Justin Sun Posted an Update About Enhancing TRON Network’s Governance and Development

TRON Proposal 51 Published With a Focus on Increasing Bandwidth and Energy Fees

A new article is posted on TRON Foundation’s blog titled: “Justin’s Open Letter On How TRON Network Will Enhance Its Democratic Governance And Development In The Future.”

As the name implies, it’s a letter from TRON founder Justin Sun about developments and improvements in its governance system. Sun talks about two proposals – No47 and No48 – from community members that significantly affect changing the governance protocol. According to the post, Sun says:

“Unlike many public chain projects that have flopped, this year TRON network has surpassed Ethereum to be the busiest public chain across the industry. If Bitcoin is the digital gold, it is safe to say that TRON is the digital petroleum; if Bitcoin is the foreign exchange reserve for the digital world, then TRON is the economic necessity that you cannot live without.”

TRON’s founder continues his article by pointing to 1.7 million daily transactions processed on TRON Network daily. He talks about his and the Foundation’s plans to make TRON more efficient and faster. He says decentralization and security are among the top priorities of the TRON Foundation.

As mentioned before, the governance mechanism and guidelines in TRON Network are Sunn’s letter’s main topics. He says about the current governance mechanism:

“Therefore, TRON is committed to its core security and governance principle of encouraging TRX holders to participate in staking and governance of the network. TRON needs not only token holders but holders who lock up their tokens for staking and voting, just as a country needs not only general citizens but responsible citizens who participate in democratic governance and voting.”

Sun believes the plans for improving the governance system in TRON need better incentives for stakers to get better rewards for their participation. 

Justin Sun talks about priorities in future developments in TRON networks at the end of his letter. He believes the governance mechanism should choose the way to adjust the incentivize system. According to his letter, incentives should prioritize long-term TRX holders and stakers. 

The other essential plan for TRON in Sun’s letter is the layer two network. He adds at the end of the letter:

“We expect to build a virtuous cycle to transform TRON into a fast, efficient and ultra cost-effective decentralized network centered around a well-established incentive and governance mechanism, and continue to consolidate our advantageous position as the most important infrastructure and layer 2 network in the industry.”

If you found this article interesting, here you can find more Tron TRX news