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TRON (TRX) Versus the Crypto-Verse: Confidence in Overcoming the Lead

The much believed cemented position that the leading cryptocurrencies have taken could be set on question with the new wave of coins making tremendous development. One of the strongest competitor for future market overwhelming could be the 11th largest crypto-platform TRON (with its token TRX) in the ecosystem.

TRON’s Justin Sun Target

In a very recent tweet, co-founder of TRON platform – Justin Sun made his team’s competitive nature very clear with declaring that the platform is on its way to fly past Ethereum. Ethereum (ETH) the second in lead by market capitalization.

Tron (TRX) announced its independence launching its MainNet from Ethereum at about the same time as EOS. Both cryptos promised to revolutionize various aspects of the industry, attracting the public with a promise to decentralize virtually anything.

3 Reasons Why Tron (Trx) Had A Better Mainnet Launch Than EOS

Following up, according to its roadmap not so long after the team launched their Tron Virtual Machine TVM. It works parallel with the EVM – Ethereum Virtual Machine as developers can set their work from Ethereum’s platform to TVM.

Tron is a blockchain that seeks to decentralize web content. Since its inception until some months ago when the mainnet was announced, the tokens known as Tronix were ERC20 smart contracts running on the Ethereum network.

In the tweet, Mr. Sun says that Tron (TRX) is “80 times faster than Ethereum” (ETH);

This is not the only time when the founder focused his platform’s marketing via pushing down Ethereum. On Jun 1st, 2018 – Mr. Sun continued his comparison:

Within this graph, it is important to note that although the TPS shown are much higher than the current figures, speed has always been one of Tron’s strengths when it comes to justifying its value over Ethereum.

TRON Latest

TronWallet application for the Android system has been announced by TRON Foundation via the twitter page. The app is already on Google Play, while for iOS it is coming later on.

Some of the features posted on the declaration Medium Blog Post:

  • No fees — Yes, that’s right, sending and receiving TRX is free.
  • Fully decentralized p2p wallet — no login, no signup
  • All TRON network operations supported (except ‘create token’)
  • Push notifications — get notified immediately once transactions are processed
  • Easy to use — a lot of detail went into making the user experience very simple (and fast!).

TRON & Pornhub – The rumor on Pornhub accepting Tron’s TRX has been circulating the crypto-community for quite some time now. Keeping in mind the 90 million visitors per day on the adult-site, any of the users can use TRX as payment.

Bitnovo – You can now buy TRX on Bitnovo.com or in over 20,000 stores in Spain and Italy. The key word here is twenty thousand stores. There lies tremendous possibilities for TRX with access to such a large distribution network.

Tron (TRX) Future Plans For The WWW – Complete Decentralization

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Bank of America Now Considers Crypto a Business Risk

Bank of America has cited cryptocurrency as a material risk to its business, public records show.

The technology could hamper the second-largest U.S. bank’s ability to comply with anti-money-laundering regulations, pose a competitive threat and force the company to spend more money to keep up with the times, the bank said in its annual filing with the Securities and Exchange Commission.

“Cryptocurrency” is mentioned three times in the annual report, all in the section on risk factors.

The first reference is in the discussion of AML, know-your-customer, sanctions and foreign corruption laws in the U.S.

“Emerging technologies, such as cryptocurrencies, could limit our ability to track the movement of funds,” the filing says, explaining further:

“Our ability to comply with these laws is dependent on our ability to improve detection and reporting capabilities and reduce variation in control processes and oversight accountability.”

Competitive threat

Yet perhaps more notable is the acknowledgement that cryptocurrency poses competitive risks to the bank.

In a passage about new competitors in the financial services industry, Bank of America expressed caution about how client preferences could lead them to use products like cryptocurrencies – for which, as it stands, the bank does not offer any support.

Bank of America notes in the filing:

“Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.”

Indeed, the mention of cryptocurrency as an outside risk is taken one step further, with Bank of America stating that rising adoption would result in it having to dedicate more resources – that is, spending money – to stay competitive.

“[T]he widespread adoption of new technologies, including internet services, cryptocurrencies and payment systems, could require substantial expenditures to modify or adapt our existing products and services,” the bank said.

Bank of America is one of several U.S. banks that recently banned credit card purchases of cryptocurrency. The bank did not restrict crypto purchases using debit cards, however.

Based in Charlotte, N.C., Bank of America is also a prolific filer of patent applications for blockchain technology ideas.

Image via Shutterstock

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Ripple Global Center Stage and it is Growing More

Out of the cryptocurrencies that made it to stand out, Ripple [XRP] had one of the best performing 2017. The on-point real time gross settlement system and transaction structure being one of the three largest virtual currencies by market cap has just spread its branches even deeper globally with an office opened in Singapore.

Together with its location in India, the so called “Ripple Transaction Protocol” has stepped up its competition with the two-next biggest cryptocurrencies – Bitcoin and Ethereum.

As Navin Gupta, the leader of Ripple operations in the country, states: 

India is the largest recipient of corporate and retail remittances worldwide, totaling close to $71bn…Ripple’s instant, cost-effective blockchain-powered payments can be a transformative component of India’s economy, helping bring the many who have limited access to payments services into the fold.”

What is Ripple target and what makes Ripple so unique?

In case you have sent money overseas, around the globe and so on you were delivered a SWIFT code which is a entity with a monopoly on border transfers – in 200 countries, with more than 11.000 financial institutions forming its branches.

However, Ripple while working together with financial services, banks and institutions wants to take down SWIFT and disrupt is functionality. Major benefit is planned to be implanted for the users for cheaper and faster transaction – showcased around 4 seconds.

“Ripple provides one frictionless experience to send money globally using the power of blockchain. With RippleNet, financial institutions can process their customers’ payments anywhere in the world, instantly, reliably and cost effectively using just one API. ” – Ripple CTO Stefan Thomas

When it comes to the number of transaction completed in the same time, the system can handle 1,500 transactions per second in the region.

When Bitcoin cash took stage, Ripple lost the third place due to BCH popularity after it sprung from Bitcoins network. After that the China Crackdown on the market with its ban and regulations, did tank the XRP price against the USD majorly with the same effect for the other top 10 cryptocurrencies too. However, now on its stable recovery road it has retaken the 3rd place by market cap with $7.8 bln and is near the major $0.2000 mark.

The ‘base expansion’ and negotiation is what runs the engine for Ripple as its an enterprise in the game, which market development strategy cannot be imitated by other coins just because not many are structured as a company having control where the tokens are lead.

The decision to put down $55 bn XRP in escrow by the end of 2017 will ease investor unease regarding unpredictability and shall assist in its share growth while showing Ripple’s determination to make the blockchain more secure and decentralized.

Even that the mainstream factor has hit Bitcoin majorly and it is very difficult to say that Ripple could overtake, a bright future and a competition non-the less will be present to be seen.


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