Tronix (TRX) is the official currency of TRON, which aims to be a decentralized entertainment content sharing platform eventually leveraging blockchain and peer-to-peer (p2p) network technology. Founded by a non-profit Singapore-based foundation, the Tron Foundation seeks to tackle the global entertainment industry – currently valued at $1 trillion.
The Tron foundation has announced that on March 31st, they will be launching their first beta version of EXODUS. This new technology will offer more advantages in comparison to the current blockchain system. This will lead to at least 1,000 transactions per second while keeping fees at a minimum low. The beta version will encompass the TRON virtual Machine (TVM) – a tool that will enable smart contracts to be created in various programing languages including Java compiled into byte-code by the Tron compiler.
POTENTIAL COIN BURN
March 31st seems to be an important day in the crypto world – especially for Tron. For a long time now we have heard this date time and time again. Something that Tron holders are very excited about is the coin burn. TRON creator, Justin Sun, announced a couple of months ago that he was going to start burning TRON at a slow rate – similar to what XRP does. For every so many transactions there will be one TRX coin burned. Proof of burn is an alternative to proof of work as well as proof of stake. The consensus algorithm requires that the miners provide the proof that they burned the coins by sending the coins to a verifiable and ususpendable wallet. Many believe that this could spike up the value big time.
TESTNET LAUNCH
As if this Match 31st date wasn’t already jammed packed with exciting news, there is one more thing going on that day: the TRON test net launch. Justin Sun himself has gone to twitter with a countdown timer for excited holders. ~~~ embed:975134488077283328. This new launch will remove the Ethereum dependency and open doors to a bigger market so it is no wonder why people are so excited for this date. The test net is expected to open new avenues for running a full node and allow the deployment of customized digital assets. The test net will bear all the functions of a basic blockchain and enable sending and receiving of transactions as well as voting. twitter metadata: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 ~~~Investors and skeptics believe that this chunk of news will start to turn things around.
What do you think about tron and this exciting news? Let us know in the comments!
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STOPI love Tron, its a great coin and has a pretty active community and dev team
yess, i think tron is a great long term play!
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