Altcoins, Price Watch, Tron

TRON (TRX) Independence Day – Project Officially Breaks Away from Ethereum

TRON (TRX) Independence Day – Project Officially Breaks Away from Ethereum

TRON, the tenth largest cryptocurrency by market cap, celebrates a momentous occasion as TRON’s “Independence Day” is in full swing and token migration concluded June 24th, 2018.

The ERC20 TRX token swap began just four days ago and the new TRX tokens fully supported on the TRON mainnet were released to investors Monday. A total of 36 cryptocurrency exchanges participated, aiding TRON in gaining its independence from the Ethereum network.

Like EOS, the TRX token was an ERC20 token held and supported on the Ethereum blockchain. The TRON developers tested the mainnet for three weeks before initiating the token swap.

Odyssey 2.0

TRON’s highly awaited mainnet, Odyssey 2.0, was released on May 31st, 2018, – without a glitch.  In less than a year, the TRON Foundation managed to raise $3 billion dollars, grow its team to over 200 individuals, and released the first step to its “decentralized internet.”

Justin Sun, TRON’s founder, told CoinDesk:

“This is just the beginning of the decentralized internet – it’s not the end…For right now we don’t have a full picture.”

Currently, the TRON mainnet has 254 nodes worldwide. While TRON’s whitepaper was removed from the project’s revamped website, the full vision for TRON isn’t set to be completed.

TRON Super Representatives Election

Voting started on June 25th,  for the 27 “super representatives” that will support the governance of the TRON Network. Currently, 42 representatives are running in the election, but only 27 will be chosen to take the role of a Super Representative.

TRON’s Official Medium Blog reads:

“After all 27 SRs take over governance of the TRON network, TRON main net will enter the Constitutional Phase, where the system is co-governed by the entire community. This is the ultimate phase of an independent TRON main net. […] The elected SRs will accept the responsibilities of governing the main net and providing support for subsequent SR elections, which are held every six hours.”

Very similar to the EOS block producers, the more TRX one holds, the more voting strength one holds. In addition, some Super Representatives announced that they will pay dividends to their voters.

TRON | TRX

Updated: August 18, 2018 at 9:51 pm PDT
$0.04 | 0.56%

TRON, currently ranked #10 by market cap, is down 0.56% over the past 24 hours. TRX has a market cap of $2.74B with a 24 hour volume of $142.09M.

Chart by CryptoCompare

TRON is down 0.56% over the past 24 hours.

Cover Photo by Nuno Antunes on Unsplash

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Chelsea Roh

Chelsea Roh is a freelance writer. Her current focus is blockchain technology and cryptocurrency. Chelsea currently lives in Winnipeg, Manitoba with her husband. In addition to content writing, she is an experienced SEO and Social Media Strategist. Before moving to Canada, she spent 10+ years marketing and working hands-on in the medical practice industry in the US.

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