the 1:1 swap functionality for LoveHearts TRC10 works perfectly and that everything is ready for Tronlink to support it.

But the swap is not completed yet because TronScan must whitelist LoveHearts TRC20 before it’s visible (thus, tradable) for users and holders.

So the full token migration is still a few days away, but it would seem that everything in the process is running smoothly as the technical teams from both Tron and LoveHearts keep working together to make things happen.

https://twitter.com/LoveHeartsToken/status/1084092995400593408

What LoveHearts is up to, I hear you ask? It’s a very peculiar cryptocurrency that you can send to anybody you want in the world using only a Telegram or a Twitter message. It’s as simple as that. The project’s motto is “Sending LoveHearts shows you really care”. Users of this digital asset call themselves the “Heart Army”, and the idea is to reward good tweets with LoveHearts tokens instead of just clicking the “like” button.

Moreover, the coin has an actual use case. It’s secured a strategic partnership with HummingPay.io (an international remittances service that is also Tron’s partner) that enables members of the Heart Army to send their tokens in the real world and collect them as local fiat currency.

The currency issued ten billion tokens at the beginning. But after several burns, the current supply is of two billion.

LoveHearts came to life last October and it’s been very active supporting a few selected charitable causes. It recently became listed at two exchanges and, now, as the migration is wrapped up, it will be listed at every Tron-based decentralized exchange.

The migration will make LoveHearts an integral part of the Tron ecosystem which means that Heart Army members will be able to take their tokens, and trade them into TRX (or any of the other TRC10 or TRC20 tokens at Tron’s exchanges) and use them in any Tron decentralized application they could fancy. Or they can keep them and use them at the LoveHearts lounge, which will be an online shop (probably in Telegram) in which those tokens will buy you some goods and services.

More projects keep choosing Tron as their platform. Decentralized apps of all kinds, smart contracts keep arriving in this blockchain, and many of them also issue their own TRC10 or TRC20 tokens to support their project. This, in turn, makes Tron interesting for even more people and it also creates new trading volume for TRX, which also drives demand up. And that’s how any coin’s price actually goes up, besides from sheer speculative pressure which is so unreliable.

Image courtesy of PixaBay.

Tron (TRX)’s market cap is up by 40% in 2019 already

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The cryptocurrency market has had a terrible time since December 2017. It hit the roof on December 17th, and it’s been going down like a led balloon ever since then. The market’s value has gone down by 80%, more or less in 13 months and it’s been an unmitigated disaster for almost every blockchain project in the world.

But in the midst of the chaos that the bears have caused in crypto, two projects have managed to gain ground: Tron and Ripple. In this article, we’ll focus on Tron’s recent growth in terms of the token’s value and market capitalization.

As we write this, Tron is trading at $0.025420 which is not exactly impressive compared to Bitcoin, for instance, but only a month ago, it was at half the price. Also, although it’s trading in green numbers but can turn into the red at any time, which is not the best thing either, but many days in crypto are just like that.

Let’s focus on the parameters that really matter.

A few weeks ago, Tron was ranked 11th by market capitalization. But it’s been growing in relative value so, about a month ago, it reached the 10th position, and only a few days ago, it went to the 9th place which is the spot it currently holds.

This is quite meaningful because it means that Tronix’s market capitalization has grown by 40% since the new year began. That’s only 15 days now. And things are just getting started.

Tron is barely more than a year old, and the platform’s catalog of decentralized apps is still tiny when compared to Ethereum or EOS. And yet, with that limited number of apps and use cases, it’s managed to keep growing at a rate that no other cryptocurrency can currently boast.

So what does the future hold for TRX’s price? Good news, mainly.

New dApps are being developed, and the Tron Foundation is investing a lot of money in incentivizing the community’s developers to build and deploy all kinds of new games and apps for the platform.

Some essential projects are also migrating from Ethereum and EOS to Tron because the networks are slow, expensive and troublesome. Every new app is a new use case for the token. Every new use case increases demand and trade volume which, in turn, will keep driving the price up.

And that’s nothing compared to what Project Atlas will do. Project Atlas will merge the BitTorrent network (the largest decentralized network in the world) with Tron’s blockchain, and it will reward seeding users with a Tron-based token called BitTorrent Token. We are talking about a hundred million users, located everywhere around the planet, that will become members of the Tron community (maybe unknowingly), and that will create yet another use case for the Tron-based token economy.

Tron is proliferating while most other blockchain projects are shrinking. And, as things stand, it will keep growing, and it will be much faster sooner rather than later.

So the current growth rate for Tron is nothing to be surprised. The project is useful; the community is committed, it keeps finding new use cases, more Tron-based tokens, apps and smart contracts are being issued all the time. Tron can only keep growing.

Image courtesy of PixaBay.

TRON blockchain suits charity purposes best, here are the reasons why

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Philanthropy in layman’s terms is being human, which leads to caring and giving to people in need. This is one of the behaviors which differentiate us from other living organisms on this planet. The urge for giving grows as we evolve and move up the maslow’s hierarchy. With the passage of time more and more people are getting involved globally in this noble cause of giving, leading to the creation of an organized sector called – CHARITY.

Approximately 1.4 billion population is contributing to charities leading to an approx fund of $1.2 trillion being raised annually globally. As per the latest statistics, Indonesia, Australia, NewZealand, USA, Ireland are the top 5 countries contributing to the philanthropy domain. The major segments in which charity is raised currently are Education, Childcare, Women protection, Healthcare, and Environment.

As with any industry Charity domain too now needs to evolve to cater to future requirements and to set up systems which help the humankind at large. Challenges which this domain faces currently are trust, transparency, reach and awareness, the speed of execution, processing and fundraising cost to name a few.

The Blockchain solution:

Blockchain technology can help legit charities overcome these problems thus contributing to enhancing the global happiness index.

Trust, transparency, and accountability: The biggest problem in the charity domain is trust as the individuals/corporations who are donating sometimes are not sure if their contribution is reaching the end user. Blockchain using its distributed ledger process ensures 100% transparency as the accounts are in public view and anyone can crosscheck the flow of funds to the last mile.

Reach and awareness: Blockchain because of its borderless feature connects the global population and allows anyone sitting even at home to connect seamlessly to the global audience thus allowing a global platform to reach out to anyone they intend to help.

The speed of execution: This is another strong value proposition Blockchain provides to Charities. In traditional mode of fundraising the banking channels consume a lot of time and fee as well, sometimes this even extends to days for international transfers. Blockchain reduces this timeframe from days to seconds and that too at a lower fee making it a win-win situation for both the donor as well as the charity.

Cost of fundraising: As per the latest statistics only approx 67% of the funds raised reaches the intended use; the rest is lost regarding fees, administration fundraising cost, etc. Blockchain can bring down this 33% substantially thus ensuring the better utility of the funds raised.

Why TRON?

TRON protocol is an emerging Blockchain solution which aims to create decentralized internet. Charities choosing to use the TRON platform would end up gaining the following benefits along with already mentioned benefits of Blockchain as mentioned in the previous segment.

Ease of Use: Creating an account on TRON platform is super easy and takes less than a minute. Also, a lot of Dapps are launching their mobile wallets thus making it very convenient to use. Charities can create accounts in less than a minute on www.troncan.org and get started, the same is applicable for any user as well who wishes to donate.

Leveraging Technology: Developers in the TRON system are continuously working to provide user-friendly solutions. They have developed bots which helps in tipping to any charity possible even on social media like telegram, twitter. Seedit, Robominer are few of the prominent bots already in use.

High Liquidity: TRON is available in 160+ trading pairs across multiple exchanges as per the latest CMC data making it practically available to everyone.

Speed: The transaction is lightning fast which means it takes just a few seconds to transfer funds across the globe. Mobile, website, social media are few platforms which can be used to complete any transaction.

Scalability: TRON platform has the capacity to process 748 TPS (transactions per second) while the current usage is approx 20-25 which gives enough space to accommodate future increase in volume and still maintain the current performance level.

Global Community: People eventually are the heart of any charity initiative, TRON with its rapidly growing community offers a huge audience spread across the globe. As per tronscan date, there are already 1.34 million accounts live with TRON and its increasing exponentially (1st million took approx six months, next 0.34 million has happened in less than a month).

Ease of Creation: TRON protocol also provides an easy to use system for any project to create a TOKEN on its platform. The cost for the same is also very nominal. This low entry barrier allows projects which have a great idea but limited resources to also get started and subsequently work hard to convert their idea into a working proposition.

There are already few charity projects which have understood this potential and have launched on TRON platform. KsumNole, Alivio, TreeOfLife are few for the noticeable projects which are already live on TRON eco-system. KsumNole among these has garnered the highest support and interest with some unique concepts to filter and identify real supporters and philanthropists.

Future

Considering the above parameters, the future looks very promising for Blockchain in Charity domain. The current penetration of Blockchain in the complete Charity eco-system is less than 1% thus there is a huge upsurge in adoption growth expected. The Millennial and GenXers are gradually increasing their contribution in charity, and they also happen to be the flag bearer of enhancing Blockchain usage.

What needs to be done now is to work hard in creating awareness and build systems which are legit, scalable and solves real-life problems. Honesty and Transparency are going to be the critical ingredient for long term success.

As the saying goes ‘The world calls for and expects from us, the simplicity of life, the spirit of prayer, charity towards all, especially towards the lowly and the poor, obedience and humility, detachment, and self-sacrifice. Without this mark of holiness, our word will have difficulty in touching the heart of modern man.~ Pope Paul IV’ all we need is a good heart to make a difference.

Sources:

https://www.cafonline.org/docs/default-source/about-us-publications/caf_wgi2018_report_webnopw_2379a_261018.pdf
https://www.pressconnects.com/story/news/local/new-york/2017/11/29/how-much-your-donations-actually-go-charity/108107792/
https://www.501commons.org/services/learning-programs/Philanthropy.PNG/image

Image courtesy of PixaBay.