Tron CEO Justin Sun Offers Job to Former BitTorrent Employee Who Lost All His Life Savings After Death of QuadrigaCX CEO

Tong Zhou made a $422,000 mistake by deciding to keep all his life savings on one exchange, and Justin Sun is trying to help him out

Justin Sun, the CEO of Tron, is among those who are saddened by the current predicament of a former BitTorrent torrent employee Tong Zhou who turned out to be one of 115,000 clients of Quadriga CX. Now, Zhou once again gets the opportunity to join the BitTorrent team.


A $422,000 predicament
As Bloomberg reported on Dec. 11, Zhou, a software engineer who recently moved to Vancouver, deposited all his life savings ($422,000) to Quadriga CX to transfer them to a Canadian bank. However, since the death of the exchange’s CEO Gerald Cotten, nobody is able to access the funds. The exchange owes its customer more than 190 mln with Zhou among one of the largest affected clients.

Justin Sun comes to the rescue
Sun claims that he’s saddened by the news, and he is willing to give a helping hand Zhou by offering him a job at BitTorrent. That move resonated with multiple Twitter users who are praising Sun.


However, there is one man who’s definitely not going back to BitTorrent. As U.Today reported earlier, ex-BitTorrent exec Simon Morris lashed out criticism at Tron and Justin Sun who, according to Morris, doesn’t have a technical bone.


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Author: Alex Morris
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Tron Price Rises 53% in Five Days – Is This TRX Run Sustainable?

The Tron price (TRX) on Wednesday maintained its bullish momentum despite a watchful sentiment across other cryptocurrencies.

The TRX/USD rate today peaked towards 0.0306, up 53% for the week after posting five consecutive daily buying sessions. On a 24-hour adjusted timeframe, the pair has posted a whopping 13.56% gain against the US dollar. The strong buying sentiment has prompted Tron’s market capitalization to jump two ranks, leaving Craig Wright’s Bitcoin SV and stablecoin Tether behind.

Tron is also showing strong muscles against Bitcoin. According to an aggregate price index, the TRX/BTC pair has jumped 13.15% to 722 satoshis.

BitTorrent Token Launch

The upside sentiment appears to have surged after the launch of the BitTorrent crypto token (BTT). It is the native cryptocurrency of the BitTorrent protocol, the popular torrent file sharing platform which Tron took over last year. According to the press announcement, BitTorrent users will be able to earn rewards for seeding and sharing the files in BTT. According to the BitTorrent whitepaper, BTT is based on Tron’s TRC-10 standard.

CZ, the CEO of crypto exchange Binance, called the development an “interesting case study.”

The overall development appears to have attracted sentimentalists towards the Tron market, especially when rest of the top coins are finding it difficult to reach their next upside targets. The crypto token’s surge against Bitcoin alone explains that.

Will the Tron Rally Last?

The signs of sentimental trading suggest that traders will want to exit their long positions on a profitable note on the first sign of pullback action.

TRON 1D CHART | SOURCE: BINANCE, TRADINGVIEW.COM

The TRX/USD rate has overreached its upside targets according to the Relative Strength Indicator (RSI) momentum. It is now near 80, which indicates a downside correction in the coming sessions. In the best case scenario, the TRX/USD pair will be forming a bull flag as it corrects to the south, after which it will resume its uptrend to form new higher highs. In the other scenario, which is not entirely a worst case, the pair will extend its downside correction to restest 0.0182 as its support.

As of now, Tron has already formed what the market calls a cup and handle pattern, followed by a breakout. Generally, the cups with stronger Us and handle size below the size of half the cup provide strong signals. We are merely discussing the pattern to realize the interim bias of the Tron market.

In the event of an extended breakout action, such that TRX/USD breaks above 0.0310, the next upside target would shift towards 0.0443, the high from July 18 trading session.


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Author: Yashu Gola
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Justin Sun Reacts To Claims TRON Cryptocurrency Tech is ‘Garbage’

As CCN recently reported, Ripple and Stellar co-founder Jed McCaleb took time out of a recent interview to denigrate  Cryptocurrency TRON. Calling it “garbage,” McCaleb has apparently set off a minor firestorm of reactions on Twitter. Said firestorm includes a reaction from TRON’s active founder, Justin Sun:

Sun pointed out that his firm is active in two areas where Jed McCaleb has attempted to work: file sharing and cryptocurrency. McCaleb created an early file sharing network called eDonkey2000 which, along with KaZaA/Limewire/BearShare and Napster, eventually succumbed to BitTorrent in terms of users.

TRON acquired a company crucial to the development of the BitTorrent protocol in 2018 and is exploring the intersection of censorship-resistant cryptocurencies and decentralized file distribution.

Justin Sun // YouTube

McCaleb is among skeptics of smart contracts and stablecoins. During the interview CCN covered, he said:

The allocation of capital and resources is wild to watch, when these projects that have zero technical merit get millions of dollars. It seems like a big shame. Hopefully that will start to change. One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that.

Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.

In a lot of cases it just needs to be some sort of digital payment and you might as well use Stellar or bitcoin. You don’t need a separate type of payment for cannabis.

EOS Outpacing TRON

CCN pointed out at the end of our article that during the 24-hour period in which the article was written, Tron had conducted more transactions than Stellar by several orders of magnitude, more than two million. A Twitter user pointed out to this reporter that EOS had done even more than TRON:

In fact, according to CoinMetrics.io, EOS processed 5,615,823 transactions on December 21st, about twice as many as TRON. Transaction volume is important in measuring the usefulness and reach of a given blockchain platform. No matter how solid the technology is, a lack of actual demand will drive the price of any token down.

Twitter Reacts to Jed McCaleb

Besides Justin Sun himself, several people had words for Jed McCaleb. Some felt he was just slinging sour grapes:

Also read: TRON Cryptocurrency’s Development Team Grows From 2 to Over 40

Some wondered how Stellar manages to maintain its position as a top 10 (by market capitalization) cryptocurrency with so little use:

Some predicted that TRON will overtake Stellar in the future:

At time of writing, TRON was just $22 million behind Stellar in terms of 24-hour volume, leaving this within the realm of possibility if the price rises a few notches.

Demand is created when dApps that people actually want to use are developed. A Telegram alternative was recently created on the TRON blockchain called Converse. Currently it doesn’t require any TRON to use, but the enthusiasm and speed with which it has been developed might foreshadow future dApps which will generate increased demand for TRX.


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Author: P. H. Madore
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Tron DApp Usage Jumps 48% — More Than 1 Million Transactions Last Week

The TRON Foundation launched its TRC20 exchange this week. It is a place for people to exchange tokens issued on the TRON platform. The TRC20 exchange is located at TRX.market. The TRC10 token exchange is still on Tronscan, the primary block explorer and information service for the Tron ecosystem.

TRC20 and TRC10 tokens can be understood as Tron-native analogues to ERC-20 tokens. The TRC10 token is a user-issued token that doesn’t require the writing of a smart contract. The TRC20 token provides all the functionality and power of a smart contract-based token system. TRC20 is very similar to ERC20. All that’s needed to issue a TRC10 token is 1024 TRX, which are the equivalent of Ether in the system. TRX were trading at $0.013 USD at time of writing.

Tron has a number of decentralized applications running on it at present time, and despite the overall market downturn, usage was up, according to the foundation’s own metrics, by 48% over the last week. Usage crossed the 1 million transaction threshold in a single 24-hour period. In their blog on the subject, Tron wrote:

“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”

One of the more interesting projects built on Tron is SeedIt, a decentralized platform that lets users contribute funds to content creators they most appreciate. Also Project Atlas, which incentivizes people to seed content on the BitTorrent protocol, the flagship program for which Tron acquired back in July.

Ethereum DApps Not Seeing Much Usage

If we take a look at the rankings on dAppRadar and dAppTrack, we see that Ethereum dApps overall would be in a whole new league of usage if they saw anywhere near the transaction activity that Tron dApps do. There are factors that mitigate actual Ethereum dApp usage, and one is that several sub-platforms have been built and run on Ethereum which would not contribute to direct Ethereum dApp activity.

Source: dappradar.com

Also, not all token activity is decentralized application activity – for instance, the Basic Attention Token is not exactly a decentralized application. Yet, it sees several thousand tokens transmitted per hour. Same thing with  Binance Coin (BNB), which has a volume higher than many non-token altcoins. BNB had over $15 million in volume in the last 24 hours at time of writing. Since it’s not used as a decentralized application, it doesn’t count as dApp transaction activity despite seeing a high usage.

All of which is to say we’re not insinuating that the Ethereum blockchain is currently under-used. But the data tells us that the dream of Ethereum decentralized apps has yet to be realized in the form of a “killer dApp.”

The central focus of most Ethereum developers has been scaling solutions. Second-layer scaling has been a major avenue of investment in the Ethereum world. Projects like Raiden and 0x saw massive investments, and dApps which build on these sidechains would not necessarily contribute to Ethereum mainnet’s statistics, either.


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Author: P. H. Madore
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TRON Releases Weekly Report, TRON Ecosystem Co-Builder Plan Will Be Launched Soon

The Tron Foundation released the international version of its weekly report in multiple languages, summing up its activities for the week.

The Tron Foundation recently released the international version of its weekly report in which it detailed the technical projects and community development efforts it has been working on. The Foundation revealed that tests for a multi-signature wallet are in progress. It also talked about the Tik Tok contest, recent meetups with university students and the Tron Ecosystem Co-Builder Plan which could come to life soon.

Development and Community Efforts
Tron has completed the work on optimizing the logic of synchronization module and improving message processing. It has now also achieved dynamic changes of resource ceiling. Work is underway for a multi-signature wallet and node merge, allowing full nodes to provide interfaces for SolidityNode.

During the week, Tron also announced the Tik Tok contest for its global user base, dubbed “Duet with Justin Sun.” The event is giving away prizes worth 10,000 RMB to the winners. The Tron Foundation also reached out to the students of China’s prestigious Peking University, organizing an event titled “Tron to the Future: Blockchain Technology and Ecosystem” in association with global blockchain game incubator platform DOGI. Over 200 students attended the meetup.

Helping to Create a Better Tron Community
Tron Accelerator program, as noted by the Foundation will be fostering innovation and awarding 56 teams, with the winner getting a prize of $200,000. The website of TRON Accelerator Developer Contest was viewed 7300 times and over 100 teams, and individuals have signed up already.

One of the most interesting developments is the Tron Ecosystem Co-Builder Plan (ECP) which will be launching soon. Tron did not specify a launch date for the plan but suggested that it would help Tron based startups, freelance developers, dApp developers and more by providing them a long-term platform to communicate and co-operate with the Tron Foundation.

To help foster more innovation, Tron has announced the establishment of the Tron blockchain game fund, Tron Arcade, which will invest over $100 million in the next three years.

Apart from this, Tron’s mainnet version 3.2 has been launched, and Tron now has over 1200 developers in its Discord group. A detailed version of the report is available on Tron’s Medium page.


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Author: Viraj Shah
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Tron Now A Privacy Coin? The Adoption Of Zk-SNARKs

The ever popular and once very hyped cryptocurrency project TRON has plans to provide greater privacy features for their users by implementing zk-SNARKs.

Justin Sun, the founder and CEO of TRON, during a recent interview by the Bad Crypto Podcast talked about the progress of TRON’s technology, developments, and adoption.

During the interview, Sun talked about a variety of things including delegated proof of stake governance, the impact of blockchain, integrations with BitTorrent, and most notably the implementation of zk-SNARKs.

What Are zk-SNARKS?

zk-Snarks (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge), are a novel form of zero-knowledge cryptography, also known as zero-knowledge proofs. The technology was first used by ZCash (ZEC) and other cryptocurrency projects later adopted the technology.

The technology enables the possibility of shielded transactions and encrypts the crypto amounts being transacted. Therefore, with the use of zk-SNARKs, any one person or entity cannot analyze the ledger to discover wallet ownership of the parties involved in the transaction. Zk-SNARKs also encrypt the transaction amount for further privacy.

Unlike public ledgers such as the Bitcoin blockchain, cryptocurrencies utilizing zk-SNARKs will allow users to remain private and anonymous by shielding the sending and receiving transactions.

Justin Sun on Privacy and Anonymity

According to Sun, the TRON foundation has plans to implement zk-SNARKs as early as the first quarter of 2019. Once implemented, users can transact TRX tokens with a far greater level of anonymity and privacy. As a result, TRON will join the group of other privacy-centric cryptos such as ZCash (ZEC), Bitcoin Private (BTCP), Monero (XMR), or Verge (XVG).

Sun explained that privacy and anonymity is much needed in today’s data-driven society, as both websites and search engines are monetizing user data, which affects users’ privacy in a variety of ways.

As quoted from the podcast, Sun said:

“People don’t want their privacy stored by Facebook or Google because those people can more easily manipulate the data so they can push ads to you. You don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that ànd limit how much data you are required to share.”

Sun explained that with the future implementation of private transactions on the TRON blockchain, users will maintain control. They can enable private addresses and untraceable transactions so companies and entities cannot track them.

Sun also explained that not all TRX transactions will be private. He said users can decide whether they want to process a private transaction. While the option to do this a is nice feature, the ZCash development documents state that if you limit the number of users using zk-SNARKS, it becomes increasingly possible to deduce certain transactions.

Final Thoughts

TRON has been very busy during this crypto bear market and continues to make new announcements and developments almost daily.

For instance, the TRON blockchain recently surpassed Ethereum in terms of dapp usage. The TRON foundation is funding the innovation and development of the blockchain-based gaming industry through a 3-year plan with $100 million in funding. The foundation also launched a $1 million Accelerator Program to spur innovation and development of dapps on the TRON blockchain. Earlier this year in July, TRON purchased BitTorrent for $250 million and is paying seeders with TRX through their Project Atlas.

All in all, TRON appears to be killing it in terms of development during this gloomy crypto bear market. For a crypto project that was all hype with no blockchain or products just one year ago in 2017, they have come a long way and have big plans and goals for the future.


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Author: Jeremy Wall
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TRON Arcade: TRX Company Announces $100 Million Gaming Fund

Despite the price conversation dominating cryptocurrency, as the market experiences a brief reprieve after two weeks and billions of dollars shed in market capitalization, most of the top currencies are pushing forward in development. On Nov. 29, the TRON Foundation announced the creation of a new fund which would highlight the need for gaming and blockchain development. Called “TRON Arcade” the announcement includes a $100 million commitment by the foundation to advance blockchain gaming on the TRON network paid out in installments over the next three years.

According to the release, TRON Arcade seeks to “empower developers,” a move that the TRON Foundation and CEO Justin Sun have historically pushed as the most organic approach to growing both the TRX currency and the platform being built. SInce inception, TRON has been billed to investors and developers as more than a transactional currency. Compared to Bitcoin and other merchant focused coins, TRON seeks to build a multi-layered decentralized entertainment platform utilizing the TRX currency, with gaming being an obvious pillar to its development.

Since acquiring BitTorrent in a bomb shell move over the summer, both the TRON Foundation and Justin Sun have garnered attention for their broadly focused programs to expand the existing framework of cryptocurrency. As many commentators have pointed out during the bear cycle of 2018, highlighted by last week’s most recent price plummet, crypto has room to grow before blockchain and the use of decentralized assets becomes commonplace in the mainstream. Until that time, investors can continue to expect severe price volatility, with crashes being the consequence of an underdeveloped marketplace and burgeoning industry.

Yesterday, EWN reported on the TRX currency leading the market in performance, gaining over 20 percent on the day. The recent announcement of TRON Arcade adds to the building development for the currency, with TRON showing investors and TRX enthusiasts that they have a long-term commitment to the industry–despite the discouraging market movements that have characterized 2018.

TRON is counting on the Arcade fund to form another pillar of the growing platform, much like Project Atlas is spearheading the integration of torrenting services through acquired BitTorrent. Speaking in the release, founder Justin Sun explained that blockchain gaming would improve the experience of both TRON and those looking for a new twist on the entertainment sector,

“TRON strives to tackle existing issues faced by the gaming industry by leveraging the open, transparent, and immutability of blockchain technology. TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.”

With the addition of TRON Arcade, in conjunction to other programs such as Project Atlas, it’s becoming more clear that Sun and the Foundation are targeting developer interest as the path for TRX dominance in the industry. Sun has repeatedly espoused the benefits of TRX over Ethereum, including transaction speed and network scalability, in an effort to woo away talent from its most pressing competition. Now, with Arcade, TRON is opening itself up to a fresh wave of development focus through gaming.


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Author: Michael Lavere
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$19 Billion Gained in 24 Hours: Crypto Market Makes a Recovery

Within the past 24 hours, the crypto market has added $19 billion to its valuation as the price of Bitcoin (BTC) surged to $4,300.

After dropping to the low $3,000 region, Bitcoin engaged in an unexpected price rally, rising by more than 15 percent on a single day.

The newly established momentum of Bitcoin allowed the rest of the cryptocurrency market to recover. Major digital assets like Stellar (XLM), Cardano (ADA), Monero (XMR), and TRON (TRX) recorded gains in the range of 7 to 25 percent.

TRON’s 33% Price Surge

In a 24-hour span, the price of TRX spiked 33 percent from $0.012 to $0.016, recording the largest daily gain out of all major cryptocurrencies.

The sudden increase in the price of TRX is said to have been triggered by the integration of TRON by BitTorrent, the world’s most widely utilized torrent client.

In July, TRON officially acquired BitTorrent and its network that serves more than 100 million active users. Through the acquisition, TRON almost immediately gained access to an active global user base that is difficult to secure for any startup.

At the time, Justin Sun, the founder of TRON, said that BitTorrent will move its operations to TRON’s San Francisco office and the company will begin to leverage the torrent client.

On November 27, TRON announced that TRON is accepted as one of the main payment methods of BitTorrent as a part of a larger initiative to increase the use of TRX on online platforms.

Sun said:

“BitTorrent joins a growing list of online companies whose products and services accept TRX as payment. With BitTorrent’s over 100 million users, the move helps increase the use of TRX in online marketplaces while giving consumers more options to unlock value from BitTorrent’s premium products.”

The announcement of TRON and BitTorrent came in a period during which extremely oversold conditions in the cryptocurrency market started to enable both major and small market cryptocurrencies to engage in minor corrective rallies.

The synergy between the market’s corrective rally and the announcement led the price of TRON to spike by a large margin.

Overall in a Better Place

TRX was able to demonstrate such a large short-term price movement because the cryptocurrency market is in a better position than it was last week.

The strong movement of Bitcoin allowed the dominant cryptocurrency to establish a bottom in the low $3,000 region. As Alex Kruger, an economist and cryptocurrency trader, said:

“I do not think ‘the’ bottom is in. Just ‘a’ bottom. Not changing my short-term outlook. Double bottom on extreme volume after bitcoin reaching most oversold levels in history. Look at RSI. And the dots, which represent my main oversold signal (proprietary), only triggered once before, ever, marking the 2015 bottom (did dipped once after on a one-day flash crash).”

In the short-term, if the volume and momentum of Bitcoin can be sustained, the cryptocurrency market is expected to extend its positive movement throughout the month’s end.

Click here and here for a real-time Tron and Bitcoin price chart respectively.


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Author: Joseph Young
Image Credit: Charts from TradingView.

Tron (TRX)’s New Listing On Indacoin Comes With New Trading Pairs, Enters Australia And Russia As Trading Volumes Increase By 260%

Things are looking up for Tron’s TRX as it gets another listing on a new London-based crypto exchange. The exchange, called Indacoin, also plans to offer 5 fiat trading pairs for the crypto. This comes just days after Tron launched a new smart contract system that quickly achieved over 12 million triggers. Also, the company has launched a Baccarat Casino supported by smart contracts in a bid to improve TRX’s adoption.

TRX And Fiat Pairs On Indacoin

Besides the listing, Indacoin will offer a variety of TRX-to-fiat pairs. These include the USD (United States), RUB (Russia), GBP (Britain), EUR (EU), and AUD (Australia). Indacoin allows users to purchase cryptos using their Visa or Mastercards. However, the cards must support a 3D Secure function enabled for security verification.

One of the advantages of this new arrangement is speed. It takes less than 30 minutes for a transaction to complete. On the platform, users can buy or trade TRX with other cryptos. If they wish, they can also convert their TRX into any of the given fiat pairs and send it back to their credit cards.

About Indacoin

As a crypto exchange, Indacoin prides itself as having been built around the concept of stemming fraud. For this, the exchange has deployed stringent systems that detect and prevent fraud attempts based on 30 client variables. The variables are assessed to derive a final client score to gauge their authenticity.

Indacoin entered the market back in 2014. Having started in the United Kingdom, the exchange has since expanded into various other countries across the world. Besides the basic website, Indacoin also has mobile versions that run on both iOS and Android devices. Although no data about the exchange is available on CoinMarketCap, Indacoin currently offers over 700 tradable digital assets/cryptocurrencies. The exchange serves every other region except the United States.

New Markets

One thing to note is that prior to this latest listing, TRX wasn’t really popular in some large markets like Russia and Australia. That’s about to change now as the new AUD and RUB fiat pairs allow TRX to penetrate the two markets.

Over the last few days, Tron’s daily trading volume has shot up by a huge margin – about 260%. That’s a jump from 50 million to around 180 million. Despite this, the crypto’s price has largely remained unmoved. It’s yet to be established just how much the listing could affect TRX’s market standing. Although the current general market trend doesn’t seem to favor TRX, the news of the listing could trigger a positive development and ease the pressure on its market.


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Author: Nick James
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Tron (TRX) Accelerates to Over One Million Daily Transactions

Tron is back in the news as Justin Sun makes another move. A few days ago, there was a lot of talk about Tron aiming to surpass its target of 1 million daily transactions. Well, it seems that the good news is now hitting our screens even earlier than expected, and there’s more than just the news.

Just days before Tron achieved the said 1 million daily trades, the CEO and founder of the company, Justin Sun, started a contest and pledged to dish out some nice rewards to 5 random winners. In the contest, his followers were asked to predict the date when Tron would hit the 1 million transactions target.

Justin promised to give out a cool 5,000 TRX tokens, meaning that each of the winners would be taking home about a thousand TRX. Now that the target has been reached, it became obvious that Justin would announce the 5 lucky winners. And he did just that.

In a tweet, the cool generous CEO announced that Tron had not only achieved the 1 million transaction milestone, but it had also actually surpassed it. Adding to that, he went ahead to announce the 5 winners who came out right in guessing the correct date the milestone was achieved. To make things even cooler, the twitter followers who won came out to drop their comments on the thread, confirming their winnings. Someone in the thread even suggested that Tron could actually hit 2 million daily transactions within the following week.

Tron (TRX) Shows Ethereum (ETH) Some Huge Dust

Expectedly, Tron’s success in boosting its total daily transactions is partly fueled by its recent acquisition of BitTorrent, converting the users already in the system into its customer base. As such, its traffic has increased, and that means more transactions per day. With such a volume, Tron has surpassed Ethereum. In fact, it not only surpassed Ethereum, but it achieved twice Ethereum’s volume. However, Ethereum still remains ahead of Tron in terms of market cap.

Tron’s main objective is to redefine the entertainment industry by giving power back to the users. With Tron’s system, users can create, store, and publish their own stuff without outside control. The company has also announced plans to team up with JOYSO to develop a hybrid crypto exchange platform.


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Author: Nick James
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