TRON Foundation Burns 50 Billion TRX ERC20 Tokens

TRON Foundation Burns 50 Billion TRX ERC20 Tokens

With the TRON mainnet swap underway, the Tron Foundation started the process of destroying, also known as “burning,” its old ERC20 tokens.

On June 25, Tron began migrating its tokens from the Ethereum network to its native blockchain. The transition left two versions of Tron tokens, including billions of old testnet Tron ERC20 tokens under the Tron Foundation control. These tokens will soon be worthless as the new chain stabilizes.

Tron proof of burn
Tron foundation posting proof of 50 Billion tokens burned.

The Tron Foundation posted a screenshot of Etherscan, showing 49,491,130,776.584279 TRX being sent to the Ethereum address 0x0000000000000000000000000000000000000000.

Right on Time

TRON and ZenCash Added As Payment Methods for Pornhub
Related Article: TRON and ZenCash Added As Payment Methods for Pornhub

The Tron roadmap has been precisely accurate so far, with the past several events all occurring on the planned date.

In the past few weeks, Tron announced that it acquired BitTorrent for $140 million and along with ZenCash would become a payment option on Pornhub.

So far, the Tron mainnet swap has been viewed successful, with over 493 nodes currently operating.

TRON | TRX

Updated: Aug 18 at 9:51 pm PDT
$0.04
-2.65%

TRON, currently ranked #12 by market cap, is down 2.65% over the past 24 hours. TRX has a market cap of $2.56B with a 24 hour volume of $151.45M.

Chart by CryptoCompare

TRON is down 2.65% over the past 24 hours.

Cover Photo by Jamie Street on Unsplash

Filed Under: Altcoins, Price Watch, Tron
Austin Tuwiner

Austin is an avid cryptocurrency investor studying computer science and software engineering at Towson University. His hobbies include researching cryptocurrencies, travel, and rock climbing. His goal is to help the average person understand and get into into cryptocurrency.

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