Justin Sun: the TVM, burning and scandals of Tron (TRX)
2 min read
As always, Justin Sun uses Twitter to update users on the progress of the Tron network and the TRX token.
There are a lot of novelties for this blockchain given the multitude of projects that are emerging or evolving gradually, attracting the attention of both users and developers.
Let’s start with a very useful piece of news for developers. Proposal number 41 has been approved, which allows the TVM (Tron Virtual Machine) to be fully compatible with the latest update of the EVM (Ethereum Virtual Machine) so that developers can migrate their projects from one blockchain to another. This will make it possible to switch to the Tron blockchain, certainly faster and cheaper than the Ethereum blockchain.
Justin Sun has also announced another piece of news related to the token, involving the burning of about 200,000 TRX on the Ethereum blockchain. Since they are not tokens from Tron’s “mother” blockchain, the burning will probably not affect the price.
In addition, there are several campaigns for crypto influencers on the DLive platform, which was bought by Tron, in which it is possible to stake and earn tokens by viewing or streaming online content on the platform.
The SharkTron scandal
But there is also one detail that many have not missed, especially when reading the comments on the various news, namely the SharkTron scandal. It involved a huge exit scam and all in front of the eyes of those who had to protect the users. In fact, the various tokens on JustSwap have to pass a check through the platform itself, which apparently didn’t happen or was done very superficially. According to the Tron Foundation, they are working with the Binance exchange to recover funds and track criminals:
(1/2) Regarding the shark incident we have contacted @Binance and worked together on chasing down the funds and people behind this. A portion of the funds have been frozen on Binance.
— TRON Foundation (@Tronfoundation) November 9, 2020
The price of Tron (TRX)
Finally, it is worth noting that the price of the asset does not seem to have benefited much from the news, since the small increases could be due to the overall positive market situation, rather than to the blockchain itself. The TRX token is now at position number 16 of CoinMarketCap and is now trading at $0.02.
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