Cryptocurrency News

Binance Becomes The Largest Producer Of TRON Blocks


Binance becomes the largest block producer in the TRON cryptocurrency network. The company was able to rise to first place due to the freezing of 12 billion TRX tokens, followed by the use of assets to vote in their favor. 

Probably, the decision allowed the exchange to provide funds for the participants of the TRX cryptocurrency stacking program. Information regarding adding a new asset to the project was presented to users on September 30. Currently, Binance holds 59.5% of the votes in the TRON network. For comparison, the result of the second-place company is 2.55%.

It is known that cryptocurrency freezing operations were carried out on the basis of the Binance cold wallet. Meanwhile, users on the network note that control of 59% of the network by a third-party organization dispels all myths about the allegedly decentralized structure of TRON.

12 billion TRX tokens, frozen by Binance, are ⅙ of the total cryptocurrency supply on the market. At the press time, the asset rate is demonstrating positive dynamics.

Recall that the TRON involves the delegation of the Proof of Stake system. In it, 27 so-called “super-representatives” produce blocks for the project network. The latter are elected by vote.

Meanwhile, TRON CEO Justin Sun drew the attention of readers of his microblog to the fact that the USDT TRC20 standard is currently available on Binance.

Also, a publication appeared in the exchange’s account calling for the introduction of the USDT standard TRC20 on deposit. The message says that it is possible to earn 16% per annum and win 160 thousand tokens of this format.

Recall that the crypto community is still waiting for the lunch of CEO TRON with a popular investor and cryptocurrency critic Warren Buffett.



View original post

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button