BitTorrent foundation is finally going to initiate the first airdrop of BitTorrent (BTT) today at block height 6.6 million to Tron (TRX) holders. It would involve the airdrop of 10,890,000,000 BitTorrent (BTT), corresponding to 1.1 percent of total supply.
BitTorrent Foundation also plans to airdrop additional 99,990,000,000 BTT that is 10 percent of the total supply to long-term Tron holders during online and offline events.
There is no minimum TRX required to qualify for BTT airdrops. Everyone who is holding TRX and all officials wallets relaying on Tron network and carrying TRX are eligible for BTT airdrops, in the ratio of approximately 1 TRX = 0.11 BTT.
Longest Airdrop in History
BitTorrent airdrop is not going to be just one-off event rather it is a gift that will keep on giving. According to the official announcement,“Over the next 12 months following this initial airdrop, 11,880,000,000 BTT will be offered to TRX holders, corresponding to 1.2% of total supply. In 2020, the BitTorrent Foundation will airdrop 12,870,000,000 BTT, corresponding to 1.3% of the total supply, and over the next six years, the percentage airdropped will increase by 0.1% per year, reaching 1.7% in 2025.”
Tron Founder and BitTorrent CEO, Justin Sun has this to say about TRX and BTT’s integration into BiTorrent,“Think of Tron and BitTorrent like a razor and a blade. You need both together to create a new internet economy driven by decentralization. We are seeding BTT to deliver a marketplace of innovations and applications across the web.”
Tron Founder Takes a Jab at Ethereum Founder
Meanwhile, Sun doesn’t let go any chance to take a jab at Ethereum or its co-founder Vitalik Buterin.
Recently we reported how Sun announced a “secret campaign” for Buterin over him choosing BitTorrent as the proved “real long lasting use case for decentralized applications” back in 2017. Just last week, Buterin had taken a jab at Tron with,
Well, now Sun’s followers on Twitter has reached 835k in comparison to Buterin’s 832k and he is not letting it slide unnoticed.
On the price front, at the time of writing, Tron has been trading at $0.02555 with the 24-hours loss of 0.19 percent. The eighth largest cryptocurrency with a market cap of $1.7 billion is in the red by 0.30 percent in the BTC market.
TRON (TRX) Meets Another Airdrop Token
After the launch of DDOX, another asset, TGOLDE, prepares to start simulated mining on the TRON network.
The age of simulated mining has arrived for TRON (TRX). Just days after DDOS token started touting its game, another asset, TGOLDE, prepares to start simulated mining. This would be the third token within the ecosystem, grabbing network resources that were previously set aside for transactions and distributed app usage.
Even as the first tokens of this type put a strain on the EOS network, and later, on TRON, there is the fear of copycat tokens proliferating. The EOS network has once again expanded to 56 million transactions per day, of which the multitude of transfers belong to the EIDOS token.
The DDOS token has expanded, to a supply of above 36 million tokens. The EIDOS supply is so far unknown.
The TRON DDOS project has even made a call for Super Representatives to switch their resources to mining the token. The claim was made that EOS block producers immediately switched to the new scheme.
While the TRON network still carries highly active distributed apps, on EOS, there is an outflow of users. Beyond the EOS Dynasty game, all other dApps are down to a few hundred users, as producers have to subsidize their players for EOS resources. The simulated mining may also have burdened EOS with resource exploits, stealing from other dApps:
The claim has been made that TRON will not be so heavily affected and will actually have enough spare resources that can be pointed to mining DDOS without harm to other dApps.
Despite the news, TRX has continued to suffer from the recent market sell-off, sinking to $0.015 after erasing 18% this week. The asset is out of the top 10 of coins. So far, crypto social media have not commented the ascent of simulated mining, as the activity is usually situated within apps and the users of MathWallet.
TRX/USD Technical Analysis: The long term picture is not as bearish as bitcoin
- Tron was also not immune to the crypto price drop today as it trades 6.65% lower.
- The chart has not broken major lows as of yet with the next major support at 0.01174.
TRX/USD Daily Chart
Looking at the technicals for TRON on the daily chart it doesn’t seem as bearish as Bitcoin.
Bitcoin and some of the other major crypto’s are making new wave loves.
There are two key support levels that are keeping TRON from being that bearish.
The first is at 0.01174 and the second is at 0.01110 which is from 19th November 2018.
It will be interesting if 0.01500 holds today later on the session on the daily candle close.
Tron and Justin Sun step up the crypto game with the launch of Nile Test Network
Tron has launched several testnets developed by its community since the firm has always claimed its users give the best feedback to the blockchain that way.
Tron has been known for its developments and updates regularly, and its CEO Justin Sun has been the spearhead in reaching out to the masses. Keeping with its trend, the Foundation recently announced the launch of the Nile Test Network made by the Tron community on the TRX blockchain. The official tweet from the Tron Foundation read:
The Nile Test Network’s public Full Node is at 220.127.116.11, 18.104.22.168, while the test network’s browser can be found at http://22.214.171.124:9000/. Following the release of this news, a majority of the community was thrilled at Tron’s inclusivity programs. Tron has launched several testnets developed by its community since the firm has always claimed its users give the best feedback to the blockchain that way.
The Justin Sun led company has also asserted several times that as the number of developments goes up, the value of the cryptocurrency will proportionately go up too.
At press time, however, the entire cryptocurrency market was amid a price pullback after the bear attacked the market midweek. As Bitcoin fell, the rest of the cryptocurrency market followed suit, including Tron. The cryptocurrency was trading for $0.017, with a total market cap of $1.13 billion. TRX’s market volume had fallen to $1.13 billion, coincidentally the same amount as the market cap.
The Nile Network comes on the back of several other testnets on the Tron blockchain, with the Sun Network being a significant example. The Sun Network works as a second-tier solution for the Tron network with the potential for covering a more substantial amount of transactions than the current blockchain. During the launch of that particular testnet, Justin Sun had tweeted:
“SunNetwork Testnet Has Officially Launched. The overall solution of SunNetwork will provide unlimited scaling capacity for TRON MainNet, bringing in more possibilities to development of TRON’s DApps and entire ecosystem.”