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Is Tron’s DApp Market Dependent on Gambling?

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Tron has made a name for itself in the crypto asset space and DApp world, although a huge portion of the protocol’s transactions rely on the gambling industry.

A hefty 17 of the top 25 most-used Tron DApps fall in the gambling category on DappRadar’s list of most popular Tron protocol-based DApps.

Top 25 lists

The eight non-gambling Tron-based DApps on the list fall in several other categories, such as High-Risk, Exchanges and a general “games” tag.

These non-gambling DApps, however, host significantly less volume than their gambling counterparts, with the exception of two other applications listed as exchanges.

In contrast, the top 25 Ethereum-based DApps counted only three gambling applications.

Tron prevalence

April 2019 showed Tron touting the most rapidly expanding group of DApp users.

Ethereum, Tron and EOS ran the show in 2019 in terms of DApp usage, taking a combined 98.65% of the total DApp transaction volume for the year, as Cointelegraph reported in January 2020.

Tron’s ecosystem posted a staggering $4.4 billion in volume in 2019, with its gambling DApps filtering approximately 89% of that money flow, DappReview said in its 2019 DApp write-up, calling Tron’s decentralized application ecosystem, “Las Vegas on the blockchain.”

Meanwhile, Tron founder Justin Sun pulled up a chair next to Apple co-founder Steve Wozniak for lunch earlier this week, tweeting about the meal after the fact on Jan. 24.

Cointelegraph reached out to Justin Sun for comment but received no answer as of press time. This article will be updated accordingly upon receipt of a response.

Source: https://cointelegraph.com/news/is-trons-dapp-market-dependent-on-gambling

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Litecoin Price Prediction: LTC/USD May Drop to $70 If the Price Breaks Below the Moving Averages

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LTC Price Prediction – February 24

Litecoin (LTC) is still trading well inside a rising channel formation, which shows that the bulls are in control.

LTC/USD Market

Key Levels:

Resistance levels: $88, $90, $92

Support levels: $66, $64, $62

LTCUSD – Daily Chart

The February 21 rebound has made LTC/USD to record a high at $80.85 after relying upon strong support at $66. Since February 15, the price of LTC has been trading below $83 due to the recent bearish surge. For this reason, the market has currently dropped by -6%, which may become more severe if we see immense selling pressure. However, the market is showing weakness but still looks bullish in the short-term.

Looking at the market structure, we can see that LTC/USD is still sitting at $75. If the price level can hold well, we may see a buyback at $78 resistance before breaking up to $80 and above. But as it stands now, the RSI (14) nosedives the bears are attempting to visit close supports once again before climbing higher to the nearest resistance at $88, $90 and $92 levels.

On the daily chart, Litecoin is caught in a rising channel pattern since the year started as the bulls gain control of the long-term market. Meanwhile, the short-term trend is still projecting a bearish outlook for the LTC market. Considering the latest price drop, the market is likely to fall at $66, $64 and $62 support levels, meeting the channel’s lower boundary.

Against Bitcoin, LTC fell lower as it breaks beneath the 7700 SAT. However, LTC/BTC is currently trading at 7663 SAT as the bulls are trying to prevent it from heading further lower. From above, the nearest level of resistance lies at 8300 SAT. Higher resistance is expected at 8500 SAT and 8700 SAT.

LTCBTC – Daily Chart

In other words, the nearest level of support lies at 7400 SAT. Beneath this, support is located at 7200 SAT and then at 7000 SAT. The trading volume has increased during the latest round of selling. The RSI (14) is poised for a bearish movement as the signal line nosedives towards the south.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Source: https://insidebitcoins.com/news/litecoin-price-prediction-ltc-usd-may-drop-to-70-if-the-price-breaks-below-the-moving-averages/251959

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Big Pharma Urges FDA to Use Blockchain for Drug Tracking

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25 leading pharmaceutical manufacturers, distributors, logistic partners, and other representatives of the pharma supply chain have published a report arguing in favor of adopting blockchain technology to track and trace prescription drugs after completing a pilot program with the US Food and Drug Administration.

During early 2019, the FDA began accepting proposals for projects seeking to assist the office meet the 2023 requirements of the Drug Supply Chain and Security Act (DSCSA) – which requires the pharmaceutical industry to track “legal changes in ownership of pharmaceuticals in the supply chain.”

In June 2019, the MediLedger Project was approved by the FDA, comprising a working group of 25 major companies operating within the pharmaceutical supply chain seeking to evaluate the blockchain-based MediLedger Network as a vehicle for tracking and tracing prescription medicines in the US.

MediLedger’s members include multinational pharmaceutical giant Pfizer, drug wholesaler AmerisourceBergen, operator of the United States’ second-largest pharmacy chain Walgreens, multinational retail corporation Walmart, and delivery services company FedEx.

US pharmaceutical supply chain could suffer without blockchain

The report states the working group believes that the absence of “a central point of data sharing” will result in the US pharmaceutical supply falling behind international competitors as companies “struggle with keeping data accurately and completely shared across a wide variety of partners, systems and technical formats.

The document warns that in the event of a significant public health crisis, “stakeholders and agents will struggle to locate and quarantine suspect product in a timely manner, continuing to put patients’ lives at stake,” adding that “using the advancements of technology like blockchain can avoid these significant risks.”

Zero-knowledge-proofs used to protect confidential information

The MediLedger report notes that data privacy requirements of the pharmaceutical industry can be upheld by maintaining zero knowledge proof technology, ensuring that no business intelligence of confidential information is shared while maintaining the immutability of the blockchain.

Despite asserting that the pilot evidenced that “blockchain has the capability to be the technology underlying an interoperable system for the pharmaceutical supply chain,” the report notes that it is “a complex solution” that would require a stabilization period.

The report also advances that the long-term success of an interoperable blockchain solution will be contingent on “strong participation and adoption from all industry stakeholders.”

Participating companies evaluate MediLedger

The MediLedger project comprised three core technologies: a private messaging system between clients by and trading partners, blockchain as an immutable, shared ledger for transaction validification and smart contract execution, and zero-knowledge to ensure robust privacy for messaging and transfers.

David Vershure, the vice president of channel and contract management at Genentech, asserts that the US pharmaceutical sector’s current point-to-point systems infrastructure is “lack[ing] the ability to keep data in-sync across the healthcare supply chain, which ultimately increases the risk of counterfeit, diverted or otherwise illegitimate products.”

The Genentech representative stated that the pilot “serves as a key milestone in demonstrating that blockchain technology is a viable option to address the complexity of building an interoperable system needed for DSCSA 2023.”

Mack MacKenzie, Pfizer’s vice president of digital market access and revenue management solutions, expressed his satisfaction with the pilot’s execution, stating: “I am very encouraged by this demonstration of broad industry commitment to an interoperable system that achieves DSCSA compliance. It is exciting to imagine how we can build on this success to jointly deliver transformative digital services that add more value for patients.”

Source: https://cointelegraph.com/news/big-pharma-urges-fda-to-use-blockchain-for-drug-tracking

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Bitcoin and other cryptocurrencies don’t need ‘catalysts’ anymore

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Decentralization has been the undying ethos of the cryptocurrency community since the inception of Bitcoin. The power of distributed consensus has been vastly understood by a substantial number of people in recent times, and creatively implemented in a plethora of different ways.

While centralization has its advantages, there are so many aspects to blockchain technology that simply wouldn’t be possible through the traditional financial infrastructure.

On a recent episode of Let’s Talk Bitcoin podcast, host Stephanie Murphy and Andreas Antonopoulos spoke about the power of decentralization on a philosophical level, citing examples from the book, ‘The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations.’

The title of the book refers to how a starfish can regrow its legs if cut off from the body, but a spider cannot, implying decentralized networks can stabilize itself after something fails, while centralized authorities depend on every leg.

According to Antonopoulos, if a cryptocurrency which has acquired the essential elements of a reserve currency fails, “all of the structure and Schelling points that have concentrated that function of the reserve currency remain,” and the cryptocurrency would be replaced by an equivalent. This has been the case for fiat currencies as well. After the United States created the dollar in 1792, the world’s reserve currency has seen dozens of iterations, all in turn replaced by the next version.

Crypto-twitter is also arguably a decentralized community, where discussions do not revolve around a single leader, but a circle of respected community members. If a member’s views are appreciated, more members listen to them. Such networks don’t create themselves out of thin air and often require what Murphy called a “catalyst,” which creates the network of distributed consensus before fading into the background — like Satoshi Nakamoto.

However, it is arguable at this point that Bitcoin and other cryptocurrencies don’t need catalysts anymore, especially considering how far the space has come over the last decade. Millions of people around the world depend on not just Bitcoin, but the whole crypto-ecosystem to run their lives and businesses.

These systems don’t just collapse.

The aforementioned group also spoke about the Apache tribe, a community that derived their leadership from decentralized consensus. In this tribe, the more a respected community member said things against the general consensus, their opinions slowly became less relevant with time. As projects become more centralized and deviate from the general consensus, the community will shut their values down.

Cryptocurrencies don’t represent an entity or a group that can be eliminated with the swipe of a magazine. They’re a collective representation of consensus and if an area fails because the public doesn’t agree with it, it’s quite likely that this starfish will just grow back another leg.

Source: https://eng.ambcrypto.com/bitcoin-and-other-cryptocurrencies-dont-need-catalysts-anymore

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