Home Cryptocurrency Altcoin Tron (TRX) moves forward with two important updates

Tron (TRX) moves forward with two important updates

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Tron Foundation announced today that a full list of Tron’s Incentive Plan winners has been finalized. This plan was launched on June 19, 2018 and offered to reward outstanding dApps running on the Tron mainnet with an impressive bounty of $20,000 USD per project.

As per standard practice, the completion of the list was announced in a tweet made by Justin Sun on July 7th:

“Check out the winner list of #TRON Incentive Plan, 10 winners got rewarded with $20K. We welcome more developers to join! Thanks for your support. #TRX $TRX”

The contest was basically a programming competition designed to motivate developers to start using the Tron mainnet to develop and run their applications. The winners were handpicked by Tron’s “product technology committee,” which accepted the submissions rated them according to their “creativity and technical strength”. The list of dApps wasn’t very creative or innovative to be honest, as the winners focused on developing blockchain explorers and wallets for your TRX tokens. However, technical excellence was surely achieved and the projects will be properly rewarded for that.

Ultimately the purpose of this program was to create a big, vibrant developer community for Tron. A platform can be as technically sound as the next one but will struggle if no people are willing to develop on it. The Medium announcement posted by the Tron foundation explains this well:

“The implementation of the Incentive Plan shows Tron’s readiness to support more outstanding community developers for better user experience in a better Tron ecosystem. Now that the mainnet has been launched officially, Tron encourages the development of more high-quality DApps and the participation of more teams in Tron’s development towards a thriving Tron ecosystem.”

The Tron community reacted well to this announcement, congratulating the team and renewing their hopes that TRX is heading to the moon.

In other news, TRX mainnet is live, but exchange withdrawals apparently still aren’t. Many Tron holders have been complaining about being unable to access their funds and exchanges not switching their tokens by now, even though the mainnet went live on June 25th. To encourage Tron holders, Justin Sun and the Tron foundation made two announcements.

First, Sun tweeted out that Huobi Pro will officially start allowing users to withdraw their new TRX mainnet coins from July 8th, 14:00 (GMT+8). After the TRX main chain is launched, Huobi Pro will no longer support withdrawal of the old TRX ERC-20 coins.

Sun followed this up by tweeting out an update regarding the exchange which currently services the biggest community of TRX holders, Binance. His tweet said:

“#TRON’s mainnet has been running smoothly since June 25(UTC+8). The technical teams from @Tronfoundation and @binance are working closely to push forward the migration. Deposit and withdrawal services are expected to be provided within next week.#TRX $TRX”

As of now, it seems that any concerns Tronix harbored about not being able to withdraw their TRX have been baseless; major exchanges are still very supportive of Tron and its mainnet swap. More details about this will be known during the upcoming week.

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CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.

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