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Tron’s [TRX] node count reaches six-month high as Foundation celebrates mainnet launch anniversary

Namrata Shukla

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Tron's node count reaching its six month high as the foundation celebrates its mainnet launch anniversary
Source: Pixabay

Tron [TRX], the twelfth largest cryptocurrency on CoinMarketCap, noted significant growth over the past week. However, it fell as the market started to crumble. The price of the coin and its cousin, BitTorrent [BTT], was expected to soar with the announcement of BitTorrent File System [BTFS] protocol. However, the tokens fell victim to the market trend.

In order to motivate the Tron community, noted proponent Misha Lederman, informed them about Tron’s node count reaching its six month high. The proponent said,

“#TRON node count reaches highest number in 6 months as it surpasses 1452 online nodes”

He also informed crypto-enthusiasts that Tron’s nodes were available on ‘every’ continent and that most number of nodes were in the United States of America [USA], China, and Germany. The Foundation aimed at incorporating BitTorrent’s BTFS to achieve decentralized storage.

BitTorrent, a peer-to-peer file sharing platform, would integrate BTFS to enable its users to share and host storage on their personal computers. Even though mainnet release for the protocol would be released in Q3 of 2019, Tron Foundation would use it to power its DApps.

On May 31, Tron also celebrated its mainnet launch anniversary, with CEO Justin Sun stating,

“Looking back on the journey, it was not easy for #TRON to achieve so much in only 1 year. We look forward to building a stronger #TRON Ecosystem and making more differences in the #blockchain industry. #TRX $TRX”

At press time, Tron was valued at $0.0315 with a market cap of $2.10 billion. The 24-hour trading volume of the coin was $1.02 billion and fell by 10.43% over the day. Over the past seven days, the coin fell by 11.98% and continued to fall by a minimal 0.01%, within the hour.





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Bitcoin

ErisX goes all hands on deck to launch a Bitcoin Futures market

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ErisX goes all-hands on deck to launch a Bitcoin Futures market
Source: Unsplash

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.





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