Two months ago, on June 25 th the TRON TRX foundation on Justin Sun's head announced the Day of Independence for TRON, followed by a burn of a billion coins that had been held in reserve from the foundation.
On 27 August the foundation announced that it had another round of burnt coins, this time focusing on "burning" a batch of TRX ERC-20 units. The team also continued with the clarification of the block awards for the Super Representatives who took the place of previous Genesis Representatives.
In this way, TRON (TRX) marked an entry into the constitutional phase of decentralized autonomous democracy.
The TRON Foundation went ahead with another burnt coin
On 27 August the Tron foundation announced the execution of another burnt currency. This time, a series of TRX ERC-20 tokens were burned with the mentioned date, while the foundation burned one billion TRX units that had been retained by TRON (TRX).
This time the team stated that 670,045,551,449388 ERC -20 TRX tokens were burned, this way ended the start of a new era of democracy for this blockchain project.
The foundation also stated in its official post on Medium that the network runs smoothly after the last issue of coins, with 909 different nodes worldwide, while token migration is still ongoing. The team is also just a few days away from the launch of TVM, maintaining community updates on all actions and operations concerning the TRON network.
TRON clarifies Coin Burn and Block Rewards
Regarding the most recent case, burning more than 670 thousand TRON ERC-20 tokens, the foundation made clear that TRON officially entered the next phase of its operations, thus establishing the constitutional phase of decentralized autonomous democracy.
Back on June 25 th the foundation declared the Day of Independence for TRON and Tronics, while soon after it replaced 27 Genesis representatives with 27 Super Representatives out of 127 candidates for TRON SRs.
Now that all 27 SRs have been chosen with a fair vote on the TRON network, the foundation has clarified the block awards, stating that the network has adopted the DPOS consent mechanism, stating that a block is generated every 3 seconds for the Super Representatives, rewarding the 27 SRs in sequences with 32TRX for each generated block.
In addition, the total of 127 SR candidates that also includes the 27 selected Super Representatives, the network will allocate the additional amount of 16 TRXs for each block generated in 3 seconds.
The additional block prizes will be distributed among the 127 Super Representatives candidates, receiving proportionately the amount of TRX in prizes according to the votes that the candidates previously received during the election.
Previously during the launch of Mainnet when the one billion coins burnt took place, the foundation reduced the total number of tokens from 100 to 99 billion coins
Now that all 27 SR candidates have been chosen, one of which is Justin Sun, the founder, and CEO of the TRON and TRX network, the foundation can focus on building a more decentralized future within a democratized blockchain-based network.
TRON to Launch th and the new virtual machine Tron
The next thing in the roadmap of the TRON foundation is the announced launch of the new Tron virtual machine.
The TVM was announced again with the Day of Independence on June 25 th with the launch of the mainnet, and is scheduled for release on August 30 th which is now just a few days away as Tronics is counting down for the official launch.
The new TVM should resemble the EOS system while being compatible with the Ethereum virtual machine, created to create a more efficient and productive ecosystem for developers, which should also contribute to the overall value of the project and the TRON foundation while the team it is heading towards the creation of a decentralized Internet. [19659002] BitTorrent, one of the most famous data sharing services, previously acquired by the founder of the TRON Foundation, Justin Sun, should play an important role in this phase of network development, while Sun also announces encouraging BitTorrent users to sow.
On 27 August th after the coin token announced more recently, TRX is climbing more than 5% against the dollar, while it is trading at the price of $ 0.023 for one unit. The official launch of the TVM will be held live by the foundation, while all members of the community following the official version will have the opportunity to join a new lottery draw and collect rewards in the form of TRX.
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