Tuesday, May 26, 2020

Justin Sun announces a new incentive plan for Tron partners

The Takeaway:

CEO of Tron, Justin Sun announced some major developments at Tron. In a series of tweets, he revealed a new staking plan with TRX incentives for Tron's users and partners.

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In a series of tweets, Tron CEO, Justin Sun announced a new staking plan with TRX incentives for users and partners of Tron. Justin tweeted Tron’s new program regarding TRX staking and rewards today.

Justin wrote that this would be a fair decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges, and partners. He also announced the plan to bring more active members of the Tron community to build a stronger economic system on the network.

He added that there would be fewer unnecessary dividend distribution which would result in less bandwidth consumption and great network robustness. 

Tron’s incentive system has been criticized by many in the crypto community, Justin looks to amend that too. He wrote that for each block, the most-voted 127 nodes (TRON partners) would receive TRX rewards in proportion to the votes. The total reward for one block would be 160 TRX. 

Along with these new developments, BitTorrent yesterday announced that the launch of beta testing version of its BitTorrent live streaming app. Blive works on both Tron and BitTorrent protocols. Currently, BitTorrent has over 100 million users, and Justin Sun wants them to use BLive. 

Let us know in comments what do you think about new developments at Tron?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Thomas Gonzales
Thomas Gonzales
Thomas is a Stanford University graduate who loves to talk about the financial world. Though he has a demonstrated history of working in the real estate industry but ever since he came into the crypto space, he has developed a keen interest in researching and writing about bitcoin and blockchain.

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