Tron (TRX) Ranked 2nd in China’s Latest Blockchain Rankings
’s Ministry of Industry and Information Technology through its Center for Information and Industry Development (CCID), its 10th monthly crypto project rankings this past Tuesday, February 26th. A total of 35 projects were evaluated by the CCID this month of which , (TRX) and (ETH) made the top three respectively. For , this was the first time the project was ranked on the list by the CCID.
All projects are judged using three criteria: basic-technology, applicability and creativity. Individual scores in each category are then added in a weighted ‘total index’ that is used to rank the projects.
Tron’s Mainnet Upgrade to Version 3.5 Happening Today
Earlier today, Justin Sun reminded the community that to version 3.5 today the 28th of February. (The upgrade should happen in the next 2 – 3 hours.)
The network upgrade plans on implementing the following 4 changes.
Addition of multi-signature features and account management
Dynamic energy adjustment to real-time network performance
50% up performance and res usage
Better Virtual Machine safety
Upgrade is Tailor-Made for BitGo’s Institutional Clients
Of particular importance is the addition of multi-signature and account management features on the network. This additional changes will fit right in with the services provided by ’s newest partner, BitGo. The latter is a leader in digital asset security, compliance and custody solutions that are focused on catering for the needs of Institutional clients. is the largest processor with over $15 Billion in crypto transactions per month. The firm also has over 300 clients in over 50 countries worldwide.
It is with this background that that it will be adding TRX support later this year. This then prompted the foundation multi-signature and account management features on the network.
What are your thoughts on making its debut at number 2 on the CCID’s rankings? Does this mean that is better than its competitors such as and NEO? Please let us know in the comment section below.
[Feature image courtesy of BitGo.com]
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of World News or any of its other writers. Please carry out your own research before investing in any of the numerous available. Thank you.
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Set to Launch on March 22nd, In Time for the IRS Reporting Deadline
[Note: This is a press release]
New York, NY – March 22, 2017 – , one of the world’s largest blockchain infrastructure hosting services, has built a game-changing software product that allows every single American to properly report their digital currency gains to the taxman. Node40 Balance, available for Dash users today and bitcoin users later this year, is setting a completely new standard in precision and simplicity because it calculates net gains and losses for every single transaction made throughout the calendar year, and rolls it all into the IRS approved Form 8949 with attachable worksheets for the user; an industry breakthrough given the First In First Out (FIFO) method currently used by competitors often causes gross misreporting. Node40 Balance, two years in the making, has been under comprehensive beta testing using real-world use cases. The product has been anticipated by high frequency Dash traders, miners, accountants, lawyers and tax professionals.
Node40 CEO Perry Woodin explains:
Node40 Balance is a feature packed blockchain accounting service that brings the familiarity of services like QuickBooks or TurboTax to the world of digital currency. Node40 Balance analyzes the blockchain and provides valuation data for all of your transactions. You annotate your transactions according to your real-world needs and Node40 Balance provides reports with your gains, losses, and income. What makes Node40 Balance unique is the precision in which gains and losses are calculated. A simple FIFO strategy is not sufficient for dealing with digital currency transactions. Node40 Balance uses the true carrying cost and days held to calculate precise valuations that ensure you are not over-reporting your tax liability.
The need for innovation like this is vast for two simple reasons. Firstly, government direction for tax reporting digital currency has been ambiguous at best, given that the IRS policy for digital currency users was last updated in 2014. Although it is clear that digital currency is taxed as a property, most people are unsure how to properly calculate gains, losses, and income from incredibly small fractions of a currency with different valuations and different days held. Secondly, current means of tax reporting are categorically flawed; people currently self report without taking minute-by-minute price fluctuations into consideration, or use existing software that favors aesthetics over accuracy.
Discussing the need for a product like Node40 Balance, Woodin says:
The burden of calculating tax liability falls completely on the user. Most people do one of two things; use software that does not calculate the level of accuracy that we required, or go to accountants who will apply a very simple FIFO strategy to determine gains or losses, which we know to be incorrect. This strategy works well for traditional investments where you are selling whole units, but it is not a good strategy for digital currency. When transacting in digital currency, most transactions will have multiple inputs, each with a different cost basis. Unless you are able to create an exact transaction, the cost basis of the change needs to be tracked along with the amount of days carried. Users of Dash and bitcoin, both experiencing meteoric rises this year, have genuinely been crying out for a product like this for a long time. We anticipate significant demand.
is a Software as a Service (SaaS) available for purchase by subscription at one, three, and twelve month durations, as well as a free trial period. The product caters to every demographic because individuals, small business, large corporations and government departments meet their tax reporting obligations at varying times of the year.
Woodin goes on to state:
As a company that accepts digital currency as payment for service, we do not want to over or under pay our tax liability, nor let our customers do so either. In business and in life, every penny counts. If you aren’t accurately calculating your gains, losses, and income, you could end up leaving money on the table. We want this to become an indispensable tool for every digital currency user across America.
is one of the leading server hosting providers for the Dash network. In the now popular world of distributed Peer-to-Peer (P2P) decentralized blockchain applications, stability is of paramount importance. Node40 was founded to encourage participation in and add value to P2P networks like Dash by hosting an incentivized node yielding monthly rewards. Founded by CEO Perry Woodin and CTO Sean Ryan in 2015, Node40 is based in Albany, New York. Node40 are the creators of Node40 Balance, a revolutionary new SaaS product making cryptocurrency tax reporting much easier, and much more accurate.
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