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TRON (TRX) to Release Version 1.0 of the Sun Network on August 10

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TRON

TRON

According to TRON (TRX) founder Justin Sun, the company is planning to launch Version 1.0 of the Sun Network on August 10. The founder took to Twitter to make the revelations, indicating the Sun Network was one of the 100X scalability solutions of TRON. The network is expected to be optimized on September 15.

Scalability Solution to Enhance Transfers

The Sun Network is a fast blockchain solution for smart contracts, distributed apps, and cross-chain activity. Justin Sun indicated that the solution will also include the DappChain that will allow developers to use the 1.0 code in creating a sidechain system that enhances the speed of distributed apps.

Equally, it is expected that the chain will use DPoS mechanism, which will ensure there is quick verification of transactions. User security and fluidity of transfer of tokens between chains will be enhanced through the smart contracts on the sidechain and main chain. Also, another amazing feature about the Sun Network is its ability to support costless transactions.

However, despite this positive news, TRX price did not change, and it remained rooted around $0.022, trading even lower against Bitcoin.

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TRON Continues to Perform Poorly

It, therefore, remains to be seen whether the launch of the Sun Network will turn fortunes for TRX. Prior to the announcement, anticipations for the launch failed to enhance interest for the altcoin following the plunge of altcoins in recent Bitcoin surges.

Currently, the TRON Network has been working on the implementation of Tether (USDT) on its platform while providing a special incentive plan for holding onto TRON-based USDT. The incentives are relatively limited because the amount of TRON-based USDT that is held in user wallets is limited.

TRON also felt the effects of the recent Binance IEO, WINk, and it dropped immediately and has since been hovering around 3 Satoshis with very minimal activity. The project has raised skepticism because of its unusually large staking rewards and the possibility of breaking monitoring restrictions.

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TRON Partners With Metal Pay to Enable Instant Purchase of TRX

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TRON

TRON

Over the past few years, TRON (TRX) has emerged as one of the more promising cryptocurrencies in the market, and today, there was another landmark announcement regarding the token. According to the announcement today, TRX has partnered with Metal Pay, a cryptocurrency service provider, and the agreement is expected to be beneficial for the cryptocurrency.

Major Details

By way of this agreement, users on the Metal Pay mobile application will be able to purchase TRX with fiat currency. This is a major development because it opens up TRX to a far bigger pool of investors and could have an effect on its price as well.

In this regard, it should also be pointed out that people who hold TRON can also earn 5% cash back in the form of MTLs, which are Metal Pay’s very own tokens. The Metal Pay platform offers other useful services as well. Users who hold TRX will be able to use the platform’s exchange to turn it into 20 other cryptocurrencies.

Cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) are included among those. Metal Pay has emerged as one of the more promising platforms in recent times, but it remains to be seen if TRX can manage to benefit from this partnership.

However, there are some things that need to be kept in mind by potential users of Metal Pay. A spokesperson for the company stated that identity verification will need to be completed in order to sign up for the service. Users need to make a bank account that is insured by the Federal Deposit Insurance Corporation in order to use Metal Pay.

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Once identity verification is completed, a user can buy cryptocurrencies worth as much as $3,000 per day, $12,000 each month, or $40,000 a year. This is a service that will allow users to buy TRON tokens easily in exchange for fiat.

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BitTorrent Token (BTT) to Power Expedited File Sharing on TRON Network

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BitTorrent

BitTorrent

BitTorrent Token (BTT) has taken a significant hit in recent weeks after hitting peak levels in May. While a crash to new lows against Bitcoin (BTC) is a point of concern, the software company behind the token is already looking into the future.

BitTorrent Speed

The TRON subsidiary has launched BitTorrent Speed, a new crypto powered approach designed to enhance peer-to-peer file sharing. The speedy software seeks to scale up upload and download speeds within the TRON network.

Millions of users stand to enjoy fast and uninterrupted access to files on the network with BitTorrent Speed. Users also stand to be rewarded for any activity carried out on the network with BitTorrent Token.

In a press release, BitTorrent notes that users should expect fast systems that can allow the downloading of tons of megabytes in a split second. In addition to enabling fast downloads, the new software will also help make downloads readily available.

The unveiling of BitTorrent Speed marks an important milestone as part of the BitTorrent and TRON network partnership. The two came together with the ultimate goal of scaling up browsing time on the web. This marks an important step towards creating the largest blockchain-based app to support fast downloads and uploads.

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BTT Token

The unveiling of the new software should help ramp up support for the BTT Token, which is the native cryptocurrency for the network and key to faster downloads.

“Something I have noticed is the $BTT Reddit is filled with discussion about the utilization of the technology from real-world users, not talk on trading. It cannot be denied that this coin has the potential for the most significant mass adoption we have ever seen. #Bittorrent,” said crypto trader Jasper.

While the crypto-coin has come under pressure in recent months, there are plans to distribute the token through a series of airdrops as well as through the BitTorrent ecosystem. Currently, there are about 21% of BitTorrent tokens in circulation in the market.

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TRON (TRX) | Is it the Right Time to Buy Ahead of Key Catalysts?

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TRON

TRON

Over the past year or so, TRON (TRX) has grown into one of the most promising cryptocurrencies in the world, and experts believe that it has not yet reached its full potential. In addition to that, the fact that TRON separated from Ethereum completely has also been regarded as a monumental step in the development of the project.

For those who have watched the growth of TRON closely, the decoupling from Ethereum was regarded as the cryptocurrency’s ‘Independence Day,’ and there was optimism that it was going to go on a sustained bull run.

Justin Sun is Bullish

Although the bull run did not happen, there is a lot of optimism among those who have invested in TRX and, more importantly, TRON founder Justin Sun has stated that the cryptocurrency is on course for significant breakthroughs. Sun is known for making bullish comments quite frequently, and his comments are usually taken with a grain of salt.

However, this time, experts believe that he may actually be on the right track. In this regard, it needs to be stated that the acquisition of BitTorrent was one of the most significant deals that had been done by the company and BitTorrent could play an important role in TRON’s growth in the future.

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BitTorrent: A Key Catalyst?

According to Justin Sun, the official launch of BitTorrent Speed is going to be the most significant event in the company’s recent history, and so, July is all set to be a big month for TRON. Moreover, the Power of One Lunch in collaboration with eBay and Warren Buffett is going to be another event that could have a major effect on TRON. BitTorrent Speed will see the first major use case for cryptocurrencies at a significant level, while the Power of One Lunch will see Warren Buffett turning into a backer of crypto from his historical quite critical standpoint on cryptocurrency.

In addition to these events, TRON has also recently backed developers to use its blockchain to build apps, and recently crossed eight million users. Once the 100 million users on BitTorrent are added to the existing pool, the potential of TRON could get unlocked pretty fast. Other than that, the partnerships with LATOKEN, a multi-asset trading platform, and Certik, which is engaged in blockchain audit, could prove to be other important factors in TRON’s rise too.

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TRON (TRX) Slumps Over 10% After Justin Sun’s Banking Fiasco

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TRON

TRON

Over the course of the past few years, a wide range of altcoins have come into existence that have made the crypto ecosystem a bit less dependent on Bitcoin, and TRON (TRX) is definitely one of those.

Why the Sudden Fall?

The crypto token TRX has grown in stature over the years and is now regarded as one of the leading altcoins in the world. However, it has not had a particularly great time today, and its value has plummeted significantly due to the wider crash in the market that has been led by Bitcoin. TRX has plunged by as much as 10.5% and at one point was trading at just $0.01715 per token.

The general crypto market has quite volatile over the past few months, with big gains often being followed by big crashes. Bitcoin fell by as much as 5% within the matter of a few hours today, and that resulted in a wider crash in the market, as is so often the case.

That being said, it should be mentioned that the fall in TRON may be attributed to other causes besides Bitcoin’s crash. Earlier on today, news broke that several important members of the cryptocurrency industry were going to lose access to bank accounts.

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The founder of TRON, Justin Sun, is among those who will no longer have access to his bank account. This is a particularly significant development and one that could have far-reaching consequences for the entire project. The founder of the TRX project went on the social media platform Twitter and stated that despite having held an account for as long as eight years, his bank, the Bank of America, is going to close his account.

Bank of America has not provided any explanation with regards to its actions, but it is believed that banks are now cracking down on accounts that are directly related to the cryptocurrency industry.

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TRON’s CEO Debunks Association with Billion Dollar Ponzi Scheme Scam

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TRON

TRON

While responding to an allegation that Tronfoundation and BitTorrent are involved in a billion-dollar Ponzi-scheme scam that defrauded thousands of investors in China, Justin Sun, TRON’s CEO, says both companies are “fine.” According to the CEO, preparations were being made to launch BitTorrentSpeed on July 8, so people should stop publicizing fake news and pictures.

Justin Sun Says Tronfoundation and BitTorrent are Fine

In a tweet on July 8, 2019, Justin Sun debunked the rumors that began earlier in the day. The CEO claims that Tronfoundation and BitTorrent are fine and plans are currently being made to launch BitTorrentSpeed, an engine that will reward BitTorrent users with BitTorrent (BTT). Sun further outlined that people should stop disseminating fake news and pictures about the blockchain company.

The news, on the other hand, which was circulated by several reputable media outlets, informed that Chinese police raided TRON’s office in Beijing, China. The raid was a result of a Ponzi-like scheme called Wave Field Super Community, defrauding hundreds of thousands of its investors. The scheme began in January this year and ended last week. It is believed that its organizers made away with at least 200 million CNY ($30 million) of investors’ funds.

TRON’s part in all this is that the scam took advantage of the name “Wave Field,” which is usually used to describe the blockchain company in China. As a result of using the same brand name that TRON is known for in China and making claims that the scheme is TRON’s Super Representative, investors were led to believe that it is also owned or supported by TRON.

Sun Refused to Disassociate TRON and BitTorrent from the Scam

Similarly, Justin Sun, who was asked in the past to confirm his company’s relationship with the platform, refused to do so and only spoke up on July 1, 2019, a day after the scam packed up. On the said date, Sun posted on social media platform Weibo warning investors to be wary of Ponzi-like schemes that took advantage of the TRON name. However, he did not outrightly point out Wave Field Super Community as one of them.

There are now claims that TRON’s CEO had refused to publicly disassociate TRON and its other company, BitTorrent, from the scheme because TRX, TRON’s crypto-asset benefitted from it. The company’s cryptocurrency was allegedly purchased and then dumped into the scheme in hopes of making huge returns.

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Single Parent Purportedly Commits Suicide After Loss to Ponzi Scheme

Aside from the loss of funds on the part of investors, it is alleged that a woman named Xia Bing, who was also an investor in the scheme, committed suicide. On July 1, 2019, her photographs and suicide note went viral on messaging website WeChat. The deceased is reportedly a middle-aged single parent who borrowed money from a neighbor to invest in the fraudulent scheme.

This article was curated through CryptoCurrencyNews’ Contributor Program. If you would like to write for us, send us your submission!

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TRON (TRX) Recovers After the Recent Sell-Off

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TRON

TRON

The cryptocurrency space has been in a bit of turmoil over the past week or so due to a variety of reasons, and the pressure was felt by TRON (TRX) as well. On Monday, there was a massive selloff in the token, and there were concerns over whether the crypto market still believed in the project or not.

However, things have now improved, and the TRX token has now managed to get back to $0.0163 per token. That being said, experts do not actually believe that the token is primed for any kind of bull run at this point in time. That being said, TRON has soared about 20% over the past three trading sessions.

TRON had a 10% fall on November 19 after the founder of the coin, Justin Sun, was among those who would no longer have access to his bank account.

Key Analysis

When the price of TRON actually dropped earlier this week, some keen watchers of the token had observed that the price action was a case of shaking out the weaker traders in the market.

While that may be the case, it should be noted that traders have now returned, and it cannot be doubted that the market still believes in the whole project.

At the end of the day, the viability of a token is closely tied to the project that is backed by it, and hence, the rebound by TRX this week is a welcome development for its traders. Another reason behind the fall in the price of TRX was the action against the smaller Chinese crypto exchanges. Additionally, the swirling rumors with regards to IDAX and Gate.io did not help matters for the cryptocurrency either.

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On the other hand, there was also a significant outflow of TRX from Upbit, a South Korea-based exchange, and that has also been cited as a reason behind the selloff in TRON on Monday. It remains to be seen how the coin will perform over the weekend.

At the time of writing, TRON is trading higher by 13% at $0.163.

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TRON VibraVid | John McAfee Gets Behind TRON’s Upcoming Platform

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Tron VibraVid

Tron VibraVid

The cryptocurrency world is noticing TRON. The blockchain network is developing a host of new legitimate platforms on its protocol. Now, notorious crypto enthusiast, John McAfee, loves one of the latest: TRON’s VibraVid platform.

TRON’s VibraVid and Further Protocol Developments

One of TRON’s most anticipated projects is BitTorrent Speed (expected in Q2 according to the website). Its purpose, as detailed on the website, is to reward “BitTorrent users with BitTorrent (BTT) in exchange for seeding and bandwidth, enabling faster downloads.”

The bandwidth sharing application is expected to lure millions of new people to the blockchain industry.

BTT, the token behind the application, is listing on dozens of exchanges at the same time that TRON’s dApp projects continue to grow.

Enhancing the entire TRON network, then, is an upcoming hardfork, which is expected to enhance the security and overall performance of TRON.

John McAfee and TRON VibraVid

As stated, John McAfee has taken notice of TRON’s developments, but one venture has caught his eye in particular.

The crypto bull expressed his adoration for the TRON VibraVid platform, saying “I do love this” in a Twitter response to the platform’s team.

VibraVid

VibraVid is an upcoming decentralized content sharing platform, “a decentralized answer to the industry giants like YouTube.” Powered by BeatzCoin (BTZC), the platform gives content creators a way to upload, market, and sell their content to fans or users. BTZC tokens are exchanged between artists and consumers directly, for the use of digital content. The idea is that the entire platform will act as a hub for artists such as musicians, who can control and monetize their works.

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Clearly, John McAfee gets behind artists controlling their own assets on these types of sharing platforms.

TRON is the 9th largest cryptocurrency by market cap. At the time of writing, TRX is trading at $0.023 USD per coin according to CoinMarketCap.

Are you a fan of TRON? Do you think TRON’s VibraVid platform will be successful?

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TRON (TRX) Launches the Sun Network V1.0 Sidechain Scaling Solution

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TRON

TRON

TRON (TRX) has announced the release of the Sun Network V1.0, which is a sidechain scaling solution officially being introduced by the TRON Foundation.

Sun Network V1.0 to Offer Unlimited Scaling Capability

The Sun Network V1.0 released is expected to enhance and offer unlimited scaling capacity to the platform’s mainnet. This will supposedly ensure dApps are running efficiently with high security while at the same time consuming less energy on TRON. Since the Sun Network V1.0 integrates several scaling projects such as smart contracts, cross-chain communications, dAppChain, and optimized application sidechain, it will offer 100 times scalability solutions to users.

The Sun Network is different from other scaling solutions because of two distinct features. To begin with, it enhances smart contract transactions with the main focus being to improve the TPS of the transactions on the mainnet, and it significantly lowers transaction fees. The other distinct feature is the ability of the sidechain enabling requirements to be personalized, such as transaction rates, setting sidechain incentives, as well as confirmation of speed, among other characteristics.

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Scalability Solution Growing in Adoption

The expansion plan for the second layer scalability solution was initially revealed by TRON this spring with a testnet launch of the network done in late May. The company stated at the time that it had plans to unveil an optimization process for enhancing the ability to use the network as well as facilitate the deployment of sidechains by September. Generally, the solution will offer unlimited scalability to the mainnet, which will thus ensure there is an array of possibilities for the dApps as well as the entire ecosystem.

TRON’s CEO and Founder Justin Sun said that since the launch of TVM in October last year, there are over 500 dApps on the network. He says that the total account number on the network is close to 3 million with over 410 million secure transactions taking place since the launch of the mainnet.

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TRON (TRX) Drops After Meeting Between Warren Buffett & Justin Sun Fails

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TRON

TRON

TRON (TRX) has enormous potential, but in the last 24 hours, things have been rough, and the altcoin dropped by over 22%. The drastic drop is a result of the latest developments that involve Justin Sun and the botched lunch with Warren Buffett.

Botched Lunch Meeting Hurting TRON Price

Most of the time, the value of altcoins drops when Bitcoin price is also dropping. Although it is sometimes hard to ascertain why the value of Bitcoin is declining, when it comes to altcoin dips, things tend to be more clear. For instance, the latest decline for TRON is fundamentally a result of the anticipated Warren Buffett-Justin Sun lunch that failed to happen.

Justin Sun was scheduled to have lunch with Warren Buffett with the objective of convincing the skeptical Buffett that crypto is not a scam and the industry deserves to be treated with respect. There was a lot of expectation regarding the meeting, with many expecting it to push the price of TRON higher in the coming days.

Sun Under the Radar of Chinese Authorities

In the end, the fabled meeting didn’t happen, after Sun took to Twitter announcing that he wasn’t able to attend the $4.5 million charity lunch because of health issues, which were cited to be kidney stones. Other reports claim that he was not able to attend because of a wrangle with Chinese authorities where the special committee for internet safety charged him for illegal fundraising, money laundering, gambling, and spreading pornographic material.

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With lunch not happening, expectations have been dashed, and the value of TRON has significantly declined. In the past week, the altcoin dropped around 3% but the last 24 hours have been worse, seeing TRX drop up to 20% in value, all of which spells bleak days ahead. The downward trend is expected to continue in the coming days because of the rumors and speculations being spread on the internet regarding the canceled lunch.

At the time of writing, TRON is trading at $0.023362, down 22% in the past 24 hours.

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