TRON (TRX) Founder and CEO Demonstrates His Support for Net Neutrality

Siamak Masnavi

On Thursday (1 November 2018), Justin Sun, the founder and CEO of TRON Foundation, announced his support for net neutrality, and demonstrated this support with a $10,000 pledge to DonateForNetNeutrality.com, a crowdfunding effort by the non-profit organization "Fight for the Future", which was founded in 2011 with the mission of ensuring "that the web continues to hold freedom of expression and creativity at its core." The goal of this organization is "to build tech-enhanced campaigns that resonate with millions of people, enabling them to consolidate their power and win historic changes thought to be impossible."

Net neutrality "is the principle that Internet service providers treat all data on the Internet equally, and not discriminate or charge differently by user, content, website, platform, application, type of attached equipment, or method of communication."

Fight for the Future's latest campaign is about putting pressure on the U.S. Congress to save net neutrality -- which was killed on 11 June 2018 following a vote by the Federal Communications Commission (FCC) in December 2017 -- by passing legislation that would "effectively force the FCC to bring back the rules the FCC approved in 2015." Under the Congressional Review Act (CRA), "Congress, with the approval of the president, can not only reject regulations issued by a federal agency but effectively bar that agency from taking similar action again."

The DonateForNetNeutrality.com website says that although the Senate has already passed a resolution, "now the House is running out of time to do the same." It further says that the money being raised will be used to the following:

  • "Flood Congress with phone calls, tweets, and emails"
  • "Run crowdfunded billboards, newspaper ads, and online ads"
  • "Organize in-district actions and events"

Here is how Justin announced his support for this campaign on Twitter:

The press release by the TRON Foundation says that Justin's $10,000 donation will "help fund efforts to educate voters in key districts across the country to vote pro-net neutrality and support lawmakers to reverse the decision that ended net neutrality." This donation comes shortly after TRON's "initial pledge of $3M to the Blockchain Charity Foundation headed by Binance."

The press release also contained the following quote from Justin:

"Given my deep belief in an open and decentralized internet, I support Donatefornetneutrality.com and urge others to do the same in this critical moment where Congress can still act in favor of net neutrality. When the internet is free and open, it fosters innovation that benefits not just a few, but all of us. It's our responsibility to protect these core values and push our community towards the cause."

Justin, who is also the CEO of BitTorrent, apparently "plans to energize support from the BitTorrent community of over 100M users." BitTorrent "has a long-standing history of supporting net neutrality and also Fightforthefuture.org and Donatefornetneutrality.com through campaigns that have urged tens of millions of users to get involved."

Featured Image Courtesy of the TRON Foundation

Ethereum-Based DeFi Project Reportedly Grew Nearly 780% Last Year

Decentralized finance (DeFi) projects based on the Ethereum blockchain have grown by 778% when compared to the first quarter of 2019, driving growth in the decentralized application space.

According to a report published by DappReview, compared to the first quarter of 2019 the total value of transactions made on decentralized applications grew by 8.2.2% to $7.9 billion, across a total of 13 different blockchains.

The top three blockchains – Ethereum, TRON, and EOS - contributed a total of 99.1% of the volume. The report notes that both TRON and EOS, however, lost users and transaction volume year-over-year, while Ethereum kept on growing.

This growth saw decentralized finance projects increase 778% compared to the first quarter of last year. Notably, these grew even though the total active addresses interacting with decentralized applications dropped by 22.1%.

The report notes that on the Ethereum blockchain, the total transaction volume on decentralized applications during the first quarter of the year was of $5.64 billion, an increased of 652% compared to last year. The report reads:

The main growth was driven by DeFi projects which have become the growth gist of Ethereum since 2019, with the largest transaction volume. It is worth noting that most of the volume of DeFi projects are in ERC-20 tokens (such as WETH, DAI, USDC, etc.), rather than the native token Ether.

ERC-20 tokens, it adds, made up 84% of the total transaction volume. Per DappReview the Ethereum dApp ecosystem “remains diverse and the performance was very steady compared to the other blockchains.”

The report further notes that casino decentralized applications, which were popular last year, saw their volume drop 64.6% year-over-year, while still remaining among the top three sectors when it comes to active addresses.

As CryptoGlobe reported, earlier this year the total value locked in decentralized finance apps hit a $1 billion all-time high, before dropping over one project being exploited through so-called flash loans, and over the value of cryptocurrencies going down.

Cryptocurrency wallets have also been making it easier for users to earn interest on DeFi platform, with Coinbase wallet integrating support for these project late last month.

Featured image via Pixabay.