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PwC Partner: Central Banks Should Leave Cryptocurrency to Corporations

PwC Central Bank Cryptocurrency

The contention between the industry of cryptocurrency and banking institutions may have been furthered by an unlikely third party, with an even more unsuspecting alternative proposed as a substitute.

According to Pauline Adam Kalfon, a financial partner at PwC France, Central Banks should leave cryptocurrencies to corporations like Facebook and JPMorgan, as opposed to issuing their own digital asset. Kalfon cautions that institutions with as much political and economic sway would be wise to wait on the sideline before tokenizing fiat currencies themselves, and allow the emerging host of players such as Facebook test the waters first.

Kalfon does not rule out the potential for future monetary tokenization by Central Banks, with governments potentially re-issuing fiat currencies in the form of digital assets and cryptocurrencies–a move that has been proposed for inflation struck countries such as Venezuela. Instead, Kalfon says to observe the hurdles of transitioning assets to a digital equivalent, allowing cryptocurrency to become “battle-tested by corporations.”

By waiting, central banks can more effectively navigate the landscape of developing into cryptocurrency, potentially learning from the mistakes that JP Morgan & Co. are likely to encounter, and overall doing their best to avoid the negative consequences that could stem from governments adopting cryptocurrency en masse.

Included in her talk, Kalfon advised the Banque de France, in particular, to avoid testing fiat-to-cryptocurrencies before the rest, outlining that country’s economic landscape is even more precarious for such a transition. She explained,

“France’s central bank may not be the best entity to drive forward such a digital currency project, which would sit within the prerogatives of the European Central Bank, Kalfon added. Having said this, Banque de France could seize technological leadership by following European Central Bank guidance.

It is clear that a European-level project would be very complex and challenging governance-wise, requiring alignment and the political consensus of all relevant stakeholders from each Member State.”

In January 2018, the French minister of economy Bruno Le Maire warned his country about the dangers and speculative risks involved in cryptocurrency. However, by year’s end he had changed his tune to support the innovation of blockchain and the potential for crypto adoption in conjunction with better regulation.

Last month the French equivalent of the Securities & Exchange Commission echoed the comments of Le Maire and warned that cryptocurrency has the potential to disrupt the finance industry on a broad scale, necessitating the need for increased regulation.

However, the tune for both cryptocurrency and blockchain development in France appears to be in line with that growing across the globe, with French minister’s urging their government to adopt a proposal that would invest €500 million into blockchain development over the next three years.

The more interesting result of Kalfon’s remarks will be if Facebook and JP Morgan, among others, succeed in a large way in implementing digital assets on their platform. In such a situation, central banks may be even more compelled to consider the potential of issuing fiat through blockchain and digital currencies.

The post PwC Partner: Central Banks Should Leave Cryptocurrency to Corporations appeared first on Ethereum World News.

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JP Morgan Exec: More Partnership Than Competition Between Banks and Crypto

JP Morgan Cryptocurrency Banks

A JP Morgan Chase executive has put forth an interesting compromise between cryptocurrency and the banking framework–two industries that have long been put at odds.

Speaking in an interview with CNBC’s Squawk Box on Mar. 20, JP Morgan’s Global Head of eCommerce Solutions Ron Karpovich made the claim that there is “more partnership instead of competition” between existing financial establishments and what has often been viewed as a banking disruptive market in cryptocurrency.

Karpovich’s comments for collaboration between the two industries comes just a month after his bank announced the development of the JPM Coin, a blockchain-based stablecoin that will function on J.P. Morgan’s internal payment network for clients. While some analysts at the time made the comparison to the role of XRP in Ripple’s payment protocol, Binance Research subsequently dispelled that notion. Instead, Binance’s team pointed out that JPM Coin will be limited in scope and more than likely only available for the use of JP Morgan clients as opposed to inter-bank operability.

Nonetheless, Karpovich’s comments appear to give an indication of reaching across the aisle, with the executive contending that blockchain-based payments will increase the utility of JP Morgan transfers. However, he also goes on to claim that cryptocurrency innovators and entrepreneurs should avoid shunning the banking industry all together, and that they will have to rely upon banks to move funds.

Karpovich told CNBC,

“Ultimately behind the scenes, they [crypto innovators] are going to have to use a bank to move funds. There’s more partnership instead of competition in that space. When it comes to margins and capabilities — payments is never something that grows in margin, nobody wants to pay for a payment. That’s one of the hardest parts of this process: you have limited resources in the capability to sell, so you need highly efficient and large players.”

The JP Morgan executive stressed the need for more efficient and cost-effective payments as the primary driver for innovation in the space of both banking fintech and blockchain-based cryptocurrencies. However, Karpovich finds blockchain somewhat poised to fade into the back-end of technology, as opposed to achieving mainstream adoption by forward-facing cryptocurrencies.

In the case of the JPM Coin, blockchain makes up a component of the technology that will ultimately be used by clients without them directly engaging in the process, as some believe will propel the adoption of cryptocurrency.

Karpovich also dispelled the idea that JP Morgan had contradicted its stance on crypto with the development of the JPM Coin, particularly given anti-Bitcoin comments from the bank’s CEO Jamie Dimon,

“I think there’s a difference between trading a cryptocurrency that’s in the market that’s ubiquitous versus using the technology to enhance your payments infrastructure. We look at the technology as being a means to doing things faster and cheaper: every CEO would like to make things faster and cheaper. So from that standpoint I think it represents a buy into the concept of using blockchain.”

Overall, Karpovich remains positive on the development of blockchain and blockchain-based payments as a field of interest for banks to develop upon.

The post JP Morgan Exec: More Partnership Than Competition Between Banks and Crypto appeared first on Ethereum World News.

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Bitcoin ATMs Find Love In Greece, Market To Boom

Over the last few months, crypto ATMs have grown popular in various regions in the global financial market, with many market players getting onboard. Crypto ATMs allow users to buy or sell their digital assets like Bitcoin, Litecoin, Ethereum, Dashcoin, and others. Greece is one of the countries where these machines are fast gaining popularity.

What Makes Them Tick?

At the moment, there’s one crypto ATM in the Greek region of Thessaloniki and 4 in Athens. Media reports indicate that more Greek cities will embrace the use of crypto ATMs in the near future, with more of such machines set to be installed in various parts of the country in the coming months. Stefanos Getsopoulos is the co-founder of a popular crypto company, Thess Cash Hallas, and he says that plans are underway to install 3 more crypto ATMs in Northern Greece.

The love of these ATMs is largely driven by many crypto users’ preference of a freer financial and investment market as opposed to the largely centralized institutions like banks. As such, many users opt to use cryptos to avoid the centralized system. Also, some cryptocurrency users embrace the use of the ATMs as they provide an easier way to access their assets faster. In fact, crypto ATMs allow users to liquidate and withdraw their digital assets in fiat currency wherever they are. This advantage makes the ATMs even more popular in the crypto community.

There’s A Boom In The Offing

A report released recently by MarketsandMarkets, a research firm, projects the global crypto ATM market to hit north of $144.5 million by the year 2023, with a Compound Annual Growth Rate (CAGR) of about 54%.  Just last year, the market value totaled around $6.8 million. Currently, the market value stands at about $16.3 million, meaning that in the next 5 years, the global crypto ATM market is expected to grow eightfold.

Understandably, this projected market expansion might come as a shock to some, but a critical look at the figures of 2017 compared to the current figures gives all the indications of an exponentially growing market. In the last few months from 2017, the market has expanded by upwards of 50%.

According to the same report by MarketsandMarkets, the growth of the crypto market would also trigger an increase in the overall number of transactions conducted through the ATMs. This would, in turn, create the need for more crypto ATMs in service. There are now about 3,650 BATMs (Bitcoin ATMs) in service around the world, with about 4 machines being commissioned every single week.

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Bitcoin Remains Range-Bound At $7,000, Analysts Bearish

On Friday morning, investors and traders across the crypto industry awoke to a pleasant sight, with the majority of crypto assets posting gains, albeit slight. Regardless, many welcomed this move, with optimists expecting for this relatively bullish price action to continue.

“Bitcoin Has A Serious Chance To Reach The Level Of $3,000”

At the time of writing, Bitcoin has situated itself in the low $7,000s, currently posting a 24-hour gain of 1.2% at the price of $7,051.66. The asset is now on track to record its third “winning week” in a row, which may allude to the fact that sentiment in this industry may be starting to shift.

Image Courtesy of TradingView

Since Monday, Bitcoin has been range-bound between $6,800 and $7,100, likely due to the declining volatility of crypto assets in general. Additionally, there aren’t any explicit catalysts, whether fundamental or technical-based, that should (or have) propelled Bitcoin over the past weeks, leaving some to mentally place the foremost crypto asset into a state of “purgatory.”

Stepping back, it becomes even more apparent that BTC is stuck in a range, with the price of the asset remaining between $8,500 and $5,800 for nearly three months.

Speaking with MarketWatch, a San Francisco-based financial information website, Kevin Lu and Thejas Naval of Element Digital Asset Management commented on this lack of volatility. The two noted:

“Within our own team, we tend to believe the market is in an ultra reflexive state currently. It moves within a range in response to seemingly every bit of news. This is likely the result of trading having been dominated by short-term players that are using structured derivative vehicles with leverage to express intraday speculation.

While the Element Digital Asset Management researchers did not give any clear price predictions in light of the state of the market, another analyst did. Alexander Kuptsikevich, an analyst at FX Pro, noted that the market could be set to move lower. In a statement, the short-term crypto pundit touched on Bitcoin’s inability to surpass levels of resistance, explaining:

The inability of bitcoin to grow above $7,000 seems to be a serious caution. The technical analysis teaches us that the movement within such a triangle often ends up with a breakdown of support and a sharp impulse to decline,” he said. “In this case, bitcoin has a serious chance to reach the level of $3,000

But as with nearly each and every scenario, there are two (or more) sides to an argument. As reported by Ethereum World News, Michael Moro, the CEO of Genesis Trading and Genesis Capital, recently took to CNBC’s “Fast Money” segment to convey his thoughts on the current state of the cryptocurrency market.

He opened his time on the show by explaining that bears have likely begun to run out of steam, pointing out that the strong levels of support at $5,800-$5,900 were staving off any short-term sellers. The Genesis Trading CEO went on to note that as market conditions are starting to improve, Bitcoin will need to hold above $7,000 to confirm that the bulls are really back. Moro elaborated, stating:

If the [$7,000] level holds, say for the next week, two weeks, the bulls will 100 percent be back. They will be more comfortable that the lows for the year are in, and that we are more likely to see $10,000, rather than $5,000.

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Bitcoin Dominance Scales Back As EOS, IOTA, TRX Go On ‘Power Plays’

On Tuesday morning, crypto investors and traders alike awoke to an unexpected, yet promising sight, with a majority of crypto assets posting substantial gains for the first time in weeks, if not months. As the day elapsed, the market continued to trend upwards, with prices taking a slow, but steady pace moving up and up.

Bitcoin Undergoes A Slow But Steady Recovery, Analysts Bullish

As it stands, Bitcoin has found a short-term place to stand at ~$7,100 and is 5.1% on the day. Not only does BTC look good in terms of price action, recently surpassing the $6,800 resistance level, but volume figures have also made a resurgence. The collective value of all publicly-available Bitcoin trades has amounted to a hefty $4.9 billion.

This 5% move upwards marks Bitcoin’s fourth continual day in the green, which is Bitcoin’s “longest winning streak in more than a month” as Bloomberg puts it. Bloomberg analyst Eddie van der Walt also noted that there are a series of “momentum indicators” that indicate that this may not be a ‘bear market rally.’

Walt first brought up the 50-day moving average (MA), pointing out that BTC recently broke through this important psychological and technical level, which may act as a line of support or resistance in a variety of scenarios. Last but not least, the analyst noted that Divergence Analysis Inc.’s Buying and Selling Pressure indicator is signaling that BTC is ready to head higher. If Bitcoin’s price action does not pan out as he expects, Walt also indicated that $6,300 currently acts as the trend line, which would likely be a point of interest in the short to mid-term.

While the foremost crypto asset has had a good day, to say the least, BTC dominance actually scaled back, from 53.3% to 52.6% in the past 24 hours. Many attributed this slight dominance pullback to the breath-taking performance of altcoins, which have surpassed Bitcoin in terms of percentage gains. Ethereum currently is up 6% on the day, still finding contention at $300, while XRP, BCH, XLM, and NEO are up 7% on the day.

However, some altcoins have gone above and beyond the ‘call of duty’, with IOTA, TRX, EOS, and DASH posting astronomical gains which have dropped the jaws of many short-term speculators.

IOTA 

Following the release of IOTA’s Trinity Wallet desktop beta, along with the announcement of a Volkswagen/IOTA collaboration, the price of MIOTA has seen an unexpected resurgence. As it stands, IOTA is up a staggering 24% today, with the asset reclaiming its spot as the 10th largest crypto, ousting TRX for the first time in weeks. Many optimists expect for the price of the asset to continue higher, as the development of the IOTA ecosystem remains a hot topic in this industry.

TRX 

After a series of bullish announcements, which include the IOS app store launch of the Tron Wallet and the listing of TRX on Kucoin, TRX saw an influx of buying pressure, pushing the asset up by 10% in the past 24 hours. While TRX has not returned to its spot as the 11th largest crypto by market capitalization, it is clear that there is still investor interest in this asset.

EOS 

It is unclear whether there was a catalyst for EOS’ move, but the price of the asset has posted a strong 11% gain in the past 24 hours.

DASH

As reported by Ethereum World News, DASH surged by upwards of 26% following the announcement of a partnership with Krypto Mobile. While DASH has since quieted down, now only posting a 12% daily gain, this news is still of importance, as some mobile devices will come pre-loaded with DASH-related apps preinstalled, which will only help the adoption of crypto assets in the long run.

At the time of writing, the current capitalization of all crypto assets has reached $230 billion.

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Roger Ver: Bitcoin Cash (BCH) Is “The Best From An Investment Standpoint”

For the better part of a decade, Bitcoin (BTC) has sat at the forefront of the cryptocurrency industry, continually proving itself that it is a reliable project to invest your time and money in. But for proponents of Bitcoin Cash, the crypto that spawned out of August 2017’s hard fork of the Bitcoin chain, BCH reigns supreme.

It goes without saying that Roger Ver, dubbed “Bitcoin Jesus” by some, has quickly become the controversial poster child of Bitcoin Cash. Ver recently spoke with the hosts of CNBC’s “Fast Money” show to discuss his opinions on the cryptocurrency market, specifically regarding Bitcoin Cash (BCH).

Commencing his time on the segment, he first pointed out the fact that Bitcoin had become unusable as a form of digital cash. Elaborating on this ideology, he stated:

BTC, Bitcoin, is no longer, or at least last December, wasn’t usable as commerce as all. The fees became high, the transactions became slow and unreliable, and people like myself and everybody else that was trying to use it for commerce stopped at switched to something else.

Seemingly expressing his positive sentiment regarding Bitcoin Cash, he added that this “something else” could be BCH for “the most number of people.” However, as critics constantly point out, Bitcoin Cash (BCH) has underperformed Bitcoin greatly this year, with the relative value of the fork falling by over 50% from 0.1834 BTC to 0.08 BTC as it stands today.

Regardless, “Bitcoin Jesus” went on to note that Bitcoin Cash’s dismal performance should not be a cause for concern for BCH diehards. Referencing his over six years of experience in the ever so volatile cryptosphere, the outspoken BCH advocate noted that he first invested in Bitcoin at approximately $1, and saw his investment grow 30-fold in 2011’s ‘bubble’. Following this astronomical run, Bitcoin fell by over 90% back to ~$2, which turned his 30x gain into ‘just’ 2x.

Likening investment to the good ole game of hockey, Ver pointed out that players, or in this case investors or traders, should head to where the puck is going to be rather than where it is currently. Explaining why BCH is where the ‘puck’ (money) is heading, Ver noted that “all the adoption, merchants, and business are being built on top of Bitcoin Cash at this point, so in the future, I think BCH is the best from an investment standpoint.”

Ver May Be A BCH Proponent, But He Says To “Diversify, Diversify, Diversify”

Aiming to stay relatively unbias, the foremost BCH proponent added that investors should never keep all their eggs in one basket, in cryptocurrencies or in publicly-traded vehicles alike. CNBC Host Mellisa Lee, seeming intrigued by this statement, went on to question Ver about his overall cryptocurrency portfolio. Staying true to what he preached about diversification, he noted:

I hold more Bitcoin Cash then anything else, but I have some Ether, some ZCash, some ZCoin, Dash, Monero and I still hold BTC as well. So a little bit of everything is a good idea, including a bit of Ripple (XRP) and Stellar (XLM). Diversify, diversify, diversify is the name of the game.

Later reverting to his BCH-centric mindset, Ver added that he began to diversify his 99% BTC portfolio around two to three years back when he saw the “writing on the wall” that Bitcoin developers had “an insane idea” to leave blocks small.

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CNBC Draws Flak For Upcoming “Bitcoin: Boom or Bust” Documentary

CNBC ‘Embraces’ Crypto With Fully-Fledged Documentary

CNBC has quickly become near-infamous in the cryptocurrency community for its controversial coverage of this asset class. And while the mainstream media outlet’s coverage of crypto has been criticized time and time again, it seems that the firm’s higher-ups aren’t fazed, recently revealing that CNBC would be airing a Bitcoin-centric documentary.

On Saturday afternoon, the American CNBC news outlet announced that it would be airing a documentary that would “explore the world of bitcoin.” In a press release issued a few days earlier, CNBC wrote the following regarding the description of the documentary:

This documentary is an eye-opening journey that proves to be as informative as it is entertaining and unexpected. Lee offers viewers a rare look inside the wild world of bitcoin, uncovering the unusual landscape and cast of characters surrounding it, and ultimately, allowing viewers to take their own side in the crypto craze.

Along with the reveal of the documentary’s name — “Bitcoin: Boom or Bust” — the firm also unveiled a 90-second trailer, which was likely aimed at getting users interested for the Monday, August 27th air date. Instead of building hype, however, the release of this announcement has seemingly backfired, with crypto enthusiasts, personalities, analysts and investors coming out en-masse to pick apart the short, yet contentious trailer.

Firstly, users came out to berate the outlet for its use of “HODL,” a term that has been immortalized in the heart of the cryptocurrency community. In the trailer, CNBC host Mellisa Lee, draws attention to HODL, noting that it is a popular acronym for “hold on for dear life.”

As Ricardo Spagni, a foremost Monero developer, points out, HODL is not an acronym, but rather an insignificant, yet hilarious typo that gained a cult following in the crypto community following late-2013. Spagni, poking fun at the outlet’s use of the term, wrote:

It’s not an acronym, you incompetent buffoons. Please do the tiniest bit of research FIRST!

Last but not least, the documentary’s focus on a Bitcoin diehard, dubbed “Crypto Kid,” who seems to be set on portraying his somewhat over-the-top character, instead of providing viewers with an informative look into Bitcoin and related topics. Bitcoin millionaire Crypto Kid, whose legal name is Justin, is such a diehard that he apparently sold a majority of his worldly possessions for crypto, and now lives in a treehouse as an expression of his “frugal” lifestyle.

While there isn’t anything inherently wrong with “Crypto Kid,” many critics stipulated that a focus on a more relateable cryptocurrency enthusiast would have been a better choice for viewers.

Twitter user Hector Hernandez proposed for CNBC to interview industry leaders, like Andreas Antonopoulos or Nick Szabo, as he speculated that the outlet was trying to “ridicule the crypto movement.”

Anyhow, keeping the trailer (and the subsequent response of cryptocurrency investors) in mind, it would be no surprise if Monday’s full release of the documentary will result in an even harsher round of backlash for CNBC.

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Crypto Market Sees A Sea Of Green, Posts Weekly Gain

Bitcoin Hesitantly Moves Upwards, Altcoins Follow

As the 24/7 crypto market moved transitioned from Friday to Saturday, traders were able to breathe a sigh of relief, as Bitcoin made a hesitant move upwards, with no bears in sight. At the time of press, Bitcoin is trading within the low $6,700s, seemingly rangebound between $6,700 and the heavily-contested $6,800 resistance, which technicians see as a key level for this asset.

Chart Courtesy of TradingView

Whilst Bitcoin’s volatility may be on the down-low, traders have been continually backing up the asset with a consistent volume figure of approximately $4 billion per day, which goes to show that there is still interest in this budding industry. It is likely that BTC will encounter resistance at $6,800, and will need a daily close above that price level to indicate a potential breakout.

Image Courtesy of Coin360.io

Altcoins followed ‘big daddy’ Bitcoin in this bout of positive price action, with coins like ETH, XRP, EOS, BNB and more posting near-identical gains to the foremost crypto asset. But as reported by Ethereum World News, there were some assets that stood above the rest, including eight altcoins in the top 100 that have seen double-digit gains today, further adding credence to the fact that the market may finally be undergoing a reversal.

But while altcoins may be hot now, prospects may be beginning to look dismal for these assets, as active trading in the altcoin markets has all but dissipated.

Crypto Market Posts Week-Over-Week Gain For The First Time In Weeks

The cryptocurrency industry has had a helluva week, with the SEC denying and then reviewing nine separate crypto-backed ETF proposals within a matter of 24 hours. Moreover, the Chinese government has come out in force, taking multiple measures to curb the propagation of cryptocurrencies all within the span of a few days. Said measures include the ban of crypto news outlets on WeChat, Alipay’s restrictions on Bitcoin OTC accounts, and China’s move to block 124 foreign cryptocurrency exchanges via its intranet firewall.

On the other hand, however, this week has had its fair share of positive news, including a widespread sentiment shift across many industry leaders, who see that Bitcoin is starting to bottom.

The market has clearly reflected this mix of bullish and bearish sentiment, with Bitcoin posting gains and losses throughout the week that had traders on the edge of their seats.

But for the first time in weeks, if not months, the collective market capitalization of all crypto assets has only increased on a week-over-week basis. Some analysts have pointed out that ‘FUD’ is starting to have less of an effect on the market, which may be an evident sign that the bears have finally bitten the dust.

Furthermore, as cryptocurrency commentator EmptyBeerBottle puts it, “every day there are exciting developments in crypto that don’t get picked up or broadcasted around. (So) don’t get distracted or focused on one thing.”

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Breaking: SEC Is Reviewing The Nine Bitcoin-Backed ETF Denials

The Bitcoin and crypto-backed ETF saga has continued, with the SEC recently revealing that it would be reconsidering nine proposals that were denied on August 23rd. As reported by Ethereum World News, nine ETF applications from ProShares, Direxion, and GraniteShares were rejected yesterday in a triple-blow to the stomachs of crypto investors, with the SEC citing concerns of manipulation and a lack of “significant size” markets to back up BTC’s spot price.

However, with a recent development pointed out by CoinDesk, the U.S. Securities and Exchange Commission will be “reviewing” the disapproval orders, in a so-called “staying” process.

SEC Commissioner Hester Peirce, crypto’s ‘inside woman’ in legacy systems, announced that yesterday’s orders would be reviewed in accordance with Rule 431 of the Commission’s Rules of Practice.

Simplifying the explanation of the rule, Pierce, who has been dubbed ‘CryptoMom’ by the community, noted that the Commision may often review actions taken by its staff. Elaborating, the SEC Commissioner wrote:

In English: the Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff’s action, as will now happen here.

With this move, Hester Peirce has cemented herself as somewhat of a crypto proponent, as she vehemently spoke out against the SEC’s recent decision to disapprove the Winklevoss Twins-backed ETF for the second time.

Crypto Market Surges On SEC Update

As a result of this new development, the crypto market saw a quick surge to the upside, with Bitcoin quickly seeing a $150 gain, from $6,400 to $6,500 within a matter of minutes.

Altcoins followed Bitcoin, and are currently gains that are near-identical to the market leader. As it stands, Bitcoin has found a place to stand at $6,510 and is up by approximately 3% in the past 24 hours. While this bout of positive price action is welcome, some fear that this will not be enough of a move to bring the crypto market back into a state of “FOMO.”

This is a developing story, so Ethereum World News will be sure to keep you updated.

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Tron (TRX) To Complete the Mainnet Upgrade on August 30th with The Final Virtual Machine Version

After Justin Sun and the Tron (TRX) Foundation launched the Testnet of the Tron Virtual Machine (TVM) on the 30th of June, Justin wrote an open letter to the Tron Community explaining that the final part of the Mainnet will be completed on the 30th of August when the Foundation launches the official version of the TVM. In the letter Justin stated that:

Today, we launched the beta version of TVM. In the following month, TVM will be tested by all the TRON community members. On August 30th SGT, TRON will complete its MainNet upgrade and launch the official version of TVM.

The current TVM is a beta version that allows the global community to test the TVM and find bugs in preparation for the final launch of the official TVM. This way, the final version is more secure and optimized for the creation of DApps that are slated as being the final piece of the puzzle in making the Tron Project great. Once DApps start running on the Mainnet, the sky is the limit for the Tron Platform and TRX coin.

Justin’s Most Recent Interview With The Crypto Lark

Youtube’s The Crypto Lark managed to get a one-on-one interview with Justin Sun where he asked about the final release of the TVM to which Justin answered:

Actually…we are ready for the launch already. But we are doing a lot of the tests…like the pressure test…volume test…to make sure it works very well when we launch. Our Mainnet was already launched on the 25th of June, but right now we are building the Virtual Machine on the Mainnet. The Virtual Machine is [where developers] can develop very interesting Decentralized Applications, DApps, on the network.

Further dissecting Justin’s words, we find that with the complete infrastructure of the Tron network complete, the stage is set for amazing DApps to be created on the platform. With Tron being 80 times faster than Ethereum’s network, developers are sure to start creating DApps on the Tron platform immediately. There is also the possibility of the Tron Network being capable of implementing smart contracts for ICOs making the future even greater for the project and coin.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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