TronWeekly

Crypto World News

You are here: Home / Archives for Tron SR

Tron SR

Tron SRs voting on proposal 17, the multi-signature feature on the ranks

by

For many, Tron Super Representatives is that group doing helicopter TRX drops. That whenever you feel like increasing the TRX holdings, you vote for the best SR, seat, and watch your numbers take a hike. But what other things do Tron super representatives do?

Basically, they run the whole Tron protocol. And now, in that line of doing everything possible to make the platform the best, proposal 17 is live and being voted.

The Significance of the Proposal

It seems like Tron is playing its cards in the right direction every single day and having SRs in the first place is proving to be significant all the way. As it’s the case of carrying the platform forward, proposal 17 got initiated.

The direction of Tron protocol has to be decided, and how it evolves, it shouldn’t be an individual’s decision to make. Therefore, voting on the proposals has been the right way, at least up to now.

What the proposal entails

Early during the month, Tron CEO and founder Justin Sun pointed out that the platform was due for an upgrade. With the current ongoings within the platform, we’re already on the upgrade. Reason being, proposal 17 is about allowing the initiation of multi-signature.

The multi-signature feature will be highly essential to the high net worth investors simply because they actually use large institutions to manage their funds as well as the fact that they have a plethora of employees.

Therefore, with the multi-signature feature, it could be even easier to compartmentalize the management of the assets. The general outcome will be more institutional investors flooding the table. The fact that they have a large amount of money makes it significant for Tron as they will bring value to the network.

For now, voting is on and the proposal validity period is (as it has always been) 3 days, and it’s only wise to support the proposal by voting in favor of it. After the three days, then we’ll learn the outcome whether it received sufficient votes (18) in its favor or it will lapse.

Perhaps, some hedge funds might have asked for the feature to be introduced for them to invest in Tron, but whether that was the case or not, the answer could jump in within less than two days.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

TRON dApp Users Surge by 239% in the Last Month

by

According to recent charts tracking the dApp performance and their daily active users (DAU), TRON dApps have seen a massive increase in the number of users within the last month. On January 8th, TRON dApps had around 18,500 active users — a number which has skyrocketed to 62,724 as of February 8th.

Within a single month, TRON dApp DAU number surged by 239%, while Ethereum lost around 31% of its DAU or 4,275 users. Another big competitor in the dApp sector, EOS, has also seen growth in its DAU, although a much smaller one of only 14% (9,534 users).

Why did TRON’s DAU number grow?

TRON has been one of the most popular projects in 2018. However, it recently started attracting even more attention due to several events.

The first one is the launch of the BitTorrent token (BTT), which happened on January 28th, 2019. The token sale was held on Binance Launchpad, a platform dedicated to increasing exposure of promising projects. BTT is a part of TRON’s ecosystem, and the event has been very beneficial for TRX as well.

Another reason why TRON has seen more activity recently is also connected to BTT, and it includes a series of airdrops that will gift BTT to TRX holders. The airdrops are expected to happen on occasion throughout the next six years.

Furthermore, the largest cryptocurrency exchange in the world, Binance, decided to support TRON and BitTorrent, which brought additional attention to both projects, as well as to TRON’s entire ecosystem. So much so, in fact, that TRX managed to double its value within only 30 days, starting from December 17th, 2018. During this period, TRX price grew from $0.0127 to $0.025, with the coin’s current price being at $0.026498, according to TradingView.

Also, TRON’s dApps have been relatively popular in the crypto community ever since they appeared on its platform, most of which are gambling and gaming-oriented. As a result, the TRON ecosystem has become one of the fastest-growing ones in the crypto space, and the recent reports regarding its DAU numbers confirm it.

Image courtesy of Pixabay.

Tron SR Faces theft Cases, Alerts The Community about Voting

by

Theft cases in the crypto sphere aren’t quite new as many of these cases have caused lots of mishaps. A few hours ago, Tron Europe, a Super Representative of Tron blockchain, alerted about the theft cases within its system and advised members of its community to send their SR votes from Tron-Europe to SR-TRON-Europe.

Tron Europe made this important announcement on its official Twitter page and through a medium post. Its official Twitter post reads:

Let’s not forget that Tron Europe is one of the Tron’s Super Representatives with the goal of representing and promoting Tron in Europe and using its rewards to increase the value of TRX in the crypto market.

The renowned Super Representative stated through the medium post that there are some people with the mind for illicit and corrupt practices within its community and indicated the theft cases the community faces in which one of its team members got robbed.

The SR proclaimed it discovered the team member who was behind the robbery cases and got him removed (no surprise). The SR confirmed that their former team member was able to use the Private Key to the Tron Europe SR Wallet to obtain funds which affected the community and its proposed projects. Understandably, Tron Europe has decided to hand the matter to the law enforcement agency to take further action concerning the case.

It was also affirmed that the theft cases not only caused the loss of funds but also delayed the Rewards made for the community in the past, in which the founder of Tron Europe, Dirk Frank, had to reimburse these Rewards using his very own money to make up for the loses.

To protect its members against further theft occurrence like this, Tron Europe has announced a change to its SR account: from Tron-Europe to SR-TRON-Europe. It has also asked the loyal members to remove the SR votes casted on the old account.

Subsequently, the SR further plans to reward its members by doubling the rewards on all votes casted in the new account within the next three days. It also stated that the incentives on the old account would be put to halt in the next pay-round – which has taken place already.

Right from the time when the announcement by Tron Europe got posted, lots of reactions have risen among the members of the TronEuopre community. The thing worth noting is, the majority of the members of the community have proclaimed their long-term support and their solidarity to Tron Europe.

Consequently, it is essential for all Tron members (not just the Tron Europe community alone) to keep themselves updated on the current news and happenings occurring on Tron’s network. And, yeah, you’ve got TronWeekly ‘exactly’ for that. So, keep visiting us.

Image courtesy of Pixabay.

Tron (TRX) surpasses 7 billion SR elections votes, what does it mean?

by

Last Friday, December 7th, seven billion votes were cast in Tron’s Super Representative elections. It’s worth it to stop for a few minutes it’d take you to read this article and figure out why this is a meaningful thing.

Let’s start with the most obvious thing: these many votes mean that a lot of people have joined the Tron community and care enough about its internal organization scheme to actually take the time to cast a vote. Seven billion times.

In itself, it’s amazing because it speaks volumes about the success Tron’s had in recruiting an optimistic and caring community that is supporting the project and being bullish about the token. But there are other consequences and applications.

This huge number of votes increases the token’s price and value. Why? Because it increases scarcity. It’s on the way the voting mechanism works. To vote for a Super Representative (you can think of them as Tron’s Congress, kind of thing) you have to allow a freeze in your Tronix wallet for a given amount of time. So for every vote, there is a number of tokens that stay out of circulation for a while. That makes the Tronix token scarcer and, hence, more valuable.

According to some observers and commentators, as many as 10% of all circulating tokens are frozen because of the voting process, which is a huge number.

And there’s an additional implication. The Tron community trusts and loves the project. It’s probably the most loyal (even fanatical community) in the cryptosphere. It’s very passionate, and this matters a lot because developers and users are community members and they are the people who will promote mass adoption for Tron’s blockchain and coin and also develop decentralized apps that are going to bring about even more users and community members into the Tron network.

This is having an effect on the coin’s status already and helping Tron stand strong in front of the crypto storm. As we write this, Tronix is valued at $0.013308 which is still very cheap. It’s trading in small red numbers (at the tune of 3%).

But don’t let the asset’s reduced price fool you in any way. It’s growing very quickly, however cheap it can seem. Today it’s the tenth coin by market capitalization while it was twelfth only a few days ago. This asset is growing at a time in which every other asset (with very few exceptions) are losing ground, value, and capitalization.

Let’s also not forget that Tron is now the world’s largest decentralized network because it now includes BitTorrent. The full integration of BitTorrent into Tron’s blockchain is still pending (it’s called Project Atlas) but when it’s finally completed, it will turn TRX into a useful means of exchange (and value) among the 100 million BitTorrent users currently active in the world. There’s no way to predict how that development will change Tron’s status in the crypto verse but it will be very influential for sure.

Keep an eye on Tron’s news, price and new apps. It’s very ambitious, it has a very competent leadership with already proven credentials in the tech world, and it’s bound to acquire value sooner or later.

Image courtesy of Pixabay.