Void: An Hyper-Deflationary Token Created On Tron Network

oluwatosin10 (41)in #blockchain • 5 years ago

Bitcoin which is built first known public blockchain protocol clearly revolutionized the concept of money but since the creation of Bitcoin, thousands of blockchain projects has emerged either as a platform coin that fuel its entire ecosystem operations or as a platform token which fuel the sub-ecosytem which the project token represents. In short, since the advent of Bitcoin for more than ten years ago, things has drastically cut in the industry. We have many projects and platforms now with different concepts, some are smart contracts platform like Ethereum, Tron etc which supports the creation of decentralized applications DAapps, some are infrastructure blockchain network, some are asset backed tokens, some are into gaming, some are into artificial intelligence, some are into e-commerce, some are into big data management etc. In short, blockchain based platform will soon take over many conventional businesses with their concept of decentralization and there will be wider acceptance of it as a means of exchange and mean of storing value. Though there are still some issues that the industry is battling with, but as a young industry it will all be solved.

Similarly as bitcoin was a disruptive financial and social phenomenon, another revolutionary cryptocurrency called Bomb token was made on the ethereum protocol to handle the issues inborn in fixed supply coins, expansion coins and deflationary coins with distinct fascination to their functions in cryptographic money instability and general market soundness. Deflationary tokens have a monetary edge over non deflationary tokens as in it reduce the supply of tokens which additionally expands request because of shortage dissimilar to some conventional tokens with billions of its tokens available for use and nonstop printing or mining of it making it's supply to continue to increase and this influences the cost of such tokens, investors of such tokens are contrarily influenced by such token-financial matters.

Deflationary tokens are another rave of financial disruption in the digital money ecosystem, yet every new thing is imperfect and it fills in as venturing stone for consequent trials to use the stars of its prosperity, and enhance the cons of its failures.One of the upgrades made on the experimentation of deflationary token is VOID Token which has further developed highlights to scale for a superior usecase, VOID is a TRC-20 protocol token built on the Tron blockchain ecosystem.

VOID Token is a TRC-20 protocol deflationary token with key utilities in peer to peer transactions, obscurity and store of value. It has a limited total supply of 10million tokens with a deflationary rate of 3% burnt out of circulation from every transaction made thereby making it’s circulating supply reduce over time and no new tokens can be mined or minted. Void Token is the first deflationary currency on the Tron(TRX) network to implement dApp and staking as one of its many use-cases.

One of the advantages of VOID is to build its money related an incentive by making shortage through it's deflationary component if consuming tokens unavailable for general use, accordingly making more interest as supply diminishes. A one of a kind component that makes this deflationary token emerge among its companions is that token staking highlights intended to be executed to improve its ecosystem, as this would see a greater amount of these tokens bolted unavailable for general use since clients would need to yield more profit from staking their tokens over a predetermined timeframe. advantageously, this would carry more an incentive into the Tron ecosystem and will likewise fill in as an utility token to numerous dApps on the Tron protocol.