Bitcoin, Crypto currency, Blockchain

TRON destroyed 1 billion TRX to the Independence Day on may 25. June Coin Of Burn Notice

Justin Sun yesterday anegkündigt that TRON will destroy a billion Coins (“Coin Burn”), in order to celebrate its independence from Ethereum. In addition, TRON has released a 4-phase Plan for the Mainnet launch.

The Tron Foundation yesterday released new Details on their Mainnet launch and a letter to the TRON Community on the occasion of the “TRON Independence Day”.

In this saying (freely translated):

To commemorate this exciting Moment, the TRON Foundation, a Coin Burn of 1,000,000,000 TRX, what corresponds according to the current market price of USD 50 million. This could be the record for the most money, which was destroyed in the history of mankind to celebrate a historic Moment.

The amount of TRX Coins at the beginning of the Mainnet launch is reduced to 99.000.000.000 TRX. The amount of crushing Token is from the TRON Foundation, which is the Coin Burn is still 33.251.807.524 TRX, this to 1. January 2020 locked.

TRONs Mainnet-Start is four main phases through rest: preparation, Guardian Phase, Phase of Genesis and constitutional Phase. Currently we are in Phase 0 (preparation), the tomorrow 23. June, the choice of the Genesis Representatives (GR) for confirmation of the Genesis Boot Node (GBN).

In Phase 1, the on 24. June begins, review the GRs the process, version information, network parameters, and authentication. After the verification is completed, initiate the 26 GRs the Protocol and start the Guardian Phase. If more than two-thirds of the GR to confirm the BOOT command of the Genesis Boot Node, initiate all of the representative together with the start-up procedure.

In Phase 2, the 25. June starts will be created in the Genesis Block. The Genesis Boot Node transmits the Start command to the entire network of 26 GRs joining the Genesis network, as soon as more than two-thirds have reached a consensus. This marks the “TRON Independence Day” and the beginning of the elections to the super-representatives.

In the constitutional third Phase, the selected Super-Representatives (SRs) will assume the leadership of the TRON network. A more detailed description of it here.

TRON Coin Burn

Platforms burn Token in order to reduce the number of coins in circulation. Often Coin Burns also be used to encourage the owners to keep their Coins for the long term, there’s a smaller amount in circulation can mean increase due to the lower supply an increase in value or price. Whether this will happen in the case of TRON, it remains to be seen.

At the time of writing, the TRX rate is around 6 percent and thus follows the Trend of the market as a whole, of the recorded in the past 24 hours, greater price losses.

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