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BitTorrent

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

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.

Featured image: DepositPhotos © kentoh

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TRON

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

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!

Featured image: DepositPhotos © sdecoret

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TRON

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

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.

Featured image: DepositPhotos © giggswalk

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China's Cryptocurrency Rankings

China’s Cryptocurrency Rankings | EOS Comes Out on Top

EOS still maintains the top spot in China’s cryptocurrency rankings list. The superpower updated its list last week, proving that EOS is still the favorite. Bitcoin has climbed up three places and now sits in 12th position.

Considering Bitcoin is up 10% to press time and approaching the $9k mark, its a wonder why it hasn’t ranked higher on the list. Well here’s why:

China’s Cryptocurrency Rankings

The rankings list assesses three criteria: technology, application, and innovation.

The top five were as follows: EOS, TRON, ETHEREUM, STEEM, and ONTOLOGY.

Despite the original cryptocurrency Bitcoin being the leading coin by market cap, it only managed to place in 12th. It scored well for creativity but lacked in basic technology.

The rankings are funded by China’s Ministry for Industry and Information Technology and were released by the Center for Information and Industry Development.

Moving forward, the body plans to update the list once every two months instead of monthly.

Eos has held the top spot since June 2018, while Tron has managed to stay in second place since February 2019.

Crypto’s In Green

The entire cryptomarket is experiencing double-digit gains today. China’s cryptocurrency rankings favorite, EOS is up 17.67% and selling for $7.45 per coin.

As stated, Bitcoin is holding firm above $8k—it is currently selling for $8,863 and up 10.87%.

The original cryptocurrency has been on a continued bull run this month. May has seen it pack on whopping gains of 65%.

Will The Gains Continue?

Recently, Bitcoin enthusiast and crypto fund manager, Brian Kelly, spoke to CNBC’s Fast Money and predicted that Bitcoin price will continue to rise. One reason for this is the approaching “halvening” that will see Bitcoin mining rewards cut in half. The halvening won’t happen until 2020, but until then, miners are expected to hoard BTC and this increasing demand will see Bitcoin price rise as the supply becomes lessened.

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Of course, Bitcoin remains as volatile as ever. Only one day after the coin passed the $8k mark, it plunged 10% back to $7,200 USD. While it has indeed paired those losses once again, never become too comfortable in this market. Another major dip is easily around the corner, especially if Bitcoin has been on an extended bull run.

What do you think of China’s cryptocurrency rankings list? Is EOS your favorite?

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Tron VibraVid

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

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?

Featured Image: DepositPhotos © hello.artmagination.com

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