Tron (TRX) Price Analysis: Trends of September 11 – 17, 2018

Key Highlights:
the coin may move down and test the support level of $0.015;
In case bears increase their pressure, the support level of $0.015 may not hold;
A radical fundamental event can forcefully bring about a significant rally in the market.
TRX/USD Long-term Trend: Bearish
Resistance levels: $0.024, $0.031, $0.041
Support levels: $0.015, $0.010, $0.05

The buyers of TRX/USD were unable to push the price higher far above the resistance level of $0.024. The price fell due to the bearish pressure towards the support level of $0.015. Some bearish candles were formed which further reduces the price last week. The price is below 10-day EMA and 50-day EMA is above the 10-day EMA. There is a possibility for the coin to move down and test the support level of $0.015 this week. Should bears increase their pressure, the support level of $0.015 may not hold and it may be exposed to another support level of $0.010.
However, there is probability that the price might go up within the next several trading days, by making a break out towards the North at $0.024 as the Stochastic Oscillator Period 14 on the daily chart is below the level 20 with the signal lines pointing towards the North, indicating that there could be a bullish movement this week.
TRX/USD Price Medium-term Trend: Bearish

TRX/USD on the medium term is bearish. The coin broke the last week support level of $0.024 and rallied towards the south and the price was exposed to the support level of $0.015. The 10-day EMA crossed the 50-day EMA downside with the price below 10-day EMA which indicates that there could be a downtrend movement towards the support level of $0.015.
In case more buyers come in this week there is a probability that the price will experience uptrend movement towards the resistance level of $0.024 as the Stochastic Oscillator Period 14 is above 20, with the signal lines directed towards the North. A radical fundamental event can forcefully bring about a significant rally in the market.
 
Disclaimer: The views and opinions expressed here do not reflect that of Coinspeaker.com and do not constitute financial advice. Always do your own research. The charts for the analysis are provided by TradingView
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Blockchain: A Step Towards Decentralization or Another Form of Centralization

This feature is what has set the technology apart since its debut in 2008 as an innovation by Satoshi Nakamoto. The idea behind the tech was to create a platform for transactions without control by central authorities.
Via using consensus protocols, transactions and data are recorded on the block, which is immutable and secure. The concept is to completely remove any form of control from a central third party or trust.
The decentralized nature of blockchain has been the main selling point of the tech which several organizations and blockchain startups have cashed in on, by creating products and offering services on the premise of transparency and decentralization.
The big question is, are companies truly creating a system that’s fully decentralized or are they creating a new form of centralized structure?
Staying True to Decentralization?
Since the creation of Bitcoin and Ethereum, as mentioned earlier, several blockchain startups have introduced myriads of services using blockchain ranging from entertainment and healthcare to digital identity solutions and creation of digital assets with the promise of full decentralization.
However, with several of these services already operational, it’s becoming obvious that several of the prominent blockchain projects have begun leaning towards centralization, a problem blockchain was intended to solve.
Bitcoin, for instance, the pioneer of blockchain technology and the Proof of Work (PoW) consensus mechanism, is unfortunately one of the projects that is gradually shifting away from decentralization.
In the earlier stages of Bitcoin, the PoW consensus mechanism seemed to operate perfectly as miners had liberty and obtained rewards. However, as mining became even more difficult and these valuable rewards became more competitive, miners began joining forces to pool together, thus sharing computation power and rewards.
Consequently, a few number of pools mostly in China took control of the mining process. The low energy costs in China gave these pools an upper advantage. This monopolistic control is what gave the few pools major influence over the security of the Bitcoin network.
However, one could argue that this centralization of mining pools is a result of a few big mining operations coming together, not a result of any actions from the governance of the Bitcoin network itself.
The security of the network is also one of the safest, as there are close to 10,000 nodes spread out around the world. As a payment utility, Bitcoin is still the go to transaction asset and one of the more stable coins in the volatile industry.
Another blockchain project that is also seemingly facing issues with decentralization is Ethereum. Ethereum received massive popularity among blockchain projects and exchanges due to its smart contracts functionalities.
At one time it appeared to be the standard in the blockchain sector. However, the blockchain platform faced some controversial issues in 2016 with regards to its hard-fork between Ethereum and Ethereum Classic.
A situation that was a result of a dispute within the community over an attack on the Decentralized Autonomous Organization (DAO) of the Ethereum blockchain saw millions of dollars missing. Vitalik Buterin, co-founder of Ethereum, had proposed the solution to hard-fork the blockchain to combat the hacking and allow for the return of the stolen money.
However, this raised questions of true decentralization among the proponents of Ethereum Classic, the blockchain that was not forked. The blockchain being forked at will only goes to question if true decentralization can be guaranteed. Ethereum, however, is still one of the most decentralized blockchains out there, with over 15,000 nodes.
This guarantees the relatively strong security of the Ethereum network, and to this day, the ERC token standards are widely adopted by many projects looking to issue their own tokens, which means Ethereum is still standing strong and a force that cannot be ignored.
NEO is another example of public blockchain project that drifted towards centralization in its pursuit for scalability and efficiency. NEO’s chain due to its consensus mechanism is managed by a few master nodes less than 50 in comparison to Bitcoin and Ethereum – over 9000 and 15000 respectively.
Interestingly theses master nodes are controlled by NEO and its partners giving them total control over the network, a situation which negates the concept of decentralization blockchain promises.
The Need to Maintain Focus and Stay the Path
If blockchain technology primarily creates a platform for decentralization and removes control from third party trusts, then it is crucial that blockchain projects stay focused on the path and remain true to the technology. If systems are not adequate, we might just be on the way to creating the same problems blockchain claims to solve and even on a larger scale.
Projects like Metaverse have endeavored to stay true to decentralization. Allowing users to create Digital Assets using Digital Identities, the project remains one of the most decentralized blockchain platforms.
The Digital Assets, which consist of fungible and non-fungible assets (MST and MIT respectively) are directly linked to the users’ digital identity Avatars.
Furthermore, with the Metaverse Explorer, users are able to easily access information on the Avatars and assets as well as get information on any address, transaction, or block quickly.
The project continually promises to remain true to full decentralization by constantly improving its consensus protocols to meet the needs of its users to avoid any form of mining centralization and unnecessary interference with the network.
This rekindles the belief that it is indeed possible to stay the course of decentralization without tradeoffs. Several blockchain platforms, as pointed out, have derailed on the premise of scalability and efficiency.
However, this must be guarded against. Blockchain has promised a fully decentralized solution that remains crucial to today’s failing system, however, it is important to ensure that promise adhered to.
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NEXT BLOCK Blockchain Conference Networks the Right Talent

They count on an unprecedented amount of capital as institutional investors warm up to the idea that blockchain might actually change the economic landscape for good. From Silicon Valley venture capital firms to Wall Street veterans, the funds are flowing in search for the scarce talent that will help scale the budding industry.
However, anybody who seeks to join these networks of talented individuals has to come out of their virtual bubbles. No type of interaction on Telegram or BitcoinTalk can be as valuable as coming together in person to share actionable ideas, business solutions, and find potential partners.
This is why blockchain conferences have become such a vital part of the space. They allow anyone to participate in the growing community alongside renowned veterans and possible investors.
Krypton Events has become a runaway success in the organization of events that create these connections after a recent conference in the Eastern European tech capital of Kiev which took place in May.
It featured keynote speakers such as Bitcoin Foundation board member Bobby Lee, CryptoCoinNews Editor-in-Chief Simon Cocking, as well as other blockchain experts who discussed the future of ICOs, simplifying public relations for blockchain ventures, and even the first music label on the blockchain.
CEO Alisa Berezutska believes the events have stood apart because,
“The type of conferences we organize is not your run-of-the-mill, meet and greet soirée. At Krypton we focus on the participants’ experience and fostering meaningful connections. This is, ultimately, how we can make the industry grow: helping the right talent connect with the right leaders. ”
Now, the company is partnering with leading blockchain publication Cryptovest to host the upcoming NEXT BLOCK Conference, themed “Evolution of Money” where everything is set to take place at the National Palace of Culture in Sofia on September 14.
The event will attract some of the industry’s top leaders, entrepreneurs, and talent to the Bulgarian city and is supported by the world’s largest exchange in trade volumes OKEx, the world leader in global payments Paysafe, and the leader for tracking capitalization of various cryptocurrencies CoinMarketCap. More than 20 distinguished guests will share their insights and experiences in the blockchain space.
Participants will also be treated to a luxurious after party courtesy of Fashion TV, featuring a performance by Bulgarian superstar Vessy Boneva and a set by DJ Funkster.
Sterlin Lujan, the conference’s keynote speaker, is the Communications Ambassador for Bitcoin.com. He is one of the most famous crypto journalists, editors and speakers, and a well-known anarchist and essayist involved in cryptocurrency and Bitcoin since 2012.
He will be joined by more than 20 distinguished blockchain leaders, including:

Marc P. Bernegger, Serial Fintech and Crypto Entrepreneur;
Mitchell Eaglstein, Co-Founder & CEO of FDCTech, Inc.
Naeem Aslam, Columnist with Forbes, CEO of London Fintech Fund;
JC Oliver, Innovation Advisor at MOVIECOIN;
Omourtag Petkov, 
Chairman of the BBBA, Partner at the law firm DGKV;
Pascal Forster, Board Member, Crypto Finance AG;
Agada Nameri, general manager of iCapital.

The conference will also feature an exposition full of blockchain ventures and an ICO Quick-fire Pitch session where each participant will have five minutes to present their project to investors. Furthermore, they will get a chance to win a pool of 10,000 BGN and $10,000 equivalent in IOTW tokens as part of a Hackathon co-organized with Paysafe.
NEXT BLOCK will continue to foster the development of the global blockchain community throughout the year. Forthcoming events in Lisbon and Tel Aviv have already been announced by Krypton Events.
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Winklevoss Twins Launch US Dollar-Backed Cryptocurrency

Tyler and Cameron Winklevoss have received NY state approval for the launch of the Gemini Dollar, a U.S. dollar-backed cryptocurrency.

The impact that cryptocurrency is having on the financial world, not to mention broadening a person’s economic opportunities, is staggering. Yet the promise of using cryptocurrency as an everyday means of exchange has proven elusive. The volatility of crypto has led many merchants to avoid them, and the increase in value, especially for Bitcoin, has encouraged people to hold them for long-term investments. The Winklevoss twins hope to fulfill the original goal of virtual currency by launching their Gemini Dollar, a stablecoin backed by the U.S. dollar.
Winklevoss Twins Get State Approval
The New York Department of Financial Services (NYDFS) has given the green light to the new cryptocurrency by the Winklevoss brothers. The token, based upon the Ethereum blockchain, has now officially launched from the Gemini Trust Company.
The Gemini Dollar is pegged to the U.S. dollar on a one-to-one ratio. For every Gemini Dollar in existence, a U.S. dollar will be held in an FDIC-insured account by State Street, an investing powerhouse.

The fact that a major financial institution is housing the account that backs up the new stablecoin is part of what the Winklevoss twins call the “network of trust.” It is this network that they say separates the Gemini Dollar from other stablecoins. As Tyler Winklevoss says:
It’s not just Gemini Trust, but you have to build a network of important players that are also trusted to solve for the trust problem of a stablecoin.
This “network of trust” is further strengthened by the fact a monthly third-party audit will be carried out by BPM Audit. This monthly check will ensure that there is a U.S. dollar held for every Gemini Dollar.
Gemini Dollar Not Alone
However, the Winklevoss twins are not the only ones to get NYDFS approval for a stablecoin. Paxos, the company behind the itBit cryptocurrency exchange, also received permission for their U.S. dollar-backed Paxos Standard cryptocurrency, which is also based upon the Ethereum blockchain.
Maria T. Vullo, the superintendent of the NYDFS, says:
These approvals demonstrate that companies can create change and strong standards of compliance within a strong state regulatory framework.

A major benefit of these stablecoins is that they can be used 24/7 in the business world, unlike fiat, which is only available during normal business hours. Tyler Winklevoss notes:
If there’s a price dislocation in a certain market and it’s a Friday night, traders can’t move fiat currency until Monday. [The Gemini Dollar links] the 24-7/365 nature of cryptocurrency and blockchain with the fiat world.
Chad Cascarilla, Paxos Chief Executive, agrees, saying:
Being able to move payments 24 hours a day, seven days a week and make payments programmable in a dynamic way is still very difficult [with fiat].
This is a tremendous development. The launch of a new cryptocurrency that is backed by heavy institutional hitters will help increase acceptance and adoption. While not as sexy as hoping Bitcoin will reach $20,000 or higher in value, the regulatory approval of these two new stablecoins increases the legitimacy of cryptocurrency.
Do you plan on using the Gemini Dollar? Let us know in the comments below.

Images courtesy of Shutterstock.
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The European Commission: Сrypto Assets Are Here to Stay but Should Be Classified

Despite all the negative trends on the cryptocurrency market, the European Commission is rather positive about its future. This executive body that is in charge of proposing legislation for the entire European Union is planning to focus its work on the development of crypto asset classification and regulatory mapping.
This year, the European Commission has been working on analysis of the cryptocurrencies market and evaluation of its perspectives and potential ways of development. Based on the obtained results of their studies, experts have come to the conclusion that cryptos are here to stay for a long period of time despite recent turbulence.
In his speech at a press conference that took place after a meeting of the Economic and Financial Affairs Council last Friday, the vice president of the European Commission, Valdis Dombrovskis, stated that a lot of members of the commission express their willingness to support cryptos and to start working on the development of regulation.
In other worlds, according to the high official, the majority of the E.U. states want to enhance the conditions for the market’s growth. To achieve this aim, according to the commissioner, it is really necessary to focus on the challenge that is considered to be a priority one –  to find a way to categorize and classify crypto assets.
The commission will also examine whether it is possible to apply the E.U. financial regulation that already exists to the crypto markets or it is necessary to develop new rules for the industry.
Speaking on the issue and commenting the results of their work, Dombrovskis said:
“In this context, we are currently working together with European Supervisory Authorities on what we call regulatory mapping of crypto assets to answer exactly these questions. This will provide a solid ground to build on and to decide on further steps in this area.”
It is important to mention that, according to the vice president of the commission, the Initial Coin Offerings are considered to be an alternative form of financing. Last year, thanks to ICOs, businesses managed to raise more than $6 billion USD. Moreover, the amount of the raised funds as well as the number of companies that may benefit from ICOs will growth if this way of getting investment is legitimized.
It was not the first situation when the vice president of the commission expressed his positive attitude to crypto technologies. Earlier, he had already stated that ICOs represent themselves a cutting-edge and innovative way of raising money. According to him, the regulators should pay their attention to it and explore it on a case by case basis.
Dombrovskis also spoke about some challenges that the industry may face with. Among the problems, he named lack of transparency, risk of fraud and hacking as well as a necessity to offer effective tools that will help to deal with money laundering.
According to the commissioner, to get over these issues it is important to keep monitoring the dynamics of the industry and to establish collaboration with such organizations as the Financial Stability Board and G20.
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SEC Temporarily Suspends Trading of Bitcoin and Ether ETNs

The SEC shut down trading for Bitcoin Tracker One (CXBTF) and Ether Track One (CETHF) until at least September 20th.

The week got off to some mild panic attacks for cryptocurrency advocates. The price of Bitcoin had been steadily chugging upward, hitting $7,387 last Wednesday, but it dropped down to $6,443 later in the day and then danced around the $6,500 mark all weekend. Then came the news on Sunday that the SEC had stopped trading for two investment vehicles that track crypto: Bitcoin Tracker One (CXBTF) and Ether Track One (CETHF). Uncertainty and confusion became the bywords of the day.
SEC Takes Action
Bitcoin Tracker One (CXBTF) and Ether Track One (CETHF) are managed by XBT Provider AB, a Swedish company. The entities provide stock access to cryptocurrencies. While they are both listed on the Nasdaq in Sweden, trades are “over the counter” off exchanges in the USA.

In the order by the SEC, the government watchdog states:
It appears to the Securities and Exchange Commission (SEC) that there is a lack of current, consistent and accurate information concerning Bitcoin Tracker One (Ticker Symbol: CXBTF) and Ether Tracker One (Ticker Symbol: CETHF), issued by XBT Provider AB (publ), a Swedish company headquartered in Stockholm, resulting in confusion amongst market participants regarding these financial instruments.
 
For example, the broker-dealer application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as ‘Exchange Traded Funds.’ Other public sources characterize the instruments as ‘Exchange Traded Notes.’ By contrast, the issuer characterizes them in its offering materials as ‘non-equity linked certificates.’
 
CXBTF and CETHF are listed and trade on the NASDAQ/OMX in Stockholm and have recently been quoted on OTC Link (previously “Pink Sheets”) operated by OTC Markets Group, Inc.
 
The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above quoted company.
No Need to Panic
Jake Chervinsky, a lawyer specializing in government enforcement defense and securities litigation, says everything is alright. He pointed out that there is no problem with Bitcoin or Ether from the point-of-view of the SEC. The problem actually lies with the ETNs themselves as the SEC’s “issue is ‘a lack of current, consistent and accurate information’ on these products, such as whether they are ETFs, ETNs, or something else.”

This is a problem with CXBTF and CETHF, not bitcoin or ether.
As the full SEC order of suspension explains, the issue is "a lack of current, consistent and accurate information" on these products, such as whether they are ETFs, ETNs, or something else: (https://t.co/vXaPrOqJpx) https://t.co/4el9eERyjU
— Jake Chervinsky (@jchervinsky) September 10, 2018

The SEC notes that the documents given to them by Bitcoin Tracker One and Ether Track One state they are ETFs. However, they are actually ETNs (exchange-traded notes), wherein they back all notes with Bitcoin or Ether.
As the SEC has consistently rejected Bitcoin ETF applications, the fact that they have shut down Bitcoin Tracker One and Ether Track One makes perfect sense as they filed documents claiming to be ETFs. Yet XBT Provider AB declares them to be something else entirely.
This is a really just a big ball of confusion, and one that the SEC intends to untangle. It should be noted that this order is only temporary. Chances are that XBT Provider AB will file additional paperwork to declare that the two ventures are not cryptocurrency ETFs at all.
Overall, the reaction by Bitcoin has been pretty ho-hum. While a lot of angst has been expressed over this action by the Securities and Exchange Commission, BTC has remained relatively stable all week. Bitcoin was trading for $6,214 on Sunday, then $6,331 on Monday, and currently at $6,369.
As for the SEC’s final decision on the latest Bitcoin ETF application, we’ll have to wait until the end of the month to find that out.
What do you think about the SEC halting trading in Bitcoin Tracker One and Ether Track One? Let us know in the comments below.

Images courtesy of Shutterstock and Twitter/@jchervinsky.
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The Potential of the Cryptocurrency Market – Why Giving in to FOMO Isn’t a Bad Idea

Bitcoin, along with the cryptocurrency market has surpassed several milestones since Satoshi first released Bitcoin’s whitepaper to the public. There are now approximately 17 million bitcoins in circulation, as well as numerous other tokens available to trade and transact with – as of August 2018, more than 1600 cryptocurrencies are in circulation.
ICOs have also become an established fundraising method, with the first quarter of 2018 recording a historic high of $6.3 billion – around 118% of the total amount raised in 2017. The Crypto ATM market alone is expected to grow from $16.3 million in 2018 to $144.5 million by 2023, this lends credence to the idea that the way financial transactions are undertaken is bound to shift.
However, even though the industry as a whole has garnered considerable support, it remains fairly controversial. This is primarily due to the lack of governmental regulation, as well as the fear generated by fraudulent scams and illegitimate behavior.
We tend to forget that this is a normal process for every innovative revolution; in fact, the crypto market’s evolution is very similar to that of the Stock Exchange market circa late 19th and early 20th century. At the time, the financial boom occurred so fast that it took a while for proper regulation to catch up.
It can be difficult to imagine a time when investment and stock trading markets didn’t exist in the form as we know it now, especially without the presence of institutions such as the SEC and FINRA who now set the rules that help to organize and regulate the sector.
Change is underway as more and more countries are embracing the industry and initiating conversations about future regulation. This holds huge promise for cryptocurrencies, as regulations are strongly linked to a wider acceptance of digital tokens.
At Blockchain.io, we believe that Crypto-Exchanges will lead the way in the new era of how value is traded. The Crypto market holds great potential when it comes to simplifying access to financial payment systems; as such, participation will not be determined by credit history, but by the willingness to access the technology itself.
To facilitate ease of access into this new financial ecosystem, we have worked diligently to deliver a product that is intuitive and easy to use for traders, investors, and the everyday people.
We are mindful of the role that Europe can play in helping to develop this industry further. To transform Europe into a credible Crypto hub that can compete with Asia and the US, we need innovative projects that will deliver stellar products and value to advance the growth and innovation of this sector further.
That is precisely what we aim to do with Blockchain.io, a new gateway into the era of the Internet of Value. Our goal is to become the leading Cryptocurrency Exchange platform in Europe by 2020 – to accomplish that, we are aware that we must actively build a flourishing community of Crypto-enthusiasts around the world.
We look forward to leading the crypto revolution alongside you. You can join us by participating in our public sale that opens on September 27th!
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RRChain Evaluation Report

Horus Capital is a private equity fund management platform, which is based in China, facing the world and investing in the cultivation of great enterprises. It directly manages and participates in the management of funds with a scale of over 10 billion yuan as the most dynamic and leading professional equity investment fund management institution in China, among which many funds have been approved by the National Guide Fund.
Horus Capital is deeply cultivating the most promising emerging industries, with value investment as the sole concept, and optimizing the selection of optional projects. At present, it has invested in nearly 100 companies, and has achieved excellent fund performance and established a fund brand.
Horus Capital has grown into a first-class domestic fund with a forward-looking judgment on the industry and excellent investment performance. At the same time, Horus Capital has also invested in the potential high-quality projects of Blockchain, and the RRChain project is one of them. Horus Capital conducts in-depth evaluation of the RRChain project for investors’ reference, which is based on governance, economy, team, business model, Technology, and Community.
Project summary
The RRC project has been committed to building a decentralized global computing trading platform that makes the most use of the unused computing power of personal computers.
Project evaluation
The RRC project is committed to building a decentralized global computing trading platform. The management team is mainly from well-known enterprises such as Alibaba and Founder. It has certain development experience in blockchain and software. At the same time, it has good operational capabilities. The project intends to establish a decentralized global computing trading platform, which is expected to provide cost-effective computing resources for cloud computing demanders. It uses the user’s idle resources to create value. The public chain ecosystem based on the POW mechanism will maintain a stable computing power network, which will make it possible to provide a more cost-effective solution for the computing demanders. Compared with the traditional cloud computing service, RRC is simple and easy to use. It reduces the threshold and usage of cloud computing services, which is propitious to popularize cloud computing. At the same time, the imagination space of the RRC-built computing transaction scene is also very large with the potential of the cloud computing market and strong computing power. Because it can provide a stable, low-cost computing power, and has a greater possibility of landing. The future “global computer” RRC will build a distributed computing network with autonomous public chain by making full use of distributed technology, which is expected to make it become the world’s largest distributed supercomputing network and computing power supermarket.
The project has received numerous institutional investments currently, and the founder of FBS capital Shen Bo participated in the project as a consultant and investor.
Business background
The current global computing market is monopolized by giants such as Amazon, Google, Microsoft, and Baidu, Alibaba, Tencent (normally referred as “BAT” in China). Subject to closed networks, external payment systems, and rigid operating models, now the computing market is an extremely centralized market. Those giants use their market advantages to enjoy high profits, which in turn leads to high prices for computing services. On the other hand, the global cloud computing market continues to grow under the influence of technology and price.
Public cloud market portion. Source: Gartner
According to Gartner, the cloud computing market, including IaaS, PaaS, SaaS, process services, and advertising marketing, was $219.6 billion in 2016. By 2020,the overall size is expected to reach $411.4 billion with a compound growth rate of 17% from 2016 to 2020. It has broad market prospects.
Worldwide Public Cloud Services Forecast
Under this background, if we can build a low-threshold computing power collection and distribution network to collect the computing power that Internet users waste, and use blockchain technologies to increase its commercial value and liquidity, we can attract a lot of normal netizens to participate our project, while solving the problem of monopoly situation in computing power market and reducing the cost of computing power.
2008-2016E China’s cloud computing market scale (100Million of RMB). Source: WIND, China Merchants Securities
Distributed computing is a computational science that uses idle processing power on the Internet to solve large computing problems. It is mainly used to solve interdisciplinary problems that require massive computing resources, such as GIMPS (finding the largest large Maison prime), RC-72 (password cracking) and biopathological research. Compared to a centralized supercomputer, Distributed computing gives people a cheaper and more efficient option.
At present, several projects have been attempting to develop blockchain-based distributed computing platforms. Standing out among them are Golem, iExec, SONM and etc.
Project fundamentals
The goal of RRC is to build a decentralized global computing trading platform. Connect the computer, mobile phone and other terminal devices with computing power through the P2P network, so that the application user (Demander) can rent computing power to other users (Supplier) on the network, and the rented computing power can perform some computational tasks for specific needs. Such as the application of big data analysis, artificial intelligence, image processing, game computing and many other aspects. It can make the most use of the unused computing power of personal computers.
[Evaluation] RRC project innovatively uses P2P network to connect computing devices such as computers and mobile phones, so that application users (Demanders) can rent computing power to other users (Supplier) on the network to complete specific tasks. This can make the most use of the unused computing power of personal computers. This will not only effectively expand the Internet users, but also give the actual “value” to the idle computing power through “One-click mining” and pave the way for a decentralized global computing trading platform.
Ecosystem of RRC
There are 3 types of characters in RRC ecosystem: Supplier, Demander and Developer. In the early stage of ecological establishment, the Supplier is the focus of its development, which is easy to lay a broad user base and a solid newcomer foundation. Subsequently, the Demander will be introduced into the RRC ecosystem due to price factors and appropriate promotion behavior, resulting in a clustering effect. As the ecosystem gradually matures, developers can gather around the ecosystem and become a central element of the overall ecological sustainability.
The RRC project development is also divided into three main stages:

Step 1: Build ecosystem

Establishing public chains and issuing RRTokens to collect idle computing power of global personal terminals (computers, mobile phones) by providing users with easy-to-use mining tools, which allow users to mine through browsers, clients, and etc. and get RRTokens easily.

Step 2: Create circulation environment

By using RRTokens as leverage to create the consumption circulation environment, different scenes of consumption, such as video sites, news, e-commerce and etc. can be integrated into our economic system, thus facilitating people using RRTokens to consume.

Step 3: Establish distributed computing network to increase investment value

Once global distributed computing network is constructed by gathering residual computing power of personal terminals, those power can be used to perform commercial computing tasks, which brings new commercial value to RRNC economic system.
[Evaluation] The RRC project distributes the computational requirements to the many nodes in the system,and utilizes the previous idle computing resources, which is low-threshold and easy to use. The collected powers provide decentralized computing services to enterprises or individuals through decentralized global computing trading platforms and create value based on the Token economy. Compared with traditional cloud computing services, RRC reduces the threshold and usage fees of cloud computing services, which is subversive for the development of the industry.
Strategic position
In summary, RRC realizes the aggregation of decentralized and fragmented computing power through the distributed computing implementation mechanism, and completed the construction of the closed-loop ecology of the decentralized global computing power trading platform by using the CSSP, the RRchain, the RRMR, and the CDSP.
Computing Supply-Side Platform (CSSP)

What the CSSP mainly needs to solve in terms of technology is how to scaled and standardized the distributed and fragmented computing power to make it economically valuable. The “aggregation efficiency” and the “grain size” of aggregated computing power are the two core elements of this platform.
RRChain
RRChain uses the unique consensus mechanism of blockchain technology to record the labor and labor income of suppliers. RRTokens will be used as a reward throughout the ecosystem.
Recycling Regeneration MapReduce (RRMR)

The RRMR mainly solve the dismantlement of distributed computing tasks and fine management of massive micro-computing node task distribution. RRMR also adjust the redundancy of task allocation according to the dimensionality characteristics such as area and time to ensure the balance between resource input and timeliness of tasks.
Computing Demand-Side Platform (CDSP)

The CDSP is mainly to solve the ease use of submission and deployment of computing task, and issues related to the transparency marketization of computing power trading.
[Evaluation] Although cloud computing power is not a new application field in the blockchain industry, RRC has a unique approach to show the value of decentralized computing power. It complete the ecological integrity by constructing the computing power ecology, circulation ecology, and trading ecology. The ecology has a high degree of expansion and a large imagination. This will help the project to achieve the goal of decentralized global computing trading platform, and solve the problem of transparency and marketization of computing power trading. This will not only effectively reduce the use of cloud computing services, but also help speed up the landing speed and bring positive development to the industry.
Competitor analysis

In contrast, Golem is its main competitor which is similar to the RRC model. Golem uses the first-mover advantage to establish a certain position in the market, which intend to establish a decentralized computing network market based on the Ethereum blockchain, and has strong community consensus and technical strength. However, Golem did not consider the problem of anti-mining machines in the design. A mining machine may affect the income of hundreds of ordinary contributors, which will bring serious adverse effects to platform ecology. RRCHAIN designed technically the original sandwich algorithm and carousel algorithm (set) to fight against the mining machine, ensuring that the entire ecological participants are equal and can operate fairly and orderly. This effective improvement will mean that RRHCAIN has more capabilities to achieve landing technically.
[Evaluation] We believe that RRC clearly solves the pain points of the scene and can provide stable computing power and reduce use-cost to some extent. Although there are competitors in the same direction, such as Golem, which have good community and team. But it mainly solves the CGI rendering problem, which is different from the direction of RRC. In addition, RRC’s anti-mineral machine improvement has also established its own unique competitive advantage. Based on the positioning of “decentralized global computing power trading platform with independent public chain”, it can bring new meaning to the potential cloud computing market. The extendable ecological design will help the project to solve the fairness and efficiency problems as much as possible.
Technical solutions
Distributed computing implementation mechanism: through CSSP, we collect the computing power of massive unreliable computing nodes. When the CDSP obtains the task, it can decompose it into extremely small computing units through the RRMR system and distribute them to each computing node. After the computing node finish the task, it will submit the result to RRMR for redundancy check, and the top n% of the computing nodes that submitted the correct result will be rewarded.
Proof of Contribution (POC) mechanism: all nodes that access the RRMR will implement two types of calculations: Hash and Task. For this purpose, we design a POC mechanism to solve the problem of measuring the contribution of a single computing node. In this POC mechanism, proportion of Hash and Task can be set in one single calculation task and the Hash can be randomly distributed throughout it. Computing nodes must complete all hash calculations and verify them with other nodes in the blockchain before they can measure the task contribution based on the time share of the two parts of the task, i.e., (Task calculation time / Hash calculation time) * Hash calculation return = Return of the entire calculation task.
Anti-mining machine: the mining machine is currently the biggest obstacle to the various POW-based public chains. Especially for the ecosystem of RRCHAIN, the appearance of a mining machine may affect the income of hundreds of ordinary power contributors. Therefore, RRCHAIN has technically designed sandwich algorithms and carousel algorithms (sets) to combat mining machines.
Sandwich algorithm: RRHASH can transform almost any algorithm on a CPU into a hash algorithm through a sandwich structure: First we use a standard hash function H to expand the nonce and seed to get a large number of random numbers input I, defined as I = H (nonce, seed). Then we use the algorithm A that the CPU excels at to process the random number input I to get some output O, defined as O=A(I). Then we use another hash function h to calculate the hash value of these outputs, resulting in h(O), and we judge whether the difficulty requirement is satisfied by counting the number of leading zeros. Sandwich structure of this kind has been proven effective by ZCash. What we only need to do is to modify the general birthday paradox issue in the middle part to other algorithms that the CPU is excelled at. Because there is a standard hash algorithm to confirm the result, h(A(H(nonce, seed))) which is difficult to collide, can satisfy the avalanche and irreversible characteristics of hash function, thus being a qualified hash function.
Rotation algorithm set: even with a sandwich structure, any single algorithm can always be exploited by its own unique features to achieve significant optimization by customizing and tailoring the CPU. Therefore, only all the various CPU-adapted algorithms in the history of computer development have been introduced into the algorithm set as much as possible, and each person needs to use different algorithms according to each block. In this way, we can use the original CPU to mine tightly and honestly.
[Evaluation]Through the adoption of distributed computing implementation mechanism, Proof of Contribution (POC) mechanism, sandwich algorithm, rotation algorithm set and other technical solutions, RRC effectively solved the key problems in the process of constructing the decentralized global computing power trading platform, and reached the goal of no mining machine. This will enable the established CSSP, RR chain, RRMR, and CDSP to operate orderly, effectively ensuring the overall ecological fairness. In the current cloud computing transaction scenario, the project has a huge imagination, and we give an excellent evaluation.
Project team and consultant
Executive members of RRC team have more than 10 years of experience in average working in Internet.
Liu Shuang, Founder &CEO – has 14 years of experience in the digital marketing industry in China. Has been responsible for displaying advertising products for Alibaba Group since 2008, and has established well-known advertising product systems in various industries such as diamond exhibition and TANX, bringing more than 10 billion yuan in annual revenue to Alibaba Group. After leaving Alibaba Group, he joined WPP Group, established the first company based on e-commerce and advertising in the 4A system, called KUVERA, and became the CEO.
Wang Qiang, Chief engineer of the chain – served as a senior engineer for device-driven of Founder’s Electronic Graphics Division,and was responsible for multi-platform driver for Konica Minolta-related devices.. he chief architect of a blockchain project is responsible for the creation, development, and maintenance of the chain. Years of work experience in encryption algorithms and security systems.
Wang Xin, Chief of Product and Marketing – over 10 years of product design and marketing experience. Used to be the director of product and marketing of Intercom and Youyi Interactive, and now he is the general manager of Behe Adtech. Leading the design of China’s first programmatic marketing system.
At the same time, the team also has more than 20 product technology experts from traditional Internet companies such as 360 and Sina. They are combined into a complex technical team with algorithm experts from Bitland.
It is worth noting that the RRC project Consultant including Shen Bo(FBS capital), Yuan Wei(executive director of Shuimu Tsinghua TBC), Li Zongcheng(Co-founder of Timestamp Capital), Liu Junfeng(the founder of the Behe Adtech) and Dai Jun(Worked as senior engineer of Sina Weibo platform).
Among them, Shen Bo had a good investment experience in the blockchain field; Li Zongcheng joined Babbitt as CFO in 2017; They all have rich industry resources in the blockchain field. Yuan Ye has many years of asset management experience in the secondary market; Liu Junfeng has 14 years of continuous entrepreneurial experience; Dai Jun specializes in digital marketing systems, they can provide effective professional support and resource support for the RRC project.
[Evaluation] We believe that the RRC team has certain development experience in blockchain and software. At the same time, it has good operational capabilities. The project consultant team is involved in a wide range of fields and provides consulting services in the professional field. They are powerful enough to support the project.
Main Investment
RRC has obtained investment from more than three top investment institutions in the Blockchain industry, such as FBS capital and Horus Capital, and three traditional VCs such as Inno Angel Fund.
[Evaluation]These investment institutions are among the top institutions with high reputation in the industry. In the past, they have many successful investment cases with a good reputation in the industry. The project has a good investment background endorsement.
The popularity of domestic and overseas communities
We mainly judge the popularity through the official social channels of the project, such as the telegraph group and the number of WeChat groups, as well as the fans of Twitter and Facebook.
The RRC project community is concentrated in Chinese, English and Korea. The official Chinese telegraph group is about 30,000 and the English telegraph group has more than 10,000. There are more than 3,000 official communities in the Chinese region, and the Korean community has also established an active community of more than a 1,000 people in a short period.
[Evaluation] We are rated as high on the popularity of the project at the current stage.
Community Governance and Fund Supervision
The total number of RRTokens is 1.8 billion. It will release gradually, based on a total amount, each reward is based on the total amount minus an algorithm that has already been issued. The difficulty adjustment algorithm uses BCH’s DAA algorithm. The DAA algorithm is designed to avoid sudden difficulty reductions and spikes. For example, when the RRC computing power changes exponentially, the network will quickly adjust the difficulty and also avoid feedback oscillations.
RRchain token distribution
Early in the project, users can mine in a variety of ways, such as browsers and clients, to quickly hold RRToken. Since then, By using RRTokens as leverage to create the consumption circulation environment, different scenes of consumption, such as video sites, news, e-commerce and etc. can be integrated into our economic system, thus facilitating people using RRTokens to consume. Finally, Once global distributed computing network is constructed by gathering residual computing power of personal terminals, those power can be used to perform commercial computing tasks, which brings new commercial value to RRC economic system.
At the same time, RRChain also gave the proportion of the capital budget, and each module is equipped with more detailed rules and plans.
RRChain token budget and use
There are many ecosystem application scenarios built in RRC, 30% of the coins are used for mining rewards, and 15% of the coins are used for community operations. This is beneficial to mobilize the enthusiasm of community users to contribute,thus improving the efficiency of the entire system. Token has a deep circulation value.
Referring to the white paper and the official website, the project side also gave the supervision system of the foundation structure. The financial budget and expenditures are supervised by the Foundation Finance Department and published monthly. Combined with the RRCHAIN organizational structure, it can be assessed as an internal regulation.
Foundation structure
[Evaluation] We believe that RRC has relatively reasonable internal supervision. At the same time, we believe that the RRC token appreciation logic is reasonable, and the effect will mainly depend on the integration strength and quality of the RRC’s idle computing power of the personal computing terminal, and the health of the foundation. In summary, We are rated as good on the RRC governance structure system.
Others
Performance ability
RRC RoadMap
In the project roadmap planning, RRC public chain has been developed currently, the public use of chain Beta1 has been released for use. From August 2018 to the end of the year, various versions of the test will be carried out. During this period, the RRC will split the capabilities of the anti-mining machine and algorithm rotation into one version and send it to the market. In December 2018, the public chain plan will be officially launched, and the mapping of Ethereum to RRChain was completed.
Code update quality:
RRC’s main chain code library on Github is here. The RRC team announced the Github address on August 20. By reference, RRC updated weekly frequency of 1-2 times since June 28th. According to the code base quality assessment, RRC has a good code update frequency, and gradually upgrade in July and August, and has a certain proportion of new demand submissions, and the update quality is rated as excellent.
Exchange support:
According to statistics, the current support for RRC transactions is the Bit-Z exchange. According to the team roadmap, a topping exchange will be launched in August, but due to the current downturn in the market, online time may be delayed. Although there are not many exchanges, according to the team, there are a lot of topping exchanges discussing the issue of the currency with it, so we rated it as medium .
Market value stability:

Regardless of the exchange rate with the US dollar or the exchange rate with the BTC, during the two months from June 26th to August 24th, the overall price of RRC is relatively stable, with a small fluctuation during the period, but the overall trend is consistent with the broader market and keep steady. In summary, we believe that RRC has certain value attributes, and the current market value is seriously underestimated. After the market recovers, it will have better performance and the overall valuation will rise rapidly.
Evaluation review
In the governance, the RRC project has a good design and stable operation; In the economy, the circulation of its tokens in the ecology is indispensable , and the Token mechanism is reasonable and serves the Token economy to create value; In the team, it is worthy of recognition, with rich blockchain development and software development experience and strong operational and compliance capabilities; In the Business Model, it also proposes a three-step concept, with reasonable route planning and practical assumptions; In technology, it effectively guarantees the fairness of RRCHAIN by using innovative POC mechanisms, sandwich algorithms and carousel algorithms (sets) to fight against mining machines; In the Community dimension, it has a popular, high-volume, high-quality community configuration at home and abroad, which provides sufficient community consensus support for the sustained development of the project. The above positive performances proves that RRC is a potential project and deserves our attentions.
RRC has a large structure, and the entry point for constructing a decentralized global computing power trading platform is reasonable, and it has a certain industry resource base. The team has experience in blockchain projects and is steadily conducting in promotion and operation. Overall, the project performance is good, the code update frequency is stable, the project landing feasibility is high, and the token value support is relatively strong. Although the project is currently undervalued, the future prospect is expected.
The shortcoming is that the white paper’s information disclosure of the token allocation and governance institution system is slightly insufficient, and if the project ecological construction needs to achieve the expected results, it needs to invest more at the operational and market levels. It is vital to do a good job of node layout in the future. In addition, there are already traditional giants such as Amazon and early projects such as Golem in the industry. Under the overall downturn of the market, the project needs to adhere to its uniqueness and make continuous landing planning under realistic pressure.
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Switzerland’s Cryptocurrency Association Opens More Positions For Female Leaders

The Swiss Crypto Valley Association has announced its decision to increase the number of women in the board. The primary aim of this move is to change the male dominance norm, by giving women similar roles to those of the already existing male members, including co-chairing the group. The Crypto Valley Association (CVA) also stated that the women’s election would strengthen the association by introducing new skills, and diversity of perspectives.
This decision comes after the June elections where five available posts were filled by men. However, the board has now been expanded to seven members and has already attracted 43 nominations. The sheer scale of applications received has been pleasantly received while at the same time posing a threat of how the elections will be conducted with so many aspirants. The vote is set for September 20.
As noted by CVA, the elected women will represent the Zugs Crypto valley and CVA at external events while still supporting local initiatives. Leanne Abapo Senn, a diversity task force member at the Swiss Crypto Valley association, said:
our wish is to create a space which is suitable to everyone, rather than soldiering on with the old boys club together with their cronies. Our main aim is to include more women in the crypto valley association and thus create a stronger and inclusive ecosystem.
Abapo Senn also hinted that the June’s election was characterized with opaqueness, complaining that the nomination procedure was not advertised clearly:
Since all CVA members have an active social media life, it would have been better if more publicity was given to the process. It would have been more successful.
Crypto Valley Association is not one of the mere debating societies as it carries real and economic clouts in the country. Founded in 2017, the Swiss association now boasts of more than 1000 members representing consultants, legal experts, companies and incubators form crypto space and the blockchain industry. Numerous journalists are also involved in the association with the aim of expressing their economic and political voice in one of the crypto friendly nations in Europe- Switzerland. It promotes the blockchain technology internationally, thus has its self-regulatory measures and a code of conduct.
Women In Blockchain Technology
Women are slowly getting more positions in significant blockchain technology positions. Last month, Randi Zuckerberg, sister of popular social media founder, Mark Zuckerberg, joined the Huobi Pro blockchain ecosystem.

However, A recent research done by eToro shows that a gender gap still exists in the cryptocurrency sector. The study found out only 8.5 percent of the cryptocurrency users are female while 91.5 percent population was dominated by the male. Later, another report indicated that the people of women expressing their interest in cryptocurrency investments had risen to 13%. The study, which was carried out by the UK London Block Exchange; shows that one in every five women desire to join the blockchain industry, unlike before. Agnes de Roeyer, a senior business analyst at the London Block Exchange, firmly believes that the trend will soon change.
The cryptocurrency and blockchain industry is based on transparency, teamwork, and innovation. Changing the gender equality of team members is a great way of bringing more ideas to the table. Hopefully, other organizations will follow the new trend.
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Coinbase CEO, Brian Armstrong: Millions will use Cryptocurrencies

In 2008 the concept of cryptocurrencies was unknown to 99.9% of the population of the world. Who knows if even Satoshi Nakamoto knew how fast cryptocurrencies would popularize. In 2013, there were a small bunch of people who managed to make a fortune from Bitcoin. So moving forward to 2018, the crypto ecosystem has around 40 million people. Is it possible for that eco system to increase from 40 million to 1 billion in 5 years? A TechCrunch report from last Friday, says that the Coinbase CEO Brian Armstrong belives so.
Brian Armstrong thinks that digital currencies will grow substantially, while attributing growth to commercial organizations with their own tokens. These tokens would reportedly function along with equity as a sort of alternative investment system. On the future token system, Brian Armstrong explained that:
“It will make sense for any company, which has a cap table to have their own token. Every single open source project, charity or any new type of decentralized app or organization, they will all have their own tokens.”
One of the more important issues, which is widely discussed is regulation. This is one of the key factors for the implementation of his vision. Brian Armstrong refers to it as one “big open question” and notes that it remains to be seen if the majority of tokens will be recognized as securities. He added that Coinbase feels a “substantial subset of the tokens, will be securities.”
Armstrong also expressed his desire for Coinbase to increase its token hosting. He noted that currently, the exchange hosts “hundreds” of tokens and that number can potentially reach “millions” in the not so distant future. Earlier this year, Coinbase announced their plans to operate a regulated broker-dealer.
The exchange acquired securities dealer Keystone Capital Corp, Venovate Marketplace Inc and Digital Wealth LLC. These acquisitions will help the exchange in its expansion towards non-crypto-related financial products.
A more recent announcement from Coinbase informed of the exchange’s decision to open trading for 4 additional cryptocurrencies for the United Kingdom pound sterling (GBP). Coinbase’s customers in the United Kingdom will now be able to trade Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH) for GPB, in addition to the already existing Bitcoin (BTC).
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