TRON Gambling dApp Has Paid out Nearly $5 Million in TRX, Justin Sun Points Out

Justin Sun, the CEO of the TRON Foundation, has recently pointed out via social media that the TronDice decentralized application (dApp), has paid out over 200 million TRX tokens, at press time worth over $4 million.

The figure, according to the dApps’ website, is now at 243 million TRX, which equals $4.8 million as one TRX token is currently trading at $0.022, according to CryptoCompare data.

The TronDice dApp is notably one of the first ones to have been launched on the TRON blockchain, and is essentially a gambling game that lets users pick a number between 2 and 100. The game’s smart contract randomly generates a number between 1 and 100, and determines whether the player wins or loses according to his choice, based on its odds.

To play, all users need to do is create a TronLink wallet, fund it with TRX tokens, and connect it to the game. The dApp is similar to others found on several other blockchains, as gambling appears to currently be one of crypto’s biggest use cases.

TronDice’s success comes shortly after TrobBet, the first dApp to be launched on the cryptocurrency’s blockchain, managed to surpass the 200 million TRX payout mark. As CryptoGlobe covered, TronBet managed to be played over 10,000 times on the day it was released.

The game was so popular that it help TRON overtake Ethereum in daily transaction volume. The TRON Foundation has last month revealed the number of accounts on the crypto’s mainnet has surpassed 500,000, maintaining a 100,000 per month growth.

As of October 16, the Foundation further claimed that 90 smart contracts had been deployed on the network after it was launched nearly one week before. Earlier, as covered, TRON acquired the popular peer-to-peer file sharing platform BitTorrent for $140 million.

Recently, the TRX token surged after Sun announced a mysterious partnership with an “industry giant.” The partnership turned out to be a simple cloud computing deal with Baidu. The move drew criticism online.

Those Banned From Facebook May Not Be Able to Use Its Cryptocurrency Libra

Facebook’s two days of congressional hearings on the social media giant’s cryptocurrency ambitions seemingly revealed that those who have been banned from Facebook may not have access to Libra.

During the congressional hearing Facebook had to answer some tough questions, and one of them came from Representative Sean Duffy, which asked the company’s cryptocurrency head, David Marcus, who’ll have access to Libra.

The Congressman initially asked Marcus who could use the cryptocurrency, to which Calibra’s CEO answered: “anyone that can open a Calibra account, that can go through KYC [know-your-customer checks] in countries where we can operate.”

Duffy then referenced two individuals banned from Facebook for violating its community guidelines, Louis Farrakhan and Milo Yiannopoulo, and asked whether they’ll be able to use the social media giant’s cryptocurrency.

Marcus ended up replying he doesn’t “know yet,” after seeing Duffy hold a $20 bill and ask hin who can use it. His point was that cash doesn’t discriminate, and that anyone who can hold it can use it.

While throughout the hearing Marcus tried to point out the company will follow appropriate regulations and comply with lawmakers, Duffy responded that a proper answer would be “as long as you abide by the law, you can use Libra.” The fact he didn’t get this answer, Duffy said, gave him “great pause.”

Speaking to The Daily Beast Elka Looks, a Facebook spokeswoman, clarified Marcus addressed the Congressman’s concerns later on in the hearing. She stated:

For Libra, anyone who is engaging in lawful activity will be able to transact on the network. Facebook will have no say. For Calibra, there is no policy in place yet, but we will share it when it is closer to being finalized.

The news outlet adds that Calibra, Facebook’s wallet to send, receive, and hold Libra, doesn’t yet have final terms of service or a privacy policy. All of this means that those who’ve been banned on Facebook may not have access to its cryptocurrency.

As CryptoGlobe covered, Congressman Warren Davidson implied during the hearings Facebook’s crypto is a ‘shitcoin’ as it doesn’t have some of the properties bitcoin has. The Congressman made it clear bitcoin has no central authority that can censor transactions or dilute its value, while Libra has the Libbra Association.