“I just burned 800 million USD worth $TRX ERC20 tokens”, says Justin Sun, the founder of the TRON foundation. “$TRX ERC20 tokens will soon become historical artifacts. Don’t forget to keep one as a souvenir,” he added.
— Justin Sun (@justinsuntron) November 1, 2018
The TRON project’s ERC20 tokens, hosted by the Ethereum blockchain, have become obsolete since the project launched its native blockchain.
The ERC20 tokens, in fact, had been migrated to the main TRON blockchain, where they now operate independently of Ethereum.
What is TRON?
TRON aims to build a content distribution service using a push-based system for content creators.
Using blockchain technology and distributed storage, TRON intends to develop a decentralized ecosystem of content entertainment.
TRX token owners can freely publish, store and own data. In short, TRON aims to be a peer-to-peer version of iTunes or Google Play Store.
The development of such an ecosystem is not easy, but the Tron Foundation seems to be motivated to invest as much as possible to increase the chances of success.
TRON acquired BitTorrent some time ago, and eventually got the better of competitors like NEO.
And now, after the acquisition, BitTorrent is a super representative of the TRON network.