Cryptocurrency

Justin Sun Discloses Plan to Bring New TRON PoS Mechanism

On Twitter, founder of Tron and CEO of BitTorrent, Justin Sun has declared his plans to bring in new mechanism regarding staking and rewards. The plans include TRX incentives for users and new staking partners for TRON.

A little upsurge in Tron’s price was seen after Justin Sun’s announcement. It is noteworthy that Tron has maintained green throughout the last month.

Sun Tweeted:

The new implementation should provide for a fair, decentralized distribution of staking revenues, encouraging greater user participation and smoother engagement with staking from more wallets, exchanges, and partners.

In continuation with the previous tweet, he also posted that more backing and more stake ratio will make the network more active and will form a concrete economic system increasing the lock-up amount from customers within the network.

He further posted, “TRON Partner Staking & Vote reward” for each block, the most-voted 127 nodes (TRON partners) will receive TRX rewards in proportion to the votes they get.” He explained further that they have optimized the returns of staking users at 160 TRX for one block.

He elaborated that more TRON nodes and more partners will lead to greater decentralization and more participation across the globe.

New Enhancements to the Tron’s platform

With consistent efforts to improve the network, Sun Network recently released a code for Tron’s Sun network Version 1.0.

Last week, the company introduced BitTorrent Live streaming app. This will reportedly be working on Tron and BitTorrent algorithm.

More important announcements 

Tron is soon expected to make more announcements regarding a release from Sun Network. The Sun network, launched on August 11, is a sidechain scaling option to empower the Tron network with enormous capacity. The Solution will enable decentralized applications to run more efficiently with more security and less power consumption.

Last month, Sun also expressed his aspirations to see the TRX currency listed on the American version of Coinbase or Binance.

Tags

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
Back to top button
Close