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EOS and Tron: Two cryptocurrency projects to watch this month

Bringing in the new month, we bring you two cryptocurrency projects on which to keep your eyes fixed. Here, we explore why we think EOS and Tron look to be making an impact in the cryptocurrency community this month.

Written by Becky Leighton Published on

New month, new watchlist.

This June, EOS and Tron are definitely on this list with exciting new things that the projects look to have in store for users and investors. From partnerships with Tesla to brand new mainnet launches, this month promises to be worthy of watching these two projects.

While we would not endorse buying tokens for the listed cryptocurrency projects, we do think they are worth keeping an eye and that something interesting might emerge this month.

EOS

With this altcoin’s blockchain set to officially release this weekend, EOS should really be the talk of the cryptown.

The EOS team has been raising money for the project almost a year and boasts reports of making $4 billion USD in its fundraising efforts.

Hopefully, we will see the fruits of the funds used well. It seems this might the case, with the announcement that the shiny and brand-new platform will boast a dozen fun features. Word for word, these are:

  1. “Free Rate Limited Transactions
  2. Low Latency Block confirmation (0.5 seconds)
  3. Low-overhead Byzantine Fault Tolerant Finality
  4. Optional high-overhead, low-latency BFT finality
  5. Smart contract platform powered by Web Assembly
  6. Designed for Sparse Header Light Client Validation
  7. Scheduled Recurring Transactions
  8. Time Delay Security
  9. Hierarchical Role Based Permissions
  10. Support for Biometric Hardware Secured Keys (e.g. Apple Secure Enclave)
  11. Parallel Execution of Context Free Validation Logic
  12. Inter Blockchain Communication”

EOS aims to support decentralized applications on an industrial level. According to the company, the newly released Easio “allows developers to write business logic that is compatible with consensus algorithms that demand deterministic execution”.

The platform has been compared to a user-friendly version of Ethereum and those who advoctae the altcoin believe that it provides a delightful decentralized alternative to the currently dominating cloud hosting services for data storage.

Why we think this is an interesting coin to watch, apart from the long-awaited release of the platform, is that it has a few interesting points to consider, such as its exciting partnership with Tesla to offer Tesloop, a new trial for a ride-share service as well as the fact that it would have been a 127% investment if you had put in the funds at the beginning of this year.

Also, in order for developers to build on the EOS network, it is required that they own the cryptocurrency’s token – not to “spend”, but just to prove that they hold them. Proof-of-ownership, if you will. This is an unusual tactic for a token, and we will see how it works for the platform.

TRON

With an exciting new mainnet launch on the calendar for this cryptocurrency project, it looks promising to be worthwhile to watch Tron this June. Currently working on Ethereum’s blockchain, Tron will be making the move onto its very own patented blockchain later this month.

Tron backs itself to build a platform for content subscription and act as a medium for content creators using a push-based methodology and it seems to have backing from a number of others too.

The project’s upcoming token swap has seen a wealth of support from cryptocurrency exchanges as it readies itself for its mainnet launch and names such as Bibox, Binance, Bitfinex, Bithumb, Bitpie, Bittrex, Bixin, Coinnest, Coinrail, Dragonex, Gate.io, Liqui, RIGHTBTC, Upbit, Zebpay have all rallied to support Tron in the move.

Not only does the backing from these exchanges show that they trust Tron’s decision to move from Ethereum’s platform, they also seem to trust that the project will be able to sustain itself on its own blockchain.

Tron sent a “dear investors” regarding the exciting shift, saying that

Token migration from ERC20 TRX to Mainnet TRX will occur between June 21st – June 25th (GMT+8). If your TRX is held on an exchange, no action is required. If your TRX is held in a wallet, you must deposit your TRX to an exchange before June 24, 2018, to avoid any losses. From June 21st– 25th, TRX withdrawals on exchanges will be suspended. On June 25th, both TRX deposits and withdraws on exchanges will be suspended. Deposits and withdraws will resume on June 26th. During this period, TRX trading will not be affected. If your TRX is held in a wallet and you were not aware of the migration notice, or saw the migration notice after June 25th, please visit our permanent token-exchange counter to exchange your tokens for Mainnet TRX.”

If we take a look at the figures, if investors had put funds into Tron on 1st April, they would be receiving a 142.86% return. If this isn’t a reason to watch the altcoin this month, the launch of the project’s mainnet definitely is one.

So put it in the old diary; the launch is set to take place between 21st and 25th June.

Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton

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