Category Archives: Tron

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ABCC’s Partnership with TRON Bodes Well for the Future with TRX Token Offering

ABCC Partnership with TRON Bodes Well for the Future with TRX Token Offering

Cryptocurrency exchange ABCC, launched in April 2018, is the first true cryptocurrency exchange that could really boast a commission-free trading experience to its users.

Since launching, the exchange has moved from strength to strength, providing a genuinely user-centric trading experience. Its mission to provide open a frictionless blockchain-based trading service has gained ABCC numerous accolades, such as from TRON’s CEO, Justin Sun, who recently wrote: “ABCC Exchange is truly an awesome platform that has witnessed great development. We are glad to partner with #ABCC as it’s the first exchange listing #TRX10 tokens. #TRON #TRX $TRX.”

The new partnership between ABCC and TRON is sure to give the former even greater client volume given TRON’s recent acquisition of peer-to-peer file sharing platform BitTorrent and the subsequent announcement of the BitTorrent Token (BTT).

This is ABCC’s latest coup, and by partnering with TRON (TRX), it becomes the first exchange to gain rights to TRON’s TRC10 technical standard tokens. The exchange has recently announced this support for the BitTorrent (BTT) Airdrop Program for TRON (TRX) holders on the platform, giving users even more options to existing trading.

ABCC exchange is always eager to expand, and innovative campaigns and airdrops, such its latest BTT project, are typical of the platform’s forward-thinking stance within the market, with support for a monthly airdrop program of BTT with a snapshot of TRX balances at 8:00 (UTC+8) on the 11th day of each month. For the first airdrop, ABCC will take snapshot of all TRX balances on ABCC at block height 6,600,000 (estimated to be 11 February 2019) and distribute BTT to TRX holders at a ratio of 1 TRX = 0.11 BTT.

The TRC10 tokens come with some advantages over the TRC20 token protocol, which is the standard that is utilized for smart contracts within the TRON blockchain and the implementation of tokens on the network using the TRON Virtual Machine (TVM). The TRC10 protocol also offers ease-of-access for developers with transaction fees approximately 1,000 times lower than TRC20 tokens, making it ideal for those seeking to issue an initial coin offering.

Despite having launched in an enduring bear market, the ABCC exchange has gone from strength to strength with  24-hour trading volumes of around USD 25 million across 100+ trading pairs. With ABCC continuing to bring cryptocurrencies and blockchain technology into mainstream use, the offering of early access to TR10 tokens has added to its rapidly growing credentials.

 

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Image Courtesy: ABCC

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P2P Sharer BitTorrent Releases Details of Native Crypto

P2P Sharer BitTorrent Releases Details of Native Crypto

The pioneering peer-to-peer (P2P) file-sharing company BitTorrent has announced the creation of its own cryptocurrency with network speed and user incentives in mind, with technical details in a white paper.

Crypto for torrents

According to a blog post on the official website, the BitTorrent Token (BTT) will be exchangeable between users who wish to pay for more bandwidth on a torrent download. In turn, the prospect of payment gives users a reason to keep their file on the network post-download.

The move comes after cryptocurrency firm Tron acquired BitTorrent in June 2017. According to Justin Sun, founder of Tron and CEO of BitTorrent, this move is “the first in a series of steps” towards supporting decentralized internet services.

Speaking on the potential of the project, he also said: “In one giant leap, the BitTorrent client can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”

Initially, the token is to be launched through the µTorrent Classic client which is Windows-based and has the largest user-base. In addition, BTT will be fully supported on other clients that use the BitTorrent protocol, which also makes it backward compatible so that users who do not wish to engage with BTT do not have to.

 

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Should Ethereum Be Worried About Token Migration?

Although Ethereum is the ICO favored go-to platform, there is a trend emerging towards migration away from its native ERC20 token to home-baked alternatives once projects get underway.

Despite Ethereum’s undisputed dominance owing to the ease of setting up ERC20 tokens to facilitate ICOs, issues such as scalability and transaction speed problems, along with network clogging, have had the effect of driving ICOs to look elsewhere for a better solution.

Ethereum’s ERC20 technical standard has essentially been used by startups as a kind of incubator, it being the primary tool that allows creating tokens for trading.

One of the latest to take this route is the Kin Foundation, which boasts some 300 million monthly users of its Kik Messenger app. A spokesman for the Kin Foundation has explained that the company has been talking to exchanges to allow users that transfer their tokens from wallets to exchanges to forfeit the original ERC20 tokens to Kin’s own native KIN token on its own blockchain, although users can still sit hold their tokens on Ethereum as long as they wish with no time restraint.

KIN’s promotional PR suggests “incredible speed and scalability” along with security and scalability after the shift to its own blockchain. The concept of migrating in this way, of course, is not new. Others who have made this move, notably EOS and Tron, also took the migration route away from the Ethereum blockchain which got them up and running.

Since the launch of the EOS mainnet earlier this year, EOS have scooped up EOSBet, Medipedia, Tixico, Billionaire Token, Insights Network, WAX and Sentinel Protocol. Justin Sun, Tron’s founder and CEO, said that their shift from ERC20 protects their user’s interests.

T-21 days until Mainnet launch! #TRON will be one of the most competitive mainstream blockchains with the most users. We graduated #1 from the ETH platform with 1.08M+ users, more than OMG and EOS combined. ETH was just a prelude. Now for the main act 🎵😎$TRX pic.twitter.com/Oyj4XN1T7l

— Justin Sun (@justinsuntron) May 9, 2018

Sun added, “We will compete face to face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum.”

However, despite such fighting talk from Tron’s top man, the sheer size of the Ethereum blockchain means that it is unlikely that any sleep will be lost just yet for Ethereum backers but migration from ERC20 is a space well worth watching.

 

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Blockchain Charity Takes Center Stage at World Investment Forum 2018

The World Investment Forum 2018 which is staged annually by the UN Conference on Trade and Development (UNCTAD) was dominated by blockchain this year.

This year’s main event was entitled “Blockchains for Sustainable Development” and attracted keynote speakers who discussed the future of the technology. This year’s main speakers included Binance CEO Changpeng Zhao, TRON Founder Justin Sun, European Parliament member Eva Kaili, Bancor co-founder Galia Benartzi and UNICEF Ventures Lead Chris Fabian.

Binance CEO Changpeng Zhao announced that the company was focusing on delivering a more transparent approach to charitable donations, an area which dogged the industry for many years and had driven donors away. He spoke on UN’s sustainable development goals (SDGs) suggesting that blockchain can be the main driver towards changing entrenched practices of charitable companies:

“For the 17 SDGs, there is one underlying problem we’re trying to solve: transparency. Blockchain has many benefits but ‘transparency’ is the one word I want people to remember today. With increased transparency, charity will improve 100 times: 100x more efficient, 100x more donations and 100x more impact!”

Today at #WIF2018, @Binance CEO Changpeng Zhao @cz_binance launched a new platform that uses #blockchain technology to track donations, allowing people to see where their money goes and who benefits. “With better transparency we can achieve 100 times more results,” he said. pic.twitter.com/c3LQPWLDng

— UNCTAD (@UNCTAD) October 24, 2018

CZ, as he is affectionately referred to, has said elsewhere that blockchain predictions, similar to those about cryptocurrency, should be taken with a pinch of salt. He believes specialized ledgers will change the face of crypto space, taking over from large blockchains such as Ethereum.

Zhao argued platforms such as this using DLT is what people want to see in the future; places where donors’ money can be tracked by all parties. The new Binance platform will initially support BTC, BNB and ETH. Tron founder Justin Sun kickstarted Binance’s Charity foundation with a generous donation of USD 3 million, wanting “to donate money for good cause”. The CEO commented:

All of us here have made the decision to be leaders in shaping blockchain technology for social good. Binance Charity Foundation is taking substantial steps in that direction by increasing the transparency of donations so we can see where the goodwill of the donors is going and what impact it has.”

MEP Kaili saw hidden banking fees an area where blockchain can make some meaningful changes, arguing, “USD 130 billion of hidden fees are now the reality for the banking sector and any transaction you do. The potential to reduce that is huge. And blockchain could be one of the solutions.”

 

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