The Tron Foundation and Justin Sun, the Chief Executive Officer [CEO] of the organization, were in the news multiple times due to the sheer number of updates and developments from the company’s roster. Tron [TRX] recently announced its partnership with Tether [USDT] to create a new stablecoin.
In a recent post, the Foundation revealed features that would make the USDT-Tron pair better than stablecoins like OMNI. Tron tweeted,“TRON’s partnership with @Tether_to to bring $USDT on the #TRON blockchain will make transactions faster and free, and provide more use cases. This is a significant improvement from the last generation of stable coins like Omni.”
The report showed that with respect to transaction speeds, Tron was far superior than OMNI. Transactions on the Tron network are settled immediately, whereas it takes up to 3 hours on the OMNI network. In terms of fees, transactions on Tron are free, while people using OMNI are required to pay $7 per transaction. According to Tron, USDT-Tron can be used for trading the Tron DApp House, as well as its latest acquisition, BitTorrent.
Earlier, Sun talked about Tron’s superiority over OMNI by talking about the multitude of features that are only available on Tron’s network. He stated,“First of all, USDT Tron will offer the liquidity in Tron decentralized exchange. Second, USDT Tron will offer TRX holder, a new way of value storage. Third, USDT Tron will provide the DApp users, a new way to play DApps, which also minimize the risk of the cryptocurrency. Fourth, USDT Tron will give Tron blockchain new legitimacy and the increase the confidence of the institutional investor in that show.”
OMNI is a renting service based in San Francisco and Portland, and it made news previously, when the company introduced XRP as an option for cash outs. Thomas McLeod, the CEO of OMNI, stated,“So there’s a world in which everything that you have you should be able to connect with other people and other people should be able to use those things as well so if you have a bike and you’re not using it someone else can use it when you’re not using it and now you can also make money on top of that.”
Justin Sun Donating More Than $1 Million For UBI Program By US Presidential Hopeful
The main man, CEO and founder behind TRON, Justin Sun has recently revealed that he will be giving away more than $1 million to 100 people in 2020 in order to show support for Andrew Yang, the US presidential candidate for next years election and his universal basic income (UBI) program. On top of this, the decentralized network is starting a 50,000 TRX giveaway for users of the digital assets Telegram group – that would be equal to $75k!
Sun has had quite a controversial year after spending $4.5 million on a charity lunch with Warren Buffett, only to postpone due to health issues (which is another controversial issue).
On top of the now $1 million donations to Yang’s campaign, TRON’s founder revealed that one of the 100 selected for the giveaway will be invited to sit down with him and Buffett in 2020.
So now we have a time range for the charity lunch, which is one of the most highly anticipated events of the crypto space, to take place in 2020. Presumably, it will occur in the first half and perhaps even first quarter but only time will tell.
In order to qualify for the promotion, users will need to engage in a conversation with the @TRONEnBot according to a tweet by the official TRON Foundation.
BitTorrent to release beta version of BLive ahead of schedule
BitTorrent announced today that it would be launching the beta version of its BLive streaming app on 20 September, ahead of schedule, while also hinting at prizes for the cryptocurrency community. BLive is a blockchain livestream platform based on the TRON and BitTorrent Protocols.
BitTorrent had already started internal testing of BLive in late-August, with the beta planned for public release during Q4 of 2019. The main feature of BLive is that users will be able to reward their favorite content creators using BTT tokens from anywhere around the world. This would in turn, give users of BTT a real means of making international transactions at low costs.
According to the announcement, streamers will receive around 30% of the revenue shares, which is much more than what is offered by traditional streaming platforms like YouTube. Founder of TRON and CEO of BitTorrent, Justin Sun, welcomed the annnouncement and tweeted,
“With the continuous growth of telecommunication technology and social media, livestreams have gained a tremendous edge and have become the dark horse of online communication. It gives rise to outstanding content creators who have thousands of followers but don’t get their fair share of advertisements and virtual gifts.”
By Q1 of 2020, BitTorrent wants to see the platform’s full, commercial version being rolled out, and will begin extensively promoting it in overseas markets by establishing subsidiaries abroad. BiTorrent also plans to recruit and train broadcasters to create a better community ecosystem, while setting up local deposit stations in areas with poor infrastructure and educating users on blockchain to make its products more accessible.
BLive will support various payment and withdrawal methods, including credit cards, as well as third-party payment systems like PayPal, Google Wallet, Apple Pay and Bitcoin.
TRON market update: TRX/USD tests DMA50 for the first time since July
- TRON’s TRX has recovered strongly from recent lows.
- The major resistance is created by SMA5o daily at $0.0178.
TRON (TRX) is one of the best performing coins on Wednesday. TRX/USD has gained over 10% of its value to trade at $0.0178 by press time. While the coin has retreated from the intraday high ($0.0178), the upside momentum is still strong as TRX is moving in sync with the rest of the market. TRON’s market value is registered at $1.16 billion, it is the 14th largest digital asset according to the rating compiled by CoinMarketCap.
TRON’s technical picture
The initial support is created by $0.0170. This barrier si created by the middle line of the one-hour Bollinger Band. Once it is out of the way, the sell is likely to gain traction with the next focus on $0.0162 guarded by a combination of SMA50 (Simple Moving Average) one-hour and SMA200 four-hour. This support is closely followed by $0.0160 ( the middle line of four-hour Bollinger Band) and $0.0154 (SMA50 four-hour).
On the upside, we will need to see a sustainable move above the intraday high of $0.0178 strengthened by SMA50 daily for the upside to gain traction with the next major aim at $0.02.