The crypto-currency TRON (TRX) is only a few days before its “Independence Day” away. After the Mainnet went live on the 31st of Main, the ERC20 token will be migrated to the TRX Coin from June 21st to 25th, with the ERC20 tokens frozen during this period. What else needs to be considered before the launch and how is TRON going?
To complete the migration, TRON will rely on the crypto currency exchanges that support the token swap. This means for all TRON owners that they have their TRX, if not already done, until 24.06. must send to one of the supporting crypto currency exchanges, with the most popular exchanges performing the token swap. In total, more than 25 exchanges have agreed to TRX migration:
In addition, it should also be possible for owners who have missed the deadline to carry out the exchange of ERC20 tokens to TRX Coin. TRON wants to provide a tool so that later the “old” can be exchanged for the “new” coin.
The TRON Mainnet
The Tron Mainnet went live on May 31st and has been in a trial phase ever since. There is already a bounty program for hackers to test the network for errors and to improve the code. The good news is that everything is going smoothly so far.
The Tron (TRX) Genesis block will be generated on June 25, as long as everything continues to run smoothly. TRON will celebrate its “TRON Independence Day” on this day. With this tag, TRON will have its own fully functional blockchain.
The platform should be able to handle up to 2,000 transactions per second with little or no transaction fees on MainNet. Tron owners can initiate up to 25 transactions per day for free. Creating a new account requires 0.1 TRX, a transaction should cost only 0.001 TRX.
What to expect after Independence Day?
From the 26th to the 30th of June the TRON Super Representatives Election will take place.
In addition to the crypto currency exchanges that will support the election, users can also download the TRON Chrome Wallet V1.7.0. The super-representative elections are to create a completely autonomous community for the TRX token.
There are 100 Super-Representative (SR) candidates to choose from, chosen by the entire TRX token holder community. The 27 SR with the highest number of votes are elected Super-Representatives. TRON SR elections take place every 24 hours every day.
The super-representatives play a key role in steering the TRON community by ensuring basic operations such as block generation. You will be rewarded with every block generation that is 32 TRX per second. Instructions how to choose can be found here (click).
The challenge for TRON could be to gather enough votes as quickly as possible and show that the consensus mechanism works well. For EOS, the change to Mainnet was a bit critical a few days ago, after participation in the election was initially very low.
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