Tron (TRX) founder appears to suffer from inferiority complex while VeChain claims to be financially stable despite the downturn in crypto markets
Inferiority complex is by definition an unrealistic feeling of general inadequacy caused by actual or supposed inferiority in one sphere, sometimes marked by aggressive behaviour in compensation. It looks like Tron founder Justin Sun suffers from one such psychological state as he keeps spouting out huge numbers in a hitherto failed effort to amaze broader crypto community.
TRON is one of the more disputed projects in the crypto market that has become known worldwide through the aggressive marketing of its founder, Justin Sun. Although TRX’s price is currently at a very low level, the platform for distributed applications is developing rapidly. At the time of writing, TRON had already processed over 108 million transactions in its network. This milestone clearly shows that the use of the TRON blockchain continues to increase.
According to DappRadar website data, a large part of the volume comes from decentralized betting applications, with the second largest sector coming from decentralized crypto exchanges. Even if these advances are only the beginning of the future development, they show the potential of this idea.
TRONbet is number 1 on the DApp list with the largest transaction volume – more than 10 million TRX were paid out. The new DApp ShrimpFarm is also meeting with great interest, but it is still too early to praise this DAPP. The Bitizens gaming app has moved from the Ethereum network to TRON for scalability reasons so that all operations can be performed without delay.
VeChain signs MoU with Cloud Provider BIOS
BIOS Middle East is one of the leading providers of cloud services in the Middle East and serves customers in the finance, energy, retail and chemical industries. The company announced in a press release that VeCHain will provide blockchain services for BIOS. This will provide a complete solution, Blockchain-as-a-Service, for BIOS customers, allowing them to access all services from a single source, rather than having to purchase different building blocks from different companies.
Have a look at the current Tron price or Tron price prediction for 2019 & 2020.
BIOS Middle East will integrate its existing service solution into the VeChain blockchain. This will allow data to be securely stored and preserved as it is encrypted in the more immutable blockchain ledger. This not only increases security within the process flows, but also increases external trust because the data cannot be manipulated. Sunny Lu, CEO of VeChain, explains (freely translated):
I am confident that Dominic’s team can leverage BIOS Middle East’s cloud services and systems integration expertise to accelerate adoption and transactions on VeChain’s platform. Starting from Dubai, one of the blockchain-friendly states in the world.
Financially stable VeChain
Some highlights from the yesterday’s Financial Eexcutive Report by VeChain Foundation:
The VET total supply on the VeChainThor Blockchain is 86,712,634,466. By the end of Oct. 2018, the ratio of the circulating VET supply is 67%
Although the overall market had been bearish in this period, VeChain still received a multiple investment offers from renowned institutions and Venture Capitals
The distribution percentage increased slightly in comparison to the last period as the team continues to grow. Eight full-time team members were employed, and five joined the tech team led by our CTO Jianliang Gu.
As of the end of November 2018, approximately 97% of the ERC20 VEN tokens have been sent to an unspendable address and swapped for VET on the VeChainThor Mainnet.
We are under no threat of instability and have both the current finances, and future investment options, to withstand any further downturn in the market.
