Tron Wants To Become Even More Decentralized Than Before
Tron (TRX) is one of the largest and most promising projects in the cryptocurrency space. Although it is a decentralized project, it seems that Tron supporters and developers want to decentralized the network even more.
Back on June 25, Tron celebrated its Independence Day in which a group of special Representatives launched the Genesis block. These representatives were known as the Tron Independent Group (TIG). These 27 anonymous and consensus-based volunteer were responsible of different issues.
They provided Super Representatives (SR) a fast track for TRX funds migration, they provided exchange services for different exchanges that wanted to support the TRX tokenmigration and they were also entrusted with 342 million TRX. Moreover, they organized a 12-hour live stream during the Independence Day and handled out TRX for the community to test the TRON mainnet.
Those Genesis Representatives should be replaces with Super Representatives. The elections to select new representatives started after June 26. A few hours ago, Marcus Zhao, the leader of Tron’s public chain division, announced on Twitter that they will be approving the proposal to remove the power of the GR.
That means that the Tron network would become even more decentralized than it currently is. This is the second vote related to this issue. The first attempt, which was held in October, got only 16 votes to remove the power of the Genesis Representatives. Now, the new vote to remove this power received 20 votes, passing the 19 required votes to be approved.
This vote could encourage more competition among Super Representatives. Moreover, there will be additional rewards to better support S.Rs and candidates on the network.
Tron is currently the 11th largest cryptocurrency in the market after Monero (XRM). Tron has a market capitalization of $1.57 billion dollars and each TRX coin can be purchased for $0.023 dollars.