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Tron [TRX] releases its weekly report, shows rapid growth

Akash Anand

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Tron [TRX] releases its weekly report, shows rapid growth
Source: Unsplash

On 13th August, the Tron Foundation released its weekly report that showed the progress that the Foundation had undergone over the past few days. The report released by Tron had three parts: Work completed, Work in Progress and Community Activities.

Work completed

The Tron Virtual Machine was supported by an update that covered the implementation of the CPU deduction logic and transaction receipt verification. The Tron mechanism also got its documents modified and added a relevant unit test. The network update comprised of collecting the total message information on the platform followed by the progression of the UDP and Transfer Control protocol.

Work in Progress

The Tron Virtual Machine got an add-on by implementing a soft upgrade on the transfer security assurance within contracts. The network also got a new feature to make the Tron Network more secure and seamless by including Resource delegation. Tron also added support for smart contract API.

Community Activities

On 5th August, Tron released a video of the Tron global meetup events. As the Super Representative Election and the Tron virtual Machine launching events unfolded, all Tron development work has been proceeding smoothly, showed the report.

The report also informed users that on 7th August, Tron held its first ever global all-hands meeting, merging teams from all across the world. The foundation had also stated that by converging Tron teams from everywhere, Tron will surpass Ethereum and become the largest decentralized ecosystem in the world.

At the meeting, Justin Sun, the Founder of Tron defined Tron’s future direction and clarified the BitTorrent team’s role in the Tron ecosystem.

The Tron Foundation also announced that Pornhub, the world’s largest adult entertainment website, had begun to accept TRX tokens as a payment option. The Foundation also released a payment tutorial as a reference.

On 10th August, the Tron Wechat shop updated to the new homepage banner and new merchandises including Tron teacup, Tron mascot and Tron cell phone cases.





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

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2 Comments

2 Comments

  1. Avatar

    Gerald Fenech

    August 14, 2018 at 1:26 AM

    Certainly not reflected in the price

  2. Avatar

    Mitchell

    August 14, 2018 at 7:53 AM

    Crypto is a joke as of now. Glad i put only a percent of my net worth in crypto. Crypto sucks ass.

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Altcoins

Whale Alert: Massive $300 million transfer takes place on Binance Chain; funds SAFU, says CZ

Biraajmaan Tamuly

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Whale Alert: Massive 300 million BNB Coin transfer takes place on the Binance Chain; CZ responds amidst transaction
Source: Pixabay

Binance, one of the world’s largest cryptocurrency exchanges, has been having a wonderful year in terms of new developments, such as their new Binance DEX and the massive growth of Binance Coin [BNB]. Binance’s native token has grown by approximately 500 percent in 2019 alone.

The exchange also recently announced the launch of BTCB, with an objective to provide a crypto-asset pegged to BTC’s value for trading purposes on Binance DEX, with the assets being backed by Binance itself.

Binance’s ecosystem is progressively active and it was recently observed and reported by Whale Alert, an online cryptocurrency-transaction tracker, that a sum of approximately $302 million, equivalent to around 8 million BNB coins, was transferred on the Binance Chain.

The transaction took place of 26th January 2019, with a time stamp of 07:52:56 UTC. It was sent from an unknown address, bnb1jkvrjawcd8wlugk8455wqjggxecyxj9uf0g7uy, to another unknown wallet, bnb13wmeg7ypkcr39wnzy2q02mku2qemnrm4kclezs, for a transaction fee of 0.000375 BNB. The block height of the transaction was #15820220, and it was deemed a successful one.

Following the massive transfer, Changpeng Zhao, CEO of Binance, responded on Twitter regarding the transfer and claimed that the current movement was a rotation of funds between some cold wallets.

CZ suggested with a linked tweet that the movement of funds should not necessarily raise any alarms as the funds were SAFU.

In another tweet, CZ  stated that there were currently 4 addresses that were holding 8 million BNB coins each. A total of $32 million BNB was unlocked for the Binance team. However, it was understood that the tokens were not spent and saved in the addresses themselves.

It is speculated that CZ took the initiative to list the reason for the massive transfer as previously, huge BTC transfers, which included a Coinbase wallet transfer, was accused of market manipulation.

At press time, BNB coin was priced at $37.30, experiencing a hike of 1.87 percent over the past 24 hours.





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