Justin Sun Becomes Tron ‘Super Representative’, Garners 120mln Votes July 21, 2018 July 23, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsJuly 21, 2018 by Kelly Cromley

Justin Sun Becomes Tron ‘Super Representative’, Garners 120mln Votes

Justin Sun, CEO of Tron Foundation, has been elected as one of the 27 block producers on the Tron Network in a matter of 24 hours after announcing his interest in standing in the Super Representative election. In order to get elected as a Super Representative, a candidate must receive at least 100 million votes (from TRX investors).

As of date, there are only 11 Tron Super Representatives who have won the election. Many of those elected candidates required weeks to accumulate the mammoth number of votes to win the election.

“Super Representatives” on TRON’s network primarily functions as nodes to validate transactions and also lead the operation of the Tron network. In return, the Super Representatives will receive rewards in the form of TRX tokens. Any Tron developer is allowed to run for election and become a Super Representative as long as the necessary votes are secured. One TRX coin equals one vote, with the ability to poll in favor of candidates occurring in a systematic cycle. As many as 60 candidates are presently fighting for the remaining spots.

When Sun announced his willingness to run for Super Representative election on Wednesday, the Tron community greeted him with mixed views. While Sun has been a vehement figure for TRON, frequently marketing and apprising the TRX community through his Twitter account, some investors found fault with the decision as Sun holds a huge amount of the total TRX supply.. However, Sun tried to alleviate Tron community concerns by emphasising that his personal holdings, along with that held by TRON Foundation, totaling 33 billion TRX, are frozen in escrow for the next few years.

Furthermore, Sun clarified that his position as a Super Representative was only one of twenty-seven opinions, as opposed to being viewed upon as the head of the representatives. Prior to his big win, Sun issued the following statement about his candidacy

“I hope that my candidacy will make all the TRX holders, supporters and believers see the significance embedded in voting. I hope it will enable all of us to contribute to the establishment of a truly democratic, decentralized TRON community. Voting allows us to carry on and promote ‘the popular sovereignty and the natural rights’ of the token. Running for SR is a completely personal action on behalf of myself, which means the 33.2 billion TRX locked by TRON foundation will not be participating in the election.”

However, many others did not find any fault in Justin Sun’s bid for SR election, and were supportive of it. Ultimately, Sun easily won the election by garnering 120 million votes in less than 24 hours.

In other news, crypto-to-fiat exchange service Changelly has added Tron to its platform. Most of the leading exchanges have completed token swap only in the last few days. Therefore, the number of TRX transactions on the Tron mainnet is still low, at about 20,000 transactions a day.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.