Here is how Tron (TRX) POS to DOS switch will affect the cryptocurrency

As the 11th largest cryptocurrency in the world, Tron (TRX) has been making headways and headlines in the cryptocurrency sphere for some time now. Tron (TRX) recently launched its new Mainnet platform assisting the blockchain technology company get significant media attention and market penetration after the launch.

After launching it mainnet project, Tron (TRX) also launched its Virtual Machine project with some other ongoing projects in the pipeline, that is to include Tron’s Super Representative election.

Over the past few months, Tron (TRX) has managed to secure a lot of significant listings and partnerships, launching its official TronWallet recently for its Android users. Information from Tron (TRX) tells us that a similar mobile wallet will soon be available to iOS users.

Proof-of-Stake (POS) Vs. Proof-of-Work

One of the areas this article will try and shed more light on is the highly contentious consensus validation methods within the virtual currency ecosystem. For the longest period, there was a simple contradiction between Proof-of-Work and Proof-of-Stake better known as POS.

While the later is known for being more flexible and scalable, the former is said to be more expensive and difficult to execute. But as PoS technology continues to grow and evolve becoming more and more enhanced, the virtual currency community began to request that PoS upgrades its systems to a more secure platform to become the preferred automatic transaction authentication blockchain method.

Conceding from the community’s pressure, PoS upgraded their systems to a more secure level ensuring they were safe from simple attacks and vulnerability on their platform.

And just like the requirement that was given by the crypto community, PoS started converting many institutions and companies to their Proof-of-Stake platform to grow and emerge as the most operational validation network available on the blockchain environment.

But as time goes by, the competitive landscape is changing as well. It is no longer a battle between PoS and PoW, rather a new crop of verification networks is emerging to give institutions newer avenues and platforms to validate transactions and settlements on the blockchain.

More specifically, the emergence of Delegated Proof of Stake (DPoS) into the validation method space has not only changed the playing field but has added introduced democracy as a new factor into the equation.

Recently, Tron Foundation came clear of their intentions to dump PoS for DPoS. PoS has been the prior default validation method used by the Tron blockchain.

The decision to shift to DPoS has caught many by surprise in the cryptocurrency world with reports telling us that the decision to undertake this iconic move was influenced by the in-depth study of the advantages and differences between the two validation methods.

It was on the weekend that Tron foundation disclosed to the world through their Twitter page that the DPoS network would be good for them as it would allow Tron community members to cast their vote in the incoming SR elections.

PoS, like Tron’s (TRX) previous default protocol, miners used to use their own tokens on a block if they wanted to verify the settlements associated with the block. Depending on the length of the transaction and the amount involved, they would then choose one miner to verify the transaction using sophisticated methods to come to that conclusion.

The decision by Tron (TRX) to adopt DPoS is expected to have a weighty and positive effect on the blockchain technology and the public’s perception of the entire consensus validation procedure.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Is Shorting Bitcoin (BTC) on BitMEX Hurting The Entire Crypto Market?

The crypto exchange known as BitMEX has on two occasions traded over 1 Million Bitcoin (BTC) in a single day. The first time BitMEX made this milestone was on the 25th of July and they made the announcement via Twitter as follows:

This feat was again repeated on the 8th of August when the exchange once again traded over 1 Million BTC in a single day. This was after the SEC delayed their decision on a Bitcoin ETF. A screenshot of the daily volume on that day can be found below.

BitMEX 1 Million BTC trade volume. Source, coinmarketcap.com

The CEO and Co-founder of BitMEX, Arthur Hayes had this to say with regards to the 1 Million BTC milestone when it was reached for the second time:

“Once again meeting our own record of 1 million bitcoin traded within 24 hours is a major milestone for the crypto-coin market and testament to the strong community BitMEX is growing. In continuously engaging with, and truly listening to, the needs our customers, we’ve recognized an overwhelming demand for innovative financial products that give the crypto market greater versatility.”

So how is BitMEX doing 1 Million BTC trades in a day

Further dissecting Mr. Hayes last comment above, we find that the exchange has been offering innovative financial products that give the crypto market greater versatility. This includes products that short Bitcoin. Shorting involves the betting on the fact the price of an asset will continue to decline in a bear market. Rather than trading on an up-trend, you short your position and hope it continues to decline, thus profiting from it.

Further researching on the two dates that BitMEX experienced the 1 Million BTC trades (July 25th and 8th of August), we find that Bitcoin was going through phases of decline in the markets. Therefore, the big question is, is BitMEX to blame for the declining value of Bitcoin or are savvy traders making good use of their shorting capability?

The latter is a more plausible reason as to why BitMEX is trading such a high amount of BTC in a single day. What possibly happens during periods of Bitcoin decline, the majority of the crypto-communities communicate via Telegram and they all head to BitMEX to short Bitcoin en masse. There are plenty of chat groups and channels that advice traders on when it is the best time to short BTC.

Therefore, BitMEX is only providing versatile investment products that hinge on the decline of digital assets. Perhaps it is time we all learned how to short our favorite coins during periods of turmoil so we can also benefit.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Free Consultations for Blockchain Companies? Bitcoin PR Buzz to the Rescue

Bitcoin PR Buzz, the Bitcoin PR agency that started it all, announced that it recently provided free one-hour strategy consultations for those interested in making use of blockchain technology to expand the scale and impact of their business model in a changing world. For entrepreneurs who just started up a company that aims to make use of revolutionary blockchain technology, but needed the experienced eye of an expert, this is a game changing offer.

Remarkably, there are absolutely no strings attached.

Bitcoin PR Buzz is an agency that has been in the business for a half decade, specializing in providing strategic communications and public relations for those involved in the blockchain. Through that process, Bitcoin PR Buzz has gained tremendous expertise and has begun to share that expertise with motivated entrepreneurs.

On August 6, 2018, the agency offered special one on one public relations and marketing consultations totally free of charge and with utterly no strings attached.

Those who managed to take advantage of this special offer were able to meet with an expert account manager over Skype. Account managers involved in this process are understood to have deep experience working with companies integrating blockchain technology.

Many other important skills are involved in this process and were available to those working with the experts at Bitcoin PR Buzz.

For example, those involved gained access to valuable expertise related to social media presence, white paper construction, and platform design. Entrepreneurs also benefited from gaining a competitive advantage through a landscape analysis that will have taken advantage of deep expertise about rival organizations, their strategies, and their vulnerabilities.

In addition, we are talking about an expert PR company. So you can guess that strategic communications were a big part of the product.

For those reading this who feel like they may have missed a remarkable opportunity, there’s no need to fret: due to excessive demand, Bitcoin PR Buzz has begun to offer a new platinum executive package that offers all of these powerful values wrapped into a single powerful package. As we see it, this may well be the most effective and comprehensive PR and featured article package available anywhere in the blockchain world.

With this package, you could benefit from a host of powerful features, including: 11 featured articles on top-tier Bitcoin media, 11 featured, unique articles written and published for you on CCN.com, BitcoinNews.com, CoinCodex.com, globalcoinreport.com, ambcrypto.com, Blokt.com, OracleTimes.com, Bitsonline.com, Coinspeaker.com, NullTX.com (formerly TheMerkle.com), and CoinIdol.com. PR publication on major crypto news sites including CCN.com, BitcoinNews.com, Coinspeaker, Criptonoticias, Criptomoedas Facil, ZYCrypto and much more. PR publication on Reuters.com, FOX, NBC and 500 other mainstream news sites. PR sent directly to newsdesks of over 500 outlets such as New York Times, Forbes, CNN and Bloomberg, and your company going viral on social media with full Twitter tracking link supplied.

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