Tag: Blockchain Technology

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Crypto

TRON (TRX): Tron Mainnet Blockchain Technology Operates At Speeds By 100 Times Higher Than Ethereum’s

Tron Labs, one of the entities behind TRON (TRX), claims its blockchain technology will be incredibly faster than Ethereum’s one, as it will be using a technology which will revolutionize the blockchain technology developing. In the opinion of Tron Labs, TRX’s mainnet network, which will be launched on May 31st, has now achieved test speeds which are “hundreds of times” higher than Ethereum’s blockchain speeds.

Expectedly, TRON (TRX) price will get a boost once the mainnet will be up and running.

Tron mainnet will enter a test stage right after its launch but is promising a next-gen infrastructure and lightning speeds

In a recent blog post from Medium, Tron argues that its platform will make it possible for the blockchain industry to break its reliance on Ethereum.

Because Tron is Java-based and provides a developer-friendly environment, the industry will be able to break with Ethereum and its low-efficiency network prone to congestion, high rates, and a strong learning curve. We will open the doors to a new phase of cryptocurrency focused on scaling and commercialization, providing the next-generation infrastructure and express lanes needed for the global development of dApp.

Tron Labs

Tron is saying that once it has released its mainnet, it will be in a test stage from June 1st to June 24th. Thereafter, Tron will be conducting its ” Super Representative Election “, scheduled for June 26th, to elect the agencies and persons that will be empowering the core of the Tron Net.

TRON (TRX) price – How is TRX doing as we’re getting closer to the mainnet launch?

At the moment of this article, TRON (TRX) is trading at $0.080 after losing about 1.88% in the last 24 hours. Yesterday, TRX closed at $0.081. In fact, TRX is in continuous decline since the last day of April when TRON (TRX) closed at $0.0937, which was, actually, the highest value TRX has ever achieved against the USD.

It is expected that, as we move closer to the launch of the Tron mainnet, TRON (TRX) price to go up.

Categories
Crypto Tech

Sirin Labs Finney – The First Smartphone Based On Blockchain Technology Will Be Released Soon

A few weeks ago it has been announced the first smartphone based on blockchain technology, the very basis for the cryptocurrencies market. This means that this could the safest mobile phone on the market. Thanks to this, we will be able to use it as a cryptocurrency wallet.

The phone is the creation of the Sirin Labs and now we have the complete technical specifications for the first smartphone based on blockchain technology.

“Sirin Labs Finney” is the name of the handset which will be one of the most secure cryptocurrency wallets in the world, that of course, besides being a smartphone.

According to Sirin Labs, which has released the phone’s specs, the new smartphone based on blockchain technology will boast a 6-inch display with an 18:9 aspect ratio, although the resolution is unknown.

The first smartphone based on blockchain technology has some really high-end under the hood components

The phone’s processor will be the most powerful and fastest of the moment, Snapdragon 845, which for example also equips the Samsung Galaxy S9 and S9 Plus in its North American version.

The CPU will be backed up by 6GB of RAM and 128GB of internal storage expandable by microSD, of course.

The main camera will boast a single 12MP sensor with f/1.8 aperture, while the selfies camera will have 8MP and will come with an aperture of f/2.2.

Besides, the phone will come with the most secure fingerprint sensor ever, will run Android 8.1 Oreo, and will be water and dust resistant.

It will undoubtedly be the most secure mobile phone on the market, as it is designed to be a cryptocurrency wallet above all to keep your crypto coins safe. Most importantly, it will save us from having to pay for using third parties in cryptocurrency transactions.

It is expected that Sirin Labs Finney, the first smartphone based on blockchain technology, is expected to be sold at around $1,000.

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Crypto Finance

Australian Government Allocated About $500K USD To Explore Ways Of Applying The Blockchain Technology

The Australian Government published the budget document for the period 2018-2019, which states that it would allocate some 700,000 Australian dollars (equivalent to about $521,000 USD) to the Digital Transformation Agency to explore ways of applying blockchain technology in government services.

The budget plan document, which reports on the allocation of financial resources for the study of the blockchain, was released on Tuesday on an official website of the Australian government. The plan was proposed by Deputy Scott Morrison, Treasurer of the Commonwealth of Australia and Senator Mathias Cormann, Minister of Finance of the Commonwealth of Australia.

In the “Digital Future of Australia – Blockchain” section of the document, it is specified that the money will be allocated to the Digital Transformation Agency, which is responsible for making it easier for people to deal with the government and helping the government to transform services to make them simpler, clearer and faster.

The Government will provide $0.7 million in 2018-19 to the Digital Transformation Agency to investigate areas where blockchain technology could offer the greatest value for government services.

Australian Government

In the document, it was also indicated that these financial resources will be obtained from the existing methods and activities of the agency.

The Australian government is not at its first attempt to implement blockchain technology

Essentially, the purpose of the budget allocation is to drive research and exploration into blockchain technology and the ways in which it can be used to optimize government’s services, simplifying them and making them faster.

The country has also been characterized by a relatively open stance to the use of such technology and even to the adoption of cryptocurrencies. Despite this money allocation, other sectors of the Australian government have previously ventured into the use of blockchain in some areas.

Such is the case of the Australian House of Representatives and Tax Office (ATO) executives who at the end of last year were discussing the potential of technology in tax collection. Moreover, in November 2017, the Australian government announced funding of $6 million USD for an energy and water distribution project, also powered by blockchain technology.

Categories
Crypto Markets

Cryptocurrencies Market Might Have A Free Future In Chile, As The Minister Of Economy Expressed Desire To Work With Blockchain Technology

Chile’s Minister of Economy, Development, And Tourism, Jose Ramon Valente, declared that it is necessary to give the cryptocurrencies market a chance because, in his opinion, the country cannot remain outside blockchain technology.

During the presentation of the new executive vice-president of the Production Development Corporation, Valente stated that cryptocurrencies could be considered as “the economy of the future”. For this reason, he says, the Chilean government does not want to be left out of this innovation.

With this idea in his mind, the minister urged the country’s economic actors not to “artificially hinder” the crypto ecosystem, since its success or failure must be related solely to its functioning.

What we are interested in is basically giving them the opportunity, because they are an important innovation that is happening all over the world […] if we give them a chance and they fail, well, they will fail as many good ideas that are left in the way fail.

Jose Ramon Valente, Minister of Economy, Development, And Tourism of Chile

Cryptocurrencies market in Chile will not face regulations, as the country is still accepting original blockchain technology

However, Valente assured that the Ministry “is not for or against cryptocurrencies market”. The concern is that Chile may be closing in on the technological advances occurring in the rest of the world, namely, the blockchain technology.

These statements come after weeks of tension over the legal dispute between Chilean cryptocurrency exchange houses and banks, as these entities refuse to provide commercial services to the exchange platforms.

A few days ago, the Tribunal for the Defense of Free Competition of Chile ordered 9 banks to reopen the accounts of the cryptocurrencies exchange houses.

The position of the Ministry of Economy could calm down the reprisals against Chile’s Bitcoin (BTC) ecosystem. However, there is still a long way to go to resolve the legal situation of the cryptocurrencies market in Chile, as there is no law for the cryptocurrencies regulation of crypto exchange.

Categories
Crypto Finance

Blockchain Technology, Implemented By The Main Banking Entity In The United Arab Emirates, Emirates NDB

One of the main banking entities of the United Arab Emirates (UAE), the Emirates NBD bank, has recently published a full-scale application, for the first time on its platform, that uses the Blockchain Technology to authenticate checks – the Check Chain service.

According to the official statement, the Check Chain service processed approximately 1 million checks using the blockchain technology to verify the authenticity, in the first month of operation. A commitment to the Blockchain that seeks to significantly strengthen the administrative processes of risks and security, focusing on the reduction of checks fraud, a problem that has affected the Emirates NBD for years.

The financial institution believes that this adoption will improve the security standards within its corporation, Emirates NBD Group, and throughout the banking sector of the United Arab Emirates. Since its trial stage, this application has worked in different banking institutions in the region, such as Emirates Islamic.

Check Chain platform is part of the UAE’s wider plan of the blockchain technology adoption

Check Chain works by including a QR code to each printed check, accompanied by random 20 characters. These characters, along with the QR code, will be registered in the blockchain to authenticate and track the origin of the check at the time of use, in order the use of false checks.

This innovation is part of the United Arab Emirates strategy to become a nation that uses blockchain technology to carry out most of its transactions. This nation has already implemented this technology in various social sectors.

The Check Chain platform, implemented by Emirates NBD, is, at the moment, a blockchain technology that has not been replicated elsewhere. This platform invites technological developers to adapt to the principle of the blockchain to satisfy the needs that different sectors, financial or not, require. Innovation is the key to a more secure future.

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