In brief
TRC721 (#NFT on #TRON ) document is ready! https://t.co/ueY9qvs70m
— Justin Sun🌞 (@justinsuntron) March 16, 2021
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-0.28%Reading
Specification for TRC-721, the first non-fungible token (NFT) standard on the TRON blockchain, has been made publicly available, the project’s CEO Justin Sun has shared via a tweet.
According to the document, which contains technical descriptions of token issuance using the TRC-721 standard, TRC-721 is a set of standard interfaces for issuing NFTs on the TRON network and is fully compatible with ERC-721, the standard used for creating NFTs on the Ethereum blockchain.
TRC721 (#NFT on #TRON ) document is ready! https://t.co/ueY9qvs70m
— Justin Sun🌞 (@justinsuntron) March 16, 2021
As per the paper, NFTs can be issued on the TRON blockchain with the help of the TronLink extension for Chrome, with users requiring a minimum balance of 350 TRX (around $18.3 at current prices) in their account in order to issue NFTs. Users can customize the name and symbol of the token when issuing.
First announced in December 2020, TRON's NFT standard aims to open up new possibilities for applications built on its blockchain. In the long term, it could also add to the growing pressure on Ethereum from rival NFT platforms such as Flow. While Ethereum remains the dominant force in the NFT ecosystem, ETH transaction fees have soared amid the NFT boom—something the smart contract platform hopes to address with its impending move to Ethereum 2.0's proof of stake consensus mechanism.
TRON, on the other hand, claims to combine low transaction fees with almost instant settlements. According to the Tron Foundation, the protocol has been running for almost three years “without any incident,”–although it was a target of a malicious attack in November 2020 which resulted in a temporary halt in the production of new blocks.
Crypto artist Beeple made history yesterday with the sale of an NFT collection of digital art for $69.3 million. The sale of EVERYDAYS: THE FIRST 5000 DAYS at Christie’s auction house is the third most expensive piece of artwork sold by a living artist—and Justin Sun, founder of cryptocurrency platform TRON, narrowly missed out on winning the bidding war. Sun’s final bid—at least, the final bid received by Christie’s—was just $250,000 short of the winning bid. “My final effective bid was $60 M...
The publication of the TRC-721 technical description comes in the wake of Justin Sun’s narrowly missing out on winning an NFT auction held at Christie's. The NFT, by digital artist Beeple, sold for a record $69.3 million—with Sun's final bid beaten by just $250,000. Prior to that, Sun threw his hat in the ring in a battle for an NFT of Jack Dorsey's first tweet, bidding as much as $1 million for the token.
The Solana network briefly processed more than 100,000 transactions per second (TPS) in an on-chain experiment Sunday. That’s more than 25 times the network’s typical throughput, according to data gathered by the network’s explorer. Solana already massively outpaces O.G. blockchain networks like Bitcoin and Ethereum on that front, but the Sunday peak beats Visa's own high mark of handling up to 65,000 transactions per second. The Solana validator operator behind the feat said that it showcases w...
Qubic attempted a 51% attack against privacy blockchain Monero last week. It ultimately fell short, an independent report found, but the AI protocol is continuing its pursuit and seeks to change the privacy-centric Monero network forever. Now, Qubic is setting its sights on Dogecoin for its next experiment, although there are currently no plans for a similar type of attack… yet. The new target came via a vote in Qubic’s Discord server, which saw Dogecoin beat out two other proof-of-work blockcha...
A MetaMask stablecoin could debut as early as Thursday, a source knowledgeable of the initiative confirmed to Decrypt. The Ethereum wallet provider, which will team up with payment services provider Stripe, will introduce the mmUSD stablecoin as the main trading pair for its various services, according to an Aave governance proposal that appeared last week but was subsequently deleted. DLNews first reported on the deleted proposal. Stablecoin platform M^0 is reportedly supporting the effort. Me...