TronWeekly

Crypto World News

You are here: Home / Archives for News

News

The Best TRON Wallets to Keep Your TRX Tokens Safe

by

TRON is one of the best cryptocurrencies in the crypto-space today. It is a decentralized blockchain platform that has lots of Dapps deployed on it. The Sun-led blockchain is very popular as its token is widely used around the world today.

TRON was initially launched on Ethereum’s blockchain network; however, the TRON network took a step forward by migrating from ERC-20 into creating its own MainNet in June last year. Due to the fact that TRON has relocated to its very own MainNet, it’s necessary to have TRX wallets that are highly compatible with the present MainNet.

Where to keep your TRX safe is a major concern today, and in this article, we will take a detailed look at the best TRON wallets to save your TRX tokens. Some of these wallets are PC, mobile, or web-based, and you will know how to use them very securely.

The Best Tron Wallets

  • TRON Android Wallet

The TRON Foundation itself has promoted the TRON Android Wallet. This is because it has a multi-functional setup, with an attractive user interface along with a TRON cold wallet structure. These features make it easy for users to store their TRX tokens securely.

However, this wallet is specially made for Android phone users only. It is encrypted by a passkey which can only be retrieved through a 24-word recovery key. This wallet is trendy because of its beautiful features.

  • Atomic Wallet (Multi-Wallet)

Atomic is a popular and very secure non-custodial Tron multi-wallet that enables managing over 500 other crypto coins and tokens in the app. Users can buy, exchange, and manage their crypto holdings in a well-protected and smooth interface.

Your private keys get generated from mnemonic. When you end up going with Atomic wallet, your funds’ security comes down to your very own hands entirely. Atomic is available for macOS, Windows, Linux, iOS, and Android.

  • TRON Chrome Extension Wallet (Browser Extension)

One of the best wallets this year is the TRON Chrome Extension Wallet. This wallet is user-friendly, and it is the best TRON wallet for Chrome users. This wallet is web-based, and you can store and receive your TRX very easily without being hacked as transactions safely.

Your TRX tokens are highly secured, and as per reviews of TRON wallets, this secure option has been highly recommended by many experts for TRON holders.

  • TRON IOS Wallet

This is one of the added wallets on TRON network. It is another mobile-based wallet as the Android wallet but is specifically built for IOS phones. The Tron Foundation backs this mobile wallet (through the loan).

Additionally, this wallet is an open-source wallet that has the ability to secure private keys. It has a beautiful and easy to use interface. It is important to know that this TRON wallet is among the most used wallets on TRON network.

  • Ledger Nano S (Hardware Wallet)

Hardware wallets like Ledger Nano S have strong encryption and are really hard to hack into. The Ledger Nano S is one of the top crypto hardware wallets in the cryptocurrency-space today.

It is portable, and it has a USB port you can use to connect to your PC. You can use this hardware wallet to store not only TRX tokens but more than 500 cryptocurrencies.

Since it is a hardware wallet, you need to install the Tronscan desktop wallet from Github, to store your TRX tokens.

  • Exodus (Desktop Wallet)

The Exodus is also one of the most secured wallets today. It is notably known for its beautiful interface. You can store different cryptocurrencies – not only TRX alone. Also, you can exchange your tokens using the built-in ShapeShift integration.

  • TRON Paper Wallet

The TRON Paper Wallet is also considered to be one of the safest methods to save your TRX tokens – together with the TRON Chrome Extension Wallet, due to the fact that token transactions on these wallets are only achieved offline.

With a paper wallet, your public and private keys are printed on paper, making your passwords offline. When you follow the instructions for using a Paper Wallet, it will be next to impossible for your tokens to be stolen.

  • Guarda Wallet

Guarda wallet was created to provide users with a better experience in the cryptocurrency industry. The wallet supports over 45 chains and over 10,000 tokens. The wallet has reiterated its focus on a multi-platform approach and has web, desktop, Google Chrome and mobile devices versions available.

Guarda also offers the multi-signature facility, staking, and support for privacy-oriented coins such as Monero and ZCash.Using Guarda, people will have the first-hand experience with an in-built exchange service as well as a lowered exchange amount for some cryptocurrencies trading pairs. Guarda, which already supports Tron based tokens, also allows users to buy Tron coins using an inbuilt purchase service.

Final Words

So you have it! These secure options retain the place of the “Top TRON Wallets” centered on TRON news, user-friendliness, security concerns, and compatibility. As you can see, we have placed different options: from mobile wallets to a paper wallet. For people who want to get the most secure and easy choice, you can use either the Tron Paper Wallet or the TRON Chrome Extension Wallet.

And of course, it is vital for individuals to choose only from the wallets mentioned above as they have been verified by the TRON Foundation.

However, no matter the type of wallet you have decided to go for, it is critical to keep up with solid practices like safeguarding your passwords and private keys at all times.

Editor’s Note: The article was updated on September 12, 2019, to include Atomic wallet on readers’ requests.

Image courtesy  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 BitTorrent token, BTT use cases: More than just a reward

by

The BitTorrent network has been as controversial and misunderstood as it’s been successful. Now it’s going to become a blockchain network (based on Tron) and that’s just making things more controversial, but it could also make it even more successful.

At the center of this shift from traditional P2P decentralization to the blockchain, decentralization is a new cryptocurrency called BTT and it’s based on Tron’s token technology.

BitTorrent

But we start at the beginning.

BitTorrent brought forward the idea of decentralization years before crypto ever existed. In 2001, to be precise. It began and still is, a 100% decentralized network for sharing files. At the time, there were several of those (eMule, eDonkey, Napster, and several others) but BitTorrent ended up being the sole survivor.

It’s still around and, in some regions of the world, it accounts for 70% of the internet traffic. It’s the world’s largest decentralized network even today, with more than a hundred million total users scattered all over the planet every month.

Tron

Tron is much more recent, it’s not even two years old yet. It’s a blockchain project founded by Justin Sun, that aims to decentralize the web as a whole using cryptographic technology (Tron’s own technology, preferably).

BitTorrent is already decentralized (if not by means of blockchains) and it hosts gargantuan amounts of content. Both projects are aligned in many ways so it wasn’t much of a surprise when the Tron Foundation bought BitTorrent a few months ago.

After that, Tron announced that it will merge Bitcoin into Tron through something called “Project Atlas”. That will see BitTorrent become a blockchain network, and, as every blockchain, it will include a token (BTT).

BTT

So what would be the point in yet another new cryptocurrency? It actually makes sense, keep on reading.

The first (and most obvious) use case for BTT will be to enhance the way in which BitTorrent works. It will incentivize users to keep sharing their content by longer periods of time by allowing them to earn some passive income.

So, if you seed your files for longer, the network will reward you with some digital money. But that just would be the beginning.

Imagine that, as BitTorrent becomes a blockchain, then you can deploy smart contracts, decentralized applications, and websites in a Tron’s subsidiary network. In that scenario, BTT would allow you to participate in those apps and contracts and even develop new ones if that’s your cup of tea.

But there’s another scenario that’s even more interesting. You could actually develop and deploy websites that would run on BitTorrent. You would have no servers, but the sites would be hosted by the decentralized network and not by Microsoft, Google, Youtube, Facebook, or any other of the usual suspects.

Then the new token would allow you to monetize your content directly from users, and for users to pay for the things they really want.

In that context, Tron’s vision of a decentralized web could get started in the next few months instead of the next few years.

The point is: while the first use case can be obvious, there are plenty more that will only become apparent as the network develops. And they could change the way we think about the internet.

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.

Digital asset trading platform, Digifinex, set to list BitTorrent token BTT

by

On February 22, tomorrow, the Singaporean digital asset trading platform Digifinex will be listing BTT token which is based on TRON blockchain. TRON’s CEO Justin Sun announced the important news on his official Twitter page. Sun also made it known through his tweet that the trading pairs: BTT/BTC and BTT/USDT will be made available at 12:00 on Feb 22, 2019.

TRON CEO tweeted:

Earlier, the exchange noted that it has taken screenshots of all TRX holders with a block height of 6600000 and also promised to hold an airdrop of BTT tokens among TRX holders within five working days. Digifinex has advised TRX holders to take note of their increased assets within this period.

It is important to know that in the CoinMarketCap.com ranking, Digifinex holds the third place in terms of trading volume which is 574,629,499 USD at the time of writing.

Lately, TRON’s BTT token has been getting lots of attention across many digital exchange platforms in the world today. Last month, notable crypto exchange platforms Bitfinex and Binance listed BTT tokens, and let’s not forget that BTT token works on TRON’s network. Its listing on the aforesaid platforms followed lots of airdrops for individuals who own TRX tokens.

The Singaporean exchange platform recently introduced other tokens on its platform such as ONG (Ontology Gas) and Unification (UND), in which it offered 5000 ONG worth of rewards for ONG investors during its airdrop.

At the time of writing, BTT token is green and with a market value of $0.000980 and a market capitalization of $87.80 according to coincodex.com. Over the past few weeks, its value surged by more than 4%.

More information on TRON’s BTT token

TRON’s blockchain powers BTT tokens which also operates on TRC-10 protocol. It was also built to work easily with the BitTorrent network which has more than 100 million users worldwide.

Subsequently, the primary goal of BitTorrent token is to simplify and efficiently improve the sharing of files and other vital information among BitTorrent users. The BitTorrent network itself has users (peers) that help in the sharing of critical documents.

TRON is planning to have an airdrop which follows a series of monthly airdrops that will run till February 2025. The longest airdrop in the history of crypto markets.

It is necessary also to note that, at the moment, TRON has 990 billion BitTorrent tokens and has labeled 10.1% for airdrops to TRX holders for the next six years or so. According to TRON, this airdrop will grow as time goes on.

Additionally, TRON is planning to have a new facet tagged “BitTorrent Speed” to increase the use of BitTorrent among its users. That has to do with BitTorrent users accessing files at a breakneck rate when they make BTT payments among themselves.

It implies that BitTorrent users who share files (seeds) can earn more BTT Tokens for making data available for peers. This project aims to reward financial incentives to seeds on the BitTorrent network.

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 Foundation discloses GRID, BTT and TRX crypto card, pre-order date

by

TRON Foundation has finally released vital info about its newly-formed cryptocurrency card: GRID. TRON stated the pre-order details and the cost involved during the announcement.

The Sun-led Foundation has confirmed that the pre-order date for GRID or BitTorrent crypto-card will be on February 19, 2019.

Tron’s GRID Crypto-card

According to TRON, the GRID crypto-card will be a prepaid card that could be pre-loaded with TRX tokens in 3 different amounts: 15,000, 50,000, or 100,000. Additionally, BitTorrent tokens and monthly airdrops will be awarded to card owners in varying amounts.

It’s worth noting that if a card owner has 15,000 TRX per card, then he/she will be given 1,500 BTT token plus a monthly airdrop of 0.1 per TRX; for 50,000 TRX per card, 6,000 BTT token plus a monthly airdrop of 0.12 per TRX will be awarded; 100,000 TRX card, 13,000 BTT token plus a monthly airdrop of 0.13 per TRX will be given.

The GRID cryptocurrency card was specifically designed for a single-use, which implies that the card cannot be funded with TRX tokens after it has been purchased.

However, the amount of the monthly airdrops that will be awarded will solely depend on the amount of TRXs the owner spent and the BitTorrent token received without the card owner boosting the amount of the token.

Nevertheless, if the card owner decides not to spend any fund or hasn’t spent any money with their GRID card, that will not limit their entitlement to rewards; in fact, airdrops will continue to increase and be enjoyed as a cold storage wallet to invest as an alternative to spending the BitTorrent and TRX tokens.

Other Crypto-cards on TRON Network

At the moment, TRON has two crypto-cards – in which GRID is one of them. The other one is TronCard. The TronCard was the first crypto-card to be produced on Tron Network, and it was created to be a wallet to hold TRX and TRC10 tokens.

It is necessary to note that TronCard customers can access their passcode to integrate their physical card within a virtual wallet when they scan the QR code provided by TRON network.

TRC10 and TRX tokens are tokenized digital assets built on Tron Network; TronCard acts as a secured wallet to save these tokens.

The network behind TronCard was Poppy (a point scale system with integrated Tron Payment processing), and it has created an update for the Clover POS systems.

Nevertheless, GRID and TronCard can now be used in different places that make use of Clover POS systems, due to the update made by Poppy. Since these crypto-cards can only be used in places that make use of the Clover POS systems, they may seem limited, but it does create the platform for increased adoption of cryptocurrencies in the future.

A Great Step towards an Increased Adoption of Cryptocurrencies

The creation of the GRID cryptocurrency card has been seen as a good development in the crypto space, even though SEC might contemplate it on whether it is security or not.

In the meantime, TronCard and GRID can fire-up the mass adoption of cryptocurrencies to surge shortly.

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.

Here’s what the BitTorrent token (BTT) hitting HitBTC means

by

HitBTC

HitBTC is one of the oldest and most advanced cryptocurrency exchanges in the world. Founded in 2013, it operates out of Hong-Kong (owned by Hit Solutions Limited) and Chile. It used to have a Japanese office as well, but that branch was shut down because of new local regulations. It’s expected to open again in the near future.

HitBTC offers 491 different cryptocurrencies in more than 800 trading pairs, and its longevity has made it one of the most important platforms for crypto in the world. Besides its longevity (2013 is ancient history when it comes to cryptocurrencies), the platform is available in many countries all over the planet and it’s made a name for itself regarding reliability and security.

It’s a 100% crypto-crypto exchange, which means that you can’t use any fiat money to buy tokens or link a bank account or a debit card of any kind. But this is how most of the biggest cryptocurrency exchanges in the world work, so that’s not much of a surprise. The exchanges that allow trading in fiat currencies are still not more than a handful.

BitTorrent’s happy Valentine at HitBTC

The reason for us to introduce HitBTC to you in this article is quite simple. As of last Valentine’s day (Feb 14th), the company is listing the BitTorrent Token (BTT) in several trading pairs, especially against Bitcoin, Ethereum and USDT.

This is very good news for the Tron network and its subsidiary, BitTorrent. It means that the recently launched cryptocurrency known as BTT is quickly gaining acceptance in many markets all over the world and will be readily available for trade in some of the most influential exchanges.

As you probably know already, nearly every blockchain network in the world includes (or needs) a cryptocurrency to keep the network going and to incentivize the creation of new blocks for the chain.

BitTorrent is not a blockchain network just yet, but it’s been the world’s largest decentralized network for years. Not too many months ago, Tron bought it and then announced that it would turn it into a blockchain network. Part of Tron’s blockchain network, as a matter of fact, and as such the BitTorrent network would issue a new Tron-based digital asset called BTT.

Project Atlas’ new coin

The merging of Tron and BitTorrent (called “Project Atlas”) has not been completed yet, and both networks remain independent. But it’s expected to happen over the next few months. That will make Tron the world’s largest blockchain by far, even surpassing BitCoin at least regarding users, if maybe not in value.

BTT is not supposed to become a retail currency as many other altcoins, but the means to incentivize users in the BitTorrent network to keep the network’s decentralization going on by sharing their files, bandwidth, and resources for longer periods of time in exchange for passive income in the form of a Tron-compatible cryptocurrency.

But that’s just the beginning. BitTorrent will become a blockchain of the third generation in the full sense of the expression so, soon, it will be able to run decentralized applications and smart contracts, just as Tron does. As that new stage comes to fruition, the use cases for BTT will multiply quickly.

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.

Ripple scores another hit in the Middle East

by

Another week, another partner

Not a week goes by without Ripple securing a new strategic partnership for its crypto-based international payments platform and, every week, we report it to you. The week before the last one was particularly good for Ripple (with the Saudi Monetary authority announcing its support for mass adoption in both Saudi Arabia and the Emirates).

Last week hasn’t been any different, as the news got in. This time it’s the Al Ahli Bank of Kuwait who announced a partnership with Ripple that will enable them to offer instantly settled cross-border payments.

ABK declared itself to be one of the few Kuwaiti financial institutions that will use Ripple’s technology to bring transaction times from days to minutes, fees from dollars to cents. That’s what’s at the heart of this partnership.

The announcement was published last Thursday. It’s the first step in ABK’s adoption of Ripple’s tech that will allow the bank to give its customers immediate confirmations and a secure procedure.

So now, immigrant workers in Kuwait will be able to use ABK’s services to send remittances to family, friends and loved ones back in their home countries much more quickly and much more cheaply.

ABK and the Ripple Net

It brings ABK into the RippleNet (Ripple’s partner network) which is a blockchain-based network, decentralized, global, centered around Ripple and its banking partners. The network aims to enable customers from different banks in many countries around the planet to transfer money across borders quickly, cheaply and safely.

Somnath Menon, ABK’s group chief operating officer, has this to say:

“This partnership with Ripple is aligned with our unwavering philosophy of reimagining a simpler bank. We have significant interests in cross border remittances and plan to harness the power of Blockchain technology for making global payments faster and more convenient for our customers”

He continued,

“As smart technologies continue to rapidly transform the financial sector, we remain committed to enhancing our offerings to our customers, and staying ahead of the innovation curve.”

Mr. Navin Gupta, managing director for South Asia and Meta at Ripple also had something to say  “We look forward to supporting ABK’s ongoing efforts to enhance its digital banking services, by providing our innovative blockchain solutions for speedy cross-border payments.”

Ripple and the Islamic financial systems

Ripple keeps making headway into every continent in the world. But unlike many other blockchain technologies and cryptocurrencies, Ripple is finding acceptance in the Islamic world which is particularly important because the Islamic financial services and traditions are not always lined up with those we are used to in the Western world.

So Ripple’s tech is turning into something of an ambassador for blockchain technology in the Middle East and other Islamic countries of the world.

And this is not just corporate good news. It’s real-world use cases that can turn Ripple’s XRP (or any other cryptocurrency) into a useful form of money that can achieve mass adoption.

And it’s mass adoption that can change the market’s game because that’s how a coin’s value becomes based in authentic demand, instead of relying on speculative pressure, which is still the main force behind most cryptocurrencies (if not all).

So good news for Ripple is good for the company indeed, but also for crypto at large.

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.

PLAY GOC arrives at TronWalletMe

by

The platform

PLAY_GOC (https://play.goc.network) is one of the 200 decentralized applications running on Tron’s network and blockchain.  It’s a gaming/betting app that includes many classic casino games such as Dice, BlackJack, Roulette, Baccarat, a virtual slot machine, and many others under development.

It’s been very successful. It’s already the world’s third-largest dApp, according to dappradar.com (a website that monitors the activity in the cryptoverse’s blockchain applications) serving more than 6.5k users every day. Crazy Dogs Live is the only largest app in Tron, and not by much (6.6k users daily).

The Tokens

It’s not just a casino, in the traditional sense of the world. It’s decentralized, unlike any traditional gaming platform. And it also a Tron-based cryptocurrency called RWD which you mine in the website just by playing the available games and another one called PLAY.

The main value behind the PLAY GOC developing team is that using blockchain technology should be fun and rewarding for users and that a gaming site should offer a variety of activities besides just playing and betting digital assets. That’s why the platform includes a trading platform as well (Play Market) in which you can trade a variety of Tron-based tokens if you so wish.

PLAY is the token that fuels the platform for the main part. It’s designed strategically to enhance the PLAY GOC environment and you can exchange it for TRX or other Tron-based tokens.

RWD is an incentive for you to keep playing. You play using a variety of Tron-based tokens in PLAY GOC and as you place your bets, the system is mining RWD tokens on your behalf. Owning RWD tokens also allows you to join in some of the site’s special activities.

You can buy either token in some of Tron’s decentralized exchanges, like the one included in Tronscan’s platform. The tokens are supported by the TronLink Wallet, which is very popular because it’s very easy to install and use. It’s a Google Chrome extension, so it takes less than two minutes to install and set up a personal Tron Wallet that supports almost all the currently available TRC10 and TRC20 tokens, including, of course, TRX.

Support from TronWalletMe mobile app

And now, TronWalletMe, which is a secure p2p crypto wallet and exchange platform for Tron-based tokens are adopting PLAY GOC’s in its wallet. The wallet is a mobile app you can get for either your Android or Apple phone and it’s not your typical run-of-the-mill wallet as it includes a decentralized exchange for you to trade in Tron-based currencies.

https://twitter.com/PLAY_GOC/status/1096489097739157504

This is a nod to PLAY_GOC’s achievements as a decentralized application by the Tron community which is using it, playing in it, and enjoying it. While there wasn’t any doubt in any Tron community member’s mind about how important the gambling platform is becoming, having its tokens supported by more and more of the other apps in Tron (TronWalletMe in this case), create more awareness and credibility for PLAY GOC.

And it deserves it. PLAY GOC maybe looks like a simple (but nice) gaming website. It’s a lot more than that. It’s one of the manifold ways in which Tron will achieve total web decentralization sooner or later.

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 Now Powers More Than 200 Decentralized Applications

by

Third generation

If you read our posts regularly, you probably already know that Tron, as a third-generation blockchain is not all about a coin (Tronix or TRX in these case) but about a programmable platform that can develop and deploy smart contracts and decentralized apps which aim to decentralize the world wide web as soon as possible.

Yes, the coin is valuable, but it’s not like first-generation blockchains in which there’s nothing else. In Tron’s case, the coin is supposed to facilitate the network’s other aims.

We’re happy to report that Tron has been very successful very quickly in making progress as a decentralized network.

No, the web is not fully decentralized yet, but there are already 200 decentralized apps running on Tron’s network and the top 24 alone boast 65,000 individual users daily. That is quite a lot if you take into account that the other two top dApp platforms (EOS and Ethereum) are nowhere near in terms of daily users or token flow.

Tron at dappradar.com

So you’re not impressed yet? Well, have a look at dappradar.com. This is a website which monitors activities at the world’s main blockchain platforms. According to it, three out of the world’s four most popular dApps are running on Tron (Crazy Dogs Live, PLAY GOC, and Epic Dragons).

This is amazing progress, and it’s happened very quickly. Tron has been around for fewer than two years, and it became an independent network only last May. So all these achievements have happened in fewer than 12 months. That’s been enough for Tron to become more relevant as a decentralized network than Ethereum, which was the rule for years before Tron became independent.

And the best is still to come. The Tron Foundation bought BitTorrent a few months ago, and it’s working on merging it into Tron’s blockchain.

BitTorrent, with more than a hundred million users scattered all over the planet, has been the world’s largest decentralized network for a very long time, and its file-sharing client is about to become another decentralized application at Tron.

Can you imagine that? The network will grow by millions in a single day, just as soon as both networks become united.

If you haven’t tried out any of Tron’s apps, we encourage you to buy a few TRX tokens and give them a go. Some of them are quite simple, but they’re all quite entertaining. And it will give you an opportunity to chat with other people interested in blockchain technology and Tron as well.

Green numbers

As we write this, Tron’s TRX is the world’s eight cryptocurrency by market capitalization (according to conmarketcap.com), and it’s trading at USD 0.024136 and in green numbers. So the token is still quite cheap, but we seriously doubt it will remain that way for long.

Every active dApp in the network is a use case, and the more use cases a coin has, the better chances it has to become demanded and, hence, valuable.  The network is strong, it’s useful, and it’s growing at high speed. And so will the token’s value.

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.

More good news for Ripple, this time it’s from Malaysia

by

Ethereum vs. Ripple

The cryptocurrency market is an incredibly strange thing. A few days ago, a traffic analysis report found (and published) that Ethereum’s decentralized apps are basically abandoned by users and that most of them are empty.

Ripple, on the other hand, has been reporting great news for months. They have a really positive announcement to show to the cryptoverse at least once a week, and that’s on quiet weeks.

So what happened next? Ethereum’s price went up, it recovered the market’s second spot by market capitalization (which was Ripple’s for several weeks already) and Ripple’s XRP price went down. You see, this is the kind of thing that makes ordinary people be wary of the cryptoverse.

But it remains a close thing. We’re talking about 13.2 vs 12.3 billion USD in capitalization, so the difference is hardly meaningful (Bitcoin is almost at 64 Billion) so the table could turn with just a small fluctuation in either digital asset and that kind of thing is what happens almost every day in crypto.

An interesting question at this point would be: if news for Ethereum keep being negative (don’t forget that the network update had to be postponed also) and good for Ripple, will that keep giving Ethereum an advantage?

More good Ripple news

We will find that out soon enough because good news keeps coming Ripple’s way. This time, from Malaysia. And they’re not just good, they’re better than usual.

A few days ago, Malaysia’s CIMB bank launched a remittance service called SpeedSend. And it runs on Ripple’s technology. Transfers will be available to the USA, the UK, Australia, and Hong Kong and the service will be available in both CIMB Banks and CIMB Islamic Banks.

This is important for several reasons. The bank is announcing very explicitly that it’s the first bank in Malaysia to introduce Ripple’s technology as a commercial service. It’s in the ads for the service. That alone creates a lot more of awareness about the company, the project, and the technology.

Santander, for instance, already has a mobile app in Europe which allows for real-time money transfers that are powered by Ripple but the bank doesn’t make much of a sing and dance about it.

Besides awareness, there’s the fact that this is a commercial product deployed at the production stage. Ripple has more than 200 clients (banks, remittances) scattered all over the planet but most of them are using xCurrent or xRapid (Ripple’s platforms) at the testing stage, not on production, which mean they could still get cold feet. So for Ripple, this move is not just about getting attention, but credibility.

And last but not least: the bank is deploying the service in both its standard and Islamic branches. This can only be possible if authorities and specialists in Islamic financial services (yes, they do exist, they’re quite different, and they don’t operate by Western standards) have found Ripple to be an appropriate service for Islamic clients.

That opens the doors for Ripple in the whole of the Islamic world, and it’s not clear that most of the Islamic financial establishment will accept any other digital asset in the future.

Ripple’s future

So Ripple keeps moving forward and, at the same time, XRP’s value keeps receding slowly. But this is not something you should worry about. XRP is fundamentally sound, it was the world’s most profitable coin during 2017 (the year of all profitable coins) and chances are that fundamentals will end up being more important in fixing its market price, rather than sheer speculation.

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) investor? Be Careful with Kiwidex.io

by

The Warning

A couple of days ago, the TronTokens Official Twitter account issued a warning about a little-known website called Kiwidex (kiwidex.io). We show you the text of the tweet:

In order to assess the warning about the website we took a few minutes to get acquainted with kiwidex.io and we, as well, detected a few things that are a tiny bit suspicious.

The website

It starts at the get-go. The website sells itself as “The world’s first decentralized exchange bases on TRON and supports mobile terminal”. Let’s not pay attention to the fact that people who’re doing this website can’t even write English (it’s supposed to be “based” not “base”). But nevermind the grammatic pedantry, the statement is just completely false.

The first Tron-based decentralized exchange was the DEX hosted at Tronscan. There’s just no way around that. And after Tronscan it was GOC. So things start to look fishy as soon as our browser loaded the webpage.

And about the rest of the warning, well, things don’t look any better.

If every deposit you do into the site is sent into a single address every time, then it just cannot be a decentralized service. The whole point in decentralization is that no single node in a network has any privilege, so if this was decentralized (as it claims), every transfer should be sent to a different node in the network.

Of course, those would have to be authorized nodes to take deposits in, so if the list was small, it would make sense, but you can’t have a decentralized network of one, just as you can’t have a football team of one.

So it’s centralized, that seems quite obvious?

What about P2P? Well, it’s a corollary. You need peers in order to build a p2p network, and if everything goes to a single address, that means that there are no peers, but only one central authority.

Should everybody avoid it?

So far we’re only telling you about things that are absolutely obvious because of the warning and from a very quick inspection to the website. Should you listen to that Twitter warning and stay away from the site? We believe so.

There are already good, reliable, and safe decentralized exchanges in the Tron network. We already mentioned two. So there’s is no need for you or anybody else to take even the smallest risk by sending tokens into a website that looks weird from the get-go.

Let’s just be clear about something: We don’t have proof positive that kiwidex.io is false, or dangerous, or fraudulent. What we are saying is, quite simply, that it doesn’t look great, and running useless risks is just pointless.

Investing in cryptocurrencies is already quite risky (which was the only truthful statement we found at the site), so why make it riskier by using a service whose reputation is questionable so easily and so quickly?

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.