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Flash hike: Tron [TRX]’s 8% boom leaves all other cryptocurrencies in the dust

Akash Anand

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Flash hike: Tron [TRX]'s 8% boom leaves all other cryptocurrencies in the dust
Source: Unsplash

The cryptocurrency market’s roller-coaster ride has been a sight to watch with some coins seeing bull runs while others suffered under the weight of the bear. Tron [TRX], currently the ninth-largest cryptocurrency on the charts has seen sporadic shifts in behavior, from becoming the biggest winner to a significant loser and back to the winner’s stables again.

At the time of writing, Tron was growing at a massive rate of 5.2% in the one-hour spectrum and by 8.4% in the 24-hour spectrum. What makes the hike quite noticeable is the fact that Tron’s bullish run comes at a time when all the other cryptocurrencies were getting attacked by the bear.

Tron had one more feather in its cap, being the only cryptocurrency other than Tether [USDT] seeing green among the top-ten cryptocurrency club. At press time, Tron was trading for $0.0244, with a total market cap of $1.624 billion.

Tron’s market volume of $288.597 million was majorly split between two cryptocurrency exchanges, UPbit, and the Changpeng Zhao-led Binance. UPbit had a grasp on $38.162 million worth of TRX transactions while Binance witnessed $32.794 million of the total Tron trade taking place on the platform.



Tron has been in the news multiple times over the course of the past few weeks due to announcements related to BitTorrent’s new token as well as Justin Sun’s comments on the upcoming niTron conferences and the Tron accelerator. The BitTorrent token whitepaper read:

“TRON Foundation and BitTorrent Foundation are introducing a new cryptographic token called BTT along with an extended version of the BitTorrent protocol in order to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet.”

Justin Sun, the Chief Executive Officer of the Tron Foundation has been one of the most active cryptocurrency proponents online and had informed users earlier that the number of dApps on the Tron network had surpassed the hundred market. He had tweeted:

“#TRON has 100+ dapps on @DappRadar and 133 dapps on @dapp_review now! 2-3 dapps launched everyday. With #niTROn2019 and #TRON accelerator, we will break 200 very soon! #TRX $TRX”





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Altcoins

Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block

Akash Anand

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Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block
Source: Pixabay

Bitcoin SV [BSV] and its proponents have been making headlines over the past couple of weeks, either due to developments or because of comments made by its major proponents, Craig Wright, the chief scientist at nChain, and Calvin Ayre.

The network was also hit with several members of the cryptocurrency community alleging that the cryptocurrency itself is a sham without any use cases, as evidenced by its delisting on several popular cryptocurrency exchanges like Binance, Kraken and Shapeshift.

The latest news added salt to BSV’s wounds after it was revealed that the network went through another blockchain reorganization on a 128 MB block. This fact was pointed out by Nikita Zhavoronkov, the lead developer of Blockchair, who had tweeted:

“Whoops! $BSV has experienced yet another reorg, this time 6 (six!) consecutive blocks were orphaned (#578640–578645), this chain included a 128 MB block #578644 🤦‍♂️ The network was basically stuck for 1.5 hours, and this shows that even 6 confirmations are not enough.”

Orphaned blocks are valid blocks which are not part of the main chain. There are ways that they can occur naturally when two miners produce blocks at similar times or they can be a result of an attacker with enough hashing power using it for nefarious activities like reversing transactions.

A major reason why this reorg event made news was that a major 128 MB block was stuck in transaction, something that was not supposed to occur according to the initial claims made by the SV camp. Supporters of the cryptocurrency, however, have stated that despite being slower than promised, the transactions on the block settled faster than that on a Bitcoin Core block.



One supporter of BSV, mboyd1, tweeted:

“Orphaned blocks are a feature, not a bug”

To this tweet, Zyo, another cryptocurrency enthusiast replied:

“yes, but orphaning 6 blocks in a row is not good, that means that 6 confirmations is not safe. It’s a bug because the 100+ MB take way too long to propagate and validate. There is a reason why BCH doesn’t have [yet] 100+ MB blocks.”





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