27 Aug Justin sun, Director General and founder of Tron Foundation, made a further application associated with the burning coins. At this time, the company burned more than $670 million tokens ERC20.
Justin announced on Twitter:
“670,045,551.1449388 token #TRX ERC20 was burned Fund #TRON”.
This is the fourth burning tokens from the Fund. In addition, the team also announced that Tron has over 909 of sites worldwide. The Fund States:
“Currently, TRON network running smoothly, there are 909 sites worldwide, unit size: 1818185 (as of 16:16, August 27, SGT), migration token is still in process, will inform TRON”.
In addition, it is believed that the burning of coins is the final stage of the transition from Ethereum platform. All tokens ERC20 accumulated exchanges, will be burned. Burning coins is a kind of tactics the company as a reduction of the application leads to increase in prices. This process also encourages investors to hold coins, and at the same time helps in the preparation of the site to improve the technology.