In a further attempt to ensure that its transition from Ethereum blockchain is seamless, the renowned Tron Foundation has again burnt another set of tokens valued at 4,917,487,036.059613 TRX. These represent the former ERC20 which it previously used before changing to its current mainnet. This burning is necessary to avert possible confusion and ensures all Tronics migrate to the new mainnet.
ERC20 Tokens burning is The Fifth Time
It is on records that this current ERC20 tokens burning are the fifth of such. The latest mainnet of Tron which it is seeking to migrate fully to was commenced June 25, 2018. To this effect, new TRX were put in place which is usable on the new mainnet.
While producing new tokens, the Foundation has not stopped destroying old ones. And in doing these, a lot of public notices were released by the foundation to inform the public. In fact, Tron Foundation released in one of its blog posts that:
Currently, TRON mainnet runs smoothly, there are 1058 nodes around the world, block height: 2309162 (As of 18:45, September 12, SGT), token migration is still in progress, meanwhile TRON will keep Tronics informed, thank you for your support.
Tron’s Prices Go Up After Burn
Just some days after it burnt its old tokens, Tron’s coin has gained some 8.73% growth as it now sells at 0.020384. This gain in price has assisted Tron’s market capitalization to increase to $1.3 billion. As such, the blockchain currently occupies the 13th position on the list of the world’s largest digital currency based on data from CoinMarketCap.
Tron foundation keeps exploring novel ways of promoting its tokens which it hopes would make it come up with an economy that is smart and which operates solely on TRX tokens. It has greatly benefitted from its decision to allow uTorrent customers to be added to its mainnet. And for the fortune, many have seen Tron’s CEO, Justin Sun, as the best thing to have ever happened to the project.
More Partnerships on the Way
Not quite long ago, Tron reached a partnership agreement with “Crypto & Proud” which is a crypto lifestyle store. The agreement allows Tron to sell accessories and apparel to many of its crypto enthusiasts. From information gathered, the original crypto collections of Tron would soon be made available via the store.
Already, simple Tron collection such as T-shirts, Phone cases, and the likes are already on display on the store. So, as time goes by, Tron foundation would roll out outstanding merchandise to be sold on the store.