33.25 Billion Tron TRX Tokens Frozen Until 2020, Here is How to Track Them
Some cryptocurrency projects try to regulate the circulating supply of tokens that the market has. In this way it is possible to sustain the price of the coins and avoid having an excessive offer of digital assets.
This is why the TRON Foundation decided to burn 1 Billion TRX, reducing the total supply of tokens to 99 billion. Additionally, the team behind this project locked up 33.25 billion TRX until January 1, 2020.
This lock up has been done in over 1,000 different accounts to protect the stash of digital assets. In this way, it is possible to reduce the possibilities of an attack that would steal all the coins or he majority of them.
Last month, considering the safety of digital assets, @Tronfoundation locked 33,251,807,424 #TRX in 1000 addresses of #TRON mainnet, in order to let #TRONICS search these addresses more conveniently, we made a query tool, feel free to search now. $TRX https://t.co/HxPSlodsYq pic.twitter.com/FbAyDvieBg
— Justin Sun (@justinsuntron) August 11, 2018
Tron is one of the most promising blockchain projects in the market and it aims to keep growing in the future. It has an important number of features that attract developers from other networks and has a lot of potential to grow even further.
This growth in the Tron network can be seen in the number of transactions that is increasing as time passes. From 28,208 transactions registered on July 28, 2018, it passed to 215,811 transactions on August 8, 2018.
At the same time, in just four days, the number of accounts increased 86% passing from 92,175 on August 7, 2018 to 171,997 on August 11.
Since a very long time, Justin Sun believes that Tron will be surpassing Ethereum as the second most important virtual currency in the market. Ethereum allows developers to build their own decentralized applications (dApp) in a similar way as Tron does.
At the moment of writing this article, Tron (TRX) is the 10th virtual currency in the market according to its market capitalization of $1.47 billion dollars and each coin can be bought for $0.022 dollars.