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Tron [TRX] is onto its fiat expansion plan; Bitfinex adds three TRX/fiat pairs

Priyamvada Singh

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Tron [TRX] is onto its fiat expansion plan; Bitfinex adds three TRX/fiat pairs
Source: Pixabay

Justin Sun, the Founder and creator of the top-20 cryptocurrency, Tron [TRX] announced on Friday that Bitfinex will now be supporting the three pairs of TRX with Euro [EUR], Japanese yen [JPY] and Pound sterling [GBP]. The addition of TRX/fiat pairs is being seen as the fiat expansion plan within the Tron community. In his official Tweet, Justin Sun wrote:

“Crypto exchange @bitfinex adds #JPY, #GBP and #EUR trading pairs to #TRON. #TRX $TRX”

Bitfinex is one of the leading cryptocurrency exchanges in the world. Earlier this week, the platform underwent a maintenance period where it announced that it is working on its infrastructural updates.

At the recently held Ethfinex Government Summit, Parolo Ardoino, the Chief Technology Officer of Bitfinex delivered a talk about his exchange discussing the recent products, Ethfinex and EOSFinex with the community. Here, he conveyed that Bitfinex created these products to follow an unbiased approach to avoid disputes within the developers’ community.

Since the cryptocurrency market has not been performing in its full enthusiasm, Tron is one of the few coins under top-20 to be performing relatively well. At press time, TRX is trading at $0.0229 with a market capitalization of $1.5 billion. The price is up by 2.74% with a 24-hour trading volume observed at $172.5 million.

Over the past 7 days, TRX has experienced a fair level of fluctuation. On 4th October, TRX touched its week-peak when it took a huge leap to trade at $0.0234 with a market cap of $1.54 billion. Post this, the price did not attain a higher trading mark and have been swinging up and down since then.



Crypto Felicia, a cryptocurrency trader and blockchain enthusiast commented on Justin Sun’s Twitter announcement. She wrote:

“I knew some friends who were waiting for the EUR trading pair. They’ll be super excited! #trx #tron #crypto”

Another Twitter user named CryptoJaws also put forth an opinion regarding TRX and the Bitcoin correlation movement. The comment read:

“more currency pairs / stable coin pairs means we don’t need to buy ETH/BTC anymore. go #tron level out the play field less correlation to bitcoin movement”





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

Priya

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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