[ad_1]
The same coin burn concept is controversial within the cryptographic space. Although some experts believe that the burning of coins is an essential part of the process for maintaining a healthy ecosystem and a rather expensive cryptocurrency, many others have expressed concern that the action of burning a token represents the epitome of centralization, institution charged with the burn makes a largely unilateral decision to try to maintain a preferred price of their companies.
Despite the ongoing discussion within the wider community, the Tron Foundation continued to make waves inside the encrypted space for the commonality of its constant burns. According to some sources, the months of June and July saw the burning of 100 billion tokens from Tron, known as TRX tokens. The motivations for the individual burns of coins, as well as the exact number of counters removed from circulation, varies from one occasion to another. But according to the Tron Foundation at the start of 2018, the main objectives of the process include minimizing inflation, maximizing fairness in the distribution of tokens and rewarding those who choose to "HODL" the currency .
The community generally receives some kind of word in the process of burning coins, and many inside the Tron fandom generally support the burning process, the concept has been a widely effective way to keep the price and reward loyal shareholders of the Tron Foundation and its currency The community was responsible for choosing to burn $ 2 billion of TRX tokens last month.
A Major New Burn
Justin Sun, CEO and founder of TRX and Tron Foundation, announced yesterday that it had completed a process to burn about $ 800 million in Tron tokens. He elaborated the reasons for the burn, saying that he is likewise prepared to try to maintain the stability of the ecosystem and fight the threat of inflation which becomes a problem for many other ERC20 currencies and their ecosystems.
I just burned 800 million dollars $ TRX Token ERC20. $ TRX ERC20 tokens will soon become historical artifacts😋 Do not forget to keep one as a souvenir. 😇#TRON
– Justin Sun (@justinsuntron) 1 November 2018
In total, about half of the circulating offer of ERC-20 TRX has now been burned by the foundation and its community. It was a problem for a user, who asked on Twitter if he had actually burned half of the total token's current supply. Someone else was ready to respond to the concerns, however, articulating that the burn only applied to the ERC-20 tokens, not to the Tron coins. The first is largely "old and now useless", which makes sense given the comments on recent burns by Tron officials.
Tron expansion
The Tron Foundation has worked hard over the past few months to expand operations and increase the health and efficiency of its network within the cryptographic space and in a constantly evolving financial community. In particular, the organization announced several new partnerships, including a new association with Binance, BitTorrent and Baidu.
The recent burning of coins is probably the latest facet of the organization's efforts to expand its operations and maintain the security of the network and the ecosystem, which was a worrying time for all cryptosides.
[ad_2]Source link
