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TRON’s Quantum Leap: 2023 Q2 Report Unveils Astonishing 300% Growth

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TRON (TRX) has showcased re­markable growth in key metrics during the­ second quarter of 2023, propelle­d by significant advancements within its ecosyste­m. The successful launch of the BitTorre­nt bridge, along with the impleme­ntation of Stake 2.0 and integration of TRX liquid staking and the de­centralized resource­ marketplace, have playe­d a pivotal role in driving the network’s impre­ssive surge.

Positive Impact On Revenue: TRON TRX’s Growth

According to a report publishe­d by Messari, TRON experie­nced significant growth in daily average active­ accounts, new accounts, and transactions. These numbe­rs saw respective incre­ases of 14%, 13.4%, and 28.9%. Notably, these figure­s correspond with the impleme­ntation of key developme­nts such as the BitTorrent bridge and Stake­ 2.0.

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The ne­twork’s increased activity had a positive impact on re­venue, resulting in a note­worthy 11.6% growth in TRX (22.2% in USD terms) from the previous quarte­r. As a direct result of this reve­nue increase, a substantial amount of TRX was burne­d, providing support for its value even whe­n other major L1 tokens expe­rienced a stagnant or declining marke­t.

In the se­cond quarter, TRX demonstrated supe­rior performance compared to most othe­r L1 tokens. Its market cap increase­d by 14.7%, while other major L1s expe­rienced an average­ decline of 23%. This remarkable­ achievement can be­ attributed to the network’s de­dicated efforts in expanding its de­centralized finance (De­Fi) sector.

The inte­gration of TRX liquid staking and the resource marke­tplace successfully enhance­d user liquidity and access to free­ resources, there­by increasing the network’s appe­al to DeFi users and deve­lopers.

Furthermore­, TRON has continuously enhanced its network functionality through the­ introducing Stake 2.0 and subsequent update­s. Stake 2.0, a superior staking model, not only improve­s resource manageme­nt but also offers users more fle­xibility when it comes to unstaking options. These­ advancements have significantly bolste­red engageme­nt within the ecosystem.

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Despite its progress, TRON faced challenges from regulatory scrutiny. The Securities and Exchange Commission (SEC) alleged unregistered sales of crypto asset securities on several exchanges, including TRX. However, TRX finished the quarter with a 14.7% increase in value, reaching a market cap of $6.9 billion.

Looking ahead, TRON’s roadmap remains focused on technical integrations, such as Apollo, Star Trek, and Eternity, aimed at enhancing network functionality. The team also continues to invest in ecosystem development to attract more developers, applications, and users.

However, TRON’s Q2 performance demonstrated remarkable growth in various aspects of its ecosystem. Its ability to adapt and innovate will be crucial for its long-term success as the cryptocurrency market evolves.

Related Reading | Crypto Expert Projects Shiba Inu’s Surge And XRP’s Ascent Amid Bull Run 

Steemit Moving to Tron Could Mean a Different Ballgame for BitTorrent

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On 14th February, Justin Sun the CEO of Tron and BitTorrent announced a strategic partnership revealing Steemit’s migration to the Tron ecosystem. According to the alliance, Steem will be migrating from its proprietary blockchain to Tron’s, indicating how the $Steem tokens will also be a part of the TRX ecosystem. In addition to this, decentralized applications [dApps] based on its blockchain will also be moving to the Tron blockchain. 

Capture

Launched in 2016, Steemit is a blockchain-based blogging and social media site. It follows a similar incentivization system to Reddit — rewards for curating and publishing quality content. As per the stats showed by Similar Web, Steemit has a traffic of over 7.80 million; the biggest player in the cryptospace in terms of providing an alternative income model to content creators. 

Technical Marketing

Tron has always lived up to its reputation for brilliant marketing. Right from John McAfee’s advocacy in 2017, the 1 billion TRX [ERC20-based] token coin burn followed by the acquisition of BitTorrent in 2018 and the build-up for a 5 million dollar auction lunch with Warren Buffet – they’ve mastered the art.

Nevertheless, questions around the technicality of its biggest acquisition – BitTorrent has bothered the tech-side of the crypto community for a while now. The former Chief Strategy Officer at BitTorrent, Simon Morris, who nearly worked for a decade on the software stated that there’s literally  “no way” Tron’s blockchain could handle the transaction volume needed to tokenize BitTorrent. 

Additionally, he even said that “it’s [Tron] basically a marketing machine layered on a very thin veneer of technology”.

To break it down, BitTorrent works on the simplest but exceptional P2P sharing mechanism. The seeders upload the content, and the leechers download the content on the basic tit-for-tat principle wherein, the more files one shares, the faster the download gets. Content is broken into pieces and everyone broadcasts the pieces they have, boosting the speed of distribution.

Under Justin Sun, the model works on an additional incentive structure with a monetary value measured as BitTorrent tokens [BTT]. It was said that BTT would allow BitTorrent clients to bid and earn, along with upstreaming their bandwidth options that can be used to purchase content, tip and crowdfund content creation.

Don’t neglect – Compatibility, and Security

Questions raise when practicality comes in the picture. For instance, u/bloodmoonslo a Redditor created a post on Tronix addressing the BTT incentive flaw. 

His concerns were that uTorrent had similar properties to an ISP throttling [intentional slowing/speeding of bandwidth]. The download speeds BitTorrent possesses are:

  1. A base unboosted speed
  2. A BTT based boost [includes spending of monetary value for download speed]
  3. Original download potential through another torrent client [that doesn’t throttle]

btt
Image source: Reddit

As observed in the above image, uTorrent and QbiTorrent are running with the same VPN & Proxy settings. Both the clients are set with no connection limits and data usage restrictions on a 100mps hardwired connection.

The downloading speed of QbiTorrent is higher than BTT boosted torrent speed, concluding that paying up to download would still make no difference. Although possibilities are that uTorrent boosted onboards more seeders and becomes faster than other client channels.

But it’s also important to be aware that the downloading of this file started with uTorrent unboosted,  followed by uTorrent boosted and another client [QbiTorrent]. And according to the mechanism, this, in turn, could’ve created a slower download speed since in the first download the least amount of peers were connected. 

Indicating that a better example would be to run three computers at once, downloading the same file. Funny enough, even this would possibly be flawed as the three would be downloading the file amongst each other as well.

According to the research paper “An Empirical Study of Seeders in BitTorrent” established back in 2006, significant data was recorded.

The case study shows that as the download rate of a particular file increased, the rate of its seeding decreased; due to a relative increase in the number of temporary seeders in the swarm caused by users leaving their clients unattended for longer periods.

In layman terms, the seeding of a particular file decreases as its download increases caused by the increase in the number of temporary seeders generated through unprotected clients. How hackers can use your computational power to mine cryptocurrencies if your device is left unsecured? The same way temporary seeders use unattended clients to seed files and as rewards get better downloading bandwidth. 

Bringing us to the point that possibilities of the same in the current ecosystem would risk the monetary value [BTT] people hold as higher bandwidth is not the only reward in the ecosystem.

In an era where websites such as Netflix, Hulu, Amazon Prime where one can watch content without any hassle the possibilities of people downloading pirated content from BitTorrent might not be in fashion anymore at least for the entertainment sector. 

Nevertheless, BitTorrents 150M userbase clubbed with Tron’s 22M and Steemit’s 1M do not only have the potential to disrupt the existing media segments but also to revolutionize its production. 

With Steemit acting as a content sharing platform and BitTorrent as a file-sharing platform, the quality of media entering the Tron ecosystem is unimaginable. Steemit’s information quality, self-curated data, and regional content complimented with BitTorrent’s uncensored media, unlicensed usage and free software, gaming, and application base could break the norms.

The vision of tokenizing the world’s largest decentralized file-sharing platform – BitTorrent collaborated with Steemit’s current progress might support Tron’s vision to build a free, global digital content entertainment system with distributed storage technology, for easy and cost-effective sharing of digital content.

Provided the team changes its priorities from Marketing > to Technology.

 

 

 

Disclaimer note: This article is based on the writer’s opinions/research and does not necessarily represent the views and opinions of Tron Weekly. 

 

 

 

 

 

 

 

 

 

 

 

Justin Sun Speaks About Latest DLive Partnership and its Path Towards a ‘Blockchain World Revolution’

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The Tron Foundation and Justin Sun have been in the news multiple times for umpteen releases from the company’s roster. In a recent video uploaded by the Tron Foundation, the Chief Executive Officer [CEO] of the company spoke about its latest partner DLive and how it aims to transform the entire blockchain industry.

Sun was confident that the partnership with DLive was the start of creating a new and improved decentralized ecosystem with added benefits for users and token holders. The CEO claimed that any user or content creator can come and create on the platform with the added advantage of being able to control their uploads and belongings.

DLive had partnered with Tron on December 30 with the blockchain-based content sharing platform aiming to utilize the features provided by Tron’s BitTorrent. An official statement from the company had said:

” DLive and its blockchain development team will collaborate with the BitTorrent team to bolster its products and services. BLive, the live streaming platform introduced by BitTorrent in early 2019, will be merged into the DLive platform, and their team will join the DLive team. DLive will begin utilizing the BitTorrent File-Sharing System (BTFS), a distributed file sharing and storage system, to allow all content living on DLive to truly move towards decentralization.”

The Tron official added that content on the platform cannot be tampered by anyone, not even the CEO himself. According to him, the proposed platform will be in direct competition with honchos such as YouTube, Periscope and Facebook. The services are built to be top-notch with the focus always being on creating a system where data and content can be streamed seamlessly and quickly.

The company also has plans to rope in several cryptocurrency influencers to spread the message of decentralization across sectors and that work will begin in the first quarter of 2019. Sources close to the company have stated that there will be no compromise on the storage level and the new year is intended to provide a more clear cut focus on what is important.

Sun also pointed out the shifts in the number of Android clients in the BitTorrent department, clocking an average of 10 million users monthly. The partnership between DLive and Tron further promised a “best real-world example of what is possible when you combine blockchain and digital media”.

BitTorrent Ecosystem Gets Another Member in DLive as The Tron Family Grows

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The adoption of new services by blockchain companies has been seen as a mark of increased industry growth. This mantra was again put to action when DLive, the popular blockchain-based content sharing platform announced that they would be joining the BitTorrent ecosystem. DLive’s entry will also mean that the organization will begin its migration to the Tron blockchain.

The content-sharing platform will use the much-lauded BitTorrent File-Sharing System [BTFS] to ensure that the content uploaded on DLive moves to a more secure and decentralized system.

The partnership will also allow BitTorrent’s user base [which amounts to more than 100 million] to gain access to DLive’s live streaming offerings. An official press release from DLive said:

“Starting today, DLive and its blockchain development team will collaborate with the BitTorrent team to bolster its products and services. BLive, the live streaming platform introduced by BitTorrent in early 2019, will be merged into the DLive platform, and their team will join the DLive team. DLive has grown in strides over the past 15 months. The streaming platform boasts a passionate community, a niche product-market fit, and strong adoption has grown to over five million monthly active users.”

Tron Foundation CEO Justin Sun had also heaped praises on DLive by calling it one of the best real-world examples of what is possible when an organization combines blockchain and digital media. The CEO was confided that with the DLive-BitTorrent collaboration, content creators will get a proper chance at launching their stuff. DLive had first migrated to the Lino blockchain in September 2019 and their last major update was introducing the IDA-Lemon as the platform currency on the Lino blockchain.

Dlive
Credit:dlive.tv

Charles Wayn, the CEO of DLive further opined that Tron’sn advancements in the digital asset space go hand in hand with DLive’s goal of empowering creators and rewarding communities with amplifying their capabilities. The organization has revealed that it will begin to offer rewards and benefit points to already existing users to move from Lino to the BitTorrent ecosystem. According to DLive officials, once all users transition from the Lino blockchain, it will no longer be used.

Despite the developments on the Tron blockchain, the cryptocurrency has still not witnessed marked upkeep in its price with the bear market not doing it any favours. At press time, Tron held a value of $0.013 and a total market cap of $890.8 million, a far cry from its range in the billions. The 12th placed cryptocurrency held a 24-hour market volume of $1.15 billion.

Tron’s BitTorrent goes all out after CoinPayments partnership

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Tron and its legacy of partnerships have always made an impact on the cryptocurrency industry, and that has been an idea also followed by its subsidiaries like BitTorrent. The world’s largest decentralized platform recently revealed that they had created a new partnership recently, tweeting:

“We have partnered up with @Coinpayments for a few months now to allow our users to purchase #BitTorrent and @utorrent products with $BTT. Thanks for featuring us on your blog!”

The limited partnership was used to create a more wholesome and inclusive environment for cryptocurrency trade with the aforementioned tokens acting as a support system for purchases. Inc.com had stated:

“One of the notable developments taking place in the cryptocurrency field is TRONs recent purchase of software company BitTorrent. Together, they share a vision of a decentralized, barrier-free internet.”

The BTT token had gone through several phases of adoption since its inception, and using it as a purchase medium is aimed to increase its utility and volume. The 55th ranked cryptocurrency was currently trading for $0.00045, with a total market cap of $96.288 million. The Tron acquired cryptocurrency also held an $87.710 million 24-hour market volume.

The BitTorrent community was riled up after the announcement with many users claiming that the collaboration would only give a boost to the “internet without borders.” The official CoinPayments blog was all praise for BTT with an excerpt from their recent publication adding:

“The goal of all this was to begin incentivizing users of the BitTorrent platform by paying them in tokens when they seed their files to other users. There had always been an issue with leechers (users who download but do not share files), and now there appears to be a solution to that through cryptocurrency with their product called BitTorrent Speed.”

The BitTorrent partnership has come at a time when Tron has also been enjoying developments in other areas. The Tron blockchain had sent ripples through the market when it was announced that Tron would be available on the Samsung Blockchain Keystore. This was told to the vast number of TRX holders by Tron CEO and Founder Justin Sun.

Disclaimer: The presented information is subjected to market conditions 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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Is TRON Scam? Justin Sun Responds to “Police Raid Beijing Buzz”

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While the buzz of billion-dollar Ponzi scheme is still hot in the crypto market, users on social media spread out yet another strange topic against TRON and Justin Sun.

Is Tron a Scam?

Today, on July 08, 2019, few social media users shared tweets with video clips, claiming that police officers have raided TRON (TRX)’s Beijing offices. The clip showed a crowd of angry people shouting at the office, yelling things like “Tron is a scam.” There wasn’t the only clip shared on Twitter; however, many other Twitter users shared different clips with their own views.

https://twitter.com/haydenotto_/status/1148174274374455297

While few believe it was a police raid – on the other hand, few others managed to calm down angry users on social media, claiming that “it wasn’t the police raid at all – instead, police were protecting the TRON office from angry mobs who lost money in a fake TRX scheme.

Not a Raid, Not at All!

However, the police protecting Tron office turned out to be a piece of reliable news when TRON officially shared a blog post, claiming that the law enforcement officers were invited to protect TRON’s office.

The blog explains that those circulated pictures and videos were actually captured at the Beijing research and development center of Raybo technology, which is a partner of TRON in mainland China. It further reads that;

Pictures and video circulating on the internet show scenes of the incident and the police response that removed them and secured the office.

Beside official post, CEO Justin Sun also took to Twitter and wrote “stop spreading fake news and pictures”;

It’s worth to remind that the pyramid scheme “Wave Field Super Community” caught last week when victims shouted at their loss of $30 million, suffered by investing in this scheme.

Reportedly, the scheme was launched in January this year and suspended their work at the end of June. This scheme allegedly represented TRON and called itself as “super representative” of Tron or one of the 27 nodes of the platform. While the scheme represented its fake investment plan by using TRON’s name, investors actually invested huge fund and blaming Justin Sun for not taking any action against it.

Concerning these Ponzi schemes, Sun finally broke out his silence on July 05, 2019 and added that “we will never ask you to send money. Be careful and hodl your $TRX/BTT.”

As for now, it’s clear that police wasn’t at Tron’s office to raid instead protect its office from the victims that went to TRON’s office to express resentment about Sun and company’s silence despite allegedly knowing about Ponzi scheme operating under a similar name. Remember, they are only ‘alledged’ to be knowing about the Ponzi, there is no confirmation. The victims themselves alleged the conspiracy about Tron.

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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Live AMA with TRON CEO on Monday has got TRX community excited

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Tron has been firing on all cylinders with regards to its PR efforts this year; in fact, right from its birth. The fledgling cryptocurrency network has been casting its net far and wide for partnerships, and opportunities to expand its influence since gaining independence from Ethereum over a year ago.

The biggest news in the history surrounding the company was the acquisition of BitTorrent, and the buzz in the crypto community around the acquisition was nothing short than electric. The acquisition is a perfect symbiosis between two decentralized platforms and promises a new frontier for the entire cryptocurrency world.

However, the acquisition of BitTorrent came with a host of problems. One of them was the inevitable time it would take to fully absorb the BitTorrent foundation into Tron and to find the best way to leverage the assets that came with it.

Every announcement that came from Justin Sun was jeered simply because not much had been announced with regards to BitTorrent. The people who had cheered Justin Sun’s ambitious entrance into the cryptocurrency turned on him with every delay that happened. Calmer heads mentioned that any acquisition of that size was something completely new in the cryptocurrency space and that patience would yield great rewards.

However, patience is in short supply among cryptocurrency enthusiasts due to the breakneck pace at which blockchain and cryptocurrency adapt, evolve and develop. New milestones are a frequent staple of the space and if nothing is happening, then it is quickly forgotten.

BitTorrent Speed announced recently and AMA follows

However, those who waited have had their patience amply rewarded. The first thing to come out of the Tron and BitTorrent kitchen is BitTorrent speed – a decentralized filesystem. It is based on IPFS (Inter-Planetary File System) that is an open-source online filesystem that can be used to make a decentralized web-based hard drive.

BitTorrent will provide a massive user base and experience of distributed computing and file sharing. Tron will provide a backend for payments – and a robust virtual machine that will allow apps to be developed for BitTorrent Speed.

The possibilities are endless and many in the community have been wondering how deep the relationship between Tron and BitTorrent Speed will really be. Have they been sounding out any media partnerships? There are a whole host of burning questions that are on the minds of people who had stuck with Tron and Justin Sun from the beginning and they will all get their answers very soon.

The public loving CEO and his VP of product development will be answering public questions on Monday, 8th July, and it is expected to be a record-breaker with regards to AMAs in the cryptocurrency sphere.

Many questions will surely be around the lunch with Warren Buffet and if that will lead to any new partnerships for Tron and BitTorrent, or if it is just another public relations exercise that will take time away from the more important (too many) businesses of getting Tron to leverage the BitTorrent userbase.

More information regarding the AMA, including exact times, can be found below in the tweet below:

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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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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Tron (TRX) CEO unveils epic Buy Back program on network’s Independence Day

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Today is an essential day for TRON (TRX), and its entire ecosystem. On this day, one year ago, TRON managed to successfully separate itself from Ethereum (ETH) blockchain, on which it was initially developed. On this day, the coin became independent, and one of the most significant forces in the crypto space around the world.

To honor this day, reflect on what happened in the past year, and announce a few plans for the future — TRON CEO, Justin Sun, held a live stream in which he addressed the TRON community, and revealed what is in store for the future.

https://www.youtube.com/watch?v=YdFsa80fAqQ

Justin Sun announces the Buy Back program

In the year following the launch of TRON’s MainNet and token migration, the project made countless achievements, big or small. Those who have been following the news regarding the crypto market are likely to remember how often the project made headlines in the past 12 months. This is seemingly not going to change anytime soon.

One of Justin Sun’s most significant announcements during the recent live stream was the TRON Buy Back program, which will see the recovery of TRX. The program is set to last for a year, and it has already started.

Sun called it the ‘industry’s largest’ Buy Back program, which will ‘drive the community activities and market stability.’ It will include buying back TRX from the secondary markets in batches. Sun also stated that the TRON Foundation would increase TRX holding to express its confidence in the coin.

https://twitter.com/justinsuntron/status/1143396084816814085

The move certainly shows confidence in the coin and its future, and as such, it might even further drive the coin’s price. TRON has already seen significant advances in the past few days after it made a successful comeback to the list of top 10 largest cryptocurrencies by market cap.

The coin was pushed out of the top 10 list for the more significant part of the year, and earlier this year, Justin Sun stated that TRX would be within the top 10 and BTT within the top 30. Many have taken this announcement with a grain of salt, as the market conditions did not promise such development at the time.

However, the coins performed exactly as Sun predicted, with BTT even making its advance earlier than the prediction stated. At the time of writing, BTT sits at 35th place on the list of largest cryptos, while TRX holds the 10th spot again.

While significant, this is far from being the coin’s only, or even its most prominent achievement in the past year.

TRON achievements in 2018/2019

The TRON ecosystem started its evolution on June 25th, 2018. Since then, it made accountable moves that impacted not only the coin but the entire crypto space. The first most significant move was the acquisition of BitTorrent — a mysterious move at the time, as nobody knew what Justin Sun was planning to do with it. In months that followed, TRON announced its Project Atlas, and the reasons for acquiring BitTorrent became clearer. This also led to the launch of BTT in early 2019.

Another significant achievement is that TRON’s network exceeded 3 million individual accounts. This is a massive growth in a single year, and it certainly shows the amount of interest in the cryptocurrency and its ecosystem. TRON also hit numerous milestones, and even set up new records, breaking the old ones, most of which were held by Ethereum. Its dApp development surged, and the number of smart contracts on the TRON network is growing steadily.

TRON is also responsible for significant charitable donations. Its CEO, Justin Sun, donated large amounts to charities himself. It is estimated that Sun and TRON donated more than $9 million, in total. TRON also entered some significant partnerships, including the ones with Opera, Binance, numerous exchanges, and more.

All of this is still only a handful of the project’s most substantial achievements, and there are countless others, all of which took place in only 12 months. This is truly an essential day for TRON, and in extent — for the future of the internet.

In his live stream, Justin Sun ended his official statement by saying that he is excited to see where TRON will be when its next Independence Day comes around. Considering TRON’s rapid advancement, he is certainly not the only one who wonders.

In the end, there is no doubt that apart from the strides Tron made itself, some projects and teams played a vital role in the success of Sun-led blockchain so far. Some of them include Ante, Dice, ACE, TronEurope and of course, Tron Weekly.

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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BitTorrent (BTT) creator steps in as Chia Network CEO as Ryan Singer departs

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Chia network is on the road to creating a blockchain that is based on the proofs of space as well time to make crypto that is less wasteful, more secure, and more decentralized. However, it now seems that everything will happen under a new CEO.

Pioneer of Decentralized Internet takes over

BitTorrent creator Bram Cohen is the new CEO of Chia Network. The creator of the P2P BitTorrent protocol takes over from co-founder Ryan Singer, who stepped down from the company stating that he needs to focus on family priorities.

Cohen has been around since August 2017 when he left BitTorrent, and now he’s taking the wheel at Chia. Unlike other cryptos which are mined, the networks’ tokens are generated via “farming,” which reflects its more ecological approach.

Moreover, they claim to be similar to bitcoin with the only difference being a resource not computing power but rather disk space, meaning proofs of space replace bitcoins’ proofs of work; therefore, disk-space is the primary resource.

The Journey

Chia started testing the approach in October last year and has been running the optimization contest with the community as well as open-sourcing the best implementations. Its second contest began in April.

Subsequently, the network is funded by three leading investors; Naval Ravikant, Greylock Partners, and Andreessen Horowitz. Furthermore, thus far, the company has raised $3.4 million over one round in a seed round raised in March last year. Its cryptocurrency is ‘enterprise-grade’ and its farming instead of mining distinguishing it from the more energy intensive forms for securing crypto networks.

The Extent of Transition

Amid the reshuffle, Mitch Edwards, Chia’s CFO and general counsel will as well take on the existing business development relationships. Before joining Chia, Edwards served as Overstock.com acting CEO.

Moreover, he has also had an extensive career in technology that includes a stint in the same roles at Core Scientific and BitTorrent. Now, with the Cohen leading Chia, and given his record, the company should indeed be optimistic going forward, but as always, its only time that can tell.

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.