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Tron’s ‘Super Representative Election’ ushers bullish signs for TRX HODLers

Sthuthie Murthy

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Tron's 'Super Representative Election' ushers bullish signs for TRX HODLers
Source: Flickr

After the successful launch of their public blockchains testnet on March 31st, Tron announced the Super Representative recruitment plan. This meant that during the two-month test terms, Tron will spend real money on community galvanizing and their ecosystem development.

This election plan is the master node of their network which is similar to the Bitcoin super miner and is an approach destined for lucrative returns by collectively participating in an information recording and complicated computing of Tron’s network.

The reward for block-creation of the Super Representative [SR] plan’s revelation attracted a lot of members. It occupies a huge proportion in Tron’s cumulative community reward expenses. If TRON’s [TRX] market value exceeds that of Ethereum’s [ETH], these supernodes selected will have unaccountable wealth.

Netizens state it as:

“While most users are still floundering in the bear market, some people have seized the initiative to lift the ‘pickaxe’ in the TRON main network and dig for the treasure.”

The TRON project and its Founder, Justin Sun have both been favored Malta’s Prime Minister’s vision. They interact frequently on social network platforms and have been in the news recently with Justin Sun announcing support for the PM’s vision of building a blockchain island. This has, in turn, attracted great attention from insiders as in basic terms, in TRON global public blockchain ecosystem, ‘Super Representative’ means the ‘right to speech’.

The letter from Justin Sun that was published on April 12th, titled “Letter to the TRON Community: On Super Representative Elections,” announced the first Super Representatives Election for June 26th, 2018. Here, 27 SRs will be elected, laying the foundation for a self-governed community with a general election.

The “Super Representative” plan will be a stepping stone for TRON towards a new era. It also creates realistic feedback platform for their supporters in the bearish and bullish market.

A lot of popular names from the industry like Antpool, BitcoinWorld, RightBTC, etc. have stepped up to be candidates for SR. The procedure and eligibility to run as a contestant for the elections were released by Justin Sun earlier. Many supporters have expressed their claims and urge to run for the elections themselves as well.

Vanessa tweets:

“Justin, you are a brilliant head, a marketing genius. TRX is the bestest Chinese coin ever, sure to reach the moon, mars whatever.”

Joshua says:



“Come join us at team Tronics as we start to build the community voice from within the community.”

N-1 tweeted:

“In all fairness, the income from at least one Super Representative spot, should be distributed amongst ordinary TRX hodlers.”

Briana commented:

“I so badly want to participate too, am I eligible? Can I make it? I am just a regular investor and TRX holder. Anyway good luck to the others and Tron is doing a great job.”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Bitcoin

Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator

Priya

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Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.



“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.





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