Binance launches TRX stacking and becomes the largest block producer in the network

The Binance cryptocurrency exchange became the largest block producer in the Tron network after it launched stacking for its customers, which raises the question of the degree of decentralization of this blockchain.

Since yesterday, Binance froze 12 billion TRX in its wallet and began the stacking process (an analogue of mining in DPoS blockchains). how noted
BeatzCoin, the communications director of the project, who now ranks third in the list of 27 Tron super-representatives (block manufacturers) Misha Lederman, Binance has frozen one sixth of all TRX coins.

“Binance somewhat violated the super-representatives voting system, which was launched on July 25, 2018. They froze 12 billion tokens and used to vote on the network. This could be a precedent for other large cryptocurrency sites, ”Lederman emphasized.

At the same time, the generated TRX will be distributed among the exchange customers who have them on their balance sheets. In a press release
Binance notes that the amount of TRX that a user will receive will depend on the amount of coins belonging to him and on the rewards received by Binance. In order to be eligible to receive his share, the user must store at least 5 TRX (about 7 cents at the current rate). The first rewards to users must be paid before November 10, then they will be distributed monthly.

In August, Tron project founder Justin Sun said the company’s priority is to add TRX cryptocurrency to the US division of the Binance exchange and to the Coinbase site.