The up-and-coming exchange RightBTC has announced that it will be running for the Tron Super Representative Election. The election, which takes place on June 26, 2018, will be a major step towards radically changing the way the Tron ecosystem will be governed.
RightBTC is one of only a handful of other exchange-based candidates in the running, giving it a competitive advantage. Arguably, it would be fitting that an exchange should win the Super Representative election as they already have experience running their own ecosystem and can use their knowledge to lead the community fairly. RightBTC has also chosen to invite Metaverse to be their technical advisor should they win.
In an open letter, Justin Sun, the head of Tron, explained his intentions regarding the Super Representative (SR) elections. The SR election is an attempt at further decentralizing the Tron network. In the letter, Sun states: ‘I have always believed deeply in the values of [the] sovereignty of the people, and natural rights of the people.’ He further argued that Bitcoin, Ethereum, and most other cryptocurrencies are ‘oligarchic system[s]’ as all the decision making power is held by miners, and lead developers, meaning that coin and token holders have no say regarding the decisions of a currency. Tron is making their coin more democratic as a means of avoiding this.
The winning SR will play the key role in decision making and crypto-specific political decisions. At the moment, that means the SR will govern the decisions of around one million Tron holders. Their duty is to listen to the requests and desires of the people and action those that it finds beneficial to the community.
If RightBTC wins the election, they will become a necessary element of Tron’s ecosystem for the foreseeable future and will be at the forefront of the next wave of crypto, in which regular users are given a voice in the industry.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.