Connect with us

Altcoins

Tron [TRX] sees the bright side with 18% hike in the past 7 days

Priya

Published

on

Tron [TRX] sees the bright side with 18% hike in the past 7 days
Source: Unsplash

Tron [TRX], one of the top altcoins in the cryptocurrency market has witnessed a hike of more than 18% in the past 7 days. The coin sees the bright side right after Justin Sun, the CEO and Founder of Tron Foundation, launched the Tron Virtual Machine.

According to CoinMarketCap, at press time, the coin was trading at $0.025 with a market cap of more than $1.67 billion. The coin has gone up by more than 2% in the past 24 hours.

This marks the coin as one of the altcoins which has gained the most in the past 7 days alongside NEO, EOS, Monero [XMR], IOTA [MIOTA], DASH and Vechain [VET] amongst the top 20 coins in the cryptocurrency market.

This is the exact moment the whole Tron community was awaiting along with the TVM launch and more insight on Project Atlas.

The Tron Foundation has been working towards improving the Tron ecosystem. The Foundation’s main aim has been to ‘Decentralize the Web’. Also, Tron has acquired BitTorrent, the biggest torrent platform in the world.

The use case of BitTorrent has also been pointed out by Satoshi Nakamoto, the creator of Bitcoin [BTC]. Satoshi had mentioned it as an example in one of his Bitcoin mailing list and the same is now visible on the BitTorrent Project Atlas web portal. Even Charles Hoskinson, the Founder of Cardano and IOHK spoke about the use case of BitTorrent. He stated that BitTorrent is one of the examples for scaling protocol.

The Project Atlas was released in order to integrate BitTorrent and Tron. The main agenda of the project is to the increase the lifespan of the torrent swarms and make it faster. The integration is going to add on to the payment and settlement of the online content on a global level. Moreover, the project will not be associated with mining projects and users will have to interact with each other with the resources provided to them.



Moreover, Justin Sun claims that Tron will surpass Ethereum. The TVM which was launched by the platform is completely compatible with Ethereum’s Virtual Machine. The features of the Virtual Machine is going to be launched by the 27 elected Super Representatives.

To launch the feature of the TVM, a SR will have to first make the proposal which will have to have the signature of all the SRs. This will then require the vote from 2/3rd of the Super Representatives for the proposal to be considered valid otherwise it will be considered invalid. According to the Foundation, these Representatives will be representing the community has a whole.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

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

Priya

Published

on

By

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.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending