Tron (TRX) has been on a recovery track since the downward trend experienced by the cryptocurrency market for part of the first quarter of 2018. The token joined the top 10 coins by market capitalization having grown to a market capitalization of $5.2 billion USD. The last time Tron was among the top 10 cryptocurrencies for more than 24 hours was back in January at position 5 with a $10 billion USD market capitalization. It remains to be seen whether the token will continue this trend to move among the top 5 again.
Tron Super Representative Election
The Tron platform was designed be a democracy with each member of the community having a say in the decision making process on various aspects of the platform. Tron introduced the concept of super representatives (SR) elected by members on the Tron ecosystem to facilitate the community’s participation. The 27 positions available are open to any member in possession of Tron tokens.
Tron (TRX) plans to hold the first election of super representatives on June 26th. This model of decentralizing decision making undoubtedly brings with it numerous benefits. However, concerns have been raised over the amount of time it would take to make and implement decisions in such a democratic space. Nominations for the persons to vie as super representatives are ongoing.
Cobo wallet, a leading cryptocurrency wallet is the latest to be announced as a participant in the Tron’s SR elections. This comes after yesterday’s announcement that BitcoinWorld; a blockchain based internet finance company, would be participating in the elections. This is in addition to around 20 members already registered to participate as announced by Justin Sun as of 23rd April.
Cryptocurrencies have been seen as a disruption to the traditional fiat currencies. In a joint effort with Augama crypto congressman, Jason Hsu and the central bank of ROC Taiwan, Tron announced its participation in the promotion of TWDT. TWDT is a project aimed at creating the first digital fiat currency in the world.
TRON in April 2018
- Best in commits on GitHub
The Tron community has been active over the past few months with the token consistently ranking highly in the number of commits made on GitHub for the last 7 days, 30 days and 3 month periods to date. Each commit represents an update to the platforms code. GitHub has enabled developers to jointly work on projects enhancing the level of collaboration. Tron’s leadership in the number of commits points to a community that is constantly on its toes making changes and improvements on the platform to help it achieve its goals.
- Addition to Coinbene Exchange in Malaysia
Despite the many developments the cryptocurrency industry continues to experience, it is still in its infancy with much potential for growth. Yesterday, Justin Sun (founder of the Tron foundation) announced Tron’s expansion into Malaysia through the listing of the token on Coinbene. Coinbene is a Malaysian crypto exchange platform with over a million users and operating in over 200 countries. Tron is available for exchange on the platform with the USDT coin.
Asia has been at the forefront in the development and adoption of digital currencies. Tron (TRX) entry into Malaysia is expected to push for further accessibility and adoption of the token in Asia and other jurisdictions served by Coinbene. Bittrex, another crypto exchange platform has also expanded TRX trading pairs to include TRX/USDT. This is in addition to the BTC/TRX and ETH/TRX currently available on the platform.