TRON: No.80 Committee Proposal Officially Approved

TRON, the blockchain-based decentralized platform founded by Justin Sun has officially approved Committee Proposal 80 which proposes to modify the No.68 network parameter.

The committee proposal was created last December 12th and it has received 21 upvotes out of the 27 different Super Representatives on the TRON blockchain.

As of today December 16th, the No.80 committee proposal is already in effect.

What is Committee Proposal 80?

Committee Proposal 80 is a voting request for the No.68 network parameter by BlockAnalysis.

The modification of the previous network parameter resulted in charging a fee of 1 TRX for transaction memos and for the previous months, there have been reports that thousands of transactions use memos to broadcast fake news and scam links.

As mentioned on TRON’s Medium Page:

From July 1, 2022, to October 1, 2022, TRON saw 18,136,783 transactions with memos, of which 7,725,151 transactions were with URLs, which accounted for 42.59%. We can clearly see that these memos with URLs are almost all deceptive, they hope users will open the URL and jump to the scam they designed.

7,725,151 transactions with a memo with URL, of which 6,935,193 are TRC10 transfers, accounting for 89.77%, indicating that scammers prefer to use low-cost TRC10 transactions to implement their scam plans. If each memo needs to pay 1 TRX, the cost of scamming in these 3 months will reach 7,725,151 TRX, which will be a huge challenge for scammers.

The approved No.80 Committee Proposal will increase the cost of transaction with memo and reduces the number of low-value transactions with memo while improving the security and reliability of the TRON ecosystem.

What is TRON?

TRON is a blockchain-based decentralized platform founded by the former TRON CEO, Justin Sun in 2017 and it aims to create a free, global digital content entertainment system with distributed storage technology that allows easy and cost-effective sharing of digital content.

It has a native cryptocurrency called Tronix or TRX and the company is dedicated to building the infrastructure for a truly decentralized internet they have added blockchain support to different fields such as DeFi, NFT, and GameFi.

TRON and its TRC20 tokens are the authorized digital currency of the Commonwealth of Dominica.

For more news and updates, see Tron Spark.

Jino Tokieda

Meet Jino Tokieda, a skateboarder for over two decades and a proud father of two. Jino is a unique individual, as he is a Japanese Filipino, and brings a unique perspective to his writing. With over 21 years of experience in the skateboarding world, Jino has a wealth of knowledge and experience to share with others. In addition to his skateboarding career, Jino has also worked as an account executive for a global photography company, giving him a diverse background and a unique perspective on the world. Since 2020, Jino has been writing articles for Tron Spark and has been involved with the TRON crypto community for a few years. With his vast knowledge and experience, Jino is sure to provide valuable insights and information to his readers.