Four former witnesses have been voted back onto the council of 20 nodes that underpin the Steem blockchain. Their reinstitution follows the withdrawal of votes from major exchanges Binance and Huobi in support of what has been described in an attempted takeover of the network. In a statement issued by Huobi on March 3, the exchange admitted that it had mobilized its customers’ STEEM holdings to vote in favor of ousting the blockchain’s previous validators in favor of Tron founder and recent purchaser of Steemit Inc, Justin Sun: “From time to time, Huobi stakes user holdings to help block malicious …

On March 3, Binance CEO Changpeng Zhao announced that the exchange had removed its votes that contributed to a sudden shift of control over the Steem blockchain. Earlier today, leading exchanges Binance, Huobi, and Poloniex came under fire for allegedly mobilizing customer deposits to vote in what has been described as a hostile takeover of popular crypto blogging platform Steemit. Steemit’s native blockchain Steem uses a proof-of-stake protocol — where a small number of “witnesses” are voted on to secure its network. Votes are allocated according to the number of tokens that an individual holds in their wallet. Steem’s witnesses …

In an interview with Cointelegraph at Tron’s San Francisco office on Feb. 25, Steemit Managing Director Elizabeth Powell expressed enthusiasm regarding the new strategic partnership between Tron and Steemit. On Feb. 14, the Tron Foundation announced it had acquired Steemit, a decentralized social media platform with over 10,000 daily active users. Following the announcement, a great deal of uncertainty arose from the Steemit community. A recent Reddit thread shows Steemit users discussing concern over the future of the STEEM token and the reversible soft fork that Steem witnesses initiated on Feb. 24. Despite recent remarks, Powell told Cointelegraph that Tron’s …

Warren Buffett recently said that he does not own any cryptocurrency, but Tron (TRX) founder Justin Sun begs to differ. Speaking to CNBC reporter Becky Quick on Feb. 24, billionaire Buffett said that he does not own crypto and derided its supposed lack of purpose: “I don’t own any cryptocurrency. I never will […] You can’t do anything with it except sell it to somebody else.” However, on Feb. 25, Sun said in a tweet that he had gifted cryptocurrency to Buffett and that blockchain data proves that the billionaire did not move his gift of crypto assets: “The cryptos …

Justin Sun, the founder and CEO of Tron (TRX), the 15th biggest cryptocurrency by market cap, is investing in a number of cryptos other than Bitcoin (BTC). In a Feb. 23 interview with CNN, Tron CEO said that he is a long-term believer in cryptocurrencies and owns a stake in many altcoins, including the two largest coins after Bitcoin — Ether (ETH) and XRP. Tron CEO predicts that Bitcoin will cross $100,000 mark in 2025 When asked whether Sun has its crypto portfolio diversified, the Tron CEO answered: “I own a lot of XRP and Ethereum, too. I’m like a …

The Tron (TRX) community was beside itself on Wednesday, Feb. 19 after founder Justin Sun’s address was shown to have voted in two Tron Foundation apps as a Super Representative (SR). Both Tron-Ace and Tron-Bet were voted in as Super Representatives by the Zion address, the same account which received 99 billion TRX from the coin’s genesis block. Super Representatives are responsible for overseeing block production on Tron’s blockchain. As such, they receive a sizable portion of the coin rewards from each block. In plain terms, this means that Tron’s community rules were bypassed, arguably to further enrich its own …

Born in China’s Qinghai Province, 29-year-old Justin Sun is the founder and CEO of Tron, one of the largest blockchain networks in the world. Sun, who holds a master’s degree in East Asian studies from the University of Pennsylvania and a bachelor of arts in history from Peking University, launched the Tron Foundation in Singapore in September 2017. Later that year, Tron released its open-source protocol, followed by its mainnet launch in May 2018. Tron’s cryptocurrency, Tronix (TRX), currently ranks as the 14th-highest-performing cryptocurrency in the world. According to the Tron website, TRX is capable of handling 2,000 transactions per …

The Tron Foundation, a cryptocurrency firm that is known for hyping its long ledger of partnerships, appears to have entered a particularly important one today. The maintainer of major cryptocurrency Tron (TRX) has just partnered with Steemit, a major blockchain-based blogging and social networking website to provide its network for Steemit services. Steemit old token STEEM to move to the Tron blockchain, too As part of the strategic partnership, the Tron Foundation will work with the firm to move Steemit and other Steem blockchain-based decentralized applications (DApps) to the Tron blockchain, the firms said in an announcement shared with Cointelegraph …

Last year was an interesting one for blockchain and cryptocurrency, contrasting with past years in ways that go far beyond mere finance. It was a banner year for the maturation of the whole space, and not just in terms of the dollar price of your favorite cryptocurrency. Instead, 2019 has proven to those paying attention that blockchain is more alive than ever, and is exemplified by the growing sector’s most impressive and active participants. 1) Crypto custody and clearing gain momentum Gemini – Owned and operated by Cameron and Tyler Winklevoss, Gemini was already one of the most popular global …

Recent data from crypto data site Coin Metrics shows USDT tokens change locations every eight days on average. “The trailing 12 month velocity of @Tether_to on Omni, Ethereum and Tron has rapidly and consistently increased since September and currently sits at ATHs, where on average each $USDT turns over 46 times per year,” Coin Metrics posted on its Twitter account on Jan. 31. Moving on three blockchains Tether, one of the crypto industry’s oldest stablecoin operations, originally built its USD-pegged token on Bitcoin’s Omni token layer. Tether also operates on Ethereum’s blockchain as an ERC-20 token. Several years after its …

The Tron Foundation will dedicate its 2020 niTROn Summit to Kobe Bryant, an American NBA superstar who died in a helicopter crash on Sunday. Bryant, a “member of the Tron Family” who is known for participating in Tron’s events, died at age 41 in a helicopter crash near Los Angeles along with his 13-year-old daughter on Jan. 26. Following the tragic news, the Tron Foundation announced that the upcoming niTROn Summit, a major Tron-hosted event that will be held from Feb. 29 to March 1 in Seoul, will be devoted to Bryant. Bryant discussed the future of blockchain at a …

Two former employees at BitTorrent, the peer-to-peer torrent client acquired by Tron in 2018, have sued Tron founder and CEO Justin Sun for alleged labor violations and harassment. Unsealed court documents filed in California on Oct. 28 reveal that plaintiffs Lukasz Juraszek, 28, and Richard Hall, 50, are seeking $15 million in damages against Rainberry Inc. (the legal operating entity for the Tron Foundation), Sun and his head of engineering, Cong Li. The plantiffs’ complaint for damages rests on claims of wrongful termination, racial discrimination, a hostile work environment, fraud and whistleblower retaliation, harassment and unfair employment practices, including labor …