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
— Justin Sun (@justinsuntron) December 13, 2018
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.