Tron [TRX] CEO Justin Sun Announces Energy Cost Reduction Proposal Approved

After the sunshine days at the start of this year, the year's end has only brought rain and gloom on the Crypto market. The downward thrust has hardly left any currency untouched. The likes of Bitcoin [BTC] and Ethereum [ETH] which were believed to have stabilized in late November, continue to balk under the downward thrust of the market. Unsurprisingly most projects have been put in the freezer, awaiting a more suitable time. It is thus encouraging to see that in the times of such strong negative investor sentiments, at least one coin is bucking the trend.

In spite of the prevailing bear market, Tron [TRX], has continued to initiate interesting strides. The tenth-largest cryptocurrency by market capitalization, according to Coinmarketcap has made strident advancements in the network development domain. Now the foundations CEO, Justin Sun, has announced that he has just presented a proposal that should reduce the cost of a smart contact. The intention is to trim down the cost of energy from 20 to 10 sun, this should make the network a little bit better for developers and, hopefully, reduce costs.

Justin calls the new initiative Proposal 9 and had announced it via a tweet, stating

Proposal 9 has already garnered 22 approvals out of the 28 super representatives. Those in favour apart from Justin, include; Tron Society, BitGuild, Tron One, Lianjinshu, uTorrent, Crypto Guy in ZA, Infinity Stones, Alle Exchange, Tron Alliance, TronWalletMe, Raybo Tron, BitTorrent, Blockchain Org, CryptoChain, Sesameseed, callmeSR, DApp House, Tron Spark, TRX Market, Sky people, and Tron Europe.

A Super Representative is akin to the political member of a house in a democracy. They are elected persons who look to be the voice of the community and validators of a node. Much like a democratic setup, these representatives vote on various proposals (again like bills and acts) to add or remove features that will help the entire community.

Recently, Tron has been making an aggressive push towards wooing developers. Earlier in the month, another proposal was put forth with the intention to maximize the energy limit of the network. This too was aimed at providing more support to the developers of the ecosystem. That proposal was unanimously approved.

With a string of victories under his belt, the Founder of Tron has also pointed out that his coin has now surpassed Stellar, the fourth largest cryptocurrency in terms of market cap. He noted:

“According to @CoinMarketCap, there are 159 trading pairs of #TRON which already surpassed 157 trading pairs of Stellar. #TRX was already listed on more than 100 exchanges, including Crypto/Crypto & Crypto/ Fiat trading pairs”

TRX has certainly held the fort in these stormy times. Its focus on innovation and looking out for developers will undoubtedly bode well for the coin in the medium to long term.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,437FansLike
2,795FollowersFollow
4,190FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Blockstream CEO Doesn’t Sell Any Bitcoin Mined on Anticipation of 3,000% Price Increase

Bitcoin miners might be busy selling more bitcoin than they are creating post halving but Adam Back, the chief executive officer of Blockstream Corp.,...

Coincheck Crypto Exchange Clients’ Data Compromised After Hacker Breached Its Domain

Japan-based cryptocurrency exchange, Coincheck, announced yet another hack – this time about 200 customers data was compromised after a domain account error. According to...

Crypto Crimes Soaring to $1.4 Billion in 2020; COVID-19 Related Frauds also Emerging

During the first five months of 2020, losses from cryptocurrency hacks, thefts, and frauds spiked to about $1.4 billion, as per the report from...

Crypto Ratings Council May Rate Tron (TRX), Polkadot (DOT), and Nervos (CKB) Token As Securities: Unofficial Report

Quick look: The Crypto Rating Council (CRC) preliminary reports show three altcoins – Tron (TRX), Polkadot (DOT), and Nervos Network (CKB) are highly likely...

Coinbase Drops APY for USDC Stablecoin from 1.25% to 0.15% Starting Today

Coinbase has said that it will reduce the annual rewards on holding USDC stablecoins by 88% in a recent email announcement. The firm noted...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today