Justin Sun Speaks At Asia Blockchain Summit 2019, Briefs About Progress And Future Plans

The Asia Blockchain Summit 2019 has been a successful event, with major crypto-blockchain leaders from the region and outside delivering important keynotes. Among these high profile personalities, was Justin Sun, co-founder and CEO of Tron Foundation, who spoke about the development of Tron network in the recent past, and also listed some important things come up in the future.

Here are the key takeaways from Sun’s keynote speech at the ABS 2019:

“In the past 14 days, the average daily transaction number of TRON has gone over 1.3 million, 1.5 times that of Ethereum in the same period.”

Tron has seen the highest number of dApp embracing the platform. Over 476 in total have joined the Tron network, way more than any other. This has obviously led to an increase in daily transactions. Moreover, with the launch of BitTorrent Speed, this number will go significantly up.

“We will launch the industry’s largest and most widespread secondary market buyback program to drive community activity and market stability. The program will run for a year and will have no less than 20 million in funding, buying back TRX from secondary markets in batches. Buyback has already begun for TRX.”

This is will another major event which, Tron expects, will boost community activities, and create market stability. Earlier in a blog, the Tron Foundation had stated that as the ecosystem is expanding, user attention on Tron’s buyback and TRX holding plan is growing by the day. With the kind of expansion and growth the network has witnessed in the past few months, a buyback was more or less expected.

“While the lunch first and foremost benefits GLIDE through my $4.6 million charitable donations, I also hope that takes a step to bridge the divide between the blockchain industry and traditional investors.”

The 25th Annual eBay powered Power of One Lunch with Warren Buffett will be hosted at Quince Restaurant, San Francisco. Tron’s CEO, Justin Sun managed to secure the event after donating a whopping $4.57 million in charity via an auction, for Glide Foundation. The event is being considered to be vital for the entire crypto industry, as it is probably the best possible chance to influence Buffett, who has been a long time critic of cryptocurrencies. For this, Sun has invited quite a few important figures of the crypto space.

“Tron Foundation submitted a proposal for the Sun Network in April 2019. The Sun Network will provide TRON mainnet with infinite scalability.”

This was probably the most underrated part of Sun’s speech, though an extremely important one. Infinite scalability will help Tron focus on improving speed, rather than getting worried about network congestion. Moreover, the BitTorrent File System mainnet is also set to launch in the second half of this year and will get the Tron Mainnet support by the end of 2019.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button
Bitcoin (BTC) $ 67,617.12
Ethereum (ETH) $ 3,497.72
Tether (USDT) $ 1.00
BNB (BNB) $ 606.70
Solana (SOL) $ 150.02
XRP (XRP) $ 0.486413
Dogecoin (DOGE) $ 0.143895
Cardano (ADA) $ 0.429045