Justin Sun Wants 2000 dApps on TRON Blockchain By EOY

Every day it seems to be that the TRON ecosystem is growing and at an alarming rate at that. At the head of TRON is Justin Sun who is dedicated to creating one of the crucial blockchains across the globe and it seems that this goal is getting closer despite what the critics say about his.
One way to understand the success of a blockchain is through the number of projects developed around it. In this sense, TRON has a big advantage in terms of growth because it is the blockchain that registers the highest amount of new dApps on a daily basis. This surpasses, its competitors like NEO, EOS, Steem and of course, Ethereum.
Sun went on to explain that his end goal is to have at least 2000 dApps running on the TRON blockchain before the end of the year. Of course, this is a very ambitious target but it is possible if the platform keeps up the same pace that it is going at today.

“We already have nearly 300 on TRON in just a few months, and we aim to get to 2,000 by the end of this year.”

What’s also important is that TRON successfully launched the USDT token based on the TRC-20 standard yesterday. This suggests that now, a big number of transactions executed with the strongest stablecoin in the market will run on TRON. This will increase the exposure of users to this blockchain.
In an open letter to the TRON community, Sun explains that this new partnership will be a great way to help stabilise a kind of market like the crypto one. He emphasised that now that USDT will run on TRON, trading and swap tokens like USDT, TRX, and BTT will be much easier:

“I think of USDT built on TRON blockchain as a win for the blockchain industry and for our community. More people will be able to trade TRX, BTT and other TRC-based tokens through the TRC20 based USDT pair, creating liquidity. In turn, liquidity helps build confidence and trust that typically results in greater stability throughout the ecosystem.”

Sun later went on to explain the emission of a TRC-20 is vital in getting to the all-precious mainstream adoption.
Source: Crypto Daily

PrimeXBT Goes Global and Launches International Ambassador Program

PrimeXBT, a 4th generation cryptocurrency exchange offering 100x leverage across a variety of crypto assets and boasting advanced trading tools, is expanding the languages the platform is offered in to better accommodate traders across the globe. The platform is celebrating the glocalization effort by launching a new international ambassador program in select countries across the globe.
PrimeXBT Experiences Substantial Global Growth
The PrimeXBT margin trading platform has already generated significant buzz around the world due to the influx of traders flocking to the platform. Traders have become enamored with the wide variety of advanced order types, unrivaled liquidity, customizable interface, and the ability to profit off the market whichever way it’s trending. No other exchange offers Bitcoin margin trading with such low fees and minimum deposits, or can match the variety of tools available to crypto traders.
In just a few short months on the market, the PrimeXBT leverage trading platform has already set records for trading volumes and is expecting to reach over $250 billion in trading volume within the next six months, according to expert research.
Due to the wide range of users that PrimeXBT has garnered, the PrimeXBT development team has worked to translate the platform in a variety of native languages, to better cater to the growing global market.
PrimeXBT Launches International Ambassador Program
Now that the PrimeXBT website has been translated into a number of different languages to better accommodate the global community to traders PrimeXBT will further establish its leadership position in the greater global crypto market with the launch of its international Ambassador Program. The ambassador program and website translation is just the first step in PrimeXBT’s greater localization strategy.

PrimeXBT is seeking active traders, brokers, bloggers, businessmen, and entrepreneurs from select countries who would like to become official representatives of the platform, and build a career at one of the most rapidly growing companies in the emerging market of blockchain and cryptocurrency. Passionate and dedicated individuals can finally live their dreams and earn income doing something they love.

Those that are interested in signing up to become a PrimeXBT ambassador should please contact ambassador@primexbt.com.
To get started growing your PrimeXBT earnings immediately, sign up for the platform’s attractive 4-level referral program, designed to reward users for spreading the word about PrimeXBT. The referral program offers an in-depth education center and marketing materials to assist brokers or blog owners in reaching new referrals and generating regular income through the program. The referral program goes 4-levels deep, allows traders to earn income from any traders they refer, but also the traders their referrals bring to the platform. The potential for earnings are near limitless.
To learn more about the PrimeXBT referral program, visit https://primexbt.com/partners
Source: Crypto Daily

SEC Taking Action on Misleading ETFs

The United States Securities and Exchange Commission (SEC) is slowly taking action towards Exchange-Traded Funds (ETFs) that misleadingly use blockchain in their names.
According to reports from Bloomberg, issuers are not able to use ‘materially deceptive or misleading’ names under the Investment Company Act of 1940. As a result of this, more than a third of thematic ETFs had to change their names last year during the SECs approval process. For example, one fund that originally included blockchain in its name is now called a ‘transformational data sharing’ ETF.
The Chief executive officer of Exchange Traded Concepts, J. Garret Stevens said,

“We get questions more than we used to where we have to be able to defend our name. Now, almost all names, they’ll come back and say ‘Can you justify [and] give us your explanation on why this name is OK?”

Corporate Traveller is a UK based provider of business travel management services to small business companies, and they have recently announced a partnership with BitPay, which will allow Corporate Traveller to accept Bitcoin and Bitcoin Cash payments from its customers.
The brand leader at Corporate Traveller, Andy Hedley spoke in a press release saying, “we identified an increasing demand from our clients for the option to pay in bitcoin for business travel bookings made by our travel consultants.”
Following on from this he said:

“We chose BitPay to manage our merchant processing because they make it easy, and handle the entire process of getting the bitcoin or Bitcoin Cash from the customer and depositing cash into our account. The blockchain industry is growing exponentially, and we are excited to be able to offer our clients the ability to pay in bitcoin, whilst having the reassurance of our settlement from BitPay being in pounds sterling. We believe Corporate Traveller is the first business travel management company to offer this payment option to [SMBs] in the U.K.

Meanwhile, whilst recovering from the devasting fire that took Notre-Dame cathedral last night, France has asked the European Union to adopt the same kind of crypto regulatory framework that it only integrated last week.
Speaking at a blockchain tech event in Pairs, the French Finance Minister Bruno Le Maire said:

“I will propose to my European partners that we set up a single regulatory framework on crypto assets, inspired by the French experience.”

Source: Crypto Daily

EOS Constitution Changed Following Voting Impasse

The EOS user agreement was eventually signed recently by 21 of the 30 block producers (BPs) on the network. This comes months after negotiation and debate following referendum gridlock.
The new document replaces the much-criticised EOS interim constitution as the network’s governing document. Under the terms of the new EUA, Block Producers will continue to hold a dominant role in network governance.
After the mainnet launch of EOS nearly 12 months ago, a huge bout of controversy followed over numerous details in the interim constitution. A lot of people believed that the delegated proof-of-stake mechanism underpinning the network was in direct conflict with the principle of decentralisation.
The importance of Block Producers to the EOS network sparked an ideological blockchain debate with those dubbing themselves as ‘realists’ arguing in favour and the self-proclaimed ‘purists’ arguing against.
The EOSIO Core Arbitration Forum soon became a flashpoint since users started to raise hell in all sorts of cases which crowded the system since it wasn’t designed to deal with arbitration cases at such a big scale.
Within just two months, the community decided that the interim constitution was unworkable and just had to be replaced. Following on from this, the next problem was the turnout of token holders in the EOS user agreement referendum was just under 2 percent. This was far less than the 15 percent that was needed.
As reported by CryptoSlate:

“While 99 percent of the 17 million voting tokens indicated “yes” over “no,” the very low turnout meant that Block Producers could essentially use their discretion to make a decision. The turnout problem wasn’t helped by a significant number of blacklisted accounts after the ECAF debacle. Eventually, 21 Block Producers decided to take matters into their own hands and effect the switch.”

In fact, the BPs who signed off on the new EUA are

“EOSNewYorkio, ArgentinaEOS, Cypherglass, EOSnationftw, EOScafeblock, Atticklabeosb, EOSflytomars, EOSBeijingbp, EOSbixinboot, EOShenshenio, EOSdacserver, EOSiosg11111, EOSauthority, EOS42freedom, EOS.fish, EOSRioBrazil, EOScannonchn, EOSHuobiPool, Cochainworld, Jedaaaaaaaa, and Bitfinexeos1.”

The Future
EOS has decided that its future all lies in accepting BPs instead of attempting to run the network as a direct democracy, the weight that is now on the BPs shoulders shows us that this model of blockchain governance works.
Source: Crypto Daily

Litecoin’s Gets a Confidence Boost as Hash Rate Hits Record High

Litecoin is one of the most popular cryptocurrencies in the industry and over the past two years, we have seen a rapid increase in the hash rate of the Litecoin blockchain network, which represents computing power that protects the protocol. Specifically, this quick increase comes with the strong performance of Litecoin over the past few months.
Even though the significant increase in the hash rate of any blockchain network is generally considered a positive indicator of confidence, arguments are commonly made that improvements in hardware and mining equipment can lead the hash rate to rise.
The recent surge in the hash power of the LTC network was more than likely affected by the momentum of the short-term price trend of Litecoin. With this, it is possible that the overall improvement in the efficiency of mining equipment might have triggered the hash rate on the network.
An early team member at Litecoin, Franklyn Richards has spoken on the recent rise saying:

“Another potential explanation for the recent rise, besides price, may be more efficient mining hardware being issued /used. If this were the case we are not expressly aware of it.”

Price Surge
JP Vergne is a professor at the Ivey Business School in Canada and in 2017, Vergne discovered in a study that developer activity is the most accurate predictor of the price movement of cryptocurrency.
The study released by Vergne, dubbed “Buzz Factor or Innovation Potential: What Explains Cryptocurrencies’ Returns?” noted that while new cryptocurrencies are always surfacing, if they aren’t backed by active development, investors may lose confidence. The study states:

“Besides, a new cryptocurrency may look more appealing than its older competitors at the time of introduction, but if it is not backed by a solid team of developers who continually improve its underlying software, over time it will be unable to maintain its initial technological advantage.”

Also speaking on Litecoin was its creator, Charlie Lee who has said:

“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”

Source: Crypto Daily

Elon Musk: “Cryptocurrency is my Safe Word”

The popular figure in pop culture, Elon Musk has once more expressed his faith in cryptocurrency and has dubbed it as his ‘safe word’. We all know how much of a believer that Musk is in cryptocurrency and his recent tweet prove that stance.

Cryptocurrency is my safe word
— Elon Musk (@elonmusk) 13 April 2019
Earlier in the year, he had stated that the cryptocurrency is the future of money and paper money is sure to go away, his public declaration of interest in buying cryptocurrency landed him in trouble at some point when he had his Twitter account suspended.
The CEO and founder of Tesla later claimed his support for Bitcoin and said that it is brilliant and much better than paper money. All of these praises come from a Musk-led crypto community to believe that Tesla would soon be starting to accept Bitcoin for car purchase, but the dream is yet to come true even at this time.
The latest crypto association for Musk is the popular meme cryptocurrency, Dogecoin. Last week, Musk said that Dogecoin is his favourite cryptocurrency and in an April Fool’s poll, the cryptocurrency’s official Twitter account asked their followers who their next CEO should be with Musk winning by a landslide.
With this, Musk played along changing his Twitter profile from former CEO of Dogecoin to CEO of Dogecoin.
Musk has a lot of passions and its clear that cryptocurrency is one of them. He has become well-known in the cryptocurrency industry and is aware of how well the system works.
His profile has been used several times by crypto scammers and when it comes to fighting these scams, Musk is very serious.
Despite this, his belief in crypto hasn’t been diminished and he could go even deeper into cryptocurrency through investment or accepting it at Tesla.
Imagine a world where cryptocurrency is accepted by Tesla… adoption would be sure to skyrocket in no time.
Source: Crypto Daily

Bithumb Exchange Subject To ANOTHER Hack

Last month, the popular crypto exchange Bithumb was hacked and they have reported a $180 million loss on the matter. Following the hack, the exchange asked users to always be careful about deposits but Bithumb is now suffering from reduced actual volume and a bear market in cryptocurrencies according to a local news source.
The crypto space hasn’t been kind over this past year. Things haven’t gone well with Bitcoin crashing below $3,500 in November last year and when it comes to Bithumb, things are no different. Nine months ago, twice as much went missing and a report later surfaced which found that the firm has more than likely reported fake volume metrics. At this point though, longtime users may be considering other exchanges with a stronger security track record. The exchange laid off dozens of staff workers in January during one of the worst bear markets in crypto history.
With all the chaos of decentralised exchanges like Bithumb, Quadriga CX and Cryptopia getting hacked every five minutes, it seems that Decentralised exchanges (DEXs) are the way forward.
Non-custodial solutions are popping up too with their solutions presenting their own challenges. In general, though a user must be more educated. These kinds of exchanges might be more difficult to ensure – if a company can’t provide full control of the funds being traded, it could lead to some legalities. The first and biggest decentralised token exchange on the Ethereum blockchain is Etherdelta and was hit with regulation by the US federal government last year.
The Bithumb exchange told the Korea Times that despite the hack, the future seems bright saying, “In terms of sales, we saw a 17 percent increase, and we continue to increase overseas investments.”
As reported by CCN, “Decentralized versions are one existential threat to the dominance of traditional exchanges, but ultimately users prefer convenience, volume, and ability to conduct high-frequency trades.” The cost of transactions on a blockchain like Ethereum or Bitcoin will at times be much higher than the cost of trading on a centralised exchange. For traders who conduct thousands of trades per day, these fees would be very restrictive, to say the least. This essentially sustains the market for the old exchange model.
Source: Crypto Daily

BTC Trader Sentenced To Two Years In Prison

Jacob Burrell Campos of Mexico recently got sentenced to two years in prison and to give up all illicit profits generated from operating an unlicensed money transmitting business. Campos was arrested on 13th August last year and has been in custody without bail since that time.
He was on trial by 29th October 2018 where he pleaded guilty and admitted to operating a Bitcoin exchange without registering with the Financial Crimes Enforcement Network of the US Department of Treasury and without implementing the required anti-money laundering safeguards.
Campos generated the fraudulent profits of more than $823,300 which he will forfeit from the unlicensed money transmitting business by selling hundreds of thousands of dollars in Bitcoin to more than 1,000 customers through the United States.
Campos is said to have advertised his firm on Localbitcoins.com and communicated with his clients through email and text messages. This was often done using encrypted applications. He negotiated a commission of five percent above the prevailing exchange rate and accepted cash in person through nationwide ATMs and MoneyGram.
Burrell admitted that even though he had no anti-money laundering or Know your Customer kind of program, he performed no due diligence on the source of his customers’ money.
As reported by RTT News:
“Explaining his modus operandi, Burrell said he began by purchasing his supply of Bitcoin through a U.S.-based, regulated exchange, but his account was soon closed because of the large number of suspicious transactions.
He then moved over to deal with a Hong Kong-based cryptocurrency exchange to buy a total of $3.29 million in Bitcoin, in hundreds of separate transactions, between March 2015 and April 2017.”
Burrell provided his customers with anonymity and privacy. But he also exchanged more than $1 million in unregulated cash.
Robert Brewer is a US lawyer who spoke on the matter saying, “the federal government will continue to investigate and prosecute all white collar criminals who refuse to comply with the anti-money laundering laws of the United States, and who assist others in avoiding scrutiny of their ill-gotten gains.”
Source: Crypto Daily

Bakkt’s Mission To Make Crypto Mainstream Quickly Approaching

Bakkt is a very anticipated Bitcoin futures exchange from Intercontinental Exchange, the parent company of the New York Stock Exchange and it has now hinted at a new release day.
As Bakkt’s CEO, Kelly Loeffler writes in the announcement, posted on Medium, that ‘race day’ is approaching as the startup is awaiting regulatory approval from the US Commodity Futures Trading Commission.
“As we work through regulatory approvals, we are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.
As a former marathoner, this point in time recalls the stage in the training regimen when you’re putting in long runs with your training team. Race day is approaching, and there is more work to be done. I’m proud to be going the distance with this growing team and of the culture we are building, while bringing digital assets into the mainstream economy.”
Appearing on BlockTV, CFTC Commissioner Dan Berkovitz says he and the team is working day and night on all the applications that they’re reviewing, including Bakkt. Even though there were several delays of Bakkt’s application, the Commission is pro-crypto as well as pro-innovation and the regulatory rigour, he explains that is about getting the ‘bad guys’.
“We think that these technologies may take some time to develop. In the short term, there may be uses for cryptocurrency. In the longer term, blockchain – I think we’re looking at a process of several years.”
The team over at Bakkt has just expanded with the new hire Mike Blandina. A former Silicon Valley software engineer, Blandina joins Bakkt as the firm’s chief product officer.
Blandina’s main focus though is all aimed at use cases for Bitcoin and cryptocurrencies in the real world. Blandina has served as a digital payments specialist in the past as well as the head of payments and credit engineering at PayPal and director of engineering for Google Wallet at Google.
Source: Crypto Daily

VeChain Continues to Grow with New Strategic Partnership

The crypto space is primarily is focused around revolutionising the fintech and banking industry as the first cryptocurrency ever created, Bitcoin was created to be used as a currency like digital cash.
Even so, with this innovative industry develops and matures, a number of other blockchain use cases have come to light and the tech is affecting an variety of different industries. One of the leaders at the front of this cryptocurrency project, VeChain which is innovating a number of industries other than finance.
Aside from the plans and developments on VeChain to target supply chains, logistics, automobiles, Internet of Things, government affairs and blockchains IDs, they have delved into the fashion industry with innovative blockchain solutions.
At the start of April, one of the biggest collective multinational consumer electronics and home appliances, Hairer held the Global Release of the Achievements of COSMOPlat Industrial Internet Eco Brand Platforms event where they announced a strategic partnership with VeChain and DNV GL.
COSMOPlat is a newly launched Internet of Clothing platform that will use the VeChainThor blockchain protocol to create the first blockchain-based clothing life cycle management platform.
The goal of the VeChain partnership and COSMOPlat platform isn’t to just provide to merchants but to other clothing industry with complete transparency and connectively between themselves, but also to include the consumer too.
The VeChain Foundation posted a blog on Medium, in which the Executive Director of Haier Institute of Industrial Intelligence, Zhang Weijie stated:

“This strategic cooperation [with VeChain] empowers the clothing lifecycle management system through public blockchain technology, enhancing consumers’ trust which is becoming essential for a business to succeed. An ecosystem approach is the best way to increase levels of transparency and trust, with innovative solutions that bring together various technology elements combined with verification activities.”

With VeChainThor’s blockchain technology and the COSMOPlat platform, a massive string of data information between stores, farmlands, factories, consumers and more will be created for Haier’s fashion line products.
In terms of price, VeChain is currently sat at the 24th place on the top 100 according to CoinMarketCap. The price of the token is $0.006 following a one percent decrease over the past 24 hours at the time of writing.
Source: Crypto Daily

TRON Is The Fastest Growing dApp Platform But Developers Still Prefer ETH

Earlier this week, a report published by the dApp analytics website dapp.com who has revealed that TRON has the fastest growing dApp user base compared to Ethereum’s that is rapidly shrinking.
On the Ethereum chain, there was a four percent decrease in the number of dApp users compared to last year. More than 72,000 old users are still using Ethereum-based dApps in 2019. Decentralised Exchanges (DEXs) are responsible or more than half of the ETH dApp transaction volume, shortly followed by gambling apps.
On top of this, gamers were reportedly the most active ETH dApp users with more than 40 percent of the daily active dApp users being games. The report states “The Ethereum-based games have already created a stable community with a group of loyal audience.”
According to the report, in the first quarter, 504 dApps were added to the list of which more than half were based on Ethereum.
“It shows that Ethereum is still the No.1 choice for developers to build their dapp on. At the same time, we also have seen a trend in multi-chain developing, as many Ethereum dapps expand on multiple chains, such as Ethereum + EOS or Ethereum + Tron.”
The total number of active dApps users on the TRON blockchain allegedly summed up to more than 300,000. On the other hand, EOS was on 260,000. By the end of the first quarter of this year, the number of TRON wallets apparently went over the $2 million mark and around 15.5 percent of them interacted with dApps. The main driver of growth in the number of TRON dApp users were supposedly gambling apps.
With TRON’s dApp users, around 85 percent of them interacted with the apps in the first quarter. With this in mind, it suggests that the most active chain among the four blockchains.
As reported by CoinTelegraph:
“The report also points out that 95 percent of EOS DApps reported a transaction in the first quarter of the current year, as did over 80 percent of Tron and Steem (STEEM) based decentralized applications. On the Ethereum chain, which beats the others when it comes to the number of apps it hosts, there were nearly 600 DApps which did not report a single transaction over the past three months.”
Source: Crypto Daily

Visa Card Launched by Coinbase: BTC Mass Adoption Just Around the Corner

2019 is expected to be the year that will send cryptocurrencies to new highs and the journey towards mainstream adoption is well underway.
A recent milestone has just been made towards just that. Coinbase has announced they are launching a Visa debit card, allowing users to easily spend their crypto assets, including Bitcoin, Ethereum, XRP and Litecoin.
The leading US crypto exchange says the card is coming to the UK first and will let users pay with their digital assets directly.

“Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. When customers use their Coinbase Card, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase…
This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account.”

The US exchange is also going to be launching a new app to help users take control of their funds.

“To help customers manage their spend, we’ve also launched the Coinbase Card app, which enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending. Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home. The app also offers instant receipts, transaction summaries, spending categories, and more.”

The card is to be issued by Paysafe Financial Services Limited, which is completely authorised by the Financial Conduct Authority. According to a recent report by Forbes, Bitcoin, XRP, Litecoin and Ehtereum are the first coins that will be supported out of the gate. Coinbase is waiving the issuance fee for the first customers to sign up.

“To celebrate the launch of Coinbase Card, we’re waiving the £4.95 card issuance fee for the first 1,000 people to join the waitlist. Coinbase customers can download the iOS and Android app today and securely link their Coinbase account. Once linked, the crypto balance held on Coinbase will be immediately available to use through the virtual card, and their contactless Coinbase Card will be sent in the post.”

In the future though, Coinbase says it will support other European countries over the course of this year. So far, no plans have been announced to launch the card outside of Europe.
Source: Crypto Daily

What People Don't Understand About Full Bitcoin Nodes

At the recent 2019 Bitcoin Expo at MIT in Massachusetts, one of the panels was focused more on the future of adoption for Bitcoin and the Lightning Network. This panel featured the Zap wallet founder, Jack Mallers, Buidl Bootcamp Instructor Justin Moon and Lightning Power Users founder Pierre Rochard.
In fact, at one point during the panel conversation, moderator Marcin Jachymiak of the MIT Bitcoin Club asked the panel for their thoughts on some of the misconceptions around running a full node.
One misconception that Rochard brought up was to do with hardware requirements in terms of computer resources required to operate a full node.
Rochard highlighted that some people think that they need 250 gigabytes worth of disk space in order to run a full node when that amount of disk space is only needed if the person wants to run a full archival node with a full history of transactions on the network.
Rochard said, “You can set [the node] to be pruning, and then you only need 10 gigabytes of disk space.”
When Rochard’s Node Launcher software is used, pruning will automatically be activated if a low amount of available disk space is detected.
Rochard went onto say, “There’s little UX tweaks we can do around that to make things easier.”
Bandwidth is another area of worry for potential full node operators. The bandwidth-related issues sometimes found during an initial block download are a key part of the argument that Bitcoin’s block weight limit should be lowered.
“From that point of view, we need Neutrino,” said Rochard. “We needed it yesterday, but we’ll probably get it at some point this year.”
Bitcoin full node
Another misconception was that some people don’t understand why they need to run a node in the first place.
Rochard said, “There needs to be more education about why a full node should even be run on your laptop or your desktop at all, and also how to actually use it.”
Adding on to this:
“It doesn’t matter if you spin up a full node and then don’t use it. At the margin, it might help the network a little bit, but it’s really not why one should be spinning up a full node. You should be spinning up a full node because you want to use Bitcoin in a trustless manner, and also, there are privacy advantages, et cetera.”
Finally, Rochard added that a lot of these misconceptions around a running full node have assisted in shaping the direction of the launcher project.
Source: Crypto Daily

Launch Date Revealed For TRON’s Second-Layer Solution

The popular CEO and founder of the TRON platform, Justin Sun has recently revealed the firms plan for the Sun Network, TRON’s second later scalability solution. The network’s testnet will reportedly launch in the second half of May and will improve the TRON network’s transaction capacity and overall scalability.
As most of you will know, TRON is the most heavily marketed blockchain platform across the globe and has announced a new second-layer solution for its blockchain. Sun has always been a prominent member of the crypto space and often takes to social media to promote everything he can about his company.
Last week, Sun announced that TRON has been working on a second layer solution, the Sun Network.

#TRON will release the detail of #Sun Network soon! #SUNNetwork is our layer 2 solution to achieve 100X scalability. #TRON’s dapp usage is poised to scale from the current millions to hundreds of millions after launch. GO #TRX and #BTT! #BitTorrent #BTT #TRX
— Justin Sun (@justinsuntron) 3 April 2019
Just over a week after the tweet, Sun has revealed the launch date for the network, as well as the project’s expansion plans.
According to TRON’s recent post, the first of the three stages of the dApp Chain will be the testnet. For those that don’t know, the dApp Chain is TRON’s new personalised way to run decentralised apps. The launch of testnet is aimed to be released on 30th May and will mainly focus on supporting sidechain smart contracts.
Source: Crypto Daily

$1 Billion Being Raised For Facebook’s New Stablecoin

Facebook is looking for VC companies to invest in its cryptocurrency project for sums as large as $1 billion, according to a reporter from the New York Times. Apparently, the firm is designing its crypto as a stablecoin for WhatsApp using a basket of foreign currencies as collateral.
Since last year, Facebook has been working hard on a cryptocurrency project and building a blockchain division within the firm. The social network hasn’t said much on the crypto project but so far, they have hired at least thirty people to the division with the former head of Messenger and the previous President of PayPal, David Marcus being put at the Director of Engineering Blockchain.
$1 Billion
The New York Times reporter, Nataniel Popper posted a thread of tweets on 8th April with new information gathered from sources on Facebook’s blockchain project.

Update on Facebook’s cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b.
— Nathaniel Popper (@nathanielpopper) 8 April 2019
Even so, based on Facebook’s financial statements, the company has $10 billion in cash and cash equivalents alone so it’s safe to say they aren’t tight when it comes to finances. Popper speculates this because one of the blockchain’s appealing properties is decentralisation, then acquiring outside investors could help in presenting “the project as more decentralized and less controlled by Facebook.”
One source has purportedly revealed to the reporter that the firm is raising funds in order to collateralise a stablecoin.
Unlike other stablecoins, Facebook’s coin would be backed by a collection of foreign currencies. This would mean it is more resilient to volatility, even against currency exchange rates. This kind of stablecoin could have a huge impact on the need for industries like Forex.
Finishing off, the NY Times reporter said, “It’s interesting to think one of the richest companies on earth [is] raising money.”
Source: Crypto Daily