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Ripple (XRP) Price Forecast

June 16, 2019 by TheCryptoToday Leave a Comment

Ripple, which is also referred to as XRP, is the third largest cryptocurrency by market capitalization. It was founded with the objective to facilitate international payments for banks. Ripple was released in 2012, making it one of the oldest cryptocurrencies. The design choices applied for Ripple represent an alternative approach to the Nakamoto Consensus which is used in conventional blockchain platforms such as Bitcoin.

Fundamental price analysis

Unlike other leading cryptocurrencies all XRP was initially premined. This implies that a very large share of the circulating supply is concentrated in the hands of the founders

Chris Larsen and Jed McCaleb. As Jed McCaleb moved on from Ripple he started gradually selling his Ripple stake. Besides the founders an even larger share of the Ripple tokens is controlled by Ripple Labs, Inc., the company behind Ripple.

Ripple is unlike Ethereum no smart contract platform. Comparable with Stellar, Ripple has the objective to facilitate international payments in a digital world where fees and intermediaries complicate the life for people to financially interact with each other across borders and without any friction. To serve this purpose Ripple has two products to offer which are xCurrent and xRapid.

The design of Ripple as a payment network comes with a unique consensus mechanism which is substantially different from the Proof of Work consensus mechanism of traditional blockchains such as Bitcoin. Ripple makes use of a HashTree in order to secure consensus. The technology is patented by Ripple Inc. the company behind Ripple.

It is remarkable that Ripple was only added to Coinbase in February 2019 given the fact that the cryptocurrency was one of the earliest to become popular.

Historical price analysis

Ripple is one of the first cryptocurrencies to be around in the space. XRP was dominating the cryptocurrency market as the second most valuable asset in 2015 only behind Bitcoin. Thereafter 2016 saw the emergence of Ethereum which eventually would take over the place from Ripple as the second most valuable cryptocurrency, which it remains until today. There were several moments in time when Ripple was able to regain that position from Ethereum, but none of these occurrences was persistent. Neither Ripple nor Ethereum nor any other cryptocurrency were able to dethrone Bitcoin from being the most valuable cryptocurrency at any point in time.

Ripple’s absolute price peaked at more than 3 USD in January 2018. This point in time marked the all time high for many altcoins and the termination of the 2017 bull run. A severe price correction followed which continued until the end of 2018 and marked a more than 90% correction in price for XRP.

In the first half of 2019 XRP remained below expectations despite an improving market sentiment. Only in the months of February and May XRP showed a positive price performance while BTC closed with a green candle four months in a row from February until May 2019.

Besides the price evolution of Ripple compared to the US dollar, it is also worth taking a look at the XRP/BTC ratio. Ripple peaked against BTC in May 2017 and January 2018. Based on this historical data we can conclude that Ripple is particularly strong at the height of extremely bullish market movements in which Ripple outperforms Bitcoin just as many other altcoins do. At the current point in time Ripple is trading close to its yearly low on the BTC ratio offering an interesting entry point for those who want to invest in Ripple.

XRP price prediction by end of 2019

The community sentiment for Ripple in 2019 has so far been only modest. Despite the multi annual development efforts the actual adoption of Ripple so far is still modest. Therefore community members are raising concerns and question whether XRP is a sleeping lion or whether it had already its best times behind it.

Just as at the very beginning of the blockchain market also in 2019 the correlation of cryptocurrencies is highly positive and for this reason the price evolution of Ripple depends strongly on the overall market. The sentiment in the blockchain ecosystem in 2019 is so far bullish and most market observers expect it to remain so in the second half of 2019.

Based on the severe decline of Ripple in 2019 the cryptocurrency has a lot of room to move up to previous all time highs. The market capitalization of XRP peaked at 141 billion USD in January 2018. From today’s perspective it is unlikely that Ripple will regain this value again in 2019 based on the most recent performance. However, if Ripple could regain a third of its peak market capitalization in 2019 many investors and industry observers would consider this as a successful year for Ripple. This would value Ripple at a market capitalization of more than 45 billion USD and a price of more than 1.15 USD and seems to be a realistic scenario for the end of 2019.

XRP price prediction by the end of 2020

In order to make a more long term price prediction it is necessary to assess the potential for future adoption of the technology provided by Ripple. As of today there a numerous banks experimenting with the RippleNet of which probably Santander is the most famous example. However, the adoption seen so far is mostly experimental and not yet substantial. Nevertheless, this statement is valid for every cryptocurrency at the current early stage of the industry.

In the recent months the competition for Ripple has intensified. The huge US bank JP Morgan has launched its own cryptocurrency JPM coin which tries to offer a similar value proposition as Ripple. However, the Ripple leadership believes that digital currencies which will be issued by one particular bank will not be adopted by the entire banking industry. Besides JP Morgan also Facebook is trying to move into a territory that Ripple would like to serve with its soon to be announced stable coin.

The recent developments both in terms of price performance and market development put significant pressure on Ripple. Therefore we expect the price of Ripple to surge no higher than 3 USD by the year 2020. This means that Ripple might be touching its all time high again in 2020.

Conclusion

The momentum has shifted away from Ripple during the massive 2018 bear market. In order to regain the market confidence XRP depends on significant user adoption of the technology. The centralization of the funds makes it harder for the Ripple community to compete with other large crypto communities. Our price estimates for 2019 and 2020 are therefore cautious and conservative. Nevertheless, we expect decent returns for Ripple in the course of the next two years even though these may be below the market average.

(23 votes, average: 1.83 out of 5)

Best Litecoin Wallet

June 14, 2019 by TheCryptoToday Leave a Comment

In the emerging world of digital currencies, the Litecoin is one of the fastest growing digital assets since it was launched back in 2011. The Litecoin is an open-source, and a peer-to-peer digital asset that offers lower transaction fees compared to the others. More than that, this digital asset is known for its fast and reliable processing times compared to the popular Bitcoin.

If you are thinking of buying a Litecoin and would want to keep it for a longer period of time, the need for a Litecoin wallet should be your utmost concern. You need to find a secure and safe wallet where you can store your assets anytime and anywhere. The use of Litecoin wallet is deemed important for asset holders as this allow them to store, send, and receive transaction from other platforms.

However, while there is a continuous advancement in the digital space community, it is inevitable for these digital wallets to have grown in numbers at the same time. Hence, you need to have thorough research and get a certain level of knowledge in order for you to get the best Litecoin wallet for your digital assets.

Top and Best Litecoin Wallets for 2019

When looking for the best wallet for your Litecoin asset, you have to consider important factors and characteristics. The wallet has to be secured and active for each transaction you are going to make. Moreover, it needs to have a backup feature and must be compatible with the device you are currently using. With that, consider the list of wallets below that you can consider picking for as these are the best Litecoin wallets for this year 2019.

#1 Ledger Nano S – If you are looking for a premium and a most secured hardware wallet, then you can never go wrong if you choose to have the Ledger Nano S. Storing numbers of Litecoin for a longer period of time is very much advice to be done with this hardware wallet. The Ledger Nano S has a two-way factor authentication and users will have full control over their private keys. Meanwhile, it also has an OLED screen, a backup feature in a form of seed, and a pin code feature for an added security. To send, receive, and store your Litecoin assets with this wallet is very possible.

#2 Trezor – This is another hardware wallet that comes next after the Ledger Nano S. This wallet supports multi-currencies and that basically includes the Litecoin token. Just the same with the Ledger Nano S, this wallet also has an OLED screen which randomly shows the generated pin code and 24-word recovery seed should there be a need for your wallet to be backed up and recovered. Read more about Trezor!

#3 Free Wallet – This is another variant of wallet since this function as an online wallet for the Litecoin. One of the best things about the Free wallet is the fact that it offers free transaction to its users. Furthermore, users can opt to buy cryptocurrencies with the use of a credit card. This Free wallet is available for download for the smartphone devices and is compatible for use for both iOS and Android users.

#4 Jaxx – This wallet is relatively one of the newest crypto wallets ever existed in the digital market today. This is also a multi-chain type of wallet that supports up to almost seven digital assets including Bitcoin, Litecoin, Ethereum, Dash, and the Ethereum Classic. The Jaxx wallet also gives users full control over their assets and it is highly accessible to both desktop and mobile devices.

#5 Exodus – This is considered as one of the best Litecoin wallets for desktop users. While it has been known to store about three down of different cryptocurrencies, the Exodus wallet is known as the best storage for the Litecoin. This wallet is known for its simple yet very good user interface and is highly recommended even for the beginner investors like you.

#6 LiteVault – It is a Litecoin web wallet that is known for being fast and easy to use in every transaction you make. It offers a free sign up process that will only take you for about 10 seconds to complete. It also has a private key feature; however, the LiteVault wallet doesn’t support any other currency apart from the Litecoin.

Understanding the Features of the Litecoin Wallets

Whether you are just starting or an expert in the digital assets’ community, you have to consider certain features that you should look for in selecting the best Litecoin wallet for your digital assets. Consider the important points below.

#1 The wallet has to have a user-friendly interface that is easier to use and to access. You have to avoid complicated and confusing types of a wallet as it may also affect your day to day transactions with your crypto assets.

#2 The wallet has to have the best security feature in order to assure the safety of your assets being stored. Make sure to look for a wallet which will despise your digital assets from being hacked and or being controlled by theft. It is preferable to use a digital wallet with a two-way factor authentication and a wallet that allows you to have full control with your private keys.

#3 The wallet has to have a backup facility feature. It is important to look for a backup feature for it to be easy for you to restore your wallet once the need arises or should there be something going wrong with your transaction.

#4 Look for a wallet with the best support system. Whenever you encounter problems with your digital wallet, it will be quick and easier for you to access their customer support. This is also to spare your head from trouble especially if you are still a newbie in the world of digital currencies.

Summary

Litecoin wallets come in various forms and most of them offer distinct features. Being an investor, make sure to choose a wallet that has to meet your need and the wallet that will adhere to the kind of transaction that you will pursue in the long years to come.

(23 votes, average: 1.57 out of 5)

Best Siacoin Wallet

June 14, 2019 by TheCryptoToday Leave a Comment

The Siacoin is one of the leading cryptocurrencies in the digital industry that powers the Sia network. Basically, the Sia network is a decentralized cloud storage system that allows anyone to rent out a spare of hard drive space or to utilize other people’s space in order to store files.

If you are one of the avid digital asset investors, then, you already have a certain level of knowledge when it comes to the Siacoin. This digital asset provides an open-source and a low-cost solution for the cloud storage and the distribution of files chosen for storage by certain users.

As of this writing, the Siacoin is the leading decentralized cloud storage as it requires no sign-ups, no servers, and no trusted third party at the same time. It has been able to leverage in the blockchain technology while it allows users to create data storage that is more affordable and robust compared to the other.

Important Features of the Siacoin Wallet

In order to safely keep your Siacoin, getting to know about the best Siacoin wallets in the market today would be of great benefit for you. Basically, when looking for the wallet that is of a perfect match for your need, you have to consider certain features which will make your transaction easier and smoother.

In order to get started, you can visit the SIA official website and get to some level of knowledge as to the different features of the best Siacoin wallet. Meanwhile, you can also check the list below and gain some insights as to the important features to look for a wallet for your Siacoin.

#1 Sia Seed – This is one of the most important features to look for a Siacoin wallet. It is important to get access to your Sia seed as it is your key to have full control over your Siacoin balance. On the other hand, the seed is also your key to your future files as well. Therefore, for you to have the safest transaction with your Siacoin wallet, make sure to get access to your most important seed.

#2 Back up – Another thing to look into a wallet is its back feature. In order to keep your digital assets safe at all cost, you need to have a backup of it all the time. In selecting a wallet, a backup is important in order to gain access over it especially when certain situations arise that you lose your wallet. If there is one of the most important features to consider, the backup of your wallet is deemed important.

#3 Easy-to-use UI – If you are still new in the digital market, then, basically, you are still a beginner in terms of the different digital assets and digital wallets available in the market today. Hence, in choosing a wallet, make sure to look for a wallet that is easy to use and of which will give you the easiest access. A simple user interface is important in order for you to have an easy and smooth transaction. Meanwhile, wallets with the simplest UI are also highly-recommended for beginner investors like you.

#4 Privacy Key – One of the main reasons why investors use a digital wallet is for them to store their digital assets safely. Hence, a private key is another feature that is very important when selecting the Siacoin wallet. Most of the time, private keys are made available in order for users to have full control over their digital assets. Not all wallets have the so-called private keys. Therefore, make sure to select the kind of wallet that is more secure than others.

#5 Compatibility – In order to ensure that making transactions will be easier for you as investors, you have to select the wallet wherein compatibility is never an issue. Digital wallets come in different forms and thus, make sure to look for the wallet that adheres to your need and to the kind of device that you use at the same time.

Best Siacoin Wallets Known for 2019

As of this writing, numbers of digital wallets are already made available in the market. However, if you are looking for the wallet for your Siacoin storage. There are only four best wallets to choose from. Take a look at the list below and be able to compare and choose the best Siacoin wallet that you deserve.

#1 Ledger Nano S – If you are looking for the most popular hardware wallet in the digital industry, then, you can never go wrong with this as your choice. This has been known as the best-performed wallet ever existed in the digital community which is known to support lots of digital coins and is enabled to store the private key into a separate device. This wallet is preferable by most of the investors since it is too far for the hackers and theft to get access to your stored digital assets. Its private keys will remain secure since the device is not connected to the internet. By then, the safety and security of the digital assets will never be compromised. Read more about Ledger here!

#2 Sia.UI – This one of the best Siacoin wallets online and is known as the official application made by the Nebulous, the developers of the Sia Storage Platform. This wallet best works for desktops which operate under the Mac Linux and Windows systems. Apart from that, the Sia.UI also works best to users who are using the iOS device.

#3 Sia Cold Storage – This is another platform that generates the seed and a collection of addresses for the Sia wallet. This wallet is used mostly by most of the Siacoin users; however, it hasn’t been officially endorsed by the Siacoin team.

#4 Sia Wallet Android – This wallet works best for the Android users and is among the top Siacoin wallets this year. Through this wallet, sending and receiving Siacoin is possible and you can also opt to store your files through the Sia network.

Summary

Whatever the kind of wallet you want to choose, make sure to choose the wallet which can offer you with the best and secured feature. Nowadays, to store your digital asset is no longer a thing to worry about if you are able to choose the right kind of wallet that must adhere to your need.

(17 votes, average: 1.59 out of 5)

What is Tron (TRX)?

June 12, 2019 by TheCryptoToday Leave a Comment

TRON is an interesting and incredibly ambitious digital currency project attempting to provide a decentralized platform to serve us users properly.

In Their Words:

“TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology.”

In Our Words:

TRON’s objective is to come up with an entertainment platform that grants content creators utter control over their content.
Think of a decentralized combination of Netflix, YouTube and the App Store.

Technology

The TRON project is one that is incredibly complex, as such, we will aim to highlight its key features but you are encouraged to go through their whitepaper and complete further research if you want to learn the more technical details as regards the project.

We will first discuss the TRON token.

The TRON Token

There are actually 3 different tokens involved in the TRON project: TRONIX, TRON Power and the TRON 20 Token; we’re going to quickly outline all three and their uses below.

TRONIX (TRX)– This is the token available for purchase/trade on the exchanges; it is required to access the TRON platform and is also used to buy and sell content upon it.
TRON Power (TP)– This is essentially locked up TRONIX; users volunteer to lock up their TRX and receive TP in return, as well as voting rights and other privileges in the TRON ecosystem. TRON Power is not tradable and would of course be a long-term commitment. TRON Power is similar to Steem Power used on the Steemit platform.
TRON 20 Token– TRON 20 Token allows content creators to create and issue their own tokens, similar to Waves and NEM.

The Platform

At its simplest, content creators will be able to list their content on the TRON platform and make it available for purchase; this content could be in form of music, films, images etc. These transactions will be completed using the TRX token and will not incur any fee charges.

The TRON ecosystem will as well incentivize content creators to encourage them to upload their content on the platform and help accelerate the TRON ecosystem.

Other cryptocurrency platforms will also be able to host on the TRON platform while offering their own tokens.

Users will be in the position transfer these tokens into any other on the platform using TRX as a bridge currency.

TRON Mainnet

On June 2018, TRON officially activated its mainnet, migrating from Ethereum blockchain, and completed coinburn of 1 billion TRX. Right after that Freewallet released the first TRX wallet for mobile and added TRX to Multicurrency wallet.

After mainnet launch TRON acquired BitTorrent, the pioneer in distributing computing, thus expanding its ecosystem with 100M new members.

IS TRON SOLVING REAL MARKET PROBLEMS?

Problem – Censorship & Centralization

In many countries internet censorship and restriction is rife; government intervention means users are regularly unable to access particular websites.

In China, for instance, people are unable to access Facebook or Snapchat, while the Iranian government has prevented access to both Instagram and Telegram.

TRON’s Solution

The decentralized nature of the project means it should be free from censorship or interference.

Problem – High Channel Fees

One problem experienced by content creators when trying to distribute their content is the high fees or commission rates charged by media platforms like the App Store and Google Play.

TRON’s Solution

Content creators will have utter control over their products as well as direct access to their consumers and, without the involvement of the middlemen, these costs are vastly reduced.

Token Economics

This is yet another incredibly important point that people often times overlook while investing in Cryptocurrencies – is the token price truly linked to the platform usage?

Investing in Cryptocurrencies is not the same as traditional investing, in which case you buy shares in a company. By investing in a cryptocurrency, you’re buying ownership. As the company makes increased profits, the share price will increase and your investment value will as well rise.

With the majority of cryptocurrencies, the tokens don’t represent shares.

As such, it’s possible for the company to be successful (i.e., the CEO and employees get rich) and yet the token prices may actually fall if they aren’t correctly linked to platform usage.

The ONLY factor determining token price is supply and demand on exchanges.

Obviously, supply and demand are affected by many factors but the price all comes down to the combination of these two. Because of this, it is essential to ask yourself the following two questions:

Demand – Will there be token demand on the exchanges?
Supply – Will there be excessive inflation hindering prices?

Let’s first look at demand:

What Are The Sources of Demand?

Users will be required to hold TRON tokens in order to access the platform and, on top of this, all transactions will also be completed using TRX.

As more content is listed on the TRON platform and users convert to the platform, the demand for the token will increase just as the price should.

The Result?

The price of the TRON token is sufficiently linked to the demand for the platform.

TRON has passed this test.

What Is The Likely Inflation Rate?

TRON generated a fixed supply of tokens (100 billion TRX) meaning a zero inflation rate but that doesn’t mean that new tokens won’t enter the market though.

A total of 40 percent of the tokens were sold during the Initial Coin Offering, meaning 60 percent of the tokens will enter the market at some point. So how will they be distributed?

35% – TRON Foundation/Ecosystem– It was recently announced that all of these tokens will be locked until January 1, 2020.
15% – Private Offering– No further details provided.
10% – Peiwo Huanle Technology Ltd– No further details provided but the organization’s CEO, Justin Sun, is also the founder of Peiwo. A question could potentially be raised here about where these tokens have in fact gone.

Coin Market Cap currently lists TRON as having a circulating supply of 65 billion; this would mean that all of the tokens that could enter the market have already done so.

As a result, we can assume that no more tokens will be entering the market until at least January 1, 2020 when the Foundation’s lock-in period expires.

Sun also announced on Twitter that the foundation has (TRON Foundation) had a coin burn which took place on the first quarter (Q1) of 2018, which decreases the circulating supply and an increase in token was felt as a result.

TRON has passed this test.

THE TRON TEAM & ROADMAP

The TRON Team

TRON possesses what seemingly is an extremely solid and well-rounded team. As a project overview, we will be providing our opinions on a few key players and we recommend that readers check out the TRON website for additional details as regards the team.

First up is the organization’s Founder and Chief Executive Officer, Justin Sun; previously involved with Ripple as chief representative for their Greater China Region. Sun is as well the founder of Peiwo, A Chinese social media platform with more than 10 million users.

He has also twice been listed as one of Forbes 30 under 30 (2015 & 2017), a depiction of the strong reputation he has within the business world.

Lucien Chen, the organization’s Chief Technology Officer (CTO) boasts a lot of experience in a number of first-tier internet companies while Product Supervisor Deuce Yu has extensive experience in the gaming industry, something that could be very beneficial to the TRON project when they reach the latter stages of their roadmap.

A final member worth mentioning is the Operation Supervisor, Charles Zhang, who is the former co-founder and COO of Elegance Space and additionally served as the Secretary-General of their Chicago branch.

Charles offers a vault of business knowledge outside of the crypto space and has been invited to give lectures more than a hundred times by Peking University, depicting just how well respected he is within the business world.

The TRON Roadmap

Another outstanding aspect of the TRON project is their extensive roadmap; a detailed six-stage, ten year plan, as highlighted below.

Exodus – August 2017 to December 2018– Content distribution platform.
Odyssey – January 2019 to June 2020– Focus on economic incentives and content empowerment to encourage growth.
Great Voyage – July 2020 to July 2021– ‘Personal ICO’ implementation – content creators will be in a position to generate their own tokens and host their own ICO, capacitating them to further generate content.
Apollo – August 2021 to March 2023– Building the fully decentralized trading platform for tokens.
Star Trek – April 2023 to September 2025– Creating a decentralised gaming platform for users to create their own games.
Eternity – September 2025 to September 2027– Users will be able to build their own gaming platforms.

Market & Partnerships

Operating in an industry that was worth $1.8 trillion USD in 2016, the TRON project also boasts quite a number of impressive partnerships already.

Through these partnerships with companies such as Baofeng, Peiwo and Obie, TRON has managed to garner over 200 million potential users already.

When this is combined with the recently announced project with game.com, TRON Dogs- Similar to Crypto Kitties, then the potential number of users is thus far impressive for the platform.

A side note surrounding the TRON Dogs project is that 2018 is the Chinese year of the dog; this is rather trivial but may help to drive uptake and is an extra point worth taking into consideration.

Chinese Endorsement

Most recently, the parent company of the Peiwo APP (The first app to host on the TRON platform) was identified as one of Beijing’s high-tech enterprises of 2017.

The National High-tech Enterprise is a policy set by the Chinese government to promote the rapid development of high-tech enterprises. Nonetheless, there are strict standards for inclusion.

“After being included, companies will enjoy a series of concessions in technology research and development, tax relief and personnel policies so as to help enterprises devote more energy and ability to independent research and development and to enhance their core competitiveness.”

Extracted from Tron Foundation’s Medium Page.

Considering China’s negative stance towards cryptocurrencies, this news is somewhat surprising and is a good sign for the long-term potential of the project.

Possible Barriers to the Project’s Success

Overambitious?

There is no denying that this is an incredibly ambitious project; TRON themselves highlight nine different types of risks involved in the project and while a ten year roadmap will be applauded by many, you also have to question the likelihood of them reaching that goal without a few hiccups.

RECENT CONTROVERSIES

Copied Whitepaper?

TRON recently came under fire after analysis of their whitepaper found a large percentage of it to be copied, almost word for word, from the IPFS and Filecoin whitepaper. The diagram below shows just how much was alleged to have been copied and details the lack of references.

Sun responded to this by saying that the original Chinese version of their whitepaper featured a number of references but since the alternative versions (English, Korean etc.) were translated by volunteers, they had missed a number of important details as well as the references.

The TRON Foundation also released a statement saying: “The design of TRON is based on its own system and the realization of codes, some codes of Ethereum were used as reference, we didn’t note related license, from now on we will note the copyright ownership and promise this won’t happen again.”

While we are of course not in a position to say anything with outright confidence, this is something that would worry us.

TRON have since removed all versions of the whitepaper from their website and have promised the release of a new whitepaper some time soon. This is something we certainly look forward to reading.

Justin Sun Sells 6 Billion TRX?

TRON also came under scrutiny recently when a post on Reddit alleged that CEO Sun had sold 6 billion TRX, this was proven not to be the case but did create some fear.

The post highlighted a wallet that they believed to belong to Sun due to the high volume of TRX, as well as the wallet also being linked to a CryptoKitties account called ‘justinpets’.

The wallet in question had sold over 6 billion TRX for ETH over a three week period. Even Litecoin founder Charlie Lee got involved, calling out Sun over this on Twitter.

Sun would respond to the allegations on his personal Twitter account by stating that the wallet in question actually belongs to a private investor and market maker who buys and sells TRX tokens in order to provide liquidity.

He also said that when it comes to any form of registration, he uses his Chinese name of Yuchen, as opposed to Justin. Upon learning the facts, Charlie Lee would apologize and delete the tweets accusing Sun.

While the project has certainly had some flaws, this episode proved to be a poorly researched accusation as opposed to anything untoward on TRON’s behalf. An example of what many in the cryptocurrency space refer to as FUD.

WHERE TO BUY & STORE TRON TOKENS

Where to Buy TRON Tokens?

As far as our opinion goes, the best exchange to purchase TRON tokens from is Binance; it is also available on a number of smaller exchanges but in our opinion Binance will offer the best prices and liquidity.

Where to Store TRON Tokens?

TRON is an Ethereum-based token which means it can be safely stored on any ERC-20 compatible wallets.

Our favorite option is the Ledger Offline Wallet.

Our other favorite option is MyEtherWallet which you can download via the link below:

Download Wallet HERE (MyEtherWallet)

For instructions on how to download and install MyEtherWallet, check out the video below (not produced by us).

Product & Traction

Tron is designed to ultimately make entertainment content both easier to sell and cheaper to consume. In theory, this goal is achieved by putting the content on a blockchain and the creators and consumers in a network of peers, eliminating the middleman. ^[4]

The network has built a set of consensus mechanisms, which can use minimum cost to solve identification and personal credit issues in online transactions. It also uses point-to-point transactions to avoid traditional centralized settlement structure. The network can play the host role between users and developers, to ensure authenticity and compliance of info credit.

As explained in their website, the Protocol offers “scalable, high-availability and high-throughput support that underlies all the decentralized applications in the TRON ecosystem”. The network incentivizes users to build their own decentralized entertainment applications (dApps).

Conclusion

While there is no doubting the potential size of the TRON project, there are a number of red flags that have arisen over time.

We are looking forward to reading the new whitepaper when it is released in the hope that it can alleviate some of the worries people have around the project.

If the project hits all of its targets then it could become one of the largest on the market but, as it stands, there are at the moment just too many questions around the project to consider a serious investment.

On top of this, the project is already priced very highly in the market – number 13 – so the upside potential is relatively small when compared to the considerable associated risk.

Best Ripple Desktop Wallets

June 12, 2019 by TheCryptoToday Leave a Comment

If you are concerned as to where you can keep your digital assets, then, getting yourself some level of knowledge about the best desktop ripple wallets will help you do and decide for the right thing. Being a responsible Ripple investor and holder, it is always important to keep your token safe at all costs. Hence, to find the best and most secured wallet can either be difficult or easy if you follow certain guides when you do it. Ripple wallets that work for desktop come in many forms. However, you just need to adhere to the kind of wallet that suits your need best.

When looking for an ideal desktop ripple wallet, there might be some key points that you should consider. Make sure to decide whether it is the right time for you to store and keep your Ripple tokens now or not. There might be multiple options that you can choose from, but always keep in mind that choosing a digital wallet is your key for you to be able to keep your digital assets secured all the time.

Important Features to Look for a Desktop Ripple Wallet

Basically, there are different ways where you can store your Ripple tokens through a Ripple wallet. These wallets come in a hardware form, an online wallet, a paper wallet, and the last one, the desktop wallet. Having all these forms being mentioned, most of the time, Ripple investors prefer working and storing their tokens with the desktop wallet.

Hence, in selecting the best desktop ripple wallet, there are important things that you have to consider. These factors will keep you in control of your asset and as well as to get avoided the chances of being scammed in the future.

#1 Private Keys – It is one of the necessary factors that you have to look into a desktop ripple wallet. Your private keys give you full control and access to your stored crypto assets. Therefore, as an investor, it is important to always keep your private keys safe and secure. If you will loss these keys, then, basically, you are also losing access to your digital assets. Don’t get tricked by scammers and thefts, and make sure to take hold of your private keys securely.

#2 The User Experience – It is important to take a look into the user experience of your desktop ripple wallet. If you are a beginner, then it would be best to choose a wallet that’s easier to navigate and use at the same time. In most cases, the easier the use of your desktop wallet, the better it is to you to understand its proper uses and functions.

#3 The Development Community – When choosing for a desktop ripple wallet, make sure that it has an always-on-the-go development community. Make sure to always research for the best choice of wallet since this community will help you a lot especially when certain concerns arise with your transaction. make sure to go with a desktop ripple wallet that has an evident team of developers since a good reputation is always important in the digital space.

#4 Back up Ability – To have a good back up for your crypto assets is always important. Without having a back up feature, loosing your access to it also means losing your digital asset. It is too risky for an investor to choose a desktop ripple wallet with no back up at all. Therefore, in selecting your wallet, make sure to take this aspect as one of the most important bases for your selection.

Best Desktop Ripple Wallet of 2019

Ripple is one of the emerging digital currencies in the market today. Being an investor of the said token, you only have one aim, and that is to securely keep your token in the best desktop wallet possible. Below is the list of the best desktop ripple wallets this year that you might consider getting a pick.

#1 Atomic Wallet – This is one of the most favorable and notable desktop wallets that supports the ripple digital currency. It is known to give users access to their Ripple tokens and be able to store it securely in the best way possible. It has been learned that Atomic wallet will not only let investors store their assets, but at the same time, they can also exchange their token through a built-in exchange engine that has been powered by Changelly. All you need to do is to purchase the XRP with a bank card. This wallet is best for the beginners since all its features are being provided through an easy-to-use interface. This simply means that you can have full control with your funds and your private keys are just encrypted directly to your device. This desktop ripple wallet is available for Windows, Mac OS, Ubuntu, and the Debian operating systems. Download it here!

#2 Rippex – It is another desktop wallet and has known to be in an experimental open source form. This wallet is believed to be downloadable directly to your desktop and it supports those operating systems under Windows, OSX, and the Linux. In this case, your private keys are simply kept directly to your computer and is believed to be safe compared to those web wallets. One of the best features of the Rippex is that it has no limit as to with the amount of Ripple token that you can opt to send and receive.

Summary

Desktop ripple wallets are far different from the rest of the wallets in the digital community. There are lots of digital wallets for investors to choose from, however, it is up to the user to do some extra research as to the best wallet that will give them the best satisfaction. Choosing the right kind of desktop ripple wallet is important to keeping your funds secure and safe. May this guide give you some insights about the things that you need to learn and understand about the Ripple token and as well as with the best desktop ripple wallet that you can choose to have a pick for this year.

(23 votes, average: 1.48 out of 5)

Best Monero Hardware Wallets – The Safest Storage for your Digital Currency

May 12, 2019 by TheCryptoToday Leave a Comment

Monero is one of the most popular and special kinds of the digital coin in the crypto community. Since 2012 that Monero was launched and created, it has been known to use the so-called cryptography, a certain way of ensuring transactions are safe since it remains untraceable and private.

Prior to its popularity in the digital market, the Monero was first known as the Bitmonero, a fork of the Bytecoin blockchain. Among the many digital coins in the market, the best thing about Monero is that users can have full control over their own currency and as well as with the respective transactions they create. It has been learned that this digital coin has no pre-set size limit, unlike other coins. This simply means that malicious miners can clog up the system if they wish to.

Meanwhile, Monero is also known for having multiple keys making it a lot confusing to some users. Nevertheless, this coin still remains to be in the top 12 in the cryptocurrency market based on its market capitalization. Based on records, this digital asset remains to be one of the most profitable in the crypto space.

The Safest Monero Hardware Wallets of 2019

Once you got your Monero digital coin, the next thing to come in mind is proper storage for you to safely keep it. You will surely want to move them off from the exchange have it stored safely in your own wallet. When you have plans of keeping this digital asset safe for a long period of time, check out some of the most notable hardware wallets that are best in safe-keeping Monero coins.

#1 Ledger Nano S – This is one of the most popular hardware wallets to get in keeping Monero coins safely. This versatile device almost acts as a simple USB drive. You simply need to get it plugged into any device through a USB port and you can simply make transactions with it in no time. The Ledger Nano S is known to support a wide variety of cryptocurrencies.

Apart from Monero, digital coins like Ripple, Ethereum, Litecoin, Stellar and a lot more work best with this hardware wallet. If you are looking for the best reasons for getting this device, apparently, the Ledger Nano S is known for its tightened security feature. This is the simple reason why this could be the top choice for a Monero coin storage. It has a two-factor authentication, a secured PIN code, and a very accessible recovery speed.

Furthermore, the Ledger Nano S has a built-in OLED screen where you can simply check every transaction detail by tapping its button. Tracking your currency works perfectly fine with this Monero hardware wallet.

#2 Ledger Nano X – This is another hardware wallet that is almost similar to the Nano S. It still retains the USB-type design and it comes with a smaller dimension compared to other hardware wallets. Accordingly, this Nano X was recently launched on January 2019 during the annual Consumer Electronics Show in Las Vegas. Most of the users in the crowd were amazed by this newest hardware wallet in keeping coins like Monero. This comes with the so-called CC EAL5+, which is a certified secure chip that allows the user to store sensitive data. Furthermore, it also has a Bluetooth capability that allows you to make wireless crypto asset management.

With its Bluetooth feature, users will have wider access in terms of managing their digital assets anywhere and anytime. Apart from being a hardware wallet, it is also capable of connecting to a smartphone’s Bluetooth connectivity. This allows users to monitor and control every transaction detail by downloading a love mobile app.

#3 Trezor Wallet – This is another hardware wallet that is also best in keeping Monero coins. Since its launching in the Czech Republic, the Trezor made names for providing the best security to its digital coin users. It has been learned that this hardware wallet will protect your coins from physical and virtual theft. This is just a small device with a built-in OLED screen and will connect via USB port to your personal phone or computer. This hardware wallet is the perfect solution in storing a large number of digital assets in order to keep them from malicious thefts. This allows users to store their private keys offline making no way for hackers to get a record of your privacy code. Using Trezor is pretty much similar to using other hardware wallets, too.

How to Select the Best Monero Hardware Wallet

With the emerging popularity and use of crypto coins in the market today, it is no surprise to find varieties of digital assets being used by investors worldwide. With the many different ways that these coins are used, there are also different types of wallets that users can choose from. Here are some of the important factors to take into consideration in choosing the best Monero hardware wallet.

Security – Being an investor, always look into the safety of your Monero coin. This means that looking into a two-way factor authentication must be your prime concern. In choosing a wallet, having the best security must always come into your priority to ensure that keeping Monero assets will always be secured.
Private Keys – Look for a wallet that provides for a safe private key. Make sure that as a user you will have full access and control over these safe keys.
Supported Coins – It is also important to look for wallet features that support other kinds of coins other than Monero. This is to make sure that you can still make a further transaction with some other digital coins in the crypto space.
Ease of Use – To save your head from trouble, make sure to select a hardware wallet that is user-friendly even for the beginners. This gives you the peace of mind, especially when making a transaction through your assets.

Summary

The use of hardware wallets for cryptocurrencies like Monero minimizes the attack of theft, both in the physical and in the virtual world. With its tight security and private key feature, there is no way for hackers to gain access to your wallet by infecting your computer. Hence, make sure to select the best Monero hardware wallet that suits your needs best!

(21 votes, average: 1.62 out of 5)

Best DAI Wallets of 2019

May 11, 2019 by TheCryptoToday Leave a Comment

The DAI is among the most famous stablecoin that was released in 2017. This digital asset was created by the Maker and is known to be backed by the Collateralized Security Debt that is believed to run without any intervention of any central authority. It has always been the aim of DAI to transform the financial industry into something bigger through enriching businesses as well as individuals in the digital space.

Their aim is to make the market realized the several advantages of using DAI as a stablecoin without having to experience any volatility just like those which are experienced by the non-stable coins like Bitcoin, Ethereum, and a lot more.

Having said that DAI is one of the stablecoin, this digital asset is still different from the rest considering that it is decentralized. This is one critical idea about DAI as it can never be shut down and there is also no trust in a central authority that is being required. This simply means that there is no way for the Maker to still your funds and there would be no human error that will compromise with your DAI assets.

5 Best DAI Wallets and Its Feature

If you are among those DAI holders in the market, looking for the best and safest wallet must be the next thing to consider. It’s time to take a look at the most updated DAI wallet for the year 2019. Check out its distinctive features and compatibility by reading the list below.

Ledger Nano S – This wallet is one of the most popular hardware wallets ever existed and launched in the crypto space. This wallet is known to enable users to make many kinds of transactions aside from just storing a digital asset. In just one simple click, you can already manage your digital assets with the help of one secure PIN and can also be backed up through the help of the paraphrase. All you need to do is to connect it with your system and use it just as how a USB drive is being used. Apart from being a popular wallet, the Ledger Nano S also comes with enhanced security features and safety precautions to ensure that your assets are secured.
Trezor – Just like the Ledger Nano S, the Trezor is yet another wallet that is best for DAI holders. This wallet can store no more than 500 cryptocurrencies in the digital market. Apparently, DAI is among those tokens since it is one of the most popular stablecoins existed in the digital market today. Similarly, the Trezor works just like a USB and has to be connected into your device for it to work. This wallet helps users to store, send, and receive DAI and other crypto coins at the same time. Your assets are believed to be safe since it is protected by a PIN for its security. Trezor is very easy to set up and beginners are likely to use it with many conveniences.
Ethos Universal Wallet – This wallet is not only best for the MKR token but as well as with the DAI. This is known for being a secured multi-token wallet that lets users access their assets safely and easily. All users, both beginners, and experts can surely access this wallet anywhere and without any cost. Accordingly, this is one of the best DAI wallets ever existed this year that can both work for Android and iOS devices.
MyEther Wallet – Having known as the official wallet for the ERC20 tokens, it is good to know that this is also considered as one of the best storages for DAI. It is known for being one of the most secured wallets online that enables users to store, send and receive digital token transactions. Specifically, it is an ERC20 web-based wallet that allows users to create their distinctive wallet online. Apparently, accessing the MyEther wallet requires you to use an internet connection.
Metamask – Apart from being a wallet, this Metamask is better known as an extension to browsers like Chrome, Google Chrome, and Brave browser to name a few. Accordingly, the Metamask is considered to be one of the most favorable wallets for ERC20 tokens, and the DAI as well. All you need to do is to add the extension to your browser and have your transactions run right away!

Facts about DAI as a Stablecoin

The DAI, apart from being known as a stablecoin, is nothing more than a loan against the Ethereum token. This simply means that any investors who have ETH and the ability to access any decentralized application has also the ability to create a DAI.

DAI is just like a fiat currency; however, users need not know how DAI is created since they won’t also need to create their own. Apparently, most users will only buy DAI on any exchange for as long as it holds the value of $1.

How to Select the Best DAI Wallet

Being an investor in the crypto space, one of your main concerns is keeping your digital asset safely. Having all these wallets mentioned in the list, it might as well be hard for investors like you to choose the best choice. Hence, the only thing that you need to consider is the compatibility of the digital wallet to your device and the ease of use as to the transactions you make every day. As you keep these factors in mind, selecting for the best DAI wallet will never be hard. Always make sure to choose the DAI wallet that suits your need best.

Conclusion

DAI has already proven its worth in the market since its inception back in December 2017. As the price remains successfully pegged at $1, the Maker has the huge faith that users of the said token will also increase leading to greater usage of this stablecoin across the market.

(28 votes, average: 1.68 out of 5)

What is MakerDAO?

May 9, 2019 by TheCryptoToday Leave a Comment

Maker is a DAO (Decentralized Autonomous Organization) and smart contract platform on the Ethereum blockchain with a stablecoin system referred to as “Dai”. The Dai crypto coin is an ERC-20 stablecoin that is pegged to the US Dollar so that one Dai is worth one US Dollar, and most noteworthy, its value doesn’t change. Unlike other stablecoins, DAI is a decentralized asset that exists within the Ethereum blockchain via smart contracts.

What makes it Valuable?

A decentralized stablecoin in a volatile market.
Holders of the MKR token are able to vote on system actions

How the Maker Platform Works

Maker’s objective is to capacitate cryptocurrency holders to leverage their assets and garner increased exposure to the market. One is in a position to easily deposit their ETH tokens to a CDP and use the DAI issued to them to, for instance, purchase more ETH. Nonetheless, there are questions about DAI’s stability without the physical dollar backing, how the currency would react to abnormal movements in cryptocurrency trends, and the Maker coin’s greater role in the ecosystem.

Even without physical backing, DAI isn’t “free money”. When someone sends their ETH to a CDP, it is locked and as such no longer theirs up till they deposit the same amount of DAI that it originally issued. The amount of DAI that one is able to generate with ETH is constantly changing, which combats volatility in ETH itself. For example, one day you could deposit 1ETH and receive 66 DAI, while the same amount of ETH might create 75 DAI a day later. You will only get this ETH back the moment you deposit 66 or 75 DAI to the CDP, respectively. This is termed as the collateralization ratio, and it is one of the linchpins of the CDP smart contract. It is as well voted on periodically by holders of the MKR tokens, which makes a larger part of their role on the platform.

In addition, Dai’s price isn’t always $1.00 USD exactly. On a number of occasions it drops to as low as $0.98 USD and in others it rises to as high as $1.02 USD. It seemingly isn’t a wide spectrum, but even a few pips off the value of the Dollar can create havoc. To curb the inevitable reality of DAI being worth more than $1.00 USD, Maker has come up with an algorithm that calibrates fees and the collateralization ratio (independent of MKR holders) that make it more lucrative to generate DAI with ETH. Nevertheless, increasing ETH prices only further collateralizes DAI but doesn’t result to real problems other than the need to adjust the collateralization ratio.

An Enchanting Technology

CDP:

A CDP (Collateralized Debt Position) is a smart contract that is distinctive to the Maker platform. The smart contract enables users on the platform to exchange ERC-20 tokens for DAI. Users who are holders of ERC-20 tokens are regarded as collateral assets that are locked into a collateral debt smart contract with the accordance that the collateral assets are bound to be unlocked and given back by paying back an analogous amount of DAI. To put it simply, ERC-20 tokens are exchanged for the DAI tokens, incurring a debt in a smart contract that is to be compulsorily paid back in an equivalent value of DAI tokens to recoup the original ERC-20 tokens.

Mechanisms Employed to Stabilize the Coin:

The Maker platform implements three fundamental approaches in a bid to make the coin stable, as discussed below:

Target Price:

The first approach, also referred to as the ‘target price’, is utilized to compute how much any particular ERC-20 tokens are in comparison to the US Dollar.

Target Rate Feedback Mechanism:

The second mechanism, termed as the ‘TRFM’ (Target Rate Feedback Mechanism), is implemented in the case of severe market stability and not only breaks the USD peg to diminish the volatility of DAI, but changes the target price over time as well.

Sensitivity Parameter:

The third mechanism, known as the ‘Sensitivity Parameter’, establishes the rate at which the price of DAI changes in relation to the USD movement. It is additionally utilized in the disengagement of the Target Rate Feedback Mechanism in the case that a market collapses.

Global Settlement:

Global Settlement comes in as the last resort process that is activatable in the event of momentous emergencies to unwind the platform and give back holders of the DAI tokens the assets they are entitled to with utter decentralization.

The MKR Token:

MKR capacitates its holders to vote on actions entailing risk management, for instance, the incorporation of new CDP types, sensitivity modifications, risk parameters, and to activate a global settlement. This kind of decentralized governance is realized via Active Proposal smart contracts which are vested by the votes of MKR token holders.

The Lead Team behind the MakerDAO Project

Rune Christensen:

Rune Christensen is the organization’s Founder and Chief Executive Officer. He is based in Denmark and boasts a solid background in Biochemistry and International Business.

Andy Milenius:

Andy Milenius is the organization’s Chief Technology Officer (CTO). He is as well a Software Engineer working at DappHub, a blockchain tools development suite.

Shannon Wu:

Shannon Wu is MakerDAO’s Public Relations Consultant. Other than this, she is as well the Co-Founder of Bloom, the decentralized credit scoring project, as well as the Founder of Mr. Progress, a digital innovations shop for startups.

Notable partnerships:

Swarm:

Swarm is a blockchain for private equity and has joined forces with Maker to enable its investors to lock in cryptocurrency prices.

OmiseGO:

OmiseGO, a blockchain project that is developing a decentralized cryptocurrency exchange platform, has formed an alliance with Maker to provide its users with a stablecoin option.

L4:

L4 is a venture project developing a decentralized web 3.0 platform that gets rid of third party interference and incentivizes users to contribute. It has partnered with Maker to help start-ups using the Dai stablecoin system with business development, financing, and strategic introductions.

Switchain:

Switchain is a program built to provide users with the best crypto prices. It has joined forces with Maker to hedge against volatility with the Dai stablecoin.

Product & Traction

In a majority of countries throughout the globe, the conventional central bank is accountable for raising or lessening interest rates of the national currency. Owing to the fact that these central banking systems are centralized, they are in a position to offer a variety of rates of loans to various individuals or business organizations. What’s more, the central bank of an abundance of countries covers the bad debt of lenders, which over time, is once again covered by loftier loan rates.

The Maker platform provides a number of improvements to the conventional central bank. In the Maker system, money does not come out of thin air, but is rather contrived by borrowing against extant assets. These assets in the Maker platform, in contrast to a traditional central bank, are a diversified pool of assets which is a more worthwhile guarantee. It is the hope of Maker that Dai be pegged to the Consumer Price Index (CPI) or other metric in the event the Federal Reserve (FR) ever loses credibility.

What’s more, the Maker platform enables individuals as well as businesses to receive loans straightforwardly from the platform, instead of a third-party involvement that receives a cut in the conventional banking system.

Economics

Users are in a position to generate Dai on the Maker platform via smart contracts that lock their collateral until they pay back the loan in entirety. These smart contracts are referred to as CDPs (Collateralized Debt Positions), in which case the interest rate is the Stability Fee.

Here is a step-by-step explanation regarding what happens in the event a user enters into a smart contract on the Maker platform, assuming a collateralization ratio of 150 percent and a 1 percent Stability Fee:

User’s pledged collateral is accepted.
Parameters are checked for lending against the specific collateral.
Dai is created against the collateral.
In the event the loan is repaid in full with interest, the collateral is released. Part of the interest payment is given to holders of MKR, the Maker utility token.
In the event the loan falls below a given amount, the collateral is liquidated up to the loan’s value, and the Dai is destroyed.
On the off the chance there isn’t sufficient collateral to cover the value of the loan in Dai, holders of the MKR token will print MKR and sell it for Dai up till it is able to indemnify the loan.

How DAI Maintains Price Stability

DAI is a stablecoin, the implication being, it will eternally be correspondent to $1 USD. Maker has the capacity to come up with an ecosystem that capacitates users on the platform to take volatile assets and borrow stable assets by engendering a variegated collateral portfolio to prop up each and every stable asset. Void of the diversified portfolio, Maker would have quite a number of outstanding loans and fall into momentous financial woe in the case of a black swan event.

Another mechanism implemented to retain the stability of Dai regards the Target Rate Feedback Mechanism, which an autonomous mechanism that adjusts the Dai market rate to maintain it closer to the target price stable to the US dollar. It kicks in in the case of a severe market instability event, incentivizing users to generate more Dai on the off the chance it trades at more than a dollar. On the assumption that the price of Dai drops, making the system susceptible to the risk of collapse, all Collateralized Debt Positions (CDPs) are liquidated, with the equivalent Ether being auctioned off until adequate DAI is available to reparate the CDP.

How to Buy DAI

OasisDEX is so far the primary option in so far as purchasing DAI is concerned. It’s as well the cryptocurrency exchange with the highest trading volume at more than $6 million USD.

DAI is additionally available for purchase or trade on the following cryptocurrency exchanges:

HitBTC (Trade DAI with BTC on HitBTC)
Ethfinex (Trade DAI with USD on Ethfinex)
HitBTC (Trade DAI with ETH on HitBTC)
RadarRelay (Trade DAI with WETH on RadarRelay)
Kyber Network (Trade DAI with ETH on Kyber Network)

How to Store DAI

DAI can be stored in any wallet that supports ERC-20 tokens such as Coinomi, MetaMask and MyEtherWallet.

For optimal security, be that as it may be, users are strongly advised to hold their DAI on hardware wallets such as Ledger Nano S and Trezor.

MakerDAI Market & Future

Dai has the potential for a variety of use cases across various industries, being inclusive of, among others, prediction markets or gambling applications, leveraged trading for hedging, derivatives and financial markets, just to mention but a few. What’s more, governments and charities are in a position to witness significantly increased transparency via Dai’s accounting system.

Maker is the first DAO ever; it even predates the Ethereum project.
The Dai token has one of the most sort-after use-cases in the entire crypto market, as it is an extremely useful tool for partnering projects to incorporate and provide added value to their clients.
As a decentralized stablecoin, it is a cornerstone in a decentralized economy.
MKR tokens can be staked for decentralized governance.

Maker Review: The Not So Good

Although it has the global settlement failsafe system in case of an emergency, there is no way of knowing if it will actually work until the emergency has happened.
It is still a developing project. Not that this is a bad thing but just as a reminder, this technology is cutting-edge and breaking a previously unexplored territory that may have unexpected consequences.

Conclusion

Debatably, MakerDAO is a phenomenal innovation that is a lucrative addition to the Ethereum network as well as any projects that require a decentralized stablecoin. Stablecoins are among the most popular utilities in the most volatile market in the world, and Maker is a platform that is well underway in providing one.

Top 6 Best AION Wallets

May 9, 2019 by TheCryptoToday Leave a Comment

In cryptocurrency, good software communication can bring harmonious transactions among users and platforms. Customers want fast, smooth, secure, and efficient performance; however, there are certain occasions that cannot be avoided.

Certain flaws in the blockchain system can cause additional delays and cost to users and also negative feedback towards the crypto platforms. Cryptocurrencies are doing their best to resolve these problems, and they are almost perfecting it; however, single-tier and first-generation cryptocurrencies are still having trouble with it.

Multi-tier cryptocurrencies, like AION, saw these system problems that prompted them to take actions and make changes for improvement.

What is AION?

To have a decentralized and cashless transaction is the purpose of creating a cryptocurrency. However, first-generation cryptocurrencies like the popular Bitcoin have inefficiencies in privacy, scalability, and interoperability that need some fixing.

Canadian multi-tier and the first third-generation cryptocurrency, AION was founded by Matthew Spoke who is also the CEO and focuses on solving the problems encountered by the different crypto platforms especially by the first-generation blockchains. AION network gives an eye in solving the interoperability problem since it is the main issue.

AION’s another strong point is its ability to connect both the private and public networks to communicate harmoniously.

What are the Benefits of AION?

People who engage in the blockchain industry can enjoy numerous benefits and advantages of every platform. Each blockchain wants to provide the best service to their users. AION, on the other hand, has been doing vast tests and research to provide the best service it can give to its customers.

AION TECHNOLOGY

On the technical side, being a third-generation cryptocurrency is one of AION’s main strength that allows the network to connect different blockchains aside from its own functions. Thanks to its blockchain – AION-1. Its 2 main elements are:

In cryptocurrency, consensus algorithm is the achievement of computers to communicate properly with each other. It connects two or more blockchains. The consensus is essential among blockchains for better performance. There are several types of consensus, and somewhat they are related to each other. These are Proof of Work (PoW) consensus algorithm, Proof of Stake (PoS) algorithm, Proof of Burn (PoB) algorithm, the Byzantine Fault Tolerance (BFT) algorithm.
AION Virtual Machine (AVM). The purpose of AVM is to run Java in bytecode in order for developers to establish applications in Java that are blockchain-based. It enables the blockchain applications to perform with stability and synchronism.

The multi-tier network of AION works as an agreement to let different systems communicate with each other. The following components of the network allow interchain communication.

Connecting Networks. These are system rules wherein both public and private blockchains will be able to exchange communication through AION’s network.
Interchain Transaction. Since there are countless blockchain platforms, communication among them can be tricky. In an interchain transaction, these platforms can communicate with each other safely and conveniently.
The main task of bridges is to monitor and validate the messages between the connecting networks and the participating networks.
Participating Networks. These are any networks that are successful in passing the requirements. They are not only confined to the blockchain platform, but they can also be cryplets, oracles, database, and more. If the met the set conditions, they will then be connected by the bridges to the connecting networks.

Best AION Wallets

Wallets are used to store coins and tokens from different platforms. Although there are many wallets that support various cryptocurrency, it is still advisable to do further probing for better transactions.

AION Wallet Ledger (hardware wallet)

Nano S ledger was founded in 2014 and is considered as one of the wallets that have strong security features yet user-friendly. It can make payment transactions fast and more. Since it is a hardware wallet, once it is not connected to the computer, getting hacked is impossible. Users are still advised to take necessary precautions as they might use an infected computer that can put their security at risk.

AION Wallet (desktop wallet)

The coins are stored in your personal computer or laptop if you’re using a desktop wallet. AION desktop wallet is finally made available in Windows, Linux, and MacOs platforms after the development team and other partners worked extensively for the progress. Users must take not that this wallet only supports the AION coin. If a customer has the AION ERC-20 tokens, and he wants to save to his AION wallet, he needs to swap his tokens via the AION token swap first.

AION blockchain acknowledges the AION coin as its native asset that used for analytical network functionality and crypto-economic operation. Another good thing for this wallet is the availability to see the transaction history.

AION Trust Wallet (Mobile Wallet)

Many users are impressed with how user-friendly AION trust wallet is. It is considered in the market as one of the best mobile wallets. It does not access any of the personal information, and there’s also a simple recovery feature because it has a backup service.

This wallet supports cryptocurrencies like Ethereum, Ethereum Classic, ERC20, and ERC223. It can be downloaded for free in the Google Play and Apple Apps Store.

MyEtherWallet (MEW)

MyEtherWallet is another user-friendly that is good for starters which makes it one of the best wallets. Released in 2015, it supports the Ethereum, Ethereum Classic, EOS, and ERC20 tokens.

AION users can easily use this wallet because MEW is considered one of the most secured wallets for ERC20 tokens. On a large-scale, the security still has more to do with the users. They should use the tool properly and adhere to the regulations.

Trezor (Hardware Wallet)

Trezor wallet was launched in 2014, and its security is top-notch. It can even be used in an infected PC or laptop as it has the ability to protect your coins and data from any theft. This key-sized wallet supports AION tokens, and it has a high rating as a hardware wallet. It is also a beginner friendly, and if it is lost, assets can be recovered.

Magnum Light Web Wallet

This light, anonymous web wallet allows its user to have total control concerning their private keys and does not require creating an account. Magnum wallet also gives its users the opportunity to earn passive income.

The cryptocurrency market will keep on looking for ways to improve every flaw they see to provide the best service they can to satisfy their customers. Users need to check if the wallet supports their platforms or coins to avoid further problems. Be mindful too for any malicious activity that can compromise your coins and security.

(22 votes, average: 1.73 out of 5)

New Smart Contract Launched, EOS Holders to Transfer Tokens Without EOS Account

May 5, 2019 by TheCryptoToday Leave a Comment

The transfer of tokens of EOS holders without the use of EOS account is finally available! This great news was officially announced by the Everipedia IQ Team and the Decentral Bank a few days back. In a recent report obtained by the Medium, it has been learned that the EOSIO UTXO or also called as the Pay2Key contract module will now be available for use.

This finally allows EOS holders to transfer tokens even without the use of EOS public keys. This pay2key contract is reportedly similar to that of the Bitcoin transaction system. According to reports, in order to successfully move tokens in a UTXO based contract before, an owner needs to have his or her own private key respectively.

Furthermore, with the current EOSIO blockchain, a transaction fee will be paid to move the token successfully. But having known about the launching of the new contract module, every transaction will be a lot better and easier. With this launching, they have anticipated that with the growing usage of the UTXO tokens into the EOS mainnet, UTXO will become a lot of profitable business in the future to come.

What is an EOS?

The EOSIO, or just simply known as the EOS, is a software which features a definite blockchain architecture. A report from the Medium revealed that this software was created and developed in order to successfully scale DApp or the decentralized application development and performance.

Accordingly, the EOS works with a certain operative construction for it to increase its scalability. This software provides the holders with its personal and authenticated accounts, a safe user database, and several options for making communications and application planning through various central-processing unit clusters.

The EOS software technology is highly-offering the features like high throughput, or the ability to process a huge number of transactions per second, high and increased scalability, a cost-efficient feature since it has to charges, fast, smooth and easy DApp deployment process, and a role-based permission management.

Developing an EOS Smart Contract

Being new into the EOS blockchain, most probably, learning about developing an EOS smart contract is a must. The Medium reportedly explained brief and quick steps to establish a local blockchain to work successfully with the EOS smart contract.

An EOS holder must start with creating a wallet in a private blockchain to further load the eosio.bios contract and create a personal account. Whenever the first step is performed, it is already possible to deploy the EOS smart contract successfully.

During wallet creation, private key storage is needed to proceed with the blockchain action authorization successfully. Apparently, these keys are kept safe and encrypted with a specific encrypted password and are stored safely by a password manager.

In order to enhanced safety, EOS wallet holders are advised to lock the wallet whenever not in used. When doing further smart contract creation and development, any holder can just simply unlock their wallet. Hence, with this newest contract module, transferring of tokens will be a lot better for the EOS holders.

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