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Paxtradings Crypto Minute: May 31, 2018

//Paxtradings Crypto Minute: May 31, 2018

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Tron (TRX) Begins Migration to Own Blockchain

Odyssey 2.0, the mainnet software for the cryptocurrency Tron, was launched early on May 31, signaling the first step in transitioning the Tron network away from Ethereum and towards its own independent network. According to an article on CCN.com, the network will be in beta for the majority of June, with token migration occurring from June 21 to June 24. The official launch of Odyssey 2.0 will take place on June 25 with the implementation of the Genesis block.

Monster Products, Inc. Planning $300 Million ICO

According to Coindesk, electronic accessory maker Monster Products, Inc. has filed with the SEC and plans to run “one of the biggest ICOs of all time”. The Monster Money Network will be an e-commerce site for selling the company’s various products. According to the report, Monster Products, Inc. has been losing money for years, but “a $300 million initial coin offering (ICO) may be what it takes to turn the company around.”

Ethereum Classic Upgrades Protocol So Mining Remains Viable

According to CoinTelegraph, Ethereum Classic has successfully implemented an upgrade to the system protocol that will ensure mining on the network remains viable. On May 29, a fork removed the “difficulty bomb” that was leftover as a “component of the original Ethereum (ETH) code that was designed to exponentially increase the difficulty of mining to the point where it would become impractically slow, thereby triggering the need to transition to a Proof-of-Stake (PoS) consensus algorithm”. According to the report, the ECIP-1041 protocol upgrade will not result in an AirDrop, or the creation of a new token.

2018-06-01T00:45:06+00:00June 1st, 2018|Categories: Crypto Minute|

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