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LoveHearts token migrating to Tron TRC20 technology

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The TRC20 technology is one of two Tron-based cryptocurrency technologies (TRC10 being the other one) that any Tron community member can use to issue his/her very own cryptocurrency or ICO, much in the same way in which Ethereum also allows almost anybody to create a new coin. Even Tronix, which is now independent, started life as an Ethereum-based coin.

Yesterday LoveHearts, a very particular cryptocurrency, disappeared from all decentralized cryptocurrency exchanges because it started the process of migrating from its current technology to Tron’s TRC20. So not to worry, the coin is still there, and it will resume trading as soon as the migration is completed, but you won’t find it in the market for now.

https://twitter.com/LoveHeartsToken/status/1082638587441627136

It’s a digital asset that you can send in a Twitter or Telegram message to anyone you want. “Sending LoveHearts shows you really care” according to the coin’s website.

The project calls its users the “Heart Army” and it encourages them to send some tokens in Twitter instead of just giving likes in Twitter.

You may think this is cheesy at first, but it actually has a use case. LoveHearts has a strategic partnership with HummingPay.io (a remittance service that has also partnered up with Tron), so those LoveHeart tokens can indeed be turned into actual fiat money.

Also, there is the LoveHearts Lounge. It will be an online shop in which you can trade your tokens for goods and services. It will all start with a British sweet manufacturer that is very well known for its involvement in charities and charitable causes. That partnership is supposedly already in the bag, and more agreements are expected to follow soon.

The digital asset’s current supply is of 2 billion tokens after several token burns have taken place.

The TRC20 migration means that LoveHearts will join the Tron ecosystem in full so you’ll be able to trade it at Tron’s decentralized exchange for Tronix (TRX) tokens or for any other of the Tron-based tokens available. That, in turn, will enable you to join many of the other Tron-based projects and websites in which you will be able to do lots of things like playing online games or to gamble online at fair odds.

LoveHearts has been around since October 2018, and it’s been very active since then supporting some charitable causes. It became listed at two exchanges this month, so now it has a price determined by supply and demand.

Further plans for the project include a 60 million token donation to a charitable cause next month, and to keep selling tokens for the next two months until it reaches a 5 million TRX soft cap.

It currently has 130240 users, with 1,131,879,563 tokens in circulation. The total number of coins is 100 billion, but 80% of them are frozen and shall remain so until next year. The available supply is of about 2 billion because 18 billion coins have been burned so far.

It’s anybody’s guess how LoveHearts will do in the cryptosphere. It’s a bit like hallmark cards turned cryptocurrencies, but as long as it’s associated with the Tron token technology, it will be a useful asset for sure.

Image courtesy of PixaBay.

The Tron based IGG token gets withdrawn from Tronscan DEX

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Intergalactic Gaming Gold (IGG) announced earlier that its Tron-based token has been officially withdrawn from Tronscan’s decentralized cryptocurrency exchange. This move follows the need to migrate the token from TRC-10 technology to TRC-20 (both are based on Tron’s protocols).

The IGG token is currently TRC-10 and it’s been traded on the Bancor protocol based decentralized exchange for more than a month. That exchange tends to be a little volatile, which is something the project wants to avoid.

IGG is in alpha stage for its testnet v1.0, which is quite advanced, and the next step in the way is to turn IGG into a TRC-20 token. Said token will be listed on TRXMarket which is an Order Book style kind of thing. The TRXMarket listing costs nothing but it has the advantage to make the token’s economics a lot more liquid.

So what’s the difference between a TRC-10 and a TRC-20 token, I hear you ask? Well, it’s all about flexibility and functionality. TRC-10 tokens are not that flexible nor functional, while TRC-20 tokens are standard resources in the Tron blockchain for smart contracts and they can be implemented via de Tron Virtual Machine (TVM).

Those features are essential if IGG’s vision for a tokenized standard in the online gaming industry is going to work at all. The token is meant to satisfy several use cases, and in most of them, being able to comply with a smart contract between platform users is crucial.

This is a pivotal time in IGG’s journey, and the project feels this is the moment to affect the migration towards a TRC-20. As mentioned above, that will enable the token to be deployed in smart contracts for users (which in this case are players). The players will be able to establish teams on the Tron blockchain quickly, instead of migrating once the teams are settled. And it will also allow for a freeze feature, among many others.

Besides improved functionality and use cases, the migration gives the IG project the opportunity to do a little marketing by rebranding the token that makes the IGGalaxy move. There’s a list of potential names at the project’s website for community members to cast a vote and suggest what the new token’s name should be.

The new name is already chosen and if your entry wins you’ll get a million tokens. You can join the competition by sending an email to competitions@iggalaxy.com

https://twitter.com/IG_Galaxy/status/1080548626802319367

The developing team is currently working on a script that will enable Glacticians to send their IGG to a wallet that will send them the new TRC-20 tokens back, on a 1:1 basis. The new token will be ready and functional in about 24 hours and thus will the swap process begin.

It’s important for users to know that the SR rewards and Loyalty rewards for IGG will be suspended until further notice. TRX rewards will, however, remain functional. But the suspended rewards will be backdated and honored once the new token is ready.

If you want to get official instructions for swapping tokens, just visit the project’s website, where you’ll find all the information you need. In the meantime, we suggest you be patient and prudent.

Image courtesy of PixaBay.

Better Tron DEX, better trading: GOC is online!

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There’s a new cryptocurrency exchange platform specialized in TRC20 tokens (which are based on Tron’s blockchain). It’s called GOC, and it’s already online. It’s the first Tron-based decentralized exchange supporting TRC10 and TRC20 tokens.

The new platform launched on the 3rd of this month. It will allow users to exchange Tronix-based tokens paired against TRX. It also allows users to create their own tokens. This means that when TRC20 initial coin offerings become a thing, as ETH20 ICOs became in the Ethereum network, GOC will probably be the place that will hold them.

Tronscan, which is a website that functions as something of a control panel for Tron accounts, included a decentralized exchange system for the same kind of tokens in the beginning but those tokens have been slowly moving from Tronscan to GOC, so it’s expected that the latter will end up being the “official” Tron-token platform sooner rather than later.

The new website is very friendly but it charges transaction fees (0.2%), and that could open the way for the new Tron-based trading platform to appear in the market in the next few months.  On the other hand, GOC has no limits on the number of tokens you can trade in any given session, which is an advantage and allows for all these new tokens to be traded in higher values.

Some airdrops are on the menu, and they will start happening soon. Stay tuned in our website to find out the correct dates.

GOC is already listed by Cobo Wallet which is a mobile wallet designed to manage cryptocurrencies. It serves both institutional and retail clients. MathWallet is also supporting the DEX. It supports the TronLink plugin wallet just as Tronscan, which is probably the easier wallet to use since it’s just a free chrome extension you can use in any operating system to keep track of your TRX and other TRC20 tokens.

This development is important for Tron in particular and the cryptosphere in general because it’s another direct challenge to one of Ethereum’s strengths. As you probably know, Tron started as a project running on Ethereum’s network, where it stayed for half a year until it developed and launched its new main net.

Ever since it became an independent blockchain, it’s proven to perform way better than Ethereum in terms of speed, and also way cheaper because it doesn’t charge for gas (you do have to pay for energy and bandwidth, but that’s another story, and they’re relatively cheap). This has created the perception that Tron will end up being too attractive to current Ethereum users and developers to ignore, and that many of them will migrate their projects en masse. Justin Sun in person has expressed his interest to welcome the ETH refugees into Tron.

And now, with the new GOC online, that seems only more likely.

It’s an exciting time to watch Tron grow and develop as new things, and project come online every month, the platform keeps expanding and, slowly but surely, new decentralized applications are starting to appear in Tron’s network.

Last but not least, the token’s value is growing when compared to the rest of the market. Tron is already 10th by market capitalization, and it’s been quite solid as the bearish run has protracted for almost a year now. It overtook Cardano and Monero to reach the tenth spot, and its capitalization was as high as 1.01 billion only a few days ago.

Image courtesy of Pixabay.