Tron (TRX) has begun the transformation from Ethereum platform to its public blockchain. Tron is the 10th largest cryptocurrency. The initiative to move the $4 billion cryptocurrencies to a single network was launched on May 31.
The Tron mainnet classified as Odyssey 2.0 will hang on in beta, the best part, until June 25th. This will enable developers to set up their wallets and browsers before it starts to run on its native blockchain.
From 21st June to 24th June is the time the token transformation will take place. During the time, subscribers must deposit their ERC-20 tokens at one of the current cryptocurrency trading platforms that support Tron. They will receive similar integer of TRX on the new network.
25th June is the day the progression will end. Developers have dubbed the day as ‘Independence Day’, a day when the Genesis block circulating across the network will get discerned. Investors are optimistic that Tron will be an Ethereum Killer.
Justin Sun, founder of Tron said in a statement:
“The neutrality of our contract is a weighty action in ushering the next phase of the internet through decentralization and democratization”
Mr. Sun continued,
“As we proceed to become a popular joint blockchain, our team has retained the honest degree of excellence. Developers will break easier from Ethereum because of the TRON Protocol movement to MainNet. It will open avenues to ascend better, commercialization and open doors needed for global dApp development.”
Tron still functions as an ERC-20 token on the Ethereum platform. Despite the high-profile wrangles, TRX tokens have risen in the market cap charts.
EOS, which is the 5th largest cryptocurrency, raised about $4 billion through yearlong initial coin offering (ICO). The crypto also launched its very own Mainnet (and its prices has started to rise since then). So, in this situation, Tron isn’t isolated.
During the short-term price adaptation, confidence surrounding Tron’s mainnet launch did not get revealed. The price of Tron slumped 5% ahead of the unveiling. This had to do with the volatility of top 10 cryptocurrencies in the market, though. Experts see Tron shooting to the moon once its Mainnet, Odyssey 2.0, settles down on June 25th. At the moment, one TRX token is valued at $0.059 (still very cheap to buy in bulk, good opportunity).
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