Justin Sun Announces That Tron (TRX) Will Surpass 200 dApps Shortly – The Tron Accelerator Is Involved

Back in October 2018, Tron activated the Tron Virtual Machine (TVM), and since then, the amount of smart contracts has continually increased at a really fast pace.

Since the activation of TVM, 3,856 smart contracts are reportedly currently live on the network. These contracts have been triggered 134.2 million times which is quite an achievement.

dApps on Tron network

The number of dApps on the Tron network continues to increase on a daily basis, and Justin Sun made sure to note this on his Twitter to make the community excited.

Someone who was really excited about the news commented: “Long term investor here and user of the Tron platform love it 😍 #tron awesome stuff @justinsuntron.”

There were also the naysayers present in the comments section and one of them said: “Until we get relevant real-world applications using #Tron, such little progress are only gimmicks and nothing else.”

This is the response the user got: “Any progress is not “gimmicks”… what do you think project Atlas is.”

Tron Accelerator

The number of dApps will soon increase due to the ongoing Tron Accelerator plan with $1 million in prizes.

The accelerator was launched back in December 2018 and plans to empower developers and startups to develop dApps on the Tron protocol.

The breakdown of the $1 Million will be distributed is as follows:

  • $200,000 for the 1st Prize Winner
  • $100,000 for the 2nd Prize Winners (2)
  • $50,000 for the 3rd Prize Winners (3)
  • 8 Special Prizes worth $30,000 each. A total of $240,000
  • 42 Finalist Prizes worth $5,000 each. A total of $210,000

“As TRON Accelerator results coming out, we have emailed winners with prizes, moving forward, we will announce a list of all winners through the website and other PR channels, please stay tuned,” the Tron Foundation notes.

The first three winners will have the great chance to attend Tron’s two-day developer conference niTROn Summit.

Author: Andreas Townsend
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An exclusive insight into the exciting future of Loom Network

In an exclusive interview, Coininsider spoke to James Duffy from Loom Network. The interview is proudly brought to you by the Alchemist Blockchain Techstars Accelerator. Applications for the programme are open until the 28th of October, for more information visit Techstars.com.

According to Duffy, “Loom is a scaling solution for Ethereum through side-chains and the focus is on large-scale applications, primarily games and social apps.”

Loom was a company that underwent the Alchemist Blockchain Techstars Accelerator Programme. Duffy spoke about his experience with the programme:

“Techstars is really great, primarily because of their network. We’re close with Alex, one of the managing directors of Techstars New York, and he was immensely helpful in giving the project what it needed and finding intros to the most obscure people.”

Although Loom Network did not finish the entire programme, Duffy advocates that the team at Techstars added an exceptional value to helping the company. Having been through the programme, he thinks that engaging with accelerators such as Techstars is useful because it automatically lends a project credibility and legitimacy which is vital to stand out. He said that it also offers opportunities to meet high-profile funds if fundraising is one of the factors on which a company or project is focused.

Decentralized applications (DApps) are one of the fundamental focuses that Loom Network has, owing to their goal to get cryptocurrency users to adopt DApps into the mainstream. Duffy thinks that this will be key to over-all cryptocurrency adoption:

“Everyone is focusing on scalability, which is definitely a problem, but we think user adoption is an even bigger problem.”

Duffy explained the ‘Loom Vault’ which is a feature which offers users the opportunity for users to opt for Loom to manage the side-chain private keys. This feature is a side-service which allows users to sign in and not have to authenticate every single transaction. The platform would do it automatically which aids in a user-friendly approach.

Unlike other projects, Loom Network has not been slowed down by the bear market and the project’s roadmap has not shifted. Duffy expressed his personal view on the industry:

“I’m not really an anxious person, so if anything keeps me up at night, it’s the excitement of what we’re building. I think the future of blockchain gaming is really exciting because you can build things which weren’t possible before. For example, real ownership of digital assets is possible on the blockchain.”

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Tron (TRX) Unveils Major Update: Project Atlas, DApps, Gaming, Wallet and 97 Billion Token Burn

Tron just wrapped up an in-depth live stream update on the platform’s progress.

Founder and CEO Justin Sun began by comparing Tron’s network activity to other blockchains, noting the Tron network now boasts more unique addresses than EOS. In addition, Sun says Tron gained more unique addresses in the first 95 days after its mainnet launch than Ethereum did during its initial launch back in July of 2015.

Sun also announced that Tron has now burned 98% of all its ERC20 Ethereum-based TRX tokens, which are no longer needed now that Tron has migrated off the Ethereum blockchain. The process has essentially locked up about 97 billion tokens that are no longer needed, throwing away the key.

The Tron team also highlighted a number of DApps, including the updated Tron Wallet for iOS and Android and two new gaming DApps built on the Tron network.

As for Project Atlas – the code name for Tron’s integration with the legacy file sharing platform BitTorrent – Tron revealed a number of announced on how the two platforms will merge.

• Integration of a new Tron-based TRX20 token is designed to incentivize users to share files and increase overall download speed
• Users will have the option to take part in the tokenization, or can continue to use BitTorrent without any modifications if they like
• Mobile, desktop, and third party torrent clients will all have the option to enable the new tokenization features
• BitTorrent will remain free and continue to allow users to upload any and all types of files

Author: Daily Hodl Staff
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Killer Dapps to Drive Mass Crypto Adoption

“You’ve gotta start with the customer experience and work backward to the technology.”
— Steve Jobs, Apple Worldwide Developers Conference, 1997.

The key to mass adoption of cryptocurrencies is the advent of Distributed Applications (dApps) that solve real problems for millions of people.

And the most-successful coins will be those that do the best job of supporting those killer dApps, such as EOS, NEO, Cardano and possibly new ones yet to be launched.

Here’s the key question of this era:
To create the most popular dApps of tomorrow, do you start with the technology? Or do you start with the vision?
In other words, do you let software developers lead the way to what they think are the most “cool, awesome” bells and whistles? Or do you search for the big idea that could truly change the world for the better?
Apple, the world’s first trillion-dollar company, was driven by the vision. But unfortunately, most cryptocurrencies we review today are bogged down in the technology.
Steve Jobs made it absolutely clear. You don’t start with “Let’s sit down with the engineers and figure out what awesome technology we have and then how are we’re going to market that?”

But Charles Hoskinson, one of the more-renowned developers in the space, seems to disagree. He claims that the “vision-thing” is secondary. He says the famed “Silicon Valley model” — getting a great product into the hands of as many people as possible — doesn’t work for crypto because you can’t afford to let anything go wrong.
We side with Steve Jobs. No one denies the importance of quality control in the world of crypto technology. But that doesn’t alter the immutable reality that USERS DON’T CARE about what’s under the hood.

This is critical because the success or failure of Distributed Ledger Technology (DLT) — and cryptocurrencies in general — depends on whether or not these technologies are able to solve problems that regular people have every day.
That’s not happening yet. Most people are still stumped by the whole concept of cryptocurrencies. They don’t know why they need them or what they can do with them. Their most-common refrain: “We already have money. So why should we care about this digital asset thing you’re so excited about?”

Whether they’re right or wrong is not the issue here. What’s important is they don’t see value in something they can’t relate to.
Even in developing-world countries, where the need for cryptocurrencies is theoretically great, adoption remains low. Even in countries like Argentina, Turkey and Venezuela — where the value of fiat currencies is evaporating at an accelerated pace — few are buying crypto.

Why? Because of …
Obvious, Practical Obstacles to Adoption
Users get lost in the technicalities and intricacies of managing alphanumeric private keys.
They get confounded by the process of storing the keys in a safe place.
They’re terrified by the thought of losing all their savings because of a memory lapse, and rightly so!

Yet that’s the state of the art of DLT today.
Is this a hopeless situation? Has crypto technology failed to deliver before it even started? Not at all.
The key to mass adoption of distributed ledgers is not who has the best coin, or the best software protocol. It’s who creates the best application.
Distributed Applications (dApps) were the concept introduced with the creation of Ethereum. And they are the absolute essence of what will drive this technology to the masses.

Thingscan be done with distributed ledgers that people will find fascinating and WILL want to use.
There’s just one problem: Nobody has built one yet.
We don’t develop dApps ourselves. Nor are we the first to present these concepts. But by pooling thoughts from multiple experts — both inside and outside the crypto space — we have come up with three major areas where we believe some true killer dApps are likely to emerge …

Killer dApp concept #1
Decentralized Social Media
Facebook, YouTube and Twitter are running into two monster problems that could eventually usher in their doom: security and censorship.
Reason: There’s an inherent conflict of interest between management and users.
Managers are responsive to the demands of shareholders, advertisers and governments.
Whether at YouTube, Facebook or Twitter, their rationale is that they’re private companies. So this gives them the right to decide who speaks on their platforms and who doesn’t.
OK. But even if this argument is technically valid, the fact remains that users don’t care. They’re still unhappy and abandoning social media platforms like Facebook by the millions.
Crypto-based social media fundamentally solves this issue by handing the platform’s control over to the community.

In this decentralized model, users own their data, control their own content and get paid directly by users who want to view it. The middleman is replaced with smart contracts. And the influence that advertisers have over social media is removed.
Early DLT social media experiments like Kin and Steem have a long way to go in order to provide a fluid and friendly user experience. But they already stand as solid evidence that, when given the choice, most people will prefer social media sites they directly control and benefit from.

Killer dApp concept #2
Peer-to-Peer Lending
Critics of the crypto space often argue fiat money can’t be replaced with cryptocurrencies because banks would still be needed as a primary source of credit.
True, capital formation and credit markets are fundamental to modern economies. But the idea that banks must play the pivotal role as intermediaries for all or most loans could soon be outdated. Smart contracts will be far more efficient — especially when it comes to large quantities of small consumer and business loans.
Borrowers of all stripes will have access to funding. And with a few clicks of a mouse, lenders will be able to select the combination of return, risk level and term they’re seeking.
Ultimately, a new financial system will evolve in which individuals anywhere can act as a microbank, providing credit to businesses halfway across the world — all without intermediaries and in real time.

Killer dApp concept #3
Real-Time Voting
Given how essential elections are for modern democracies, it never ceases to amaze us how vulnerable and inefficient they can be. We see:
(1) Widespread vulnerability to fraud and meddling.
Especially in emerging democracies, everything from voter eligibility to final vote counts (and recounts) are often controlled by corrupt officials behind closed doors. Teams of international observers are dispatched to the polls. Fortunes are spent on monitoring. But still, irregularities are frequent.
(2) Major legal battles in the wake of close elections.
Even in advanced countries, close elections are routinely challenged in the courts, which, in turn, are not designed to counter public allegations of manipulation and cheating. The 2000 U.S. presidential election is just one of the most memorable among hundreds of documented cases.
(3) Other major controversies surrounding referendums, representation and more.
DLT has the potential to resolve most of these problems most of the time. This is thanks to three major advantages …
(1) Transparency. Voting occurs with a decentralized internet protocol where no actor is able to fudge or manipulate the vote tally. The results are transparent and known to everyone with an internet connection in real time.
(2) Virtually indisputable election results. High-level mathematics are deployed to validate each vote and ensure the accuracy of election results overall. Disputes are reduced to a small fraction of what’s common today.
(3) Broader participation and accountability. Distributed ledgers that can tally and record votes in real time not only enable greater participation, but they also create more efficient accountability of elected officials.

These are the most promising concepts we know about today. Other killer dApps and even more advanced crypto platforms are also on the way.

Author: Juan M. Villaverde
Image Credit: iStock/RichVintage