Yet again, during a tweet by the CEO of Tron, Justin Sun, the Tron foundation announced the burn of ERC-20 tokens. It is important to know that this will be the 5th set of ERC20 TRX tokens that have been burnt by Tron after the launch of its MainNet. According to Sun’s tweet, the ERC tokens burnt was roughly 4.9 billion – the coin burn occurred last week, on Thursday, Sept 13.
Tron’s Token Burn
Tron’s MainNet was launched on July 25th, and since then, Tron has continued to burn some of its old tokens. According to Tron Foundation, the coin burn is regarded as the final phase of the Tron’s complete migration from Ethereum’s protocol.
As mentioned earlier, the 5th set of TRX tokens have been burned; the first set of tokens burned during Tron’s mainNet launch was approximately $50 million.
Due to the fact that about 4,917,487,036.059613 ERC20 TRX tokens have burned recently, Tron Foundation stated this in a blog post:
“Currently, TRON mainnet runs smoothly, there are 1058 nodes around the world, block height: 2309162 (As of 18:45, September, 13, SGT), token migration is still in process, meanwhile TRON will keep Tronics informed, thank you for your support.”
Nevertheless, the Foundation didn’t fail to state the reason why another token was burned, which is to decrease and control the number of TRX tokens in circulation, to avoid mix-ups and increase the value of TRX in the crypto market.
Tron’s community on their part expressed their feelings and opinions, which weren’t positive enough as they weren’t excited with the recent token burn.
No. These are the old ERC-20 tokens. This does absolutely nothing.
— Brad (@Brad2pointO) September 13, 2018
Moving forward, after the launch of Tron’s MainNet, the blockchain firm has increasingly been supported by different FinTech companies and Exchanges – as, it succeeded in getting featured on Wallets such as SatoWallet, Cobinhood, etc.
Tron Continues to Grow Riding on its Recent Developments
Not too long ago, Sun announced that Tron (TRX) had achieved greater heights as the number of accounts on its MainNet has exceeded those on EOS MaiNet, despite EOS MaiNNet being in the game for a while now.
Lots of crypto enthusiasts have noticed that the main reason why Tron has been able to surpass its predecessors and get lots of accounts on its MainNet was that it permitted Twitter and other social network users to send TRX within themselves.
Let’s not forget that Tron (TRX) got listed on ChangeHero and Instant crypto exchange platform, just recently. Nonetheless, Tron’s daily transaction has reached nearly one-third of Ethereum’s transaction. A tweet by TRX Colony reads,
“TRX stared Aug. with only 30,100 transactions a day. By the end of the month, the average of daily transactions was nearly 1/3 that of Ethereum. Tron is the fastest growing coin; this rocket ain’t stopping for anyone.”
Subsequently, as it’s no secret to anyone, Tron has also acquired BitTorrent, which is often regarded as one of the greatest achievements in the crypto space. The blockchain firm has also optimized its feat with the launch of its Virtual Machine. The CEO of Tron, Justin Sun stated this during the launch of its Virtual Machine:
“TRON is 80 times faster than Ethereum. With 14 years of experience, BitTorrent is providing world-class service to 100 million users in 138 countries. Add the two together, and you get the largest and most advanced peer-to-peer network in the world!”
Tron TRX Price Overview
There has been a slight improvement in the price of TRX after the coin burn. At the time of writing, TRX price has increased to $0.0195, after it saw a slight increase of 1.2% in its worth in the last 24-hours.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…