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Tron (TRX) Announces Accelerator Plan For DApp Creation With $1 Million in Prizes

A few hours ago, Justin Sun announced via twitter that TRON (TRX) would be launching an accelerator plan geared towards encouraging the development of DApps on the network. His tweet went on to state the following:

This industry-leading plan, #TRON accelerator plan will empower developers and start-ups to develop #Dapps based on TRON protocol, one of the most active protocols with a daily transaction volume of over 1 million and more than 600,000 wallets. #TRX $TRX

About the Accelerator Plan

As stated by Justin, the plan will empower developers and start-ups to develop DApps on the Tron protocol. The Tron network has continued to exceed expectations with the amount of daily transactions it can handle as well as the number of total user accounts. In the last 24 hours, Tron has handled 2,393,997 transactions and has 702,111 user accounts. This type of stability and efficiency is what developers look for in a blockchain network when creating a decentralized application.

Submission of Projects is Between December 1st 2018 – January 4th 2019

Developers who wish to participate should submit their projects between the 1st of December and the 4th of January. Participation is via registration through EventBrite.com. More information on the Tron accelerator plan can be found on TronAccelerator.io.

Prizes Worth $1 Million

Key to the accelerator plan, is the availability of rewards worth a total of $1 Million. The breakdown of the $1 Million in rewards is as follows.

  • $200,000 for the 1st Prize Winner
  • $100,000 for the 2nd Prize Winners (2)
  • $50,000 for the 3rd Prize Winners (3)
  • 8 Special Prizes worth $30,000 each. A total of $240,000
  • 42 Finalist Prizes worth $5,000 each. A total of $210,000

The Grand prizes winner – 1st, 2nd and 3rd – will have a chance to travel to San Francisco to attend the niTROn Summit. Travel and accommodation will be catered for by the team at TRON with opportunities to participate in future Tron events and programs.

What are your thoughts on the $1 Million Accelerator plan by Tron to boost DApp development? Please let us know in the comment section below. 

[Image courtesy of TronAccelerator.io]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Tron (TRX) Announces Accelerator Plan For DApp Creation With $1 Million in Prizes appeared first on Ethereum World News.

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World’s Most Expensive CryptoKitty Sold For 600 ETH ($170,000)

The 896,775th CryptoKitty Sells For 600 ETH

Image Courtesy of Axiom Zen

Even amidst a bearish market, some users still seem to want to pour their hard-earned crypto funds into popular DApps and smart contracts. As reported by CNET, the 896,775th CryptoKitty, named Dragon, has just been sold for 600 Ethereum (ETH) or the equivalent of $172,000 at the time of the sale.

Upon first glance, Dragon may not seem like anything special, as the digital kitty ‘only’ has brown eyes, a scaled tail and no flashy features that are common in the elites of the CryptoKitty world. She is also a ninth generation in the digital kitty world, which is important to point out because higher numbered generations are often unattractive purchases for CryptoKitty collectors.

And Dragon’s description on the CryptoKitties website doesn’t seem to add to the appeal of buying her as well. Dragon’s description reads:

Salutations. I’m Dragon. I bit Rebecca Black when I was younger, but those days are gone. Believe it or not, spying on the neighbours is seriously exhilarating. You should try it some time. Let’s connect on ICQ.

Keeping these characteristics in mind, some asked why the buyer decided to purchase this seemingly mundane digital creation.

Was it a fat-fingered mistake? Did he/she/they buy the wrong cat? Is this some form of blockchain-enabled money laundering? Is there something we don’t know about the characteristics of the cat?

Regardless, on Tuesday night, a mysterious user going by the handle Rabono bought the ERC-721 cat for the aforementioned sum of 600 ETH, making Dragon the most expensive kitty to ever be sold in the DApp-based game. This title was previously held by Founder Cat #18 (Gen 0), which sold for 253 ETH ($110,000 at the time of the sale) at the peak of December’s CryptoKitties mania.

CNET reporters queried Axiom Zen, the organization behind the CryptoKitties project, about the purchase. But to the surprise of some, Axiom revealed that company policies restrict representatives from publicly commenting on interesting purchases.

However, company representatives noted that could be any multitude of reasons why Rabono might have decided to purchase #896,775, adding, “maybe there was a personal connection the buyer had to the cat or the seller… Maybe they really, really, liked how that CryptoKitty looked.”

To give the staggering $170,000 figure a bit of context, the median price of a CryptoKitty is $9, while the average price paid is $60, making the aforementioned purchase of Dragon stick out like a sore thumb, to say the least.

Crazy purchases aside, many hope that the CryptoKitties game will see a revival within the next few months because as reported by Ethereum World News previously, DApps have been in a slump across the board, with the number of active users declining by 56% overall and over 96% for the CryptoKitties game alone. So will Rabano’s purchase of Dragon spark the next CryptoKitties mania? For now, it seems that only time will tell.

Photo by Zakaria Zayane on Unsplash
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Line To Launch “LINK” Cryptocurrency In Expansion Efforts

Although prices throughout the crypto bucket have (somewhat) kicked the bucket, there are still legacy market firms who seem intrigued and excited at the idea of blockchain-backed assets. One such company is Line, a Japan-based internet-centric firm that has become well-known for its messaging app.

As reported by Ethereum World News, the firm announced an in-house crypto-to-crypto exchange, which goes by the name BitBox. Since its release, the exchange has done well, offering its users with low fees, and support for a variety of cryptos via a minimalistic, yet easy-to-use platform.

In a surprising move, the internet giant has shown interest towards expanding its crypto offerings, recently issuing a press release that highlighted its planned “LINK” cryptocurrency. According to The Verge, Line intends to issue the LINK cryptocurrency not via an ICO, but rather, by giving away tokens to users when they use Line services, products or complete specific requests. It wasn’t specified how exactly the payment scheme would work, but one would assume that all users of Line products have a fair chance of receiving this newly-established cryptocurrency.

This may lead you to ask — “What will these tokens be used for?”

Well, Line intends to allow LINK token holders to purchase stickers, “webtoons,” and other services within the firm’s messaging application, in a move to evidently emulate a sort-of premium or loyalty program/service.

Image Courtesy of Line

Although this may be mundane in and of itself, the Japanese firm noted that also intends to offer LINK trading support in the aforementioned Line-owned BitBox crypto exchange. The token has also been likened to Binance Coin, as LINK can be used in the place of the 0.1% fee charged by BitBox’s trading engine.

The firm intends to distribute 800 million LINK tokens over time while keeping 200 million LINK for itself in reserve, which will cap LINK’s circulating volume at a maximum of one billion tokens. It is important to note that for now, that Japan, undoubtedly one of Line’s most important markets, will be unable to access BitBox or LINK, as the Japanese Financial Services Agency (and other regulatory bodies) have not given the go-ahead for these products just yet. As it stands, users in Japan will get virtual points, which can be traded for the firm’s cryptocurrency in the future.

If this LINK venture succeeds, Line intends to eventually use the blockchain behind the LINK token to host decentralized applications (DApps) that will directly connect with the firm’s messaging app.

Speaking with CNET, Youngsu Ko, CEO of Line’s ‘Tech Plus’ subsidiary, explained the social media giant’s aspirations in the cryptosphere, writing:

“The accelerated development of the crypto economy and blockchain technologies has created a wide range of options for new types of businesses. To keep up with these trends, Line has decided to launch our own cryptocurrency and blockchain network. Line intends to be a pioneer in the blockchain/crypto field, using our status as a global mobile platform and a listed company to take the initiative with the first cryptocurrency.”

Photo by Luca Bravo on Unsplash
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DApps May Be The Future, But Only 8 ETH and EOS Apps Are Actively Used

Decentralized applications, or DApps as they are better known, have been continually touted as the future of the internet and technology in general. And while more DApps are under development than ever before, with firms throwing millions of dollars and hundreds of hours of manpower at promising projects, this world-changing blockchain-based technology has been slow to garner interest from the average ‘crypto Joe’.

According to a tweet from Kevin Rooke, a Canadian cryptocurrency analyst/researcher, the Ethereum and EOS blockchains collectively host only eight DApps that are actively utilized (daily) by more than 300 users.

As later pointed out by Rooke, Ethereum is home to five 300+ user Dapps, while EOS’ blockchain hosts only three. But while Ethereum may top EOS in that category, the foremost DApp on the recently-launched blockchain takes the cake when it comes to volume, posting weekly tx volumes of a hefty $18.1 million.

These figures allude to the common criticisms some have with Ethereum, namely that the Ethereum blockchain is primarily used to issue ICO tokens, rather than to promote the use of a global, yet decentralized supercomputer. While this may be the case currently, a variety of promising Ethereum-centric DApps are in development, which may only increase the adoption of decentralized technologies and blockchain-backed assets in the future.

Ethereum’s DApp Landscape

As per statistics compiled by DAppRadar, a majority of the foremost Ethereum-based DApps are decentralized exchanges, like IDEX and Fork Delta, which intake hundreds of Ether in daily volume and over a thousand of active users.

Along with DEXs, collectibles and gambling applications have become a common sight on the metaphorical Ethereum block. Etheremon, a decentralized stab at the popular Pokemon pop culture phenomenon, and CryptoKitties are the third and fifth largest DApps respectively. While Fomo3D, which recently paid out over 10,400 ETH to a lucky user, occupies the last spot in the top five DApps.

EOS’ DApp Landscape

EOS’ DApp landscape is vastly different than Ethereum’s, as it is mostly home to blockchain-based games and gambling applications that many benefit from EOS‘ higher transaction throughput rate and 500 millisecond block time. Games like EOS Knights, Wizards.one, and MonstersEOS occupy the 1st, 3rd and 5th spot on EOS’ top DApp chart, as these games have garnered popularity by providing its users with a video game-esque experience via the medium of a blockchain.

DApp Active User Counts See Widespread Decline

The aforementioned figures published by Rooke mirror recently-posted research from Diar, a weekly fintech-centric publication, which also claims that the short-term prospects of DApps do not look too great. As reported by Ethereum World News previously, the number of active DApp users across multiple platforms has fallen by 56% from January’s high, from 528,000 individual addresses to 231,000 addresses now.

It is widely speculated that this decline in DApp usage is a direct result of declining crypto prices, as investors continue to cast aside their digital asset holdings in search for the next investment gravy train. Although the future of DApps may look dismal as it stands, many decentralization proponents still hope that these applications will eventually make a foray into the public spotlight.

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Can Rock, Paper, Scissors Save The Ethereum (ETH) DApp Landscape?

Decentralized App User Count Plummets

Decentralized applications, or DApps as they have been dubbed, has been widely touted as the future of the internet and blockchain technology for years on end. And while many innovators see the potential in decentralized systems and applications, recent statistics gathered by Diar show that DApps have yet to garner widespread interest from the common consumer.

Image Courtesy of Diar

Take the example of CryptoKitties, which saw its daily user base decline from over 14,000 to 510 within 7 months, or a dismal 96% decline. While the near-collapse of the CryptoKitties DApp is on the extreme end of ‘DApp deaths’, users counts have been dwindling with a majority, if not all of these applications, including decentralized exchanges (DEXs). Bancor, for example, saw 74% of its userbase disappear from 1747 to 457 individuals accounts. Fork Delta, another popular DEX, unarguably had it even worse, losing 90% of its active users within a similar timespan.

As a result user count declines across the board, the average monthly DApp user count has fallen by 56% since January 2018’s high at 528,000 individual accounts to just 231,000 addresses.

Is Rock, Paper, Scissors The Answer To Ethereum’s DApp Problems? 

While Diar has undoubtedly revealed that the DApp subindustry is suffering, a recently revealed DApp, albeit ever so simple, may be able to fill a growing need for fun, easy-to-use applications.

The Next Web reports that a Reddit user, going by the handle “ikirch,” has just released an Ethereum-based version of Rock, Paper, Scissors as a smart contract, coupled with a consumer-friendly graphical user interface (GUI). The game, which requires only a wallet with ETH and the MetaMask interface to play, is as simple as choosing one of the three options (Rock, Paper or Scissors [RPS]), determining a wager, and submitting a smart contract function transaction to the Ethereum network.

Image Courtesy of 0xFair

What makes this DApp so great is the open-sourced and provably fair nature of the game, with users able to verify if they won or not by viewing the immutable result of a game, via an Ethereum block explorer. Plus this DApp, which has been called 0xFair by ikirch, is not subject to the issues with “censorship, fraud, third-party interference or downtime.”

However, this new DApp has experienced a slow start, with only a select few users utilizing the smart contract to play RPS. In fact, in the past two and a half days, only 200 transactions have been directed towards the 0xFair smart contract.

But maybe it’s worth taking a step back, to realize that this is much more about a game of RPS, but rather, an easy-to-use, consumer-friendly, fair, secure, and last but not least, a blockchain-backed application that proves that decentralized technologies hold value in a simple manner.

Photo by Fancycrave on Unsplash

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“Goodbye Toshi, Hello Coinbase Wallet” — Coinbase Revamps Mobile App

Coinbase has continually shown that it is one of the foremost crypto-centric companies in this nascent industry. And today’s announcement has only cemented this theme, with Coinbase making a move to revamp the popular Toshi mobile wallet to better fit the firm’s unrelenting drive for innovation.

This change comes via a post made on Medium, with Siddharth Coelho-Prabhu, a Toshi (Coinbase by extension) developer, writing, “goodbye Toshi, (and) hello Coinbase Wallet.”

You may be thinking: “That’s great and all, but what does this mean for consumers like you or myself?” Well, with this move, Toshi will become a native member of the Coinbase ecosystem and will be revamped to become even better in a bid to fit the Menlo Park-based firm’s goals and aspirations. As Coinbase Wallet’s Product Lead puts it:

“This is not just a new name, but part of a larger effort to invest in products that will define the future of the decentralized web and make that future accessible to anyone.”

For those who are unaware, the Toshi project was launched just over one year ago and featured the world’s first mobile-focused decentralized application (DApp) browser. Just a few months later, Toshi became the first wallet to support crypto collectibles, such as CryptoKitties and the like. While these moves were appreciated by many, Toshi’s (Coinbase) overarching goal was to facilitate an easy-to-use decentralized ecosystem through a simple app on your mobile phone.

Image Courtesy of Coinbase

Unlike the competition, Toshi, which is now named Coinbase Wallet, allows its users to store their private keys within your device, instead of in a centralized (easily hackable) server. Not only are the funds controlled by the user, but the private keys are secured using a so-called “Secure Enclave” and through biometric authentication methods.

But to Coinbase, this wallet is much more than a place to store your cryptocurrencies, but more of a “home-base for exploring the decentralized web and its possibilities.” Attesting to this fact, the cryptocurrency giant listed the features supported by the application, which are as follows:

  • Manage ETH and all your ERC-20 tokens (very soon we’ll be supporting BTC, BCH, and LTC).
  • Receive airdrops and ICO tokens.
  • Buy and store crypto collectibles — non-fungible tokens that are unique — and use them in games, or trade them on marketplaces.
  • Send payments to anyone anywhere, without geographical borders or fees.
  • Access leading decentralized exchanges and relayers to buy and sell tokens.
  • Explore the full universe of third-party DApps that enable everything from taking out a loan or lending to others on the blockchain to earning crypto by answering questions, performing services, or completing tasks.

Taking these features into account, Coinbase Wallet has quickly become a preferred platform for many cryptocurrency users, including entrepreneurs and companies looking for DApp adoption.

Users expressed their excitement for this move, with one Reddit user going by Brady421 commending Coinbase for making moves in a bear market, writing:

“As much s*** as Coinbase gets they’re really doing the most in the market to make crypto mainstream. Nothing but respect to them over the past few months.”

The closing comments of the aforementioned Medium post echo this sentiment, claiming that this was just one small move in moving towards an “open financial system” through the adoption and real-world use of crypto and DApps.

Photo by Rodion Kutsaev on Unsplash

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HTC Exodus Phone to Support Crypto Wallet, CryptoKitties, Instead of Native Blockchain

Electronics giant HTC will not be releasing a smartphone with a native blockchain network for crypto trading between users as previously announced, The Verge reported July 10. Instead, the company will introduce a smartphone containing a cryptocurrency wallet and CryptoKitties, the Ethereum-based decentralized application (DApp) game.

On May 15, the Taiwan-based electronics firm had first unveiled its blockchain smartphone project, the HTC Exodus, that would reportedly include support for both the Bitcoin (BTC) and Ethereum (ETH) networks. The Verge wrote in May that the company planned on creating a product with “a native blockchain network that uses Exodus phones as nodes that support cryptocurrency trading between users.”

Phil Chen, the creator of HTC Vive and HTC’s head of business and corporate development, said at the time that he envisioned a product that would allow customers to “truly own their data […] without the need for central authorities,” Cointelegraph reported.

However, speaking to The Verge this week, Chen said that a phone that allowed users to own their identity is still in the future, and the Exodus — set to be released in 2018 — will include just a native crypto wallet and CryptoKitties.

Chen also mentioned that HTC is planning to incorporate crypto mining on mobile, noting that they are already exploring opportunities by checking out different consensus protocols and may issue a white paper on the project later on this year.

The Verge notes HTC’s shipping numbers are down in 2018: having shipped more than 2 million products in the first quarter of 2017, the company shipped just 630,000 devices in the first quarter of this year.

Last week, the company revealed that sales in June have dropped by 68 percent, while their latest product U12 Plus has received mainly negative reviews. In early July, the company also fired 1,500 employees in Taiwan to cut its costs.

Also this week, Swiss-based Sirin Labs told Cointelegraph that the company plans to release its own blockchain-powered smartphone, the Finney, in November this year. In December 2017, Sirin Labs raised $157.8 million for the project during their Initial Coin Offering (ICO), with $110 million collected in just first 24 hours.

The Verge notes that while the cost of the HTC Exodus is expected to be announced by the end of Q3, Chen noted that its price would be “comparable” with the Finney, which has an expected price of $1,000.

In March, Chinese tech giant Huawei was reported to be seeking a license for the SIRIN OS technology, developed by Sirin Labs, in order to release their own phone featuring blockchain-based DApps.

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Swiss-Based Sirin Labs to Release Blockchain-Based Smartphone in November

Sirin Labs, a Swiss-based smartphone developer, will release a blockchain-based phone in November this year, the company told Cointelegraph on July 11.

In December 2017, Sirin Labs raised $157.8 million for the project during their Initial Coin Offering (ICO), with $110 million gathered over the first 24 hours.

Sirin Labs had also previously released a privacy-focused smartphone in 2016, with a market price of $16,000. The new blockchain-based phone, called Finney, is scheduled to go to market with an expected price of $1,000, Sirin Labs told Cointelegraph.

Based on the Android system, Finney will run on SIRIN OS and include a cold storage crypto wallet, a Token Conversion Service (TCS), and a multi-blockchain decentralized applications (DApp) store. The phone will be manufactured and developed at the Taiwan-based Foxconn Technology group, a major manufacturer of products from Apple, Google, Cisco, Huawei, and Amazon.

According to Nimrod May, the Chief Marketing Officer of Sirin Labs, Finney will be run on a multi-layer cybersecurity suite that will prevent users from “for example, [connecting] to a rogue network.”

May told Cointelegraph that the company intends to open their own shops worldwide, with locations in Japan, the US, and the UK. He also noted that Sirin Labs has plans to launch its own personal computer based on blockchain technology as well, which is “going to be even less costly than the phone.”

Cointelegraph reported in April that Sirin Labs hopes to license their technology to other phone manufacturers. According to an unconfirmed source, China’s Huawei is seeking a license for the open-source operating system SIRIN OS in order to develop their own blockchain smartphone that will support DApps.

The Opera web browser also announced this week that they are releasing a beta version of their service for Android that would include a native crypto wallet.