- Tron chief wants to replicate the success that TikTok brought Dogecoin
- The Great Voyager era began yesterday
- Too much negative press on TikTok
Tron News Today – Tron’s Justin Sun said he plans to focus on using the Chinese mobile app, TikTok to promote his Blockchain platform. This comes after the overwhelming success that TikTok brought to Dogecoin (DOGE). TikTok content creators have recently latched on crypto’s “clown coin” to try to push it to $1.
However, on the day Dogecoin has seen a significant retracement following its rally to the $0.0055 mark. Despite the retracement, DOGE’s performance during the last 7 days has still yielded over 140% in gains meaning the price of the coin is still at the peak position. Nevertheless, there have been concerns over TikTok. TikTok’s creators have been accused of violating privacy agreements. Surprisingly, Sun is considering such a move at a time when there’s growing concerns that TikTok is Chinese spyware.
Tron 4.0 Update Launches
The Tron 4.0 update has launched. The Great Voyager era began yesterday July 8, via a Global Release Online Conference. The event which lasted for eight hours highlighted upgrades to Tron’s ecosystem. The primary selling point of the program centered on the implementation of additional privacy features in this case putting zk-SNARKs in smart contracts. Other features discussed include quicker block confirmation times, enterprise-level customizable solutions, and cross-chain functionality.
Although TRX has moved upward steadily since mid-March, the Global Release Online Conference didn’t deliver a spike in the price of Tron. With the recent success TikTok had in promoting Dogecoin, it is easy to see why Tron’s CEO is drawn to using it to promote his offering. But, with so much negative press on TikTok, is TikTok a viable strategy for the long-term?
Is TikTok A Target Due to Anti-Chinese Sentiment?
Last week India banned 59 Chinese mobile apps, including TikTok and WeChat. Government officials claim the apps were using data illegally and secretly taking and sending information to Beijing. However, the action by India coincides with the tensions over the border in the Galwan Valley region between both countries.
In the United States, The Justice Department and the Federal Trade Commission have accused TikTok of stealing data. Investigations have begun on grounds that TikTok is violating privacy agreements. TikTok had agreed to delete user videos and personal data, but haven’t kept their end. Some of these users are kids. According to a spokesperson for TikTok, additional privacy protections have been implemented to accommodate users who are under 13 years of age. Since 60% of TikTok’s users live in the US a ban in the US could cripple the company.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
