Goals set by Justin Sun for Tron(trx)in 2019

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On the 31st Of May 2018, Tron achieved independence from Ethereum and Launched its own Mainnet with the Intention of being a fully functional Public Blockchain that supports Creation and development of decentralized Apps (dApps) .

With 183 Days of Trons Mainnet being active, this is what it has been able to achieve:

  • More Transaction Volumes as compared to Ethereum
  • More accounts as compared to EOS
  • More than 1Million registered users by 12/24/2018
  • More than 80 dApps  in 60 days of its TVM (Dapp) Launch
  • Top 10 Cryptocurrencies by Market capitalization

 

What Does Justin Sun Hope to achieve in 2019

  • Break into the Top 5 Cryptocurrencies by Market Capitalization
  • Make Tron Network bigger than Ethereum’s
  • Onboard  Bit torrents 100M users on to the Blockchain

Tron on Monday appreciated 12 percent against the US Dollar to restest August high near $0.028.

The spike came hours after Justin Sun, CEO and Founder of the Tron Foundation, announced that their super representatives reached consensus to launch the Tron Committee Function and Tron Virtual Machine (TVM). TVM launch marks an important step towards the functionality of Tron network. It is expected to test and execute large-scale decentralized applications similar to that of Ethereum. The TVM launch also marks the introduction of its very own smart contracts, called Era.

TVM, according to Sun, will make the Tron blockchain 200 times faster than Ethereum, and 100 times cheaper than EOS.

Sun also appeared in a brief interview round with Investopedia, the leading financial news and education websites, in which he predicted that Tron would be among the top ten cryptocurrencies.

“If we look at the top 10 cryptocurrencies, many of them are not motivated to continue innovating or improving their product. They represent the older generation of cryptos. TRON, on the other hand, is a young company with cutting edge technology, with much more room for growth. We are confident that TRON will surge into top 10 in the next 6 months.” – he told Investopedia.

The latest upside action has pushed Tron closer to top 10 coins. The cryptocurrency now stands at the 11th position, according to the data available at CoinMarketCap.com.

A Stronger Month for TRX

Tron has regained its September’s high near $0.027 following the latest uptrend and is now in the process of adding more dollars to its market cap. The TRX/USD has already broken above the August high of 0.028-fiat by a small margin and owing to the fundamentals that are still fresh; the pair could see more long entries on higher highs.

Taking the last 30 days into account, which includes price performance of September, TRX/USD has already surged by 67 percent, making it one of the most robust 30-day performance among the top coins. Only Ripple has achieved more than 100 percent gains within the same timeframe owing to its very own bullish updates.

When BitBay added TRX pairs on its European trading platform, the coin reacted with a 13 percent gain. A 10 percent jump was seen when BitFinex introduced three TRX-to-fiat instruments this week. More major push followed with BitTorrent, which announced TRX blockchain was taken to 1 million users on uTorrent, which resulted in another 7 percent spike.

And now, with the launch of TVM, Tron has all the fundamentals backing its rally.

A Technical Opinion, However

The TRX/USD pair is supported by an ascending trendline and is trending sideways in the medium-term perspective. The pair has reversed from August high before and is currently inside a breakout action scenario. It could be a false breakout signal considering the historical performance of the TRON market. The August and September price action had also witnessed rallies owing to robust fundamental scenarios but erased all their gains once the hype dried off. That said, those entering longs on higher highs must wait for TRX/USD to break above the false breakout zone, whose upside target is near 0.302-fiat.

A long position towards 0.302-fiat on a close above 0.268-fiat should make day traders decent profits for now, given they also have a stop loss order somewhere marginally below their entry positions. A pullback, if it happens, could TRX/USD towards the ascending line support, from where we could expect to enter a long position towards the nearest interim resistance. A breakdown action is also possible, but not convenient to discuss in times of a “bull run.”

Singapore based BitTorrent foundation announced that they are introducing a new cryptographic token called BTT, which will be run on the Tron Protocol. Justin Sun founder and CEO of both Tron and BitTorrent, stated that the aim of introducing the token is to create a token-based economy to make it easier for users around the world share their content directly to others online. BitTorrent was the first technology company to introduce peer to peer file sharing on the internet

Background

BitTorrent is a decentralized peer to peer file sharing protocol that was invented in 2001 to facilitate the transfer of large files around the internet and has over 1 billion users and over 100 million daily active users. It works by breaking down large files into smaller bits which use less internet bandwidth to download by multiple users. Please read here, for better grasp of how BitTorrent works.

The company was bought by blockchain startup Tron last year by Tron CEO Justin Sun for $140 million. At the time of acquisition, plans for BitTorrent had not been made public but it was general knowledge that a blockchain company obviously intended to use the protocol for some crypto function.

Tron acquired BitTorrent solely for the reason that it was the world’s largest decentralized peer to peer technology system. Before that, there had been rumors that that the owner and founder of Tron had been looking to purchase the technology company for their P-2-P file sharing and architecture system. Once Tron merged with it, it is now undoubtedly the largest functioning decentralized ecosystem.

BTT Launch

At the start of this year, Tron announced the launch of the BitTorrent token BTT, which is based on the Tron protocol. The BTT token has the following decentralized characteristics:

  • Content delivery service – it will enable service requesters to advertise bids and pay BTT for bandwidth so as to receive mass or a particular piece of content. Service providers will have to provide content that can be accessed to as many people as possible
  • Storage service – it will allow service requesters to pay for storage over time. Service providers will store some amount of data then provide proofs-of-storage to the service requester upon request. They will be able to download the stored data from the service for a pre-arranged fee. Service providers will therefore have to look for content which offers the highest payment rate over time.
  • Proxy service – to enable service requesters pay a client for the retrieval of content by URL such as mobile application users, who can retrieve web resources in bulk even with minimal internet connection services.

An article posted on 4th January stated that the token would be accessible to non-US accounts powered by binance, one of two tokens to launch on the platform and progressively be distributed by selective airdrops in the course of the month. BTT has 990 billion tokens which will be availed together with a wallet so that non-crypto users will be able to use it. One of the benefits of this token is that all pre-existing Tron users will automatically have access to BTT tokens. Find out more on the token white paper here.

 

 

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Goals set by Justin Sun for Tron(trx)in 2019

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Goals set by Justin Sun for Tron(trx)in 2019

Altcoin News | Bitcoin News | Crypto News | Latest News

On the 31st Of May 2018, Tron achieved independence from Ethereum and Launched its own Mainnet with the Intention of being a fully functional Public Blockchain that supports Creation and development of decentralized Apps (dApps) .

With 183 Days of Trons Mainnet being active, this is what it has been able to achieve:

  • More Transaction Volumes as compared to Ethereum
  • More accounts as compared to EOS
  • More than 1Million registered users by 12/24/2018
  • More than 80 dApps  in 60 days of its TVM (Dapp) Launch
  • Top 10 Cryptocurrencies by Market capitalization

 

What Does Justin Sun Hope to achieve in 2019

  • Break into the Top 5 Cryptocurrencies by Market Capitalization
  • Make Tron Network bigger than Ethereum’s
  • Onboard  Bit torrents 100M users on to the Blockchain

Tron on Monday appreciated 12 percent against the US Dollar to restest August high near $0.028.

The spike came hours after Justin Sun, CEO and Founder of the Tron Foundation, announced that their super representatives reached consensus to launch the Tron Committee Function and Tron Virtual Machine (TVM). TVM launch marks an important step towards the functionality of Tron network. It is expected to test and execute large-scale decentralized applications similar to that of Ethereum. The TVM launch also marks the introduction of its very own smart contracts, called Era.

TVM, according to Sun, will make the Tron blockchain 200 times faster than Ethereum, and 100 times cheaper than EOS.

Sun also appeared in a brief interview round with Investopedia, the leading financial news and education websites, in which he predicted that Tron would be among the top ten cryptocurrencies.

“If we look at the top 10 cryptocurrencies, many of them are not motivated to continue innovating or improving their product. They represent the older generation of cryptos. TRON, on the other hand, is a young company with cutting edge technology, with much more room for growth. We are confident that TRON will surge into top 10 in the next 6 months.” – he told Investopedia.

The latest upside action has pushed Tron closer to top 10 coins. The cryptocurrency now stands at the 11th position, according to the data available at CoinMarketCap.com.

A Stronger Month for TRX

Tron has regained its September’s high near $0.027 following the latest uptrend and is now in the process of adding more dollars to its market cap. The TRX/USD has already broken above the August high of 0.028-fiat by a small margin and owing to the fundamentals that are still fresh; the pair could see more long entries on higher highs.

Taking the last 30 days into account, which includes price performance of September, TRX/USD has already surged by 67 percent, making it one of the most robust 30-day performance among the top coins. Only Ripple has achieved more than 100 percent gains within the same timeframe owing to its very own bullish updates.

When BitBay added TRX pairs on its European trading platform, the coin reacted with a 13 percent gain. A 10 percent jump was seen when BitFinex introduced three TRX-to-fiat instruments this week. More major push followed with BitTorrent, which announced TRX blockchain was taken to 1 million users on uTorrent, which resulted in another 7 percent spike.

And now, with the launch of TVM, Tron has all the fundamentals backing its rally.

A Technical Opinion, However

The TRX/USD pair is supported by an ascending trendline and is trending sideways in the medium-term perspective. The pair has reversed from August high before and is currently inside a breakout action scenario. It could be a false breakout signal considering the historical performance of the TRON market. The August and September price action had also witnessed rallies owing to robust fundamental scenarios but erased all their gains once the hype dried off. That said, those entering longs on higher highs must wait for TRX/USD to break above the false breakout zone, whose upside target is near 0.302-fiat.

A long position towards 0.302-fiat on a close above 0.268-fiat should make day traders decent profits for now, given they also have a stop loss order somewhere marginally below their entry positions. A pullback, if it happens, could TRX/USD towards the ascending line support, from where we could expect to enter a long position towards the nearest interim resistance. A breakdown action is also possible, but not convenient to discuss in times of a “bull run.”

Singapore based BitTorrent foundation announced that they are introducing a new cryptographic token called BTT, which will be run on the Tron Protocol. Justin Sun founder and CEO of both Tron and BitTorrent, stated that the aim of introducing the token is to create a token-based economy to make it easier for users around the world share their content directly to others online. BitTorrent was the first technology company to introduce peer to peer file sharing on the internet

Background

BitTorrent is a decentralized peer to peer file sharing protocol that was invented in 2001 to facilitate the transfer of large files around the internet and has over 1 billion users and over 100 million daily active users. It works by breaking down large files into smaller bits which use less internet bandwidth to download by multiple users. Please read here, for better grasp of how BitTorrent works.

The company was bought by blockchain startup Tron last year by Tron CEO Justin Sun for $140 million. At the time of acquisition, plans for BitTorrent had not been made public but it was general knowledge that a blockchain company obviously intended to use the protocol for some crypto function.

Tron acquired BitTorrent solely for the reason that it was the world’s largest decentralized peer to peer technology system. Before that, there had been rumors that that the owner and founder of Tron had been looking to purchase the technology company for their P-2-P file sharing and architecture system. Once Tron merged with it, it is now undoubtedly the largest functioning decentralized ecosystem.

BTT Launch

At the start of this year, Tron announced the launch of the BitTorrent token BTT, which is based on the Tron protocol. The BTT token has the following decentralized characteristics:

  • Content delivery service – it will enable service requesters to advertise bids and pay BTT for bandwidth so as to receive mass or a particular piece of content. Service providers will have to provide content that can be accessed to as many people as possible
  • Storage service – it will allow service requesters to pay for storage over time. Service providers will store some amount of data then provide proofs-of-storage to the service requester upon request. They will be able to download the stored data from the service for a pre-arranged fee. Service providers will therefore have to look for content which offers the highest payment rate over time.
  • Proxy service – to enable service requesters pay a client for the retrieval of content by URL such as mobile application users, who can retrieve web resources in bulk even with minimal internet connection services.

An article posted on 4th January stated that the token would be accessible to non-US accounts powered by binance, one of two tokens to launch on the platform and progressively be distributed by selective airdrops in the course of the month. BTT has 990 billion tokens which will be availed together with a wallet so that non-crypto users will be able to use it. One of the benefits of this token is that all pre-existing Tron users will automatically have access to BTT tokens. Find out more on the token white paper here.

 

 

Leave a Comment

[js-disqus]

Latest Crypto News

Goals set by Justin Sun for Tron(trx)in 2019

On the 31st Of May 2018, Tron achieved independence from Ethereum and Launched its own Mainnet with the Intention of being a fully functional Public Blockchain that supports Creation and development of decentralized Apps (dApps)

Read More »

Crypto Regulation Commences in South Africa

The South African government today issued a statement regarding the steps it is taking on cryptocurrency trading by setting up a working group dedicated to regulating blockchain and crypto. Background Before we get into that,

Read More »

Facebook Hiring: 5 Cryptocurrency Positions Open

Something is definitely brewing in Facebook’s newly formed department. Early in May, there was a rumor that Facebook was interested in opening a cryptocurrency department within its headquarters. The advertised positions are: Two Software Engineers

Read More »

Crypto StartUps are Failing

Cryptocurrency start-ups have had a rough year with a huge section of them laying off loads of their workers with the  Bitcoin price crash. Bitcoin has lost around $280 billion of its value this year

Read More »

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