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The Top Performing Altcoins This Year so Far

The Top Performing Altcoins This Year So Fa

With the first quarter of 2019 gone, here is a look at the top performing altcoins so far this year, taking into consideration Bitcoin’s bullish strides in the last week or so:

Highest adoption rates: 1)EOS, 2)Tron, 3)BitShares, 4)WAX

Research from Weiss Crypto Rating shows these four altcoins have experienced the highest adoption rates in the last year, proving most sustainable throughout the predominantly bear market time period.

EOS transactions ranked top of the list, the volume increasing from 7,000 per day to about 4.6 million. Tron boasted an increase from around 3,000 to 1.9 million in this time, while BitShares boasted a gain totaling nearly 1.5 million. WAX, with the fourth largest transaction increase, claimed a total of 4.4 million.

Overall, the top 10 cryptocurrencies by transaction volume had an average daily volume increase of 245% within the last year. Weiss’s calculations were based on a seven-day moving average of daily figures.

Highest value increase since the Bitcoin pump

The cryptocurrency market has finally made a rebound thanks to Bitcoin’s bull run, hitting highs not experienced in over a year. Taking with it many of the altcoins, here are the top performers from the top 100 by market cap:

1) VestChain – 95.02%

If you have not heard of VestChain before, that is not surprising; it holds the 98th position on CoinMarketCap. However, since the most recent Bitcoin boom the project has been showing real potential, gaining a huge 95.02% in just the last few weeks

2) Bitcoin Cash – 89.66%

Unsurprisingly, Bitcoin’s recent performance has given investors renewed faith in Bitcoin Cash also, with the altcoin gaining 60% in the 24-hour market rally alone.

3) IOST – 66.19%

On top of the benefits brought from Bitcoin’s performance, IOST has been enjoying a pump triggered by the launch of its mainnet several weeks ago.

4) Dogecoin – 63.77%

After a non-eventful start to the year, Dogecoin has turned it around, climbing over 60% thanks to the bullish market. Tesla founder Elon Musk has also thrown his support behind the token, describing it as ”pretty cool” and probably his favorite cryptocurrency.

Altcoins separate from Bitcoin’s movements

Despite Bitcoin pulling up altcoin performance in the last few weeks, new research has shown that the prices are no longer as correlated as they once were. In 2018, 75 percent of the top 200 coins had a strong correlation with Bitcoin, something comparatively lower this year. This is a good thing for those with or looking to gain diversified portfolios as uncorrelated investments frequently cancel each other out.

This could affect the performance of altcoins throughout the year, with stronger projects likely to be able to make significant gains even if Bitcoin loses momentum.

The research notes, however, that correlations change with time so it is important to keep an eye on the ongoing market trends.


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Tron Founder Hints at Ethereum Collaboration

Tron Founder Hints at Ethereum Collaboration

Tron platform founder Justin Sun is not ready to leave the crypto limelight just yet as this time, he has fueled the rumors of a collaboration with veteran smart contract and decentralized application (Dapp) platform Ethereum.

In a podcast interview with Rachel Wolfson aka the Crypto Chick, Sun was talking up the Tether stablecoin on Tron but also touched on the potential for a future collaboration with another smart contract platform:

“First of all, everybody knows that Tron and Ethereum compete in the Dapp [sector], for sure. But I think definitely that this competition will result in a better product – the competition between Ethereum and Tron benefits the whole industry.”

Social media was a recent playground for mild jabs taken by the Ethereum co-founder Vitalik Buterin and Sun, with followers on both sides of the camp poking fun at each other’s claims, typically that of decentralization.

Toward a brighter tomorrow.

— Vitalik Non-giver of Ether (@VitalikButerin) April 1, 2019

Sun himself made light of the Tweet during the podcast, claiming that he was into “the true love, and the brotherhood of the industry”. He insisted that this brotherly love could one day culminate in friendly cooperation to improve the industry:

“So I think that in the future we will even collaborate with lots of the Ethereum developers, and also the enterprises built on Ethereum before if we make the industry better.”


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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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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

— 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.

— 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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BitTorrent Will Start Paying Users Crypto For Seeding

The popular peer to peer file sharing site BitTorrent, which has hundreds of millions of users, is launching Project Atlas, where BitTorrent will merge with blockchain technology. BitTorrent will be offering Tron (TRX) as an incentive for seeders, which will create a paradigm shift in the filesharing industry. This follows the acquisition of BitTorrent by Tron, the 13th most valuable crypto with a market cap of USD 1.5 billion, in June 2018.

BitTorrent and other torrenting sites have always had an incentive for seeders to upload faster since they would be able to download more quickly. Now BitTorrent seeders will be paid TRX for seeding files longer, as well as seeding with higher bandwidth and dedicating more of their computer storage to BitTorrent. This is a new and exciting idea for the torrenting industry, never before have users been able to earn money by seeding files. This should re-invigorate the number of seeders and download speeds on BitTorrent.

Further, users will be able to pay TRX for faster downloads. This TRX will be paid towards the seeders, fueling the system where seeders are paid for their services. It’s a win-win situation, downloaders will get their files much quicker, and seeders will earn money for facilitating that.

The CEO of Tron, Justin Sun, says “Project Atlas is the foundation for a new way of content distribution. To start, the product will feature faster downloads, more seeds, no mining, and backward compatibility. It is adapted to the world we live in today: mobile, connected, and transparent. We aim to eventually empower all content creators and their communities by eliminating the middleman and enabling content creators to distribute directly to users”.

As Sun says, BitTorrent users who choose to use old clients that don’t have TRX technology will still be able to use the network, making Project Atlas fully backward compatible. This is a good decision, since torrenters often stick to a client that works for them and generally don’t check for updates, so previous users who like their client will stay on the network. However, due to the exciting prospect of earning money by seeding, it is likely many users will upgrade.

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Tron Reportedly Claims Stake in BitTorrent Inventor Project

Recent reports have revealed that the recent acquisition of BitTorrent by Tron has gone a step further with news of Tron getting a stake in the BitTorrent’s ex-owner’s latest cryptocurrency project, the Chia Network.

Latest information

Bram Cohen, BitTorrent’s inventor, was reported to have officially stepped away from the company in mid-August and has continued to pursue his own cryptocurrency project named Chia. However, it appears as though Tron is still interested in Cohen’s works.

The Chia project dates back to 2017; Cohen had already left BitTorrent to work on it though he had remained a board member.

Information obtained by CoinDesk indicates that Tron’s Justin Sun has also acquired a stake in the Chia Network, although this information has not been publicly disclosed by either company.

The acquisition deal between BitTorrent and Tron apparently also included a “full release” of some of its intellectual property (IP) with the right for Tron to invest USD 50,000 in Chia under a Simple Agreement for Future Equity (SAFE).

With regards to what IP had been exchanged and what exactly this implies, a Chia Network spokesperson told CoinDesk, “There has been no license or assignment of rights from BitTorrent to Bram [Cohen] or Chia. All software and related intellectual property rights used internally or distributed by Chia was either developed by Chia employees or contractors, licensed from third parties or was available in the public domain. Chia has committed to open source.”

Prior to this, the merger documents show that at the time of acquisition, Cohen owned 31% of BitTorrent’s common stock; holders received USD 29,343,986 of the USD $199 million sale.

Internal affairs

In June, Tron acquired the peer-to-peer sharing platform for an undisclosed amount. Later on in July, Justin Sun wrote positive sentiments in the official announcement from BitTorrent, describing BitTorrent as the embodiment of Tron’s digital strategy and touting it as the “genesis of the decentralized movement”.

A month later, reports emerged describing something of a walkout on the part of existing BitTorrent staff members. Sources at BitTorrent described a situation in which some of the staff, including upper-level management, had been leaving the company. Other senior members of staff are bound to an 18-month lock-in period contract.

It was speculated that Cohen’s departure had created a concern amongst employees who did not see eye-to-eye with the future direction Tron wishes to take BitTorrent, as well as the plans to expand the team by almost double.


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More Staff Exits Follow BitTorrent Inventor’s Departure After TRON Acquisition

Staff departures appear to be picking up at the world’s largest peer-to-peer (P2P) sharing network BitTorrent after a publicized takeover in July by blockchain company TRON.

BitTorrent was acquired for USD 140 million by TRON, a blockchain-based entertainment content sharing platform that also utilizes P2P network technology.

Inventor’s quiet departure

In late July, a BitTorrent blog post announced the TRON acquisition. The coupling appeared to be a match made in heaven, especially according to TRON founder Justin Sun who at the time wrote a letter to the community, giving high praise to BitTorrent as being the “genesis of the decentralization movement”.

He added, “The BitTorrent acquisition embodies TRON’s “All-In Decentralization” strategy. TRON and BitTorrent share the same vision for a decentralized Web.”

In under a month, internal affairs that appear to be related to the acquisition are causing quite a stir. On 19 August 19, TorrentFreak exchanged emails with BitTorrent inventor Bram Cohen, who confirmed he had stepped away from TRON and BitTorrent.

His resignation had come in a quiet fashion, causing speculation of whether or not Cohen had been forced out, or for another matter that all parties concerned would rather not announce.

Domino effect?

Following this, recent headlines have reported further developments since Cohen’s exit and according to “multiple sources”, at least five employees have left the company. According to the source, those who left were positioned in management positions and were key players in their departments.

Reportedly, three employees quit outright and two were fired. The source indicated that the departures were in relation to the acquisition as well as the future plans for BitTorrent under TRON’s leadership.

Additionally, the source speculated that there could be more leaving if there wasn’t an 18-month lock-in period contracted for the senior management team. Accordingly, the chief executive officer, chief product officer, chief revenue officer and the chief financial officer can’t quit their roles until the end of their contracts.

Looking at BitTorrent’s company profile on LinkedIn, there are 35 positions open which indicate that TRON is expanding the approximately 49-strong staff at BitTorrent. Jobs posted include a number of senior titles such as Senior Director of Product Management and Senior Software Engineer, as well as many other software and marketing roles.

Sources claim that employees “fear” the expansion will cause a shift in the companies existing working culture; furthermore, these sources also cite TRON’s “marketing techniques and messaging” as other concerning factors.

A TRON representative told CoinDesk, “Tron is committed to the BitTorrent product and user community. We have been growing rapidly since the acquisition, as one family, to meet our vision for a decentralized future.”


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TRON Founder Buys BitTorrent for Undisclosed Sum

The founder of the TRON cryptocurrency, Justin Sun, has acquired the peer-to-peer file sharing platform BitTorrent for an unknown amount of money.

TRON aims to build a decentralized entertainment ecosystem where content creators can freely publish, store, and sell their content while directly interacting with consumers via issuing and trading digital assets. The peer-to-peer file sharing protocol of BitTorrent would naturally fit into TRON’s goals since BitTorrent’s protocol can make the storage and distribution of entertainment content far more efficient.

The timing of the BitTorrent acquisition is quite interesting since the launch of TRON’s native blockchain and platform is on 24 June 2018, less than two weeks from now. The deal has been in the works since September 2017, however, and Justin Sun signed a letter of intent to purchase BitTorrent in January 2018. There was a no-shop clause on the letter of intent, which means BitTorrent was not allowed to look for higher bidders, but BitTorrent violated this clause and a legal battle ensued. The lawsuit was recently dropped to make way for the acquisition.

TRON (TRX) is the 10th most valuable cryptocurrency with a market cap of USD 2.9 billion and daily volume in excess of USD 100 million. The TRON Foundation controls USD 1.65 billion worth of TRX. It is unknown whether Justin Sun used TRX from the foundation’s funds for the BitTorrent acquisition. An official announcement is expected soon which should clarify this.

BitTorrent was one of the most popular torrenting sites on the internet in the past, with tens of millions of active users that consumed over 3% of global bandwidth, more than half of the 6% of global bandwidth allotted for file sharing. BitTorrent has declined in popularity since then and lost most of its user base.

The acquisition might save BitTorrent, which has now been renamed as Rainberry. The file-sharing technology behind BitTorrent is still efficient and useful regardless of the company’s struggles and could be put to good use if integrated into the TRON platform.


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