TRON Backs Binance’s Blockchain Charity Foundation, Network Hits Record Daily Transactions

TRON Backs Binance’s Blockchain Charity Foundation, Network Hits Record Daily Transactions


Justin Sun’s ambitious blockchain company, the TRON Foundation, is backing the Binance-led Blockchain Charity Foundation and its work with the UN. In what’s shaping up to be a great month for TRON, despite coin prices, the TRON blockchain has also hit its highest number of transactions yet.

TRON Donates $3m to the Blockchain Charity Foundation (BCF)

Binance created the BCF to bring transparency to charitable donations. Blockchain’s ability to track every transaction lends itself perfectly to improve the sector, while increasing cryptocurrency adoption, says Binance founder Changpeng Zhao.

Zhao outlined the planned blockchain architecture for the BCF in a blog post in early October 2018, which concluded:

“We would like to invite developers to participate in helping with the design and development of the tracking platform, in addition to Binance’s own efforts, and donors to donate generously.”

By this point, the United Nations Development Programme (UNDP) had already partnered with BCF in order to “support the application of blockchain technology for social good.” A contribution to UNDP from BCF of $1 million was announced at the 73rd UN General Assembly.

At Malta’s blockchain conference, the DELTA Summit, also in October, representatives from Binance, TRON, and BCF attended a private reception with the President of Malta, Marie-Louise Coleiro Preca. TRON and BCF explained their vision of blockchain technology for social good.

TRON has since announced a donation of $3 million to the BCF, with Sun declaring:

“I believe it is my responsibility to lead the movement in applying blockchain technology to improve people’s livelihoods around the world. I will dedicate the resources I have gained from co-governing the network to causes that will benefit and empower society.”

Sun hopes to inspire others to use blockchain to make a positive impact. Binance followed with further news, announcing it will donate 100% of listing fees to BCF to encourage adoption.

BCF is now live and will publish donations and transactions on a blockchain explorer website.

Sun, Zhao, the BCF and the UNDP met at the UNDP in Geneva on October 24, 2018.

Suggested Reading : Learn more about the TRON platform.

TRON’s Success

TRON is now one of the largest blockchain networks, having only launched its mainnet in June, 2018. An upgrade on October 12, 2018, added the TRON Virtual Machine (TVM) and further smart contract functionality, which has accelerated TRON’s adoption.

Sun is going up against blockchain platforms Ethereum and EOS in the growing race to gain patronage for their technology. This week, the number of transactions on the TRON network exceeded those on the Ethereum network for the first time.

Since the TVM’s launch, the number of decentralized applications (dApps) on the TRON network has more than doubled, reaching 49 including those in development. The number of mainnet accounts on TRON has also grown rapidly and is now over 500,000. This is substantial growth, given it’s just four months since the TRON mainnet went live.

Reports indicate that compared to Ethereum’s first four months, TRON has achieved 13 times more accounts in the same period. Compared to EOS, TRON has achieved 20 percent more mainnet accounts.

Though October has been a fantastic month for TRON in figures and in the press, the value of the TRON coin has yet to see the impact. TRX is currently holding steady at a value of $0.02.

The post TRON Backs Binance’s Blockchain Charity Foundation, Network Hits Record Daily Transactions appeared first on BitcoinLinux.

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