Tag: Tron (TRX)

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Crypto News

Tron (TRX) Moves From PoS To DPoS – Here Is Why!

Tron (TRX) tweeted a message on the official Twitter page on August 11th, citing the distinctions that exist between the Proof of Stake (PoS) and the Delegated Proof of Stake (DPoS) protocols.

The Proof of Stake (PoS)

The PoS protocol is where the miners place some of their coins in a specific block to authenticate a transaction. The block then picks them out according to an algorithm of how much time or how many coins the miner possesses. Once chosen, the miner checks the transaction.

The likelihood that a miner will be directly elected is dependent on the number of coins he is wagering. The Proof of Stake protocol held a significant edge over Proof of Work in reducing power consumption and system tension and promoting for faster transactions.

The Delegated Proof of Stake (DPoS)

On the other hand, the DPoS is an accurate and more useful interpretation of the PoS protocol. The employment of a permanent voting system and a system of reputation to reach consensus are two of the main characteristics of the Delegated Proof of Stake.

Community representatives vote for their Super-Representatives who subsequently authenticate the transactions to earn a reward.

Why Tron (TRX) moved from PoS to DPoS?

There are many reasons why Tron (TRX) changed its running protocol from a PoS to a DPoS. The main reason for the shift is that community members have more power within a DPoS protocol, and can even govern the network.

Additionally, in a DPoS platform, there are virtually zero risks of fraudulent activities, as the community members are the ones who authenticate a transaction before it happens. This method is opposed to the PoS protocol where an illegal activity or a threat can only be discovered after it happens.

Besides, Tron (TRX) moved from PoS to DPoS to reduce costs and electric consumption, but also to give more power to investors who can now decide who becomes Super-Representatives.

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Crypto News

Tron (TRX) Is Proud To Present Peiwo APP’s Candidacy For The Tron Super Representative Elections

Justin Sun, the CEO and founder of Tron Foundation and Tron (TRX), informed yesterday, on August 2nd, that the Peiwo APP, the leading voice content community in China, will be a candidate for the Tron Super Representative role. With 10 million enrolled users and 1 million monthly active members, Peiwo APP is becoming the largest DApps on the Tron network.

Peiwo APP, the largest voice content community in China and the world, will run for Tron Super Representative position. With 10 million registered users and 1 million active users per month, it will be one of the biggest DApps on TRON. We welcome other companies to join us.

Justin Sun

The Tron Foundation has indicated that there are more than 62 candidates for the Super Representative role, with BitTorrent as the last addition. BitTorrent joined the Tron community thanks to the fact it showed the same “inclusiveness and openness” shared by the Tron, as a decentralized and autonomous community.

Chinese Peiwo APP will candidate for the Tron (TRX) Super Representative elections

As Super Representatives, the participants will assume a significant responsibility in the future leadership structure of the Tron Foundation and, most importantly, will be representing the people of the Tron (TRX) community.

Besides, as reported, the Super Representative will function as a “guardian” of the Tron (TRX) network and will participate in the supervision and verification of the network protocols.

Blockchain games will become the first entry point of the blockchain opportunity. TRON Network’s high TPS and 0 handling fee will be very conducive to the development of blockchain games. After thoughtful consideration, Peiwo and Zempty Studio decided to join TRON Network. Not only are we going to participate in the game development, we are going to run for Super Representative.

Peiwo APP

In mid-February 2018, the Tron Foundation officially declared the successful merger of Tron (TRX) and Peiwo APP. The principal members of the Peiwo APP are aged 16 to 25 and are primarily living in the big cities of China like Beijing, Shanghai, Guangzhou, and Shenzen. The rest of the users reside in North America and Western Europe.

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News Tech

Tron (TRX) to Exchange Test Deposits

It’s a known fact that the new TRX withdrawals are coming slowly and cautiously, but the principal exchanges are beginning to put their wallets to test for the new benefit.

Is TRON actually safe?

Everyone thinks that the TRON (or TRX) network is stable and safe and there are some people who are putting it to the test when it comes to the deposits or withdrawals. But to be fair, the process is going slow and it’s been said that there are some indications that people often confuse the two sets of addresses. It’s good to keep in mind that the TRX digital asset, the one that existed on the Ethereum network, is not well-matched with the new tokens from the Tron’s mainnet.

A message has circulated, saying that the TRON mainnet upgrade was completed. It also said that deposit service would be available from the date of 4th of July, at 6 PM (GMT+8). However, the withdrawal service was disabled. They asked their readers to sit tight and wait for the next updates.

Thanks to OKEx, deposits and withdrawals were resumed

Good news is that OKEx resumed the deposits and withdrawals for the new network. However, Binance postponed the TRX deposit and withdrawal services, after they’ve encountered issues when it came to rogue trades in some coins, such as Syscoin (SYS).

People have started to notice that the movement of the TRX coins has been slow for a few days, with only a few transactions. When talking about the present, the transactions have increased to thousands per day, but it cannot be really compared with the activity from the Ethereum network. But the activity is expected to increase, now that we can have a discussion about the use cases for TRX and the inclusion of spread apps.

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Crypto News

Tron (TRX) Price Starts Moving Up After Weeks of Stagnation

Tron (TRX) has stagnated around the $0.035 mark for a long period of time, but things are finally changing. Tron (TRX)is currently priced at $0.39 which shows a 4.30% increase in the last 24 hours. While the price spike might not be that huge, it still shows us that Tron (TRX) is on the right path. The main reason why Tron (TRX)’s price is starting to get bigger is because the share of USDT trading has been increased, up to 31%. In addition, Tron (TRX) is trading on Binance and this is expected to help the price go even higher than it already is.

Tron (TRX) No Longer Supported by Early-Adoption

One of the things that new investors who are looking to purchase TRX tokens need to take into consideration is that Tron (TRX) is no longer supported by early-adoption enthusiasm. This is not bad news by any means because it means that Tron (TRX) is seen as a “mature” asset and that it’s starting to be used for trading gains.

Tron (TRX) Mainnet

We should also mention that the Tron (TRX) mainnet launched on June 25th and this came as a surprise because the developers initially said that the mainnet will launch somewhere at the end of May. Nonetheless, reports are showing that the network can still transfer the new TRX digital asset after June 25th, but the transactions are slower than usual.

The Cryptocurrency is Trending

Despite the Tron (TRX) mainnet issue, the developers who are in charge of the cryptocurrency are saying that Tron (TRX) is trending on GoogleTrends. This means that more and more people are getting interested in Tron (TRX) and this is undoubtedly going to help drive the cryptocurrency’s price higher than ever. Maybe even hit the $1 milestone.

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Crypto News

Tron Foundation Locked Up 33.25 Billion Tron (TRX) – What Does It Means For TRX?

The huge supply of Tron (TRX) tokens has always been a hot topic for debates within the cryptocurrencies market. Prior to burning the 1 billion TRX during the Tron’s Independence Day, the total supply was 100 billion. After that event, the Tron (TRX) total supply fell to 99 billion TRX. Now, deducting the already circulating 65.75 billion TRX, it results that there is an extra of 33.25 billion TRX still under the Tron Foundation possession.

Tron announced that the remaining 33.25 Billion TRXs are now locked in about 1,000 addresses in Tron MainNet. The distribution of these funds also reduced the risk of losing all coins in case an address was attacked. The team also mentioned that while providing additional information about their identity, TRONICS members had plans to develop an interrogation tool that they could regularly verify and search for addresses in question.

33.25 billion Tron (TRX) locked – What’s the reason behind this decision?

Tron’s move was also to address the problem of procurement predictability. Crypto traders and Tron (TRX) owners are confident that there is now 65.75 billion TRX in circulation. So, the 33.25 billion TRX will remain locked until January 1st, 2020. As a result, this procurement predictability will give investors more confidence in this token.

With this step taken to increase investor confidence, and with a running Tron MainNet, the Tron (TRX) value has begun to dominate the cryptocurrencies market with the expectation that its supporters will increase in time.

As a remarkable example of such market response, there is Ripple which blocked 55 billion XRP in December last year. Within a short period of one month after this move, the price of the XRP rose from $0.22 to $3.82 with an increase of 1600%.

Apparently, Tron seems to have taken the right step regarding its TRX supply in circulation until January 1st, 2020. That will give a more stable Tron (TRX) market, while the crypto investors can invest in TRX without worrying about the supply in circulation. And so traders will not worry about a price drop due to an excessive amount of TRX in the market.

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