- Binance Adds Staking Support for Tron
- Binance Voted Itself to Be a Super Representative of Tron
Tron News Today – No doubt, Tron is one of the most active and engaging crypto projects in the industry. The digital currency project is always in the news for one development or the other. Tron (TRX) is very popular today, thanks to its CEO and founder – Justin Sun. Sun has been singing praises about the project, and he has significantly contributed to the growth of the project. Sun aims to make the Tron network more decentralized and the go-to platform for startups and Dapp developers.
Binance Adds Staking Support for Tron
The recent bullish news around the project is the addition of staking support for Tron by Binance. Binance just added support for Tron staking to its recently launched staking platform. Binance is one of the largest and most popular digital currency trading platforms in the world. The digital currency trading platform announced the launch of its staking platform on Monday.
Starting from October 1, Tron (TRX) holders on Binance exchange would start receiving their share of the block rewards that Super Representatives produce on the Tron (TRX) network. Tron’s close association with Binance could have an impact on the price of the digital currency. However, there are no considerable changes yet.
Binance Voted Itself to Be a Super Representative of Tron
In addition to adding staking support for Tron, Binance has also voted itself to be a Super Representative of Tron. According to data from Tronscan, Binance became a Super Representative with more than 59 percent of votes. Of the 650 voters supporting the position of Binance as a Super Representative, one voter made up about 99.60 percent of the votes – assigning almost 12 billion Tron (TRX) tokens. The address of the users is TMuA6YqfCeX8EhbfYEg5y7S4DqzSJireY9. This address has been earlier cited as a cold wallet owned by Binance.
About Tron’s Super Representatives
Tron came up with this initiative over a year ago. The Tron network leverages a Delegated Proof of Stake system in which Tron (TRX) holders vote for twenty-seven Super Representatives to produce blocks for the network. As a reward for their services, these Super Representatives get TRX-based block rewards on the number of TRX they lock up in the staking. The system has been working since it emerged and it is an initiative to further prove the decentralization of the Tron network.
TRON (TRX) Price Today – TRX / USD
At the press time, the 14th largest digital currency is trading at $0.0147 after an increase of more than 12 percent over the past twenty-four hours. The current market cap of the digital currency is $982.98 million.