Category: TRON

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TRON donated $3million to Binance Charity Foundation

Categories Binance, TRON, United Nations, Donations

TRON donated $3million to Binance Charity Foundation

On September 25th, 2018, the world’s largest cryptocurrency exchange, Binance initiated the Blockchain Charity Foundation. The premise of the foundation is to raise money to put towards developing blockchain technology for social good. The exchange also announced a collaborative partnership with the United Nations Development Programme (UNDP) and made an initial donation of $1 million.

Developing sustainable solutions

When the announcement was made, CEO of TRON, Justin Sun extended his support to UNDP and BCF and he reiterated that TRON will play an important role in using blockchain to develop charitable and sustainable development solutions. TRON (TRX) has said that they will donate an initial $3 million to BCF which will be used for the advancement of charity-based blockchain efforts.

Both Justin Sun and Changpeng Zhao attended the World Investment Forum that was hosted by The United Nations Conference on Trade and Development on the 24th of October. This event was followed by a reception at the Palais des Nations. It is the first time a blockchain-related discussion took place and was hosted by the UN.

As a country, Malta has truly embraced cryptocurrencies and the blockchain industry as a whole. Between October 3-5, the island hosted to the very first Delta Summit which brought together stakeholders from a range of blockchain, tech, and crypto industries, to talk about the development of the sector. After the event, Tron, Binance and BCF took part in a private reception which was hosted by Malta President Marie-Louise Coleiro Preca, at San Anton Palace in Hal-Balzan. During the event, the conversation between Sun and Zhao was continued and developed upon in the hope that the technology can help to resolve current issues facing those operating in the charitable sector.

Blockchain offers unparalleled levels of accountability, immutability, and transparency, and it can also run multiple complicated programmes at the same time. This means that problems such as not being able to trace donations can be solved by bringing together donors, volunteers, recipients, and organisations in one cohesive ecosystem.

Justin Sun spoke of his dedication and appreciation towards the cause:

“As a Super Representative, I am fortunate enough to have earned the trust of the community. I believe it is my responsibility to lead the movement in applying blockchain technology to improve people’s livelihoods around the world. I will dedicate the resources I have gained from co-governing the network to causes that will benefit and empower society. I hope my actions will inspire more people to tap into the great potential of blockchain technology to truly make a positive impact.”

Binance also announced that it will be donating 100% of its listing fees to the BCF. Helen Hai, the head of BCF said the following:

“We firmly believe that blockchain technology will bring transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways.”

Her comment was complimented by Haoliang Xu, the Assistant Secretary General of the United Nations and Director of the Regional Bureau for Asia and Pacific at the UNDP:

“We believe blockchain is a technology that can have a huge impact in the developing world in numerous ways.”

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TRON burns over half a billion tokens and moves to Malta!

Categories Blockchain, Cryptocurrency, Malta, Technology, Trading, Ethereum, Exchanges, DLT, Projects, TRON

TRON burns over half a billion tokens and moves to Malta!

At the last week of August TRON gained a good momentum obtaining almost half a billion of its old tokens that ran on the Ethereum network. They also celebrated their new wallet being launched on the iOS Apple Store.

TRX has built a name for itself as one of the most well-known cryptocurrencies and due to its success, it finally left the Ethereum network and set out on its own. To celebrate its disconnection from Ethereum, TRON has burnt four rounds of old, obsolete tokens as they have been replaced with tokens that are compliant with the new blockchain.

This latest round of burning was done at the same time that the TronWallet was launched in the iOS Apple Store after considerable work to gain the Apple seal of approval.

During the month of August, developments have been a nail-biter with the App Store issues and multiple bugs creeping up as a part of normal development of a feature that is almost entirely rewriting the foundations of the app. But with the help of the always helpful, strong Brazilian coffee and hard work, TRON team pulled through and they are ready to complete their most ambitious release yet.

Some of the features of the new app include:

  • Fully decentralised P2P wallet with no login or signup required
  • Local secret encryption and PIN
  • All Tron network operations supported except ‘create tokens’
  • Create multiple accounts and store contacts in one address book
  • Push notifications once transactions are processed
  • Open source privacy with private keys belonging to  the user only

The programme is backed by Tron’s accelerator as well as being developed by Getty/IO Inc; a front-end development firm that specialises in AWS, blockchain, and Javascript.

Recently, TRON shifted their operations to Malta, joining other established corporations also dealing with blockchain and cryptocurrencies. Due to Malta’s positive stance on the DLT sector, Malta will surely embark its sails to welcome all companies to set up shop on the island.

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TRON launches MainNet, TRX tokens used to vote

Categories Blockchain, Ethereum, TRON, Platform, Proof-of-Stake

TRON launches MainNet, TRX tokens used to vote

Tron (TRX) is steadily becoming a force to be reckoned with in the cryptocurrency market. The blockchain platform aims at becoming the largest decentralized open-source protocol in the crypto space. The launch of the mainnet mid this year put Tron at the forefront of competition.

TRX is the 11th largest cryptocurrency in terms of its market cap and its so-called ‘independence day’ was celebrated on June 25th. Justin Sun, founder and CEO announced the day with a tweet inviting all to be a part of a “free, decentralised internet”.

The aim of the TRON network is to offer a fully functional, public blockchain that supports the creation and distribution of decentralised Apps. They also aim to give Ethereum a run for their money as their Odyssey release uses a Delegated Proof-of-Stake (PoS) consensus algorithm and relies on 27 block validators (Super Representatives) to produce blocks and verify transactions.

In addition to this, an official blog post added that a massive coin burn will take place to celebrate independence – a total of 1,000,000,000 TRX which at the time of writing is worth an impressive $50 million.

The celebrations of the 25th feast the migration of TRON away from the Ethereum blockchain which originally supported its ERC-20 compliant token. During the live activation of Odyssey, Justin Sun explained that the migration process is still a few days away from completion. Sun also added that the project has been able to complete the token swap for 1/3 of the crypto exchanges that are supporting the migration. This means that users are able to safely withdraw their tokens as soon as the remaining exchanges follow suit. The next step is to elect the Super Representatives in a phase that has been dubbed as the “Genesis Phase”.

Voting for SR’s started on the 26th of June and these individuals played a major role in the future functioning of the network as well as its development. Sun described it as “the ultimate phase of an independent Tron”. The elections took place over five days as those that voted need time to get their hands on their MainNet tokens. These SR’s were wholly responsible for verifying transactions as well as producing blocks.

The network’s daily transaction volume recently surpassed that of Ethereum platform. Tron clocked 599,354 transactions on October 18 while Ethereum recorded 565,791. The Tron explorer also sent a tweet detailing that 77% of all the transactions were smart contract-based. This positive indication is likely due to the recently launched TRONbet. The new platform allows users to earn TRX while playing, besides the founder Justin Sun said that 70 million TRX had already been given to winners.

 

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