By CCN.com: Tron founder Justin Sun is out to prove that crypto is not a scam ― despite hyperbolic emotional protestations by haters that it is.

To this end, Sun hired a former SEC employee to be the first compliance director for Tron, a blockchain platform for supporting smart contracts and high throughput.

Sun believes that tailored regulation will promote the mainstream adoption of cryptocurrencies by stamping out con artists.

Justin Sun: I Fully Embrace Regulation

“We’re ready to fully embrace regulation here,” Sun told VentureBeat. “We’ve just hired our first head of compliance, who previously worked for the SEC for almost eight years.”

We want to make sure we’re fully regulated in not only the United States, but also China, Korea, and Japan in the future.

Blockchain is like a new operating system. We believe the world will need to embrace the blockchain. And we’re very optimistic about how it will be regulated.

The SEC, I think, also sees the blockchain as a good opportunity for innovation in the United States. I’m hoping that this year the SEC will license and regulate coin-based exchanges. This year will be the year of full regulation.

Sun made the remarks at the NiTron Summit in San Francisco on January 18. At the conference, Sun shared the stage with NBA Hall of Famer Kobe Bryant, where the two discussed the challenges of entrepreneurship.

Justin tweeted an amusing photo of himself with the retired NBA superstar holding a Tron mascot wearing a Los Angeles Lakers jersey.View image on Twitter

View image on Twitter

Justin Sun@justinsuntron

It was amazing to talk about our shared values. Let’s continue to wake up every day doing the things we love! @kobebryant #TRON #MambaMentality2,3869:10 AM – Jan 19, 2019 · Yerba Buena Center for the Arts Theater627 people are talking about thisTwitter Ads info and privacy

Justin Sun is only 28-years-old, but his ambitions are huge. He really wants blockchain and crypto to go mainstream.

One of the ways he hopes to do this is by launching the BitTorrent Token (BTT) on the Binance Launchpad. BitTorrent is a peer-to-peer file sharing protocol that boasts 100 million users in 138 countries. Sun acquired BitTorrent for $126 million in July 2018.

The BitTorrent Token is a cryptocurrency linked to the BitTorrent file-sharing platform.

Former Exec Torches BitTorrent

BitTorrent was recently rocked by unflattering allegations from a former Tron executive, who trashed the project.

Two weeks ago, former chief strategy officer Simon Morris said there’s “no way” the Tron blockchain can handle BitTorrent’s high rate of transactions. On Reddit, Morris was dismissed as a disgruntled, incompetent former employee.

But that’s not the biggest scandal that Tron has suffered. In June 2018, CCN broke the news that Tron had plagiarized code from Ethereum and other projects and changed the file names to make it hard to identify the source of the code.

Sun has called the plagiarism scandal a “misunderstanding.”

CCN.com@CryptoCoinsNews

Exclusive: Researchers Allege Tron Plagiarized Code from other Crypto Projects https://www.ccn.com/exclusive-blockchain-researchers-allege-tron-copied-code-without-attribution/ …697:37 AM – Jun 22, 2018Twitter Ads info and privacyExclusive: Researchers Allege Tron Plagiarized Code from other ProjectsResearchers claim to have discovered multiple instances of code copied from other projects without attribution in the Tron codebase.ccn.com56 people are talking about this

Meanwhile, Sun brushed off these setbacks and is charging ahead because he believes 2019 will be a watershed year for the crypto industry. Specifically, he believes that video games will help bring blockchain into the mainstream and decentralize the Internet.

“The first application of the blockchain is for games,” Sun told VentureBeat. “Most people don’t know that.”

They’ve even said that blockchain doesn’t have any use for games. But if you look at the Tron blockchain, games are tremendous there.

We have three to five application uploads into the Tron network every day. That’s why I was talking about 2,000 apps this year in my speech. We see massive adoption.”

Sun: Games on Tron Give Control to Players

Sun says most of the blockchain games on the Tron network are democratized because they give rights back to the players.

“You can own your own custom characters,” Sun explains. “You can sell those custom characters to other players, or trade with each other. Meanwhile, developers feel inspiration because they can control their own games.”

In contrast, Sun says if you publish your video game on Android or iOS, it’s controlled by Google or Apple.

“They take their cut and they control your publishing,” Sun noted. “They can delete your game if they want to. But for Tron right now, you can build your traffic volumes and you don’t have to pay a middleman to distribute your game.”

This post credited to CCN. Image source: CCN

Blockchain platform Tron has hired a former United States Securities and Exchange Commission (SEC) supervisory attorney as its first chief compliance officer. The company has revealed this to Cointelegraph in a press release on Jan. 9.

David Labhart, who previously worked as an attorney for the U.S. regulator, will also take on the role of co-general counsel at the company.

Tron, along with its associated TRX token, has built a major presence over the past year, in part due to the continued, and at times controversial, publicity efforts centred around CEO Justin Sun.

Designed to offer an alternative platform for decentralized applications (DApps) to Ethereum, Tron celebrated its one millionth user account last month.

TRX has risen 6.4 percent in the past 24 hours according to CoinMarketCap data, making it the best daily performer in the top twenty cryptocurrencies by market cap.

Evolving regulatory compliance obligations remain an issue for cryptocurrency entities serving both the U.S. and most other major markets. As Cointelegraph reported, some businesses such as crypto exchange Bittrex have opted to split their operations in order to segregate U.S. users, who are bound by different rules.

This post credited to Cointelegraph.

Image source: Cointelegraph

Ethereum, TRON, and Iota have outperformed most other major cryptocurrencies by the 30-day Sharpe ratio, a measure developed by Nobel laureate William F. Sharpeto evaluate the return of an investment relative to its risk. Meanwhile, Bitcoin’s performance was dismal.

Within the last 30 days, the market has experienced a robust recovery after bottoming out in December. One indicator, the Sharpe ratio, calculates the performance of an investment adjusted for the risk-free interest rate per unit of volatility.

To calculate the Sharpe ratio, first, the risk-free rate is typically determined using U.S. Treasury Bills as a zero-risk benchmark. Then, over a given period of time, the rate of return of an investment is calculated. The risk-free rate is subtracted from the rate of return of the investment to produce the amount of excess return. Finally, the excess return is divided by the standard deviation (volatility) to produce the Sharpe ratio.

(Average Cryptocurrency Return – Risk-Free Rate) / Cryptocurrency Standard Deviation

The greater the returns over the risk-free return, the higher the Sharpe ratio. More consistent returns over time also produce a higher Sharpe ratio. Meanwhile, a negative ratio indicates that the return on investment was lower than the risk-free interest rate in a given period.

For comparison, U.S. Treasury Bills have a Sharpe ratio of zero. The S&P 500, an index of stocks from the largest 500 U.S. companies, had a rolling 12-month Sharpe ratio of approximately 1.0 over the last 25 years.

Chart courtesy of 6 Meridian

Understandably, cryptocurrency has a very low—and sometimes even negative—Sharpe ratio because of its extreme volatility. The chart below shows the lifetime volatility of bitcoin’s daily rate of return relative to the S&P 500:

Original analysis by CryptoSlate. Scrutinize our data on GitHub

The chart emphasizes the extreme levels of volatility experienced by bitcoin, even when compared to a moderately volatile index, such as the S&P 500.

On Jan. 4th, LongHash calculated the 30-day Sharpe ratio for various cryptocurrencies:

Chart courtesy of LongHash

Ethereum and Iota generated Sharpe ratios of 0.124 and 0.127, respectively. TRON lead the way with a ratio of 0.169. Over the last month, Bitcoin had a dismal ratio of -0.0722, indicating that U.S. Treasury Bills outperformed the cryptocurrency in the last 30 days. These figures have little to no bearing on how the cryptocurrencies in question will perform in the following months.

Whether the Sharpe ratio has any relevance for evaluating the merits of a cryptocurrency is another matter entirely. The new asset class is new enough and volatile enough that the ratio may not provide any useful information—but we’ll let the analysts in our audience make the final decision.

This post credited to cryptoslate Image source: Cryptoslate

According to StellarRippleMt. Gox, and e-Donkey co-founder Jed McCalebTron is “just garbage.” McCaleb, who forked away from Ripple to create Stellar due to personal differences with the mission of Ripple’s corporate board at the time, also feels that the crypto market is doing well. He pointed out to Yahoo! Finance that it’s “way way up” even if it’s had some turbulence over the course of 2018.

McCaleb was asked over the phone what his takeaways are from crypto space “beyond the price.” McCaleb said that the way that capital is invested in crypto projects is “wild to watch.” He added that with a reduction in market capitalizations and token prices, things begin to smooth out.

One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that.

Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.

McCaleb picked an interesting project to poke at, being that Tron has outperformed Ethereum in terms of actual smart contract development and usage, something that very few people would have seen coming a year ago. Stellar has yet to offer a smart contract development platform on the order of Ethereum or Tron. McCaleb offered no further justification as to why Tron is “just garbage.” Tron founder Justin Sun has gone on record as saying that he wants to “rescue” developers from platforms like Ethereum and EOS.

Stellar “Poorly” Marketed

When asked if people generally know what Stellar is, McCaleb said that he did not think so.

I don’t think they do. We’ve done a pretty poor job of marketing it and telling the world what Stellar is about. I think they have a vague notion that it’s for payments, but I don’t think they know the details and the real power of it. We’re hoping to change that in 2019, but it’s a process.

Research shows that many people have little understanding of Bitcoin or blockchain at all, let alone Stellar. The majority have no interest in blockchain banking offerings. In terms of the options people will eventually choose for making peer-to-peer payments outside of standard US Dollar options, the market is still very much in developmental stages.

End-of-Year Tribalism in Crypto

McCaleb joins developer Bryce Weiner, investor Tuur Demeester, and Ethereum creator Vitalik Buterin in lobbing verbal grenades here at the end of 2018, a year which has Bitcoin hailed as the worst possible investment choice.

Tribalism in crypto circles is of course nothing new, of course. But later entrants have lent their allegiance to the assets they believe will perform the best. While Stellar remains a top-10 crypto by market capitalization, Ripple, which is extremely similar in design and functionality, has consistently outperformed it on news of business partnerships and integration with banking systems the globe over.

McCaleb and others from Ripple Labs developed Stellar when they felt that the mission of the company was moving too far away from their vision of a peer-to-peer payments system. He later faced a lawsuit over dumping his Ripple.

Stellar’s blockchain facilitated 1,024 transactions on December 30th, an average of 42 per hour. Ripplefacilitated 396,354. Comparatively, Tron processed 2,845,490 transactions during the same period, and Bitcoin did 267,463 – all according to Coinmetrics.io, which tracks such information.

McCaleb joins developer Bryce Weiner, investor Tuur Demeester, and Ethereum creator Vitalik Buterin in lobbing verbal grenades here at the end of 2018, a year which has Bitcoin hailed as the worst possible investment choice.

At the same time, Stellar had dropped a full penny from its 5-day high of nearly 13 cents at time of writing.

Featured image from Shutterstock. Jed McCaleb image from LinkedIn. Chart from TradingView.

This post credited to ccn

From an institutional crypto craze to a big update on the Tron network, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin, XRP, Ethereum, Bitcoin Cash, Litecoin

Institutional traders are in a frenzy over the new crypto ETP that launched on Switzerland’s SIX Exchange last week.

As reported by The Block, the Amun Crypto Basket Index (HODL) now has the highest volume of any exchange-traded product trading on the venue. Its turnover is at about $425,000 a day, more than silver, crude oil and gold.

The index has nearly half of its assets invested in Bitcoin, with the remaining half comprised of XRP, Ethereum and Litecoin.

Stellar

Crypto exchange Coindelta just listed Stellar (XLM).

The India-based exchange says deposits and withdrawals are enabled, and the coin can be bought with the Indian rupee.

Coindelta@coindelta_

** New Listing on Coindelta **

Knock knock! Announcing the listing of Stellar (XLM) on Coindelta.
Deposits and Withdrawals are live now and the trading will start at 06:00 PM IST, 26/11/18. 😉

Details: https://medium.com/coindelta/coindelta-lists-stellar-xlm-ff438e465cc  @StellarOrg

15 people are talking about this

Ripple

A Ripple-backed venture just closed its Series A round of funding, raising more than $12 million.

Securitize aims to transform the securities industry by leveraging blockchain technology to tokenize private and public shares on the New York Stock Exchange or Nasdaq.

Ripple’s Xpring investment fund contributed an unknown amount to the project, along with Coinbase Ventures.

Tron

Tron just released a new update on DApp development, and says more than 20 decentralized apps are now up and running on the Tron network.

This post credited to Daily HODL Image source: Daily HODL

During an interview with Investopedia on Oct. 5, Tron CEO Justin Sun stated that its developer community is more vibrant and active than Ethereum.

When asked by the publication to provide five reasons why Tron is better than Ethereum, Sun said:

“At TRON we always emphasize the importance of accessibility and our dedication to the community. That’s why we made sure to deliver on our goals of being faster and cheaper than Ethereum, providing an easy-to-use and affordable network to our vibrant community of talented developers.”

1,000 Developers at ETHSanFrancisco Ethereum Hackathon

In a recent hackathon held in San Francisco, more than 1,000 developers gathered to develop applications and scaling solutions on Ethereum.

Brayton Williams, the co-founder of venture capital firm Boost VC and a blockchain investor, stated:

“5 years ago at one of the first crypto conferences ‘Bitcoin 2013’ we Boost VC organized the hackathon. We maybe had 25 people participate and took place in San Jose. This weekend it was amazing to see over 1,000 people hacking away @ETH SanFrancisco at the Palace of Fine Arts.”

Lindia Xie, a co-founder at Scalar Capital and 0x advisor, who has helped ETH SanFrancisco and other locations to host Ethereum hackathons, said that the developer community of Ethereum has grown significantly over the past three years.

Echoing the sentiment of Williams, Xie said:

“Completely agree, I remember attending the ETH San Francisco meetups 3 years ago and it’d be like 20 people there! It’s been so amazing seeing the community grow.”

ethereum Blockchain EEA

In terms of user activity, transasction volume, network activity, and number of dApps, Ethereum is stastically far ahead of Tron. According to Etherscan, Ethereum is processing around 500,000 transactions per second on a daily basis. Tron, in contrast, is struggling to record 50 percent of that.

But, for blockchain projects based on the ERC20 token contract standard of Ethereum, competition against the second most valuable cryptocurrency in the global market is only friendly, because they benefit off of the efforts of the developer community of Ethereum to scale the blockchain.

Many of the scaling solutions that are being integrated into the Ethereum network including Sharding, Plasma, Snark-Based Side Chain, and ZK-SNARKs are expected to drastically increase the mainnet capacity of the Ethereum network, which will be beneficial to both dApps and blockchain protocols launched on top of Ethereum.

How Tron can Actually Compete

In all areas, Tron remains behind Ethereum, and the blockchain project is not close to catching up to the dominant smart contract protocol, as a cryptocurrency that remains outside of the top 10 rankings in the global market.

But, Tron’s acquisition of BitTorrent, the largest torrent client in the world with more than 100 million users, given Tron a unique market to target with a decentralized blockchain system. With it, if leveraged correctly, it is possible for Tron to find a solid use case of its blockchain technology.

This post credited to ccn Images from Shutterstock

TRON is aiming to bring blockchain and file sharing together with their latest venture, Project Atlas, which will blend blockchain technology with BitTorrent’s massive peer-to-peer infrastructure.

TRON acquired BitTorrent in July 2018, along with its 100 million active monthly users. BitTorrent is an established peer-to-peer network with a developed and tested infrastructure, but only time will tell how well the collaboration will work.

It’s an intriguing move, but what does it mean? Peer-to-peer file sharing has always been a popular way of exchanging information and media online, with around 27 million people using it to share or download files every day.

It’s clearly an important space and dates back to the early days of the internet. File sharing advocates are quick to call attention to its value in promoting democracy, openness, and the free exchange of ideas. Its detractors, of course, will point to the misuse of file sharing and torrenting platforms by pirates and criminals.

Still, many projects in the space are committed to making the internet a fairer and more decentralized place, where users can interact directly with one another instead of relying on centralized third parties. In this sense, it has something in common with the world of blockchain.

Project Atlas is an attempt to fuse the two spaces, with the aim of improving how file sharing works.

The aim is to improve the way BitTorrent works by introducing blockchain technology and tokens. BitTorrent already has reward systems in place to encourage users to share files for longer and be responsible members of the community, but TRON hopes to use tokens to further this.

The system will use tokens to reward users who seed files for longer and use faster nodes, as well as those who share more of their bandwidth and storage space. This way, they hope to increase download speeds and make the file sharing experience smoother and more pleasant.

It’s also backward compatible, which means the original BitTorrent software will continue to work while new changes are being made. The team has promised to keep BitTorrent products free, which should be a relief for the software’s user base.

The project could help encourage more responsible usage of torrenting and improve user experience. On the other hand, torrenting has found it hard to shake off its shady reputation, and turning this around could be a challenge.

This post credited to ccn Featured image from Shutterstock.