Tag: crypto 2018

TronBet App Is Exploding on Tron’s Mainnet

Spencer Kellogg | @Spencer_Kellogg

On June 1st, 2018, Tron cryptocurrency launched their mainnet platform.  Capitalizing on a meteoric rise in interest and technological advancements surrounding the Chinese-based crypto, founder Justin Sun and his team of developers have created a decentralized infrastructure that is growing in size and scope every day. Enter: TronBet.

TronBet Dice
Tronbet’s “Dice”

TronBet is a gambling DApp (decentralized application) that launched in early Q3 of 2018. In its short lifespan, it has seen incredible gains in users and total bets. On its release day, the site netted over 10,000 plays and had seen over 1 billion TRX wagered within the first two weeks of service. Users connect their Tron wallet to the platform and wager bets on two simple games that payout TRX immediately on winning combinations. Interested gamers can try the casino-like site out here entirely at their own risk.

Originally a simple over/under dice game, TronBet has recently launched their second game, Moon, based off the widely successful Bustabit crash game. In Moon, players wager a set amount of TRX and anticipate when an increasing curve will crash. Players must collect on their wagered amount before the line crashes or they lose their entire bet. The game is addicting, thrilling, maddening and can lead to incredible gains. The simulation can payout players up to 5000x their wagered bet, meaning gamers could hypothetically turn a few dollars into thousands in the course of one single game.

TronBet's Moon
TronBet’s “Moon”

In their simple and eloquent whitepaper, TronBet developers lay out their vision of an online gambling site built on the cheap and flexible ecosystem that Tron has built. They point to a list of other e-gaming sites utilizing Bitcoin and Ethereum that have seen successful lifespans, including SatoshiDice, which has recorded over $500 million in bets since 2016. Another example, EOSbet, rakes in an average of $10 million a day and the market for growth seems primed as United States lawmakers lose their regulatory control over e-gaming.

Although Tron founder Justin Sun has promoted TronBet, the team behind the gaming platform are not affiliated with the Tron development group itself. TronBet developers chose to use the Tron platform due to its impressive scalability and cheap transaction costs. Compared to the Ethereum blockchain, which can only process 25 TPS (transactions per second), Tron boasts almost 100x that speed and recently clocked in at over 2000 TPS. What this means for users is that TronBet runs on a platform that is incredibly quick, cheap and efficient. This ultimately provides a greater gaming experience.

According to Tronscan.org, the number of wallets and transactions on the Tron network has been exploding over the past few months. A decentralized exchange for Tron-based tokens and currencies has also launched and already features more than 10 TRX trading pairs. All of this bodes well for TronBet as the success of Tron’s mainnet should funnel new users and interest into the projects and applications being released through the ecosystem.

In late October, Justin Sun tweeted out his support for Tronbet, which had then surpassed its first 1 Billion TRX won inside the system. Today, barely a month later, Tronbet is showing over 7.7 billion Tron won and over 15 million bets placed. This unprecedented growth is due, in part, to an interesting in-game currency called Ante which players can mine with every spin.

Users can think of Ante like receiving a small bit of the casino’s own coin that can be stored in the casino’s vault and used to collect a payout of dividends from the total amount of losses within the system every day. In essence, mining and staking Ante allows users to ‘be the house’. Users will trade Ante on Tron’s decentralized exchange in the coming months. This presents an innovative way for early adopters and believers in TronBet to benefit from their support.

TronBet roadmap
TronBet roadmap

In the cryptocurrency industry, gaming has proven to be one of the strongest sources of actual adoption. CryptoKitties, TronDogs, and Etheroll have all created major buzz and concrete interest in using the blockchain as an engine for gaming and transactions. Developers at TronBet have promised a third unreleased game before New Year’s that will be PVP (player vs player), which should increase interest in the platform significantly.


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x42: The Cryptocurrency Gem You Don’t Want To Miss

By Spencer Kellogg | @Spencer_Kellogg

Open. Feeless. Infinite. Those are the three words that greet users of the x42 Protocol, a new cryptocurrency that launched in the late summer months of 2018. In the world of cryptocurrency, manufactured hype and speculation often cloud the true viability of new projects in the nascent marketplace. x42, however, appears to have all the trappings of a strong, working product for innovation and finance.

x42 is a decentralized cryptocurrency that promises zero fees and infinite scalability. The coin can be transferred privately in an instant and the platform itself acts as a creative authoring hub for launching an assortment of applications ranging from indie game developers to large-scale business models. Maintained by the blockchain, x42 provides a flexible entry for entrepreneurs and amateur content producers alike to create, maintain and execute smart contracts and customizable side blockchains.

Screen Shot 2018-11-13 at 10.00.13 PM

A technology based on the Stratis cryptocurrency, x42 smart contracts are written in the common language C# and provide builders with a framework to launch their own blockchain applications and projects. Utilizing the Breeze Wallet, x42 transactions are private and untraceable ensuring anonymity for core community users. The project is growing in interest every day and their Discord channel boasts over one thousand users already.

At this moment, the x42 team is focusing on releasing tiered nodes and an entry-level master node is available by purchasing and holding 1,000 coins in the x42 core wallet. x42 protocol employs Proof of Stake (POS) and rewards users who stake coins in the wallet with a payout every 1-3 days. x42 coins can be purchased at the Start-Ex cryptocurrency exchange.

Unlike many cryptocurrencies that utilized ICO’s during the crypto gold rush of 2017, the x42 team used a traditional launch that included a pre-mine of 25% of their full coin supply (42 million coins). The rest of the coin supply will be printed by the year 2030. This incentivizes users to hold their coins in a wallet and receive staking benefits. Block rewards are 20 coins per block until the block number 550,000 is reached (likely October of 2019) at which time the reward will reduce to 5 coins per block. For more information on coin supply and market cap, check out CoinGecko’s page for x42.

The use cases for x42 are impressive in their diversity. Developers have suggested that the platform can be used to create casual gaming infrastructures like Ethereum’s wildly popular CryptoKitties or to build more sophisticated tech like Maps or Virtual Reality applications. x42 can also be used to uphold contracts via a modeled reputation system or to even remotely control small and large-scale equipment for businesses.

x42’s combination of feeless, private transactions and a smart contract platform that can create and execute decentralized applications make it an interesting project to purchase and hold for the future. The team is active on several social media platforms and they have, so far, achieved every stated goal in a timely and professional manner. With less than 600 followers on Twitter, this is still very much the early stages for the x42 project and a good opportunity for speculators and tech-interested investors alike to join a budding project in its infancy.


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New Survey Finds Surprising Crypto Demographics

By James Sweet III | United States

Cryptocurrency has taken the world by storm, threatening the fiat currencies of major nations. The governments of these nations are very hesitant to embrace the blockchain, but their people are not. According to a survey by YouGov, 44% of Millenials believe that crypto will become more accepted in the future. This makes them the most optimistic generation of the cryptocurrency market.

Of these Millenials, 48% would be interested in switching their primary currency over to Bitcoin or another crypto. 50% would not be interested. Overall, 36% of the Americans surveyed said they would be interested in making the switch.

You wouldn’t need a survey to know that Bitcoin is the most well-known cryptocurrency among the American population. For those that like to hear numbers, you’d be happy to know that 71% of those surveyed have heard of Bitcoin before, with the second most well-known cryptocurrency being Ethereum, with only 13% of those surveyed hearing of it before.

Men may dominate the cryptocurrency community. 74% of men saying they have heard of Bitcoin while only 68% of women say they have. 27% of women said they have not heard of any cryptocurrency before, which is a significantly more amount than the 16% of men unfamiliar with cryptocurrency.

Race might play into the stereotypes of blockchain technology. 32% of Hispanics believe that cryptocurrencies are used for legal purchases more than illegal purchases. Only 12% of Caucasian’s interviewed said the same thing. African-Americans are in the middle, with 22% saying that cryptocurrencies are used for legal reasons more than illegal reasons. Overall, 17% believe that crypto technology is used more for legal transactions, while 25% believe that it is more used for illegal transactions.

Hispanics, Millenials, and men seem to be the most likely groups to embrace cryptocurrencies than the other groups in their category. Will the future of the crypto market be young minorities in a male-dominated society? Or can these numbers change with more women embracing the revolutionary technology?


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Cryptocurrency Market Shows Life, Adds $40 Billion in 2 Days

By Ryan Lau | @agorisms

Over the past several months, the cryptocurrency market has slowed. Its peak market cap of $830 billion has fallen dramatically, losing over two thirds of its value.

However, over the past several days, it is beginning to show life again.

On July 2, Bitcoin finally saw growth after it reached a 12 month low in value. As of June 29, the cryptocurrency had fallen as low as just over $5800 USD. Yet, the value, as of July 3, has soared back to $6658 USD.

This shows nearly a 15% increase in Bitcoin in just four days, which averages to slightly under 4% a day.

Of course, since the cryptocurrency’s fall from a January high of nearly $20000 USD, it has jumped up by these percentages a number of times. Despite this, some investors believe that this rally is longer term.

Sustainable Cryptocurrency Market Gains

As Bitcoin rose, the cryptocurrency market as a whole also saw considerable gains in volume. In the past 48 hours, it has added $40 billion dollars in total volume. As part of this, Bitcoin’s volume rose to $4.6 billion.

Other coins, such as Bitcoin Cash, Cardano, and Ripple, have also risen in value and volume over the same span. Ethereum also showed strong recovery, bouncing from $400 to $467 USD.

Because of the increase in both volume and value, many expect this growth to continue. Some market estimates place a short-term value of Bitcoin at slightly over $7000 USD. If this occurs, it will represent a 21% payout since the cryptocurrency reached its low.

Smaller cryptocurrencies have yet to see the same rebound and uptick in volume. Yet, the market trend suggests that they may soon see similar looking gains, as demand for crypto increases.

The Cryptocurrency Market in U.S. Cities

Clearly, there has been a rapid increase of cryptocurrency market recognition since just one year ago. As this continues, demand not only rises for coin ownership, but for work opportunity. in fact, first quarter 2018 blockchain jobs on the freelance site upwork.com rose a staggering 6000%.

While some, like those on upwork.com, seek employment in blockchain, many others are finding another way to join the market.

Throughout U.S. cities, Bitcoin ATMs are beginning to appear. As of mid-June, over 2,000 of the machines existed in the United States, with almost 100 in the state of Michigan.

For a fee of 7 to 8 percent, consumers may purchase the cryptocurrency in order to hold, invest, or trade.

Generally, the machines exist in low income areas. Of course, many families with lower incomes do not have bank accounts. As an alternative, they may use these ATMs as a cheap alternative means of storing money.

Some even view the machines as an alternative to lottery tickets. With high levels of risk and reward, both are capable of bringing massive success for a small price.

Unlike a lottery, however, the cryptocurrency market shows trends that users can monitor for maximum gain. Detroit gas station owner Andy Attisha says that users of his Bitcoin ATM are doing exactly that.

“A lot of people do day trading on it,” Attisha remarked about his ATM. “I see people coming in here every day messing with the machine.”


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France Is Severely Cutting Taxes On Bitcoin

By Nick Hamilton | United States

Earlier this year, France and Germany came to a consensus that they needed to tax and regulate Bitcoin.

However, on April 26th, France turned over a new leaf. The nation cut taxes by more than half on the crypto-currency, from 45% to 19%, excluding other social taxes.

With this social contribution tax, France will tax Bitcoin at 34.5%, which is still almost a 25% tax cut.

This comes due to a change in the classification of cryptocurrency. France is now classifying Bitcoin as a capital gain, meaning that it get’s the flat tax of 19%, per French law.

At the G20 Summit in Buenos Aires last March, Germany and France both advocated heavily for regulation of the currency. The French Financial Minister, Bruno Le Maire, sent out a series of tweets on March 19th about regulating Bitcoin with other EU countries, which you can read here. However, clearly, Mr Le Maire has had a change of heart, and it definitely picked up a huge win in France yesterday.

Since the ruling yesterday, Bitcoin saw a jump to over $9k, and is maintaining that early this morning pretty nicely. The currency has been on an upwards trend lately. Thus, this tax cut could very well motivate more French to buy it, as France is one of the more economically stable states of the EU, with many citizens looking to invest in crypto-currency.

However, this is not the only means of relaxed taxation we’ve seen from the EU. Germany announced on March 1st, 2018 that they support crypto-currencies as a form of payment. This also means that the government will not tax miners that receive block rewards, due to their services being voluntary. So, even though both France and Germany have called for heavy regulation, they’ve been very lenient on taxation.

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