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Tron [TRX] witnesses double digit gains as rest of top ten cryptocurrency club fail to keep up

Akash Anand

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Tron [TRX] witnesses double digit gains as rest of top ten cryptocurrency club fail to keep up
Source: Unsplash

Tron [TRX]’s march towards mainstream adoption has been fueled by multiple listings as well as partnerships across the spectrum. Some speculate that these events have changed the tide in the Justin Sun led cryptocurrency’s favor, currently holding the position of the biggest gainer among the top 10 cryptocurrency club.

At the time of writing, Tron was gaining at a significant rate of 11.07% with a total market cap of $1.506 billion. The cryptocurrency was trading for $0.022 with a 24-hour market volume of $203.647 million. The lion’s share of the trade volume was held by Bit-Z overseeing a quarter of the total TRX trade.

This amounted to over $54.751 million worth of Tron transactions. Bit-Z was followed by Changpeng Zhao led Binance, which had a grasp on 11.19% of the entire TRX trade.

The current surge has also resulted in Tron trading at its highest point in over two weeks. A lot of people speculate that Tron’s rise happened due to Tron’s acquisition, BitTorrent, launching its own token. The new token is stated to run on the Tron protocol which will be issued by the BitTorrent Foundation. Post this event, Tron CEO Justin Sun had tweeted:



“Excited to unveil our new token BitTorrent $BTT and its crowdfunding on #BinanceLaunchpad!! The @BitTorrent token is the first of many steps towards achieving mass adoption of a truly decentralized internet. Come to #niTROn2019 for more info 😉 @binance”

The move was also appreciated by Binance CEO Changpeng Zhao as well who said:

“Entrepreneurs are the building blocks of industries. Let’s support them in doing their tough jobs!”

Tron was also in the news recently due to a proposal put forth by Tron One, a Super Representative of the Tron ecosystem. The proposal was aimed to allow businesses to release a crypto token the same name as the brand name. The Foundation announced:

“TRC10 token’s name will no longer be unrepeatable after Jan 5 2019, 6:00:00 AM UTC. From that time going forward token ID will be the only identifier.”





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

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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