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Altcoin Daily Preview: Tron (TRX) Could Bounce back, CoinBase Prospects Bullish for Stellar Lumens

TRX/USD (Tron)

Latest Tron News

Straight from the announcement of the Tron Accelerator, the launch of Tron Developer Suite and the apparent meltdown of crypto prices, Justin Sun, the co-founder of the platform is now urging developers to migrate from EOS and Ethereum platforms.

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

Through a fund that Sun says will “rescue” these developers from imminent “collapse” of their respective platforms, dApp creators would get a boost only if they migrate their work to the Tron Platform.

This is not the first time Sun is throwing sublime jabs at EOS and Ethereum. He has on several occasion been tussling with Ethereum’s Vitalik Buterin who at one time said Tron plagiarized part of its white paper from Filecoin.

TRX/USD Price Analysis

From left to right, prices are negatively sloping meaning the path of least resistance is southwards. But this has been the trend in the last 11 months or so and after tumbling >85 percent, we expect TRX to find support.

At the moment, prices are edging higher in line with Nov 28 bulls and though consolidating within a tight 0.5 cents range, we expect buyers to print higher by the end of the week. The only time we expect bulls is when TRX/USD thrust above our resistance at 1.5 cents–$1.7 cents zone.

Fitting stops will be at 1.4 cents with first targets at 2 cents. Losses below 1.2 cents and 1.3 cents invalidate this plan.

Our TRX/USD trade plan will therefore be as follows:

Buy: Break and close above 1.5 cents

Stops: 1.4 cents

Target: 2 cents

XLM/USD (Stellar Lumens)

Latest Stellar Lumens News

As reported by EWNs, CoinBase—the US based crypto exchange platform has once more announced that it will be exploring 31 digital assets including Stellar Lumens (XLM).

Also Read: CoinBase Pro Lists the ERC20 Tokens of Civic (CVC), DNT, LOOM, and Decentraland (MANA)

This being the second time, the community is pretty excited about the news and could be pointers of what’s to come especially if CoinBase deviates from listing a high supply, low cost pre-mined coin.

Listing on XLM could be attractive for users who would want to diversify waiting for price appreciation now that Stellar has a working relationship with IBM. IBM’s mainframes are still in use by 92 out of 100 global banks and as they have been in service for more than 50 years, an alternative proposed by IBM could easily be adopted even if it means leveraging on the Stellar platform.

XLM/USD Price Analysis

XLM/USD Price Analysis

Stellar Lumens (XLM) is perched at fourth and quite stable in the last few hours. Though XLM is printing higher against the USD, bears are in control. From candlestick arrangement, we expect XLM to print higher and even close above 13 cents triggering short term bulls aiming at 17 cents.

However, since XLM/USD is trending within a bear breakout pattern and prices are below 15 cents, we cannot discount the possibility of sellers stepping up, driving prices below our support zone. If this print out then our XLM/USD will be nullified.

Nevertheless, our short-term XLM/USD trade plan will be as follows:

Buy: 13 cents—Above Dec 9 highs

Stops: 11 cents

First Target: 17 cents

All Charts Courtesy of Trading View.

This is not Investment Advice. Do your Own Research.

The post Altcoin Daily Preview: Tron (TRX) Could Bounce back, CoinBase Prospects Bullish for Stellar Lumens appeared first on Ethereum World News.

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BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX)

In a tweet on the 25th of November, Justin Sun had urged Ethereum (ETH) developers to migrate their tokens and projects to the Tron (TRX) platform. His tweet went on to explain why they should do so.

In bear market, #Ethereum developers should migrate your token to #TRON immediately.

  1. 0 transaction fee, no gas in #TRX.
  2. Compatible to #ETH, 0 migration cost.
  3. 2000 TPS.
  4. #TRON dex listing.

You can easily increase your token value 100% with High liquidity.

BitGuild Migrates the Bitizens Gaming DApp from Ethereum to Tron

One such project known as BitGuild, has decided to migrate its Bitizens Dapp and the world of Bitropolis from the Ethereum network to that of Tron. The team also announced that they will be taking the portal and the Bitizens game offline to facilitate the move.

The team went to request patience as they iron out the process.

We hope you understand that this endeavor will ultimately lead to a better, stronger and more vibrant future for BitGuild and its community.

We apologize for any inconvenience, and we’re looking forward to resuming full operations as soon as possible.

Possible Reasons Why BitGuild Moved Bitizens to the Tron Network

The announcement by BitGuild did not dwell much into why they chose to move the Bitizens DApp from the Ethereum network to that of Tron. However, the Tron network has been exhibiting exponential growth since the Mainnet was launched mid this year. Once the Tron Virtual Machine was activated in October, the sky was the limit for Tron in terms of attracting developers to create DApps on its platform.

One unique feature of the Tron Virtual Machine is that it is compatible with both the Solidity programming language and the Ethereum Virtual Machine. This means that migration between the two platforms should not be too much of a hustle for an experienced developer. This is evident in the number of smart contracts that are active on the Tron network: 1,119.

There is also the additional fact that the Tron network can process up to 2,000 transactions per second. This is 80 times faster than the Ethereum network. Doing the math, the Tron network can handle 172,800,000 transactions in a day at maximum capacity.

Checking TronScan.org, we find that in the last 24 hours, the Tron network has processed 1.94 Million transactions compared to 600,000 on the Ethereum network during the same time period.

With the Tron foundation planning on integrating the zk-SNARKS privacy protocol onto the network, it is not surprising that DApps will choose its platform over Ethereum’s.

The Tron Foundation has also launched a DApp accelerator plan to make sure that the network has the best DApp developers moving forward.

What are your thoughts on BitGuild moving its Bitizens game from the Ethereum network to that of Tron? Is it a sign of things to come as projects look for networks with higher processing capabilities? Please let us know in the comment section below. 

[Image courtesy of @BitGuildPLAT]

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 BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX) appeared first on Ethereum World News.

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BitGuild Moves the Bitizens Gaming DApp From Ethereum (ETH) to Tron (TRX)

In a tweet on the 25th of November, Justin Sun had urged Ethereum (ETH) developers to migrate their tokens and projects to the Tron (TRX) platform. His tweet went on to explain why they should do so.

In bear market, #Ethereum developers should migrate your token to #TRON immediately.

  1. 0 transaction fee, no gas in #TRX.
  2. Compatible to #ETH, 0 migration cost.
  3. 2000 TPS.
  4. #TRON dex listing.

You can easily increase your token value 100% with High liquidity.

BitGuild Migrates the Bitizens Gaming DApp from Ethereum to Tron

One such project known as BitGuild, has decided to migrate its Bitizens Dapp and the world of Bitropolis from the Ethereum network to that of Tron. The team also announced that they will be taking the portal and the Bitizens game offline to facilitate the move.

The team went to request patience as they iron out the process.

We hope you understand that this endeavor will ultimately lead to a better, stronger and more vibrant future for BitGuild and its community.

We apologize for any inconvenience, and we’re looking forward to resuming full operations as soon as possible.

Possible Reasons Why BitGuild Moved Bitizens to the Tron Network

The announcement by BitGuild did not dwell much into why they chose to move the Bitizens DApp from the Ethereum network to that of Tron. However, the Tron network has been exhibiting exponential growth since the Mainnet was launched mid this year. Once the Tron Virtual Machine was activated in October, the sky was the limit for Tron in terms of attracting developers to create DApps on its platform.

One unique feature of the Tron Virtual Machine is that it is compatible with both the Solidity programming language and the Ethereum Virtual Machine. This means that migration between the two platforms should not be too much of a hustle for an experienced developer. This is evident in the number of smart contracts that are active on the Tron network: 1,119.

There is also the additional fact that the Tron network can process up to 2,000 transactions per second. This is 80 times faster than the Ethereum network. Doing the math, the Tron network can handle 172,800,000 transactions in a day at maximum capacity.

Checking TronScan.org, we find that in the last 24 hours, the Tron network has processed 1.94 Million transactions compared to 600,000 on the Ethereum network during the same time period.

With the Tron foundation planning on integrating the zk-SNARKS privacy protocol onto the network, it is not surprising that DApps will choose its platform over Ethereum’s.

The Tron Foundation has also launched a DApp accelerator plan to make sure that the network has the best DApp developers moving forward.

What are your thoughts on BitGuild moving its Bitizens game from the Ethereum network to that of Tron? Is it a sign of things to come as projects look for networks with higher processing capabilities? Please let us know in the comment section below. 

[Image courtesy of @BitGuildPLAT]

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.

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Tron (TRX) Continues to Hold On to the Number 10 Spot Ahead of Cardano (ADA)

A little over 24 hours ago, Tron (TRX) edged out Cardano (ADA) to take the number 10 spot according to market capitalization as reported by Coinmarketcap.com. TRX has managed to leave behind Monero (XMR), IOTA and Binance Coin (BNB) on its way to the top 10. Around $30 Million in market capitalization separates TRX and ADA. Bitcoin SV (BSV) is $700 Million ahead of Tron in market capitalization. Time will tell if TRX will also edge out BSV.

A clearer view of the situation has been provided by the screen shot below.

Possible Developments that Could Have Led to TRX Moving Up to Number 10

To begin with, on the 28th of November the Tron foundation released an upgraded version of Tron Mainnet. Dubbed Odyssey 3.2, the upgrade has the following additional features.

  • New in-memory database that is safer and more stable
  • TRC10 token support for the Tron Virtual Machine (TVM)
  • Support of resource delegation – users can freeze TRX to obtain energy for other users. This means that a developer who does not have enough TRX can ask others to freeze TRX for him to deploy and run his smart contract

Secondly, the recent news of the Tron network adopting zk-SNARKS to enhance privacy by the first quarter of 2019, has really ignited interest in the digital asset. Justin Sun made the announcement of plans to use the popular ZCash technology during an interview with the Bad Crypto Podcast where he explained it as follows.

First of all, I think that transparency [on the Tron blockchain] is very important…and also the governance. That is how people have trust in this network.

I think privacy is also important for the network. So that’s why I think in next year, Q1, we will adopt the zk-SNARKs into our network. So zero-knowledge proof into our network…

This is how we can improve the privacy of the whole network.

Thirdly, the Tron community has been constantly excited by the Decentralized exchange on Tronscan as well as two other DEX’s: Tron Watch Market and TrxDEX.io.

Fourthly, the Tron Network has continually proven itself in terms of handling millions of transactions per day. The number of transactions in the last 24 hours was recorded at 1.96 Million txs. On the 1st of December, this number was at 2.4 Million transactions in a day. Comparing with Ethereum’s 600,000 transactions in the last 24 hours, we find that Tron has tripled ETH’s number.

Summing it up, TRX has once again entered the top 10 list of cryptocurrencies according to market capitalization. We have also explained four reasons as to why this has happened.

What are your thoughts with TRX making it back in the top 10 cryptocurrencies according to market capitalization? Please let us know in the comment section below. 

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) Continues to Hold On to the Number 10 Spot Ahead of Cardano (ADA) appeared first on Ethereum World News.

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Tron Almost Tripled Ethereum’s Transaction Number, “TRON will grow by 400% in December” Justin Sun Says

Two days ago, the TRON (TRX) team published a post with their latest updates, commenting that now in some aspects, Tron (TRX) can far surpass Ethereum.

This common practice followed by TRON prevents users from feeling detached from the community by updating them not only on the achievements but also on the state of the current developments they are working on.

According to the official press release, Tron managed to process a single historical record of more than 1.8 million transactions. This milestone can give a sample of the growth achieved by the popular blockchain and the confidence shown by the users of this platform, something to take into account, considering the decrease seen in the Ethereum blockchain during the last weeks.

Blokt mentions that Tron’s performance during the last month has enough merits to be recognized as an excellent blockchain with a lot of potential and an excellent perception by the public. Tron’s growth can help boosting up the work of other projects that may be afraid of being left behind:

“Tron continued to pile the pressure on competitors after making a new record of its transaction number which reached 1.84 million, nearly tripling Ethereum’s transaction number sitting at 670,000. After Nov. 10th, Tron marked a new milestone after single-day transaction number over the whole network reached 1.36 million, surpassing Ethereum’s highest figure of 1.34 million reached during the bull market.

The fact of having a better behavior than Ethereum is of crucial importance for Justin Sun and his project since there has been some twitter war between him and Vitalik Buterin (a strong critic of this project)

The conflict between TRX and ETH has been running rampant in the community. A few days ago, Vitalik mentioned that Justin was just another money-motivated Shiller, to which Justin responded precisely by mocking Ethereum’s poor performance compared to its blockchain.

It is also curious that recently Mr. Sun commented that TRON will significantly grow this month. This statement is somewhat difficult to believe given the bearish behavior that cryptocurrencies had during the year, and which was accentuated during the past month after the hash war caused by the fork of bitcoin cash. This decreased the market not only in prices but also in use and number of developments.

“80 DApps will be launched on Tron’s MainNet next month. It is worth mentioning that TRON will grow by 400% in December”

The post Tron Almost Tripled Ethereum’s Transaction Number, “TRON will grow by 400% in December” Justin Sun Says appeared first on Ethereum World News.

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Tron Almost Tripled Ethereum’s Transaction Number, “TRON will grow by 400% in December” Justin Sun Says

Two days ago, the TRON (TRX) team published a post with their latest updates, commenting that now in some aspects, Tron (TRX) can far surpass Ethereum.

This common practice followed by TRON prevents users from feeling detached from the community by updating them not only on the achievements but also on the state of the current developments they are working on.

According to the official press release, Tron managed to process a single historical record of more than 1.8 million transactions. This milestone can give a sample of the growth achieved by the popular blockchain and the confidence shown by the users of this platform, something to take into account, considering the decrease seen in the Ethereum blockchain during the last weeks.

Blokt mentions that Tron’s performance during the last month has enough merits to be recognized as an excellent blockchain with a lot of potential and an excellent perception by the public. Tron’s growth can help boosting up the work of other projects that may be afraid of being left behind:

“Tron continued to pile the pressure on competitors after making a new record of its transaction number which reached 1.84 million, nearly tripling Ethereum’s transaction number sitting at 670,000. After Nov. 10th, Tron marked a new milestone after single-day transaction number over the whole network reached 1.36 million, surpassing Ethereum’s highest figure of 1.34 million reached during the bull market.

The fact of having a better behavior than Ethereum is of crucial importance for Justin Sun and his project since there has been some twitter war between him and Vitalik Buterin (a strong critic of this project)

The conflict between TRX and ETH has been running rampant in the community. A few days ago, Vitalik mentioned that Justin was just another money-motivated Shiller, to which Justin responded precisely by mocking Ethereum’s poor performance compared to its blockchain.

It is also curious that recently Mr. Sun commented that TRON will significantly grow this month. This statement is somewhat difficult to believe given the bearish behavior that cryptocurrencies had during the year, and which was accentuated during the past month after the hash war caused by the fork of bitcoin cash. This decreased the market not only in prices but also in use and number of developments.

“80 DApps will be launched on Tron’s MainNet next month. It is worth mentioning that TRON will grow by 400% in December”

The post Tron Almost Tripled Ethereum’s Transaction Number, “TRON will grow by 400% in December” Justin Sun Says appeared first on Ethereum World News.

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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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Tron (TRX) Mainnet Accounts Surpass those of EOS

In a tweet not more than 24 hours ago, Justin Sun marked a new milestone for the Tron project as he noted that the accounts on its mainnet had surpassed those of EOS – a much older blockchain platform. In the tweet, Justin stated that:

#TRON MainNet accounts have surpassed #EOS. 12:00pm, September 4, 2018, according to http://trxplorer.io and http://eosflare.io, #TRON MainNet: 301,604 V.S. #EOS: 299,743. The #TRON Network continues to thrive and gains more recognition 71 days post #TRON MainNet launch.

Further investigating the figures, we find that the Tron Mainnet has 303,478 accounts at the moment of writing this and according to trxplorer.io. On the other hand, the number of accounts on the EOS mainnet according to eoslflare.io currently number 300,296. The accounts on the Tron mainnet clearly exceed tho

GoSeedIt on Twitter and Telegram

One possible explanation for the rapid increment of accounts on the Tron mainnet, is the GoSeedIt tipping platform that has enabled users on both Twitter and Telegram to send each other small amounts of TRX. The tipping of TRX on social media has been given the hashtag name of #OperationTronStorm and it has even the Pope being tipped in TRX on twitter.

Increment in Tron Accounts since GoSeedIt Went Live on the 16th of August

The GoSeedIt platform for tipping in TRX was launched around the 16th of August. On this date, the number of Tron addresses stood at 66,206. Comparing with the current number of 303,478 accounts, this is a percentage increase of 360% due to the GoSeedIt platform.

In conclusion, the Tron mainnet continues to be popular amongst the Tron community as the project aims at decentralizing the web. #OperationTronStorm has also aided in the popularity of the project and coin of TRX through the GoSeedIt platform that has allowed for the number of mainnet accounts to grow exponentially in just a few days and surpass those on the EOS network.

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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Not Just Tron: Neo's Failed $170 Million Bid to Buy BitTorrent Revealed

When Tron founder Justin Sun bought BitTorrent in one of the most talked-about tech acquisitions of the year, it turns out he wasn’t even the highest bidder.

What’s more, Tron wasn’t even the only crypto startup that wanted a piece of the pioneering peer-to-peer file sharing software company, CoinDesk has learned. Based on internal documents and multiple interviews with people close to the deal, CoinDesk is able to reveal Sun’s rival in his quest to acquire the influential Silicon Valley startup was one of Tron’s top competitors, the $1.5 billion blockchain project Neo.

Through its related venture capital firm, Neo Global Capital (NGC), the project made a much higher offer than Sun, a fact confirmed both by NGC and multiple sources familiar with the deal.

According to Neo Blockchain’s head of investment, Weiyu “Wayne” Zhu, and internal BitTorrent documents obtained by CoinDesk, NGC’s bid was for $170 million, amounting to $50 million dollars more than Tron founder Justin Sun’s $120 million bid for the shares. Nevertheless, Sun’s offer eventually succeeded.

Tron did not reply to a request for comment. BitTorrent declined to answer requests as well.

Although first reported in June, Sun announced in July that he had acquired BitTorrent on behalf of Tron, the controversial blockchain project he founded in 2017 after leaving San Francisco startup Ripple. The acquisition marked one of the first times a crypto company had successfully acquired an established web company, leaving Tron investors thrilled (though the project’s skeptics were more suspicious).

At the time, observers speculated that Sun bought the company for its user base.

Tron and Neo have also faced off in other ways. Though their explicit goals are different, both projects seek to stake a claim in the already competitive market of creating faster, more scalable blockchains. Likewise, both claim a common competitor – the world’s second-largest blockchain ethereum.

Tron, which launched its network in July, aims to “decentralize the internet,” and has chiefly positioned itself as an alternative to ethereum, with Sun sparking controversy in April after tweeting that his project was “better.”

Likewise, Neo, previously called Antshares, has positioned itself and has been referred to as “the ethereum of China.” The project focuses on smart contracts, digital identity and digital assets, and has a $1.5 billion market capitalization to Tron’s $1.6 billion.

For all their similarities, though, the two projects did not offer BitTorrent the same deal. Despite bidding $50 million more than Justin Sun, BitTorrent’s board nonetheless said in the documents that NGC’s offer was “not more favorable to the company and its shareholders” and accepted Sun’s offer.

One further commonality perhaps sheds light on these peculiar circumstances. Both projects are based in China, and therefore must also face the obstacle of its capital controls.

“Only specific business purposes will be approved by Chinese government,” Minhui Chen, a partner at Global Blockchain Innovative Capital (GBIC), which helps entrepreneurs navigate the complexities of international deals, told CoinDesk. “The process takes months.”

But it turns out the Chinese government was not NGC’s primary concern.

Two bids, one deal

Sun made the first move to open the bidding process.

According to documents detailing the acquisition, Sun approached investor David Chao at DCM, a venture capital firm which controlled most of BitTorrent’s equity, in late December 2017. However, Sun did not initially try to acquire BitTorrent as a whole.

Instead, he sought to purchase a controlling stake in the company by purchasing DCM’s preferred stock, which amounted to 99 percent of the total preferred stock. According to public documents submitted to the California secretary of state in June, each of these shares were valued at about $1.85 in the final deal.

Sun offered approximately $90 million to $100 million for DCM’s stake.

However, the documents describe how Chao later insisted that Sun purchase BitTorrent’s common stock in addition to its preferred stock, for fear that common stockholders would be left empty-handed.

NGC entered the picture approximately one month after these discussions, and conducted meetings with DCM and BitTorrent. Unlike Sun, NGC sought to become BitTorrent’s sole owner from the start, offering $115 million for all preferred stock and $55 million for all common stock.

Zhu said NGC was interested because it hoped BitTorrent could build a decentralized file storage system that would be generally useful for any decentralized web project or blockchain.

Washington’s shadow

At this point, the accounts diverge on one point: who backed away when.

In mid-February, NGC revised its offer to exclude a provision that would nullify the acquisition if it was not completed within six months, a change that appears to have been considered a drawback by BitTorrent and DCM.

Just one day after NGC submitted their revised letter of intent, BitTorrent and DCM determined that the despite the higher price tag, NGC’s offer was not as “favorable” as Sun’s offer. The documents specifically cited, “the risk of the transaction not being consummated due to the projected closing of such proposed transaction being late in 2018 and [NGC’s] primary assets being cryptocurrency holdings, which required an additional foreign currency conversion prior to the closing of the proposed transaction.”

Zhu offers a different interpretation of events.

At this point, he says NGC had become concerned about the Committee on Foreign Investment in the United States (CFIUS). At that time, attempts by companies such Huawei and ZTE to invest in U.S. telecoms was stirring up significant political controversy about Chinese access to American intellectual property.

In addition, the fact that BitTorrent’s primary architect, Bram Cohen, was committed to his new venture, Chia, and therefore unwilling to return to the company proved to be an impediment.

“We were not so sure that BitTorrent is technically advanced enough to become the decentralized file project we had hoped it would be,” Zhu said. Cohen has declined a request for comment.

From Zhu’s perspective, by expressing serious concerns about CFIUS and never revisiting the point, NGC was letting BitTorrent know it was walking away.

On Valentine’s Day, BitTorrent and DCM accepted Sun’s final offer of $90 million for all preferred stock and $30 million for all common stock the following day.

The documents acknowledge that there were subsequently adjustments to the price to account for “net working capital, outstanding debt and unpaid transaction expenses,” amounting to approximately $20 million more.

What Tron wanted

BitTorrent has yet to unveil a major new Tron specific project, other than becoming in August another Tron controlled super representative on the network.

Observers speculated at the time of Tron’s announcement that Sun had acquired the company for its user base or to lend legitimacy to his project, which has been plagued by allegations of plagiarism and failing to properly attribute code in its repository. Several employees have since left BitTorrent under its new owner, citing concerns about its new management and direction.

Like NGC, Sun also tried to compel several former BitTorrent employees and major holders of common stock, including Cohen, to rejoin the company. Sun later dropped this condition before submitting his final offer.

Founded in 2004 by Cohen and Ashwin Navin, BitTorrent is a protocol for filesharing in which users would download one file from multiple peers at once, which improves speed. At times, peer-to-peer filesharing represented a large amount of all internet traffic.

While challenges with its business model ultimately led it to shopping itself for sale, its architecture anticipated the decentralized web at the heart of today’s token boom. The inventor of most of its technology, Cohen, left the company in late 2017. Shortly before the sale finalized, BitTorrent acquired a small stake in his new company, the eco-friendly blockchain protocol Chia, as CoinDesk previously reported.

That stake transferred to Sun, who has since moved BitTorrent into Tron’s Silicon Valley office, establishing a beachhead in the U.S. for the Chinese company.

So far, Sun does not seem to have run afoul of CFIUS, as NGC feared. And the Chinese state is happy for domestic companies to acquire Western companies if there’s a good reason.

As GBIC’s Chen put it:

“Then the Chinese government will support you, but the process is still tedious and long.”

Chinese checkers image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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GoSeedIt Expands to Telegram, Allowing You To Tip Using Tron (TRX)

Back in mid August, Ethereum World News had highlighted that the Tron Community members had taken upon themselves to raise awareness about their favorite coin of TRX and the corresponding project. The method the community was using, was by Tipping TRX on twitter via a new platform known as SeedIt or GoSeedit. At the beginning of the movement by the Tron Community on twitter, prominent celebrities and personalities were tipped TRX. They included individuals such as the Pope, Kanye West and Snoop Dogg.

GoSeedIt Expands to Telegram

It is with this background that it is no surprise that the tipping via GoSeedIt has expanded to the popular messaging app of Telegram. This App has been known as being a hotbed of crypto and blockchain chats thus making TRX tipping a very strategic move for the team at GoSeedIt and also for the Tron Community.

In the Twitter announcement on the 2nd of September, the GoSeedIt Team stated the following:

You may have heard, Airdrop and Rain are new features for #Seedit. They’re currently in Beta on Telegram. Admins of any Telegram group can now make it rain on their members!

The full tweet can be found below.

So How Do You Get Started on Telegram?

  1. The first thing to do on the Telegram App, is to engage the @GoSeedItBot
  2. Create a TRX address on Telegram by engaging the bot or if you are a new recipient of some TRX on Telegram, an address has already been created for you. This address can be changed to that which you also use on Twitter
  3. Sending TRX is done by replying to a message and using the /tip command, for example:

    Sending TRX
    /tip <amount>
    /tip 100

    Sending a token
    /tip <amount> <token name>
    /tip 100 Bitcoin

In conclusion, TRX is now available for tipping on the Telegram App. This in turn makes the digital asset more visible to the general Telegram community as well as the numerous crypto and blockchain chat groups on the messaging platform. TRX joins a list of other cryptocurrencies you can tip with on Telegram. They include Reddcoin (RDD) and XRP just to name a few.

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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