The CEO and founder of Tron blockchain technology, Justin Sun, has just announced the unveiling of a development on its blockchain network to better the experience of users in the space.
The millennial tech savvy aired that the team behind the blockchain technology has designed a newly defined storage system known as distributed storage protocol.
The statement mentioned that the storage protocol consist of block storage and state storage. It also has a graph database for the enhancement of diversified data storage in the real world.
“The tech team of TRON designed a unique distributed storage protocol consisting of block storage and state storage. The notion of a graph database was introduced into the design of the storage layer to better meet the need for diversified data storage in the real world,” Sun said.
Today’s Gazette further learnt that the protocol which will be serving the network’s Dapp section and wallet was designed with five programing languages. This includes; C++, Python, Scala, Java and Go.
The latest development shows Tron’s commitment towards making the world a better place for users of blockchain network with decentralized technology.
Earlier, Tron introduced
However, it looks like Tron’s hard work is paying off for the blockchain network lately as founder Justin Sun declared that its network was ranked as the largest growing network in Q2 of 2019 in terms of new users.
Tron Sees Over 300,000 Users Increase in Q2
According to Dapp.com, more than 300,000 new users were registered on Tron-based DApps in the second quarter of the year.
The report cited that Tron-based blockchain dApp networks recorded the largest increase among other platforms in the quarter.
Also, Tron rose to be the number one blockchain network with active users within the same period after surpassing Ethereum.
However, even though EOS’s number of transactions was the highest with 189.79 million, Tron managed to secure a good position (second) with 89.8 million transactions.
TRON price prediction: Teasing head-and-shoulders breakdown
- The No. 13 cryptocurrency finds buyers again ahead of 0.01380.
- Recovery appears shallow amid weakness across the crypto space.
TRON (TRX/USD) stalled its overnight decline and jumped sharply from daily lows of 0.01380 in Sunday’s early trading. However, sellers continued to lurk just below the 0.01410 handle, leaving the coin side-lined over the last few hours. The world’s thirteenth most widely traded digital asset, currently, trades close to the 0.01400 level, in absence of weekend love across the crypto space. The spot is down almost 4% over the last 24 hours, with a market capitalization of $ 929 million.
TRX/USD daily chart
Despite the recovery attempts, TRX/USD remains exposed to further downside risks, as the price teases a head-and-shoulders (H&S) breakdown, as spotted on the daily sticks. Should the bears regain poise, the cryptocurrency will test the pattern neckline once again, now placed at 0.01317. A daily close below the last will confirm the H&S formation (bearish reversal pattern), paving way
Meanwhile, the recoveries will continue to lack substantial follow-through as long as TRON remains below the bearish 21-DMA at 0.01485. If the bulls manage to overcome the 21-DMA hurdle, the horizontal 100-DMA at 0.01629 will be a tough nut to crack.
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Tron News Today – Top Headline for Tron TRX December 14th, 2019
- Massive TRX order via BitMex exchange
- Scammers impersonating Justin Sun following USDT growth
- Binance U.S assessing TRON’S TRX
Tron recently received a large order via the BitMex exchange platform. The order volume was 8,314,848 trades, which has been traded on the 4-hour candle. This is a new height for the coin after hitting its largest order on November 22nd, though the order came as a result of a sell-side. Before this, the biggest buy order of that volume occurred on 15th August, this is most likely a once in a while situation for the coin.
TRON (TRX) Price Today – TRX / USD
Tron Price Analysis – since Thursday, the price of the coin has been trying to pull out from the Lows and the 0.01420 is currently the new resistance level in the way of a higher move. Away from this price, the next resistance is likely to be 0.01492 on the way up.
Tether (USDT) has reached an outstanding firmness in the digital sphere with a Tether (USDT). A Tether (USDT) is a cryptocurrency processing on blockchain mechanism distributed on TRON (TRX) network, has accomplished remarkable constancy in the digital space with an enormous 916 million stable coins inflow. According to several predictions that TRON based USDT may get substantial recognition taking over a quarter of all distributed
USDT, although created to provide steadiness and precision during the transaction, its influence in the digital space has advanced as there are several other factors in Bitcoin (BTC) price discovery. The overall volume of USDT has been at an incessant value of 4,108,044,456 coins, but its configuration on other blockchain networks differs.
Scammers Impersonating Justin Sun following USDT Growth
The recent growth in USDT has opened doors for new scams. An announcement was made by TRON Europe on December 12th, 2019 warning the general public to be conscious of fake USDT since impersonators of Justin Sun, CEO of Tether foundations has been promoting such fake USDT and selling them to inexperienced buyers and in some cases going as far as seeking for a partnership deal.
Binance U.S Assessing TRON’S TRX
Binance U.S would be testing TRX for listing, though it is not yet guaranteed it will be on asset add-on. TRON, its prospect of getting centralized has summoned several criticisms, despite that the network is relatively legendary for gambling distributed apps. The asset runs on TRON network resources to develop rewards that can be sold on the open market.
TRON’s founder account on Weibo blocked, TRX/USD feels the pain
- The “Chinese Twitter” blocked the account of Justin Sun.
- TRX/USD has been on retreat following the news.
Chinese social media network Weibo, which is often called “Twitter for China,” blocked the account of TRON’s founder Justin Sun.
Dovey Wan, a founding partner of Primitive Ventures, wrote on Twitter:
BREAKING and FINALLY … @justinsuntron ‘s Weibo (Chinese Twitter) account is now officially SHUT DOWN. totally not surprised given how loud he has been on Weibo even after the Buffet Lunch/kidney stone drama…
Notably, Sun is known for his controversial marketing tactics that are often criticized both in China and around the globe.
Sun stayed calm and encouraged TRX holders todo the same. He assured TRON users that he would resolve the issue with Weibo via a “direct communication channel.”
TRON is super safu! Just follow me on @justinsuntron. We have a direct channel to Weibo and will get this resolved asap.
TRON feels the pain
Meanwhile, TRON (TRX) has been losing ground following the news. The 14th largest coin with the current market value of $915 million, has lost over 2.6% on a day-to-day basis to trade at $0.0137 at the time of writing. TRX/USD is also down 6% on a weekly basis and over 31% on a month-to-month basis.
Looking technically, TTRX/USD is moving within the downside channel. The initial support is created by $0.0133. This barrier is reinforced by the lower line of the daily Bollinger Band and the lowest level of
On the upside, the initial resistance awaits us on approach to $0.0148. This area limited the recovery at the beginning of December; also, it is reinforced by the middle line of the daily Bollinger Band. Once it is out of the way, the upside is likely to gain traction with the next focus on the confluence of SMA100 (Simple Moving Average) daily and the upper line of the Bollinger Band (currently at $0.0163).
Considering the downward-looking RSI (Relative Strength Index), the bearish scenario looks more likely in the short run.