The Tron foundation burnt almost 5 billion ERC-20 tokens on September 13th as it completes the transition to its MainNet. This will be the fifth batch of old token burnt.
The Tron Foundation Burnt Token
The Tron foundation launched its MainNet on June 25th, 2018; this came with a new set of Tron tokens that could be used on the MainNet.
After the mainnet launch, the Tron foundation started burning its old ERC tokens. These have previously been burnt four times before the recent burning that took place on September 13. As noted by Tron foundation, a total of 4,917,487,036.059613 Tron TRX ERC-20 tokens was burnt. These tokens were old tokens used by the blockchain before moving to its mainnet.
The Tron foundation had previously noted on their platform that the Tron mainnet runs smoothly, and there are 1058 nodes, block height 2309162 (As of 18:45, September, 13, SGT). So also token migration was stated to be ongoing, and TRON thanked its user as it promised to keep the community informed.
Tron’s Continuous Steady Growth
The continuous upgrade and updates on the Tron network had made it a network of choice, which has positively affected the value of its tokens. At the time of writing, TRX is sold for $0.019998, with a 0.46% growth in the past 24hrs. So also, the market cap has taken a surge to $1.3 billion making it the 13th most popular cryptocurrency on the globe.
Notably, the cryptocurrency foundation has adopted some new measures to expand its tentacles, as it promotes its token and creates a smart economy that operates the TRX tokens. These include integrating the uTorrent users into its MainNet. This was aided by uTorent’s acquisition, which is considered to be the turning point of Tron’s project.
Further, Tron has also partnered with a crypto lifestyle store called “Crypto & Proud,” the store sells apparel and accessories to cryptocurrency enthusiasts.
One of the most famous dapps, GoSeedit, on the Tron network reached a fantastic milestone of 18 million TRX tips made through the platform. A total of 18,385,223 tokens have been tipped, in 293,206 tips transactions, and the highest amount of Tron tipped in transactions stand at 94,947 TRX tokens.