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Binance receives over 1.6 Billion Tron’s BTT from an unknown wallet

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Since its acquisition, last year by Tron Foundation, BitTorrent (BTT) has quickly made a name for itself as one of the world’s most relevant blockchain protocols. Delivering sweeping changes to its customer base, BitTorrent continues to come up with innovative ways to stay afloat in the murky market with the introduction of its new blockchain-based product, BTT.

BitTorrent token, which goes by the ticker BTT, is a cryptocurrency that came to existence in early 2019 after the collaboration between BitTorrent and Tron. The main aim of the BTT token is to tokenize popular file-sharing protocols that have the potential to enhance customer bandwidth availability and content delivery with the assistance of blockchain technology.

At present, BTT is a TRC-10 virtual asset that is based on the Tron platform, a makeup that can be compared to ERC-20 virtual assets that run on top of Ethereum’s platform.

Since early this year, BitTorrent Token BTT has gained traction and the support of almost 36 crypto exchanging platforms and wallets, positioning it to become one of the world’s leading cryptocurrencies.

To further reach this goal, BTT mother company BitTorrent is positioning itself to promote the advancement of BTT-enabled projects, enriching the development of BTT’s ecosystem, broadening use cases among many other things by officially launching three programs. The new incentive programs will be for uTorrent and BitTorrent users, partners, and network as described by Tron and BitTorrent CEO Justin Sun:

“With these new three incentive programs, we intend to introduce a new constituency into the blockchain ecosystem and make our powerful technology accessible with products ordinary people require daily,”

Sun added,

“What we are creating will be of benefit to a billion businesses, active Tron and BTT users, and computer installed base.”

What are the Incentives?

Since the company’s inception in 2004, BitTorrent users have downloaded and used the application on over 1 billion gadgets. The P2P software company currently serves over 100 million active subscribers globally, and the tokenization of its network through BTT is progressing well. The incentives, the tech company hopes to be a game-changer for them are Partner incentives, Ecosystem incentives, and User incentive.

1.6 Billion Tron-powered BTT tokens wired from an unknown wallet to Binance

Yesterday, an unknown user transferred over 1.6 billion BitTorrent Tokens, BTT, worth 1.04 million USD from an anonymous wallet to a wallet on Binance. According to reports from Whale Alert, the transfer took place at around 03:00 UTC leaving the sender with zero balance on their account but with 0.1 TRC on their virtual wallet.

As for the receiver, it is interesting to note that at the time of writing, they have a total of 280 million TRX tokens and a massive collection of 39.11 billion BTT among other cryptocurrencies in their wallet. The receiver had roughly over 40 trillion TESTTWO tokens, 1 billion TronKey’s and an impressive list.

Being a TRC-10 cryptocurrency that is based on Tron’s network, BTT fosters faster speeds on the world’s most significant decentralized application. Additionally, BTT’s official website indicated not too long ago:

“BitTorrent protocols for all torrent clients and users are optimized by BitTorrent Speeds. BTT tokens are available for bidding in exchange for faster downloads. Users should not worry as our BTT tokens will be stored in an in-built wallet that can be exchanged for TRX through a decentralized exchange.”

At the time of writing, BTT is ranked at number 36 on CoinMarketCap. Tron’s baby currently trades at $0.001288 with a market cap of about $273 million after going down by 2.03% in the last 24 hours.

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.

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Triple threat match between Ripple, Facebook, and Swift for cross-border remittance

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Development of cryptocurrency in the digital payment category may have influenced the cross-order remittances. The number of blockchain startups and other financial institutions are seeing this as an opportunity to leverage their business shortly.

To exploit this opportunity businesses have started making use of their existing colossal user base, like Facebook while others like Ripple are partnering with fellow financial institutions like Moneygram and Coinfirm to take their game to the next level.

Understanding cross-border remittance

According to a report from the World Bank, there seems to be $529 billion in 2018, which is the remittances from the middle and low-income nations – which is more than 10 percent in 2017. Also, it is expected to reach $550 billion in next few years, which is why fintech firms and blockchain startups are considering this as an opportunity to tap into and leverage the same – calling it the lowest hanging fruit.

The mere purpose of immigration gets nullified when the remittance rates and cross-border money transaction rates are outrageous. On average, to transfer $100 using traditional means other than the emerging ones like Ripple, it costs around $7, which is expensive.

Considering Asian and African immigrants in Europe, the US, and Gulf, they would need to send the money back to their family and dependants in a definite period. These remittance rates are actually hitting the expats hard, thus avoiding the actual benefit of having an income in foreign currency.

Leveraging the lowest hanging fruit

Financial institutions like MoneyGram, Paypal, or Western Union, are really locking these transaction rates quite high, which in turn is allowing blockchain startups to find an alternative to this traditional and inefficient means of remittance. That precisely is what Ripple is trying to do; the blockchain firm has a vision of creating a dent at global than just doing roadmap of features. It seems they are here to fight between 0 or 1, to either make the impact or accept the failure.

Cryptocurrency based solutions are working to provide a cost-effective approach to this existing cross-border remittance procedure. For example, consider PayPal, it charges a flat price of 2.9 percent and $0.30 for a single online transaction.

Not too long ago, a spokesperson from World Bank mentioned something about the global state of remittance and how fintech firms can make a significant impact in the future,

“Although geography plays a huge role, the cost is the biggest challenge to financial inclusion. This is both from the perspective of the service provider, in the sense that the costs to provide financial services to the abysmal (including rural dwellers) can be prohibitive. Also, from the perspective of the user of the service (for meager-income individuals and families), the cost of using financial services can be prohibitive.”

Ripple has already been researching on these cross-border remittance procedures and its planning to do it using the decentralized ledger technology (DLT) by partnering with banks and other required financial institutions.

Though there are enough rewards when blockchain startups leverage this lowest hanging fruit, it comes with a price. Moreover, this is how the Spokesperson continued,

“Aside from the cost, we shouldn’t undervalue the role that gender discrimination plays. The result of this is a large (9% in the developing world) gender gap between men’s access to finance and women’s access.”

“While employing cross-border remittance, its good to consider Anti-Money Laundering and aiding terrorism as well” added the Spokesperson.

The battle of fintechs: Libra vs. Ripple (XRP) vs. Visa

But according to Jamie Dimon, CEO of JPMorgan Chase, cryptocurrencies can’t overtake the relevancy of banks payment procedures; he believes banks have already built P2P, Zelle, and TCH with better real-time transaction methodology.

Facebook, with its recent Libra project, is trying to leverage its social media user base, to tap into this market while Ripple is already partnering with other financial institutions to stabilize its overall financial journey. Also, Libra could violate the precedence of sovereign fiat, thus diluting the financial powers of underdeveloped and developing countries.

This battle seems to have already begun between Libra and XRP, especially after Ripple’s partnership with MoneyGram. With MoneyGram’s liquidity and Ripple’s robust operating system, XRP could be more rigid. With ordinance and compliance comes perfection, which is why Ripple has also partnered with Coinfirm, to make XRP a better option in the market.

It is worth noting that SWIFT is also in this race with plans of employing DLT based global payment innovation (GPI) platform. So it seems, SWIFT is actually planning to leverage upon Ripple’s XRP using its GPI platform when there is a cross-border transaction.

Instead of making things centralized SWIFT might make use of Ripple’s partnership with various banks and financial institutions, to use Xrapid and XRP creating multiple loops. With the obstacles in the cross-border remittances, cost-effective approach with the fastest transaction methodology, and end-to-end protection will be the leader in this business.

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.

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Ripple (XRP): A Closer Look at the Future

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Cryptocurrency and blockchain technology is on the rise at a slow but steady rate. Ripple is one blockchain firm that shows no sign of stopping. Those already invested in such technology will have a story to tell of how the market can sometimes swing in or against them.

It’s pretty common as we’ve observed over a decade now, that some digital assets come up but fail to cement a position. Therefore, new folks looking at the crypto space aiming to jump into the ship will surely want to know about what may happen to some of the current giant cryptos.

One of them is Ripple blockchain and its digital currency, XRP. For any investor, it’s almost apparent being unsure whether or not a digital asset is promising.

So, what is the Path of Ripple XRP?

At the moment, it can be easily said that with regulation, high adoption level, and institutional investment, the future of bitcoin looks more than bright. But, what about the cryptos like Ripple’s XRP that are more industry-specific?

Do they have a clear path ahead of them as well?

One thing is that XRP is built and highly driven by the Ripple technologies which are indeed attractive to institutions, and can help any retail investor as well as retail banking customers.

Interestingly, these technologies are mostly centered in a future existing in the banking as well as the industrial sector.

Another question arises here, where does that leave XRP as Ripple grows as a project?

Perhaps, XRP may continue as an excellent investment with great focus from crypto investors, but eventually, the growth of Ripple might shadow it down.

Ripple’s technologies are clearly poised to grow because the Brad Garlinghouse’s blockchain firm has a defined and vivid ambition of being on the wheel for fast payments across the world with the cheapest as well as the most efficient way.

When that happens, it will mean that the likes of MoneyGram and Western Union will be reading the back of Ripple. At the same time, XRP will be expected to grow as well. However, the only worry can be whether XRP will finally be on hold.

Investors hold the Key

It’s no secret that XRP has the vision to hit $10 as soon as possible, but if they get pushed out of the way, then their view would be hindered.

However, understandably, investors will have a significant impact over the same. Continuous investment in XRP will push it out of risks of being stagnant in cases whereby investors stop investing.

Apparently, currently, Ripple is moving along with XRP very well with substantial financial interest; hence, XRP price dropping significantly is unlikely. Given that Ripple will surely grow; the future of XRP as well is a promising one. Nevertheless, time will tell us all what’s ahead, but the blockchain firm’s tech would more likely be a game changer not only in the crypto market but the international remittance sector too.

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.

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Ripple CTO: You cannot revolutionize international finances overnight

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Fortune’s Jeff Roberts interviewed Ripple’s CTO, David Schwartz, earlier this month on June 12th during the Future of Fintech conference in NYC. It was fascinating, and in this article, we give you some of the highlights.

Ripple

It all started with a very concise explanation from Mr. Schwartz about what Ripple is. It’s a fintech company which wants to help financial institutions all over the world to eliminate friction from the settlement of international payments.

He started by explaining that the current standard system for international payments (SWIFT) predates the digital era. It’s mostly just a messaging system that announces a payment is going on its way but can’t tell you the path it will follow, the fees it will charge, or even if the target account exists.

In fact, according to Mr. Schwartz, Ripple found that the “plumbing” in the system was so outdated that just coming up with a better messaging system (let alone using blockchains or cryptocurrencies) improves things very much indeed. That’s why Ripple developed xCurrent, one of its software platforms, which is indeed basically just a messaging system that, nevertheless, is way more advanced than SWIFT.

The next question was, why is Ripple’s XRP needed to solve this problem? Mr. Schwartz started by recognizing that it’s a good question. He said that Ripple has been struggling to persuade banks to adopt XRP because they’re usually very conservative institutions that prefer to move slowly.

He continued by saying that Ripple also has noted that the non-banking payment industry (remittance services) are so much more aggressive and willing to move forward. They like to save time, money, and costs for themselves and their customers.

YouTube video

Next, he explained how volatility favors the use of cryptocurrencies instead of fiat currencies. Digital assets are infamously highly volatile. Prices change all the time, and they can do so in dramatic ways. Fiat currencies are very stable by comparison, but they remain volatile up to a certain point. That’s where transfer times make all the difference.

Let’s say you want to transfer USD to MXN (Mexican Pesos). If you do in in the standard way, it will take a few days. And the USD/MXN trading pair is volatile as Forex pairs go, so during those few days it will take to complete the operation, the very low volatility in the Forex market could be enough to show you its teeth.

If you carry out this transference using XRP, on the other hand, it will take two seconds. And two seconds is a short enough period that even the high volatility in digital coins will not affect you in any way. This is the problem that xRapid solves.

And on top of that, there’s an additional advantage: xRapid transfers do not need pre-funding, which means that institutions using xRapid don’t need to have frozen capital just waiting around until it’s required to complete an international transfer.

XRP is an open market place, that’s made it easier for Ripple to find partners because it’s cheap and available. So any institution who wants to participate can do so without problems.

Success story

When asked to give a success story, Mr. Schwartz talked about how a capital flow in and out of China, trading on the Yuan, formed organically during XRP’s early days. It had nothing to do with institutions (Ripple included).

There were enough people around the world interested in moving money in and out from China that they found each other and did it using XRP as a mediating coin. It had high trade volumes and high liquidity. The XRP ledger includes a built-in decentralized exchange, and that’s what did the trick. That exchange became the market place needed.

Stablecoins

The next subject was about stablecoins. Those are cryptocurrencies that are backed by some physical asset, most often a fiat currency. Mr. Schwartz said that stablecoins are a helpful thing because they help to protect investors against volatility if you can trust the issuer.

But you still need enough liquidity for the coins to be useful. But if the market sees a flood of different stablecoins, then it will not be convenient or efficient for anybody. In that scenario, XRP would help a lot because it’s neutral and open.

Facebook’s Libra

Then they talked about the elephant in the room: Facebook’s prospective cryptocurrency. Ripple’s CTO started by saying that Facebook has something of a trust debt to the public, and they will have to fix that problem before they can “credibly enter the space.” He further explained that money (which Facebook has abundantly) doesn’t buy you credibility.

That needs neutrality and reputation. While Facebook hasn’t published all the details about Libra, Mr. Schwartz considers that it looks like it’s going to be a collateralized asset. That means that it won’t be open because in that kind of market he who owns the collateral also makes the rules. And that’s beside the point in crypto, where nobody is supposed to come up with impositive regulations of any kind. He concluded by saying, “we’ll see when they publish.”

The other elephant in the room came next, which is Ripple’s issues with centralization. The CTO explained that while Ripple holds a vast amount of XRP tokens, the XRP ledger is indeed decentralized and Ripple has no legal right to control it in any way. It couldn’t if it wanted because there are very many validators in the network. It’s very democratic.

He then explained that Ripple needs and wants its competitors to succeed, as well. That’s how a cryptocurrency-based ecosystem can spread around the world and create the space in which Ripple and XRP can succeed as well. So the crypto verse is something of a ship in which everybody will make it or sink, and Ripple can’t build such ecosystem singlehandedly.

When talking about the cryptocurrency market erratic behavior, Mr. Schwartz said that the price in any digital asset is tough to understand indeed. Nobody understands what’s really going on. Mr. Schwartz likes to think that there’s a shift happening from pure speculation to utility, but he recognizes that he’s probably kidding himself on that regard, at least for the time being.

The conversation followed with Mr. Schwartz saying that SEC has so far failed to provide clear regulations for the crypto verse. First, they kind of green-lighted Bitcoin and Ethereum but then the agency recanted. He said that Ripple has been exceedingly transparent with all they do, but that SEC’s lack of progress in this regard puts Ripple in an awkward position. Regulatory uncertainty remains among the main obstacles to develop the digital asset economy.

Micropayments will be huge in Mr. Schwartz’ view. They will take over the world very much as the internet did. If that technology comes true, then you need nothing else to make even bigger payments. He proceeded to explain how web monetization currently works.

The conversation finished by playing the “overrated/underrated” game. In Mr. Schwartz’s view, Facebook, Bitcoin (qualified) is overrated; Ethereum, Ripple are on the underrated side.

It was a very illustrative interview which we encourage you to see in full because it can help you to understand a lot about Ripple for sure, but also about the cryptocurrency environment in general.

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.

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Google and Ethereum cloud build hybrid blockchain-cloud applications

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The best way to accelerate the adoption of blockchain protocols, as well as technologies, is by integrating it with the modern internet resources and public cloud services.

Blockchain is making giant advancements each passing day, and as a result, it’s not a surprise that several companies are working hard to ensure they make the integration as soon as possible.

And now, in a milestone achievement, the online tech giant Google has made its move. Google has unveiled a possibility of building a hybrid blockchain-cloud applications by use of the Ethereum (ETH) smart contracts tech alongside utilizing BigQuery, its native cloud service.

 Google’s Partnership with ChainLink is the Key

The tech giant announced that the Ethereum app builders using its very own software would enable the integration of data from sources outside of the Blockchain.

ChainLink is a company that provides the on ramps as well as off-ramps for information that is necessary to run the self-executing codes (smart contracts).

ChainLink offers a service known as an oracle to integrate the data such as interest rates as well as price information from the traditional finance into the on-chain smart contracts. Therefore, oracles add another layer to the already existing capabilities, which allows the implementation of processes directly on the Blockchain.

Google plans on targeting some key tech areas through hybrid applications and include some like transaction privacy, prediction marketplaces, and futures contracts.

Loopholes of Smart Contracts Execution Addressed

Since the smart contracts are embedded in the public blockchain network, they are effectively immutable as well as tamper-proof. For that reason, its participants commit resources on some agreement with trust that the contracts are automatically executed minus third-party intervention.

However, the issue is where to get these variables that can evaluate the smart contract. If data for the contract is not from some on-chain activity, an external data source is then required, and in this case, it’s an oracle.

The businesses processes which need implementation in the form of blockchain smart contracts require access to off-chain data.

Google is looking to close all these loops by using oracles that provide bidirectional interoperation between the on-chain contracts and the cloud services. Google would demonstrate it by successfully establishing interoperation between Ethereum-based contracts and its BigQuery cloud services via the ChainLink oracles.

Google would undoubtedly encourage more developers to build hybrid applications as they make the best out of the cloud-based services and the Blockchain’s smart contracts. Besides, ChainLink’s partnership with Google may serve to be a game-changer for the project given that still, Google is trailing Microsoft and Amazon.

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.

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Ripple CEO criticizes the decrepit Swift technology that banks use

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When bitcoin was invented a decade ago, and later more cryptocurrencies including Ripple’s XRP appeared, their use was mainly linked with anonymous ways of selling drugs as well as weapons online through marketplaces such as Silk Road.

Later, speculation set in and now it’s all about utility. The financial industry is, by far, showing the highest readiness of adopting blockchain technology for various reasons. And on the front foot, Ripple is leading as the best option for banks.

For that reason, now there’s no room for Silk Road. Subsequently, according to the Ripple’s CEO Brad Garlinghouse, the fintech startup is overtaking old Swift network in a blink of an eye.

Blockchain Technology is the Best and Only Way

The finance industry looks to be taking a new direction to finally adopt blockchain technology as the only way to stay at the top of the game. And as that is happening, SWIFT is being overtaken slowly.

Recently, in an interview with Bloomberg, Ripple CEO seemed confident that the Fintech startup is indeed the hot cake for the financial institutions. Brad Garlinghouse said,

“What Ripple is executing every day is to take over SWIFT. Currently, we’ve signed up over 100 swift-enabled banks that are now using the Ripple technology.”

The numbers are increasing with Brad stating that they have attracted a plethora of new customers who are looking for blockchain on solving logistical issues that are posed by the older systems.

Swift is used by companies as well as individuals for sending and receiving money worldwide. On the other hand, Ripple uses its digital currency, XRP, as a proxy for those customers converting fiat currencies.

What puts Ripple ahead is the fact that it provides liquidity and Garlinghouse states that SWIFT is far behind in terms of technology. In Garlinghouse’s words,

“The technology used by the banks today that Swift developed years back hasn’t really evolved or even kept up with the current market.”

He also added that despite Swift affirming some time back that they couldn’t see blockchain as the real solution; the time is now they should start eating their words.

https://twitter.com/_Crypto_Maniac_/status/1139030747623370753

The cross-border payments have been a significant concern within the financial institutions for a long time, and right now, the means of improving efficiency would be welcomed. Ripple looks to be the best shot for the institutions given the increasing number of banks integrating the technology.

We’ve already heard the rumors of a possible tie-up between the two (Ripple and Swift), but it seems to be rumors anyway as Brad insists that his firm’s main objective is taking over Swift. The task at hand for Ripple of taking over Swift looked impossible some years back, but with the current developments, Brad-led blockchain company’s nose is edging ahead of Swift.

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.

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Sun Network, Tron’s sidechain solution is up and running at full now

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It’s no secret that the Tron foundation is one of those dedicated to delivering beyond expectations. Perhaps, if you’re a crypto enthusiast, you’re well aware of the number of developments coming out of the Tron foundation.

One thing that has always been clear from the Tron foundation is about introducing scalability improvements as well as other features.

And now, everything is set for Tron to get that leading edge in the crypto space to provide scalable dApps as well as smart contract solutions. What makes it interesting is that Sun-led blockchain’s arch-rival, Ethereum has struggled to achieve such a milestone for some time now.

When it All Started

The news about the launch of the scaling solution was officially announced in April. The Sun Network is simply built to develop further the Tron ecosystem. For instance, it’s meant to comprise several scaling projects like dAppChain along with cross-chain infrastructure plans.

The dAppChain Expansion

dAppChain is basically Tron’s dApp sidechain expansion project that is likely to increase its dApps immensely. Also, it will focus on some other customizable ways of running dApps with high efficiency, security as well as low energy consumption.

Overall, the Sun Network provides unlimited scaling for Tron MainNet, which will bring a plethora of possibilities to Tron’s dApps development and the ecosystem as a whole.

Besides, it is anticipated that the solution will bring a positive impact to the entire blockchain industry with Tron network benefiting the most.

The execution of the dApps includes three phases. The first phase already went down on May 30 with a focus on unlimited Tron Mainnet expansion. It supports sidechain smart contracts, too.

The second phase takes place on coming August 30th and will focus on further decentralization as well as asset security of Tron network. Besides, it will support the community for sidechain ecological construction.

The third phase is implementation and scheduled on September 15th, in an attempt to facilitate an easy deployment as well as the integration of sidechains.

The other Areas of Focus

Tron is taking the dApps bragging rights and getting more and more dominant steadily. This dominance is helping Sun-led blockchain to consolidate its position in the market and even move further up the radar.

Furthermore, the volume of dApps is increasing daily, further increasing the adoption of TRX and smart contracts. Given that Tron’s app activity targets blockchain-based gambling and games which drive high trading volumes, it seems, Tron is indeed destined for a good run going forward. As things stand, the new Sun Network will take Sun-led blockchain to the new heights. Time will tell us all, everything.

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.

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Tron dapps ecosystem thickens while EOS and Ethereum lose grips further

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The dApp community is taking shape, and it is good news for Tron enthusiasts. For a few months now, the giant crypto bitcoin has stolen all the headlines within as well as outside of the cryptocurrency.

As far as the crypto space is concerned, 2019 has been the best year thus far since 2017 with several cryptos gaining significantly. This year’s best performer has been Binance Coin even though Bitcoin has done remarkably well.

But did we miss something?

Tron dApps are gaining the market share and are now on the wheels. For some time, the dApp ecosystem has been dominated by EOS and Ethereum. However, Tron has its nose forward.

The New King of dApps

The signs were there, and it was a case of when rather than if Tron would take over the bragging rights for the dApp ecosystem. And now, according to a recent review, Tron has made giant steps going by its 24-hour dApps volume.

As always, Tron CEO didn’t fail to give an update on the same as a couple of days ago, he tweeted a 24-hour volume surpassing $11.8 million meaning EOS and ETH are now trailing.

As per the numbers, the first 12 dApps by Tron pulled over 42,000 users. Interestingly, more gaming applications were recorded, unlike a previous record that was dominated by gambling apps.

The numbers are impressive, but there’re concerns. The usefulness of these dApps is somehow questionable since most of them are related to games as well as gambling. Nevertheless, Tron is getting well up the radar.

New dApps onboard

Getting ahead of the likes of Ethereum and EOS is not a walk in the park and Tron network knows it. For that reason, adding new dApps is another way of getting ahead of the rest.

As per the weekly dapp report released by Tron, 16 new dApps were added to Tron according to a dApp report. It now means that a record is on the books.

The total dApps on Tron now is more than 463. Furthermore, the number of daily users increased by 20,000.

Checking on Tron Competitors

Tron didn’t wake up and found itself on the top. Initially, EOS and Ethereum were ruling the land. With the new regime now, while Tron recorded a 24-hour volume of $11.8, EOS volume was at $9.4 million.

EOS has over 120,000 users, while Ethereum has 12,000 dApp users and had a 24-hour volume of $1.7 million.

Tron looks to get even stronger given the collaborations being made. The Sun-led blockchain’s integration with the Loom network is a significant step. It may not be long before the 11th digital asset takes a position among the top ten. As we write this, after going down by 1.35% in the last 24-hours, Tron price stands at $0.03144 with a market cap of $2,096,456,156.

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.

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Bitcoin, XRP, XMR and more: Top 10 cryptos that you can actually use

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As we write this article, coinmarketcap.com lists more than 2100 cryptocurrencies in total. And that’s not an extensive list by any means. Some digital wallets support more than 3000 coins. If you compare that with the number of tokens listed by the same site as 2017 was beginning, which was of 860, you’d have to conclude that the cryptosphere is growing faster than asparagus –at least regarding token variety.

Bitcoin, mother, and father of all cryptocurrencies, is still responsible for most of the value in the market, as well as for most of the trading volume. That’s no surprise at all, and no other digital asset is even close to challenging Bitcoin’s dominance in the foreseeable future.

It would be only too easy to think that none of those coins other than Bitcoin are worth anything, or useful at all. Given Bitcoin’s overwhelming relevance, that misconception would be understandable, but it would remain a misconception, nevertheless. True, Bitcoin remains the coin with most adoption in the world, and the best option for wealth storage purposes. As a payments system, it already rivals Visa and Mastercard. But as Goliath learned the hard way, size isn’t everything.

Bitcoin was created with a clear purpose in mind: to substitute fiat money once and for all in such a way that central authorities and irresponsible bankers could never again create a global financial crisis for which we all have to pay. That’s a very general (and ambitious) objective to be sure, but some analysts believe it could happen.

The thing is that not all blockchain projects want to change the world so radically.

Among so many cryptocurrencies, one finds that many of them are little more than pet projects from a bunch of bored developers. They are worth little or nothing, they don’t solve any problem better than Bitcoin, or any other coin and, consequently, they are not making any progress in achieving adoption because they are utterly useless.

But if you look more carefully into the market, you’ll find a few blockchain projects that were created with a particular purpose in mind, and they were deployed and developed in such a way that they are handy when dealing with the problem they’re meant to solve.

In this article, we will tell you about those projects. The ones created to be useful. Some of their applications could even be useful to you, right here, right now, if you only knew you had the option to use them. So let’s start.

Bitcoin: The Genesis

Bitcoins remains king, as it’s been from day one.

Created in 2009 by the elusive computer and cryptography developer Satoshi Nakamoto, it came to life to become an alternative to fiat currencies and to empower economically those who are left out of the traditional financial system.

Satoshi saw (as many more people did in the aftermath of the 2008 global financial crisis) that central banks and governments had become complaisant, insidious and inflationary. Colluded, even. Little more than enablers for the world’s biggest banks incompetence and greed.

But unlike almost everybody back then, he tried to find a way to solve that situation. And his solution was to use decentralization to guarantee trust. Centralized ledgers would no longer act as arbitrary central authorities that can do anything they please and charge anything they want when it comes to transferring funds.

But besides creating a global payments system that now rivals both Mastercard and Visa, Satoshi created a new way to store value. As long as there’s a Bitcoin network online, the value of every token is preserved.

The network is comprised of more than 10.000 active nodes running in full, managing and validating transfers and creating new blocks for the chain  – and thus, new Bitcoins. This attests the protocol’s power, as well as the power of decentralization as Satoshi imagined it. And it keeps growing so it will only become bigger and better.

Calculating the SHA-256 collision that allows creating a new block and a few new coins is, of course, enormously tricky. That’s been a problem because it’s made the network slow when transacting directly on the chain, and transaction fees can be high depending on the currency’s value. But even that problem has been solved for the most part by the Lightning Network, a protocol designed by the developing community to deal with those issues and that’s already delivering results and improvements.

As the oldest cryptocurrency in the world, Bitcoin has passed the test of time with flying colors.

Ethereum: The smart contracts and decentralized applications pioneer

It all started with an announcement by the project’s creator and leader, the Russian Vitalik Buterin, in 2014.

Ethereum extended the horizons of blockchain technology. Mr. Buterin found a way to use blockchains as a programmable platform that enabled users to develop and deploy decentralized applications and smart contracts. This was revolutionary in itself, it was the dawn of second-generation blockchain technology.

So why use blockchains to develop apps and contracts? Because blockchain technology ensures that they won’t have the weakest link that could bring the platform or the contract down, which is not only possible but common in centralized technology. That’s the power of decentralization.

On top of that, a truly decentralized application can’t be brought down by any means at all. Once it’s running, it will remain running as long as the network is active. That is, of course, the ideal scenario and we still don’t have many – if any – of those.

Ethereum has been incredibly successful in implementing its distinctive technology. It helped that it was the only game in town for dApps and smart contracts until last year. But regardless of the competition it now faces from third-generation platforms (Tron, EOS and others), the sheer reputation it enjoys in the cryptoverse is second to none but for Bitcoin’s.

The platform’s success regarding dApps has been challenged by Tron and EOS over the last few months, but when it comes to smart contracts, it remains the go-to project in the world.

The network has some issues to be sure. Scalability, transfer speeds, and gas prices have been a common complaint among users for a while now. This is normal in a network that’s about to become five-years-old which is an eternity in the blockchain world.

But the reason we’re including Ethereum as a project and its cryptocurrency (ETH) is that it has a practical use for sure. Also, because it’s become so important as the world’s second largest cryptocurrency by market capitalization, ETH shares almost every use case Bitcoin has. For the most part, wherever you find support for Bitcoin, you also find it for Ethereum. So while it’s not a payment system as extensive as BTC’s, it’s still a large and viable one.

Monero: Anonymity’s champion

Bitcoin’s ledger and blockchain are not private nor anonymized. As a matter of fact, it’s public and transparent. Any internet user can use the network’s block explorer and track down any specific wallet’s activity if he’s willing to put in the time and the work. Oh, you didn’t know? Well, that’s not surprising. There’s been so much misinformation floating around about BTC uses for criminal endeavors that imply almost complete anonymity that it’s comprehensible if lots of people, even some relatively familiar with the cryptosphere, incorrectly assume that Bitcoin’s network isn’t public.

Monero’s creators do know that Bitcoin is not as private as people think so they set out to create a new blockchain in which anonymity is the core value. Thus Monero was born in 2014, and this blockchain is indeed authentically anonymous, private and fungible.

The project’s kept making progress. More recently, in 2017, it’s managed to implement stealth addresses successfully, ring signatures and ring CT-like technologies (which is quite technical and we won’t go into the dirty details, so you’ll have to take our word for this: it’s suitable for anonymity). The only pending issue is hiding IP addresses.

That would be a good thing to include in the protocol and, once it’s implemented, your transactions with Monero’s cryptocurrency (XMR) would be genuinely impossible to track. The technology is so effective that some countries, notably France, are considering banning XMR (and other projects with privacy in mind) because it really takes away the government’s power to know what you’re doing with your own wealth.

That being said, you don’t really need this feature to be included to have it. If you just transact with XMR through Tor or the onion network, you’ll have the best of both worlds. Yes, Tor can be slowish. But how much time is privacy worth to you?

A Twitter by one of Monero’s leading developers, Ricardo Spagni, is very illustrative of Monero’s power to keep you off the grid (kind of). After the AlphaBay debacle, government investigators were unable to figure out even the number of XMR tokens in the platform. In his words, “Monero is so private that law enforcement can’t figure out how much the AlphaBay owner had; not so with the other cryptocurrencies.”

So this project’s practical use should be self-evident by now. It’s all about privacy and anonymity. And that is controversial insofar as it’s a useful tool for misbehavior. Let’s not beat around the bush. Monero is good for criminals, there’s no doubt about it. Does it make it a bad thing? Not at all. If WikiLeaks, Julian Assange, and Edward Snowden have taught us anything at all is that privacy is a precious resource that some of the world’s governments are not willing to grant us as private citizens. So why should we not use every support available to keep a step ahead in the game?

Factom: The blockchain’s Akashic records

It’s a low profile project that came online during 2014. It aims to be the world’s perpetual record keeper, which is no mean ambition.

Peter Kirby founded this project. In his view, Bitcoin’s design hardwires some limitations into the system that can’t be solved creatively. And yet, it’s demonstrated that it’s the most reliable and indelible record system ever known to mankind.

Factom is all about using Bitcoin’s security and immutability for information other than financial transactions.

Once the Factom platform learns a new piece of data, nothing can change it. It becomes written in stone (digital stone, in this case) because Factom anchors it to Bitcoin’s blockchain. That acts like something of an existence certificate for the piece of information in question which can be anything digital at all. Videos, documents, audios, probably even software. In this way, you can use the platform to verify the item in question and keep it safe.

Factom’s blockchain has nothing new about it. It’s quite merely Bitcoin’s SHA-256 chain (if such chain can be considered simple) and a native blockchain developed by the project. There are three things on the menu:

“Proof of Existence”
“Proof of Process”
“Proof of Audit”

It works, and it’s become the world’s premier decentralized notary.

The project’s practical value is attested by the 126+ million records it currently holds.

So far, Factom has secured over 126,485,400 records, which is a testimony to its practicality.

Dash: Digital money

Dash came to life on January 18th, 2014 under the name of “XCoin.” It was developed by Evan Duffield. On February 2014 it was renamed as “Darkcoin,” and then, on March 25th, 2015 it was renamed again as “Dash.”

The creator’s idea is for Dash to be easy to use as well as anonymous for users who care a lot about privacy.

Dash examines the best things that the traditional financial system and fiat currencies have to offer and then tries to adapt them in the cryptoverse in the most user-friendly way possible. Dash doesn’t want to be in the spotlight, but it’s instead content to be the powering engine under the hood of a user interface that looks very much as traditional banking.

Dash’s strength is in its practical use cases, which make it a good investment. The work that the management team puts in daily is also remarkable. InstantSend and PrivateSend are noteworthy characteristics that set a robust fundamental value for the project.

If your current cryptocurrency portfolio lacks at least a bit of Dash in it, you should reconsider your positions and find a way to include it.

Golem: Decentralization in computing power

Can you imagine an open-sourced, decentralized super-computer working on blockchain technology? That’s what the Golem project is, and it’s the first of its kind in the industry. It’s power by the network’s native cryptocurrency (Golem or GNT, Golem Network Tokens) which is Ethereum-based. The token’s value is not as vulnerable to inflationary pressure and speculation because the total number of coins in circulation is fixed.

Golem’s computing power comes from all kinds of computers distributed all over the planet. From small laptops and portable devices to large data centers. If you use Golem’s platform, you can use all that power to run your website, do a problematic scientific calculation, run a long piece of code, render CGI. You can even use it to run mining software.

It’s not for free. You have to pay for your usage with GNT tokens which you can get at some cryptocurrency exchange platforms, or you can get them by renting out that extra computing power that you have laying around at home or at work and that you’re not really using.

Golem’s roadmap is planned for the next 4-5 years which is an eternity in the cryptoverse. But there’s a lot of potential in a project that can make a supercomputer available to anyone in the world cheaply and effectively. Just imagine how now, any isolated scientist can have at his hands as much computing power as the world’s big boys (think NASA or some o the world’s top universities) to develop an exciting project that couldn’t take off otherwise because of lack of computing resources.

Siacoin: Decentralized clouds

This is a very down-to-earth project with a convenient usage which is to use to harness the blockchain’s power into a decentralized cloud storage system. Cloud storage is becoming more common by the minute so it will be fascinating to see how Siacoin develops in the next few months.

Sia enables users to make some passive income by renting out their unused storage space to the network, and there’s plenty of them. The system has 1.7 PetaBytes in storage space, of which it’s using only 212 TeraBytes currently.

You could wonder if the world really needs yet another cloud storage system when we already have services like Google Drive, Dropbox or Amazon Cloud. And the answer would be yes because of two main reasons. Firstly, Sia is decentralized and blockchain-based, which sets it apart from the mentioned commercial options in terms of reliability, and privacy. Secondly, Sia’s service is way cheaper. Both things are achieved by storing data on the blockchain, instead of using expensive centralized servers.

Also, centralized storage services have bottlenecks. We’ve all had that episode in which Google Drive takes ages to erase a bunch of small files or to synchronize with your computer, and it’s just useless in the meantime.

The nature of this project means that success is something that can only be achieved (or judged) in the long-term. And also, it’s the service itself what’s essential, more than the project’s native cryptocurrency’s value (it’s called Siacoin, SC), so the Siacoin project has a long way ahead.

Success would be to become a competitive option to the major centralized services we all know already. But it also has to face competition from the cryptoverse with projects such as Storj and MaidSafe offering similar options. Sia’s strengths are in improved decentralization and encryption.

The developing team is entirely satisfied with their ability to come up with an exceedingly competitive product. So much so, that they are not interested in marketing.

This is one of the most “real” blockchains in the crypto world, and it will be worth it to keep an eye on it in the months and years to come. And who knows? Even to use it if you need some extra space for storage or to rent out some space, if you have it.

IOTA: The internet of things

Many new (and not so new) blockchain projects maintain they’re the crypto verse’s next generation. IOTA is one of them, and we’ll give you some information so you can decide if they are.

The project aims to turn its cryptocurrency into the most used one on the internet.

One of IOTA’s unique features is the transaction price: there isn’t one. Transactions are entirely free which doesn’t happen at all in other projects (small as the transactions fees may be).

Also, we made a mistake in the first paragraph. We’re not talking about a blockchain project because IOTA doesn’t use a blockchain at all. Instead, it’s powered by Tangle technology.

IOTA’s adoption is chained to the adoption of IoT devices so it could grow very slowly, but when that market becomes relevant, it will already be in IOTA’s pocket which is why we shouldn’t ignore it.

Expect a slow adoption rate for IOTA because it will only grow as more and more people start using IOT things and smartphones/smart devices.

Ripple: Blockchain for remittances

Few blockchains get as much attention (both positive and negative) than Ripple and its currency, XRP.

Ripple was founded with a very definite purpose in mind, which it has pursued relentlessly for almost seven years. It’s not something that you and I can use directly, but we could still feel its benefits in years to come. Ripple wants to get rid of all the friction and red-tape that characterize sending money across borders using the company’s blockchain, software solutions, and cryptocurrency. Because of the company’s mission, its clients and partners are not individuals, but banks and remittance services and the currency’s retail use cases have been rather scarce (but that is changing quickly).

Payments issued through Ripple’s technology are settled in a matter of minutes, they cost fractions of a penny, and they’re very reliable. The traditional system (which bears the involuntarily sarcastic name of SWIFT) takes days, and it’s quite expensive, usually requiring a fee of around USD 25 or a percentage of the payment.

So Ripple’s idea is to become the engine under the hood for the world’s banks and remittance services, and it’s succeeding. It already has more than 200 strategic partners in the globe which include some of the world’s largest and more influential banks such as Banco Santander.

Besides that use case, XRP has proven to be a sound investment option. It was the most profitable coin among all during both 2017 and 2018 (which were, respectively a year of bonanza and a year of winter, so it’s the coin for all seasons), and it’s also becoming a retail currency available to end users. In the last few months, several fintech projects have been issuing debit cards funded by XRP tokens (among other currencies which include Bitcoin and Ethereum), which means that, if you have one of those plastics, you can pay your groceries, or beer or cigarettes, using your digital assets.

Ripple is growing steadily at a time in which most other blockchain projects are shrinking because of the prolonged crypto winter, it’s well managed, and it’s been a sound project from any angle you could adopt. And that’s all based on a single successful practical application.

Civic: ID service for the world at large

Civic’s mission is to use the blockchain to create a decentralized digital identity for everyone in the world. This may not sound as sexy as the previous projects on the list, but it could be incredibly useful.

Civic’s digital identity would comply with the variegated rules imposed by different governments all around the planet.

The first step is to secure data using Civic’s blockchain. Then, the stored data is verified meticulously by Civic or one of its business partners. Once the data’s validity is ensured, it’s attested and included in the blockchain as un-decryptable data. And this data can only be exchanged between a user and the party to whom he’s trying to demonstrate his identity through the use of Civic tokens (CVC).

If the project succeeds, you wouldn’t need to keep typing your info in every site you visit or use. Or every bank, or every hospital, or every insurance company, etc. The process would become frictionless if Civic’s technology succeeds, and the strength in blockchain technology would make identity theft problems impossible.

This could be the most controversial use case among those already explained in this article. But there’s no doubt that it would have practical value.

Digital assets and practicality

The crypto verse is going to keep growing in the present and the future. As it matures as a market and a system, some cryptocurrencies will consolidate, and some others will go away. And that will tell us which were the ones that are actually useful in the real-life (even if in the digital real-life only).

Our list is incomplete, of course. The cryptosphere is enormous, and covering every potentially useful asset would take a book and not just an article. So we left some excellent projects out such as EOS, Tron, Cardano, Electroneum, Binance and many others. Tron alone has several currencies with massive potential within its network (like the BitTorrent Token, USDT-Tron, and TRX itself).

But the thing to learn from all this information is this: Bitcoin was created to be useful, and not just a toy for investors to have fun speculating. And its value stems from its ability to solve problems. And the same goes for any other blockchain currency in the market. Market cycles will come and go, and we will always have incredible years such as 2017 and catastrophic years such as 2018.

But the long-run is going to be all about real-life value. That will be the one factor that boosts any token’s value in the market which is why locating the projects that have that potential and those strong fundamentals is essential for anybody who wants to dive into the cryptocurrency market.

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.

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A glance at the cryptocurrency market: November 2017 and now

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The cryptocurrency market as a whole is worth somewhere around $275 billion. So today, in June 2019, it’s more or less on the same level as November 2017, as it was ending. So the market has been going from one point to basically the same location, but the road has been very long and hard. The greatest boom happened exactly as November 2017 ended and, then, during 2018, we saw the market lose about 85% of its total value in a protracted bearish run that affected every blockchain project in the planet.

Dot com and crypto

The vast volatility we see in the cryptocurrency market is typical of emerging industries and economic activities. The internet economy behaved similarly. The stocks rose by 50 times between 1997 and 2000 only to crash down at the tune of 95%, reaching their historic low in September 2002.

As the year’s end saw the industry recover some of its value, too many investors were left too afraid of facing further losses and didn’t want to join back in the action. In the end, thigs stabilized, many companies disappeared, but those who picked the right assets – Amazon, for instance, or Google – were able to negotiate all the previous red numbers and even make a handsome profit.

So while there are definite similarities, there are also some critical differences between the dot com boom and the cryptocurrency market. In the dot com fiasco, failing companies went bankrupt, liquidated, and disappeared. The cryptosphere is not like that. There is not such a clear line that tells you (and the market) when a project has failed already.

So, in the crypto verse pets dot com is still around. Maybe nobody is maintaining the blockchain’s network or code. Perhaps it only keeps a handful of active users (there are romantic optimists everywhere). And that small number of idealistic users can keep “alive” in the market a cryptocurrency that’s dead by any other meaningful standard. But we still have no mechanism that can let us know what those projects are. Even worse is the fact that all projects start like that too. Bitcoin too was like that in the beginning.

So achieving some stability in the crypto verse would take several ingredients. One of them would be to separate the wheat from the chaff. This allows cryptonauts to find coins that hold great potential and that are still very cheap because their market behavior doesn’t follow BTC as closely as many other currencies.

That matters because a blockchain project can only stay on the top of its game if it can attract enthusiastic developers that bring their talents to the network. That needs uninterrupted momentum. And that momentum and the evidence of strong fundamentals in the developing community attracts more talent, investor capital, and enthusiasm from traders. It’s all about creating a virtuous circle.

Are there any answers?

So how do we find the chaff? We would suggest starting by looking at the coins that made up the top 20% of the market capitalization by November 2017. At that time, everybody was doing well. But some of them negotiated the 2018 crypto winter successfully. Dash, Cardano, Tron, Litecoin, Ethereum, EOS would be examples of this.

They’re dependable in terms of fundamentals, but they’ve failed to capture the investors’ imagination. The market is at the same level of November 2017 right now, but these coins (reliable though they are) are still not at that level. They still have something like 25% to recover if they’re going to reach that goal. So this category is made up of substantial projects that are not in most people’s wish list.

Another bunch of currencies to notice is the group comprised of those that have lost capitalization in Bitcoin terms even in the current 2019 rally. There are about 540 coins in this situation, and some big names are included. NEO, IOTA, Stellar Lumens’ XLM, Ripple’s XRP, and Monero are among the best-known examples.

XLM and XRP’s primary use case is settling international transactions; Monero’s XRP is a currency that seeks to bring privacy and anonymity to the center of the crypto verse; IOTA wants to bring cryptocurrency into the Internet of Things world; NEO is a smart contract platform. So as you can see from this shortened list, we’re talking about solid projects with specific use cases.

So what to make of them? They’re bargains because if they gather momentum, they will become unstoppable. But they’re risky too. Monero, for instance, is unlikely to be tolerated by many of the world’s governments. XLM and XRP are competing with private blockchain projects that are trying to disrupt the same markets but that are developed by banks and work closely together with regulators. It’s not that they’re not good. On the contrary, they’re maybe too good for the mainstream to adopt.

Then we have Bitcoin Cash, Bitcoin Gold, HyperCash, Gold Bits Coin, Metaverse ETP. They were 13% of the market’s worth in November 2017, and they’re not even close to recovering their value (in BTC terms) in the current market. They’ve been down by about 77%, and they don’t show any signs of any meaningful recovery. We would conjecture that mainstream investors, as far as any cryptonaut belongs to a mainstream, gave up on these coins a long time ago.

The next group, which some would consider the real chaff, is comprised of 111 currencies that were at USD 25 billion collectively at their peak but that they’re now under USD 1 billion. There are no recognizable names in this group.

So, we’re left with five cryptocurrencies that accounted for 53% of market cap on that infamous November 2017. They really went up when everything boomed during the next month. They suffered during 2018, but they still kept good value and, now, they’re back with a vengeance.

Are these good investments? Probably not, they could be too high in price all ready to take away profits soon, but they have shown they perform under any set of circumstances. These are the cryptocurrencies for all seasons. So who are they? Bitcoin, EOS, Binance Coin, Basic Attention Coin, and Freicoin. The last two projects may seem out of place as they lack fame but look at their numbers.

Investing in cryptocurrencies can be very profitable and very exciting. But there’s a reason for that. Investments that are so exciting and have such high returns always involve very high risks. Besides, there is still no regulation, and the whole crypto verse could disappear tomorrow (yes, it’s unlikely) if a couple of switches go off in China, where most mining in the world is made.

That being said, it can also happen that cryptocurrencies do find their way into the mainstream economy and become an essential agent with all the same uses that fiat money still has. The cryptocurrency market is at a crossroads, and we won’t know what happened until it’s already too late.

So what to do? First and foremost, you must do your own research. Find out each project’s strengths and trading histories, there are plenty of tools for that. Then make an investment plan and follow it through, don’t let your guts get the best of your head even (especially) when things are looking exceedingly sweet.

Also, diversification matters. Yes, Bitcoin is king. It will remain king. But you make a profit by buying low and selling high, and while that is still possible with BTC (and it will be possible many times again), if you’re going to hit the BTC jackpot, you’ll need to get your timing just right. And that is incredibly difficult.

Last but not least, have your fun as a crypto investor. But always remember that you should only get in with money you can afford to lose.

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.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.