Tron Begins Its Own Public Blockchain
Tron (TRX) which is today the tenth largest digital form of money, has started the transition from the Ethereum network to its own public blockchain.
Tron mainnet-as well as named Odyssey 2.0 – officially started up on May 31 at 12AM UTC, stimulating and originating the first step in driving $ 4 billion cryptocurrency to an independent and separate network.
The network will stay and continue its activity in beta during most of June, giving developers the ability to set up their wallets and browsers before the network goes live. The transition of tokens will take place from June 21 up to June 24, when users have to deposit their ERC-20 tokens on the participating digital money exchanges to get the equivalent amount of TRX on the new blockchain.
The migration will be over on June 25 — a date that developers have named “Independence Day”.
Tron founder Justin Sun stated: “The independence of our protocol is a crucial step in ushering in the next phase of the internet through democratization and decentralization.Our team maintains a high standard of excellence as we head towards becoming a mainstream public blockchain. The move of the TRON Protocol to MainNet makes it easier for developers to break away from Ethereum and opens up new doors towards better scaling, commercialization and express lanes needed for global dApp development.”
So far, Tron has operated exclusively as an ERC-20 token on the Ethereum network, and the TRX token has gradually risen to market capitalization charts, despite the high-profile controversy and the circumstance that the cryptocurrency network has not even started.
In this respect, TRX is not the only one. EOS, at the moment the fifth-largest cryptocurrency, has raised about $4 billion through its annual initial coin offering (ICO) and it is also getting ready to issue its mainnet software in June.
However, Tron price declined five percent on Wednesday ahead of the release, which was the worst performance of any top 10-cryptocurrency. At present, TRX is trading at $0.06.