Bitfinex Just Got Exciting with TRON (TRX) and 6 Other Tokens
[Photo: Bitfinex logo]
Bitfinex just did a game changing move by listing 7 tokens at once last evening. The tokens will be trade-able against Bitcoin (BTC), Ethereuem (ETH) and USD. The tokens are:
1. Tron (TRX)
The Vision of Tron according to Justin Sun, (the CEO of the project) is to have of a free worldwide content entertainment system, based on blockchain and with distributed storage technology. The TRON network will allow each user to freely publish, store and own data in a decentralized manner where they decide the distribution, subscription and push of content. This enables the creators of the content to have control over their digital entertainment assets in a decentralized internet.
This means no more content being decided in board rooms, but rather, the user and creator will have a marketplace to decide on what digital media content to subscribe to and pay for using the TRON token
2. RLC Token
The RLC TOken is the brainchild of the iEx.ec project held be the IEXEC Blockchain Tech company. The main goal of the company is to build the first blockchain based decentralized cloud. According to their website, the background technology of iExec has been developed by research scientists at the INRIA and CNRS institutes in the field of Desktop Grid Computing, which allows to harness thousands of distributed nodes to execute very large parallel applications.
What this means is that the network can be accessed by participants to run their applications or be the provider renting out your cloud resources. The RLC Token will serve as a means of payment in the network which will have servers, DApps and data on offer.
3. Ripio Credit Network (RCN)
RCN is a peer-to-peer credit network based on cosigned smart contracts. This means for an individual to get a line of credit for a loan, one has to be cosigned by someone else on the network using smart contracts. By doing so, this network will connect everyone to a global lending network that bypasses traditional banks and credit card companies. The lenders and borrowers will use the RLC Tokens to access the network and get regular fiat currency loans.
It might sound complicated, but it is more or less the regular lending via Banks or Credit card companies but on a blockchain platform. In the RCN Network, IDs have to be verified and credit history obtained for you to get a line of credit.
4. Augur (REP)
Now this is an interesting token by Augur. It claims to combine the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool – and the chance for real money trading profits.
My assumption is that the guys behind the token want to predict world events, politics and even sports. That way, gamblers, stock and cryptocurrency traders, can have an edge while placing their trades or bets.
Now this is a reality I want to see. It would be a step closer to travelling ahead in time.
5. AELF Token (ELF)
The elf token is the foundation of another decentralized cloud computing blockchain network. The developers claim that it has super nodes with super fast speeds. Also, each smart contract runs on its own blockchain. The project has a stellar team and advisers including the founder of TechCrunch.
6. Aid Coin (AID)
The AID Token is a unique coin for it is a token based on the act of giving and philanthropy. Since many people say that they do not trust regular Non Profits to put individual or personal donations to work, Aid Coin has come up with a blockchain solution. The AID platform is ethereum based and allows for transparent donations on blockchains. This way, any donor can demand to see where their crypto currency is going to.
I think this is super. Especially for generous individuals like myself who want to give but do not trust the large organizations claiming to help nations in need.
7. SingularDTV (SNGLS)
According to their website SNGLS is a blockchain entertainment studio laying the foundation for a decentralized entertainment industry. Building the future of rights management, project funding, and peer-to-peer distribution, SingularDTV’s platform empowers artists and creators with powerful tools to manage projects from development to distribution.
In conclusion, all these 7 ERC20 tokens have been added to Bitfinex so you can enjoy variety in trading. As a result, this will significantly boost the trading volume of Bitfinex to probably surpass that of Binance. Rumors are that Bitfinex will open a new platform specifically for ERC20 Tokens.
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