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. #TRON Independence Day live stream starts now, join us to be part of the free, decentralized internet. https://t.co/M5uzhyfjYf — Justin Sun (@justinsuntron) June 25, 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. Get an edge on the cryptoasset market Access more crypto insights and context in every article as a paid member of CryptoSlate Edge. On-chain analysis Price snapshots More context Join now for $19/month Explore all benefits<doc-sep>The Tron (TRX) Foundation, led by Justin Sun, managed to live up to the expectations of a successful Tron Independence Day. The event, that had a 12 hour Livestream, was what all Tron believers and HODLers were anxiously waiting for. Justin Sun would also comment about the successful launch via twitter when he said the following: The Tron Foundation has since completed its MainNet migration and launched the Genesis block through what Justin Sun referred to as the Tron Independence Group. This is a community consensus-based group that consists of 27 anonymous, volunteer Genesis Representatives (GR). Their key roles included: Providing Super Representatives with a fast track for TRX migration Providing exchange services for major exchanges that support TRX token migration They were entrusted with the 342 million TRX held by TRON foundation and stored them in a distributed manner to reduce risk Organizing the 12-hour livestream Handing out a small number of TRX during the 12-hr livestream so the members of the TRON community could test the different features of TRON mainnet The GRs (Genesis Representatives) will be replaced by Super Representatives when the elections are finalized. The Super Representative Election process will be through an enhanced Proof-of-Stake framework with the aforementioned 27 vacant positions. The Tron Foundation will take a ‘hands-off’ approach to the voting as each Token holder has a say in the election process that will decide the first group of elected leaders of the public blockchain’s block production and network maintenance structure. Super Representatives will also have an impact on the growth of the platform as well as the DApps that will be built on it. The TRON MainNet has been tested and proven to be faster than the Ethereum platform. The fact that it is built using the Java Programming language, makes it more developer friendly moving forward. TRON aspires to establish a meritocracy framework. This will eliminate the energy and expense of Proof-of-Work concepts that have governed other blockchain protocols. TRON will eventually be able to reach a vast market of new users around the globe. Justin Sun is quoted as saying that: TRON is founded on a community of active users who should have their voices heard.The Super Representative Election is the key democratic feature of Independence Day that gives each TRON user a say in the blockchain’s future, and a hands-on role in the way that future will be built. Also to note, is that Binance will continue to facilitate a permanent Token Migration for any TRX holder who did not manage to transfer their tokens to the numerous exchanges between the 21st and 24th of June.<doc-sep>The Tron (TRX) project evidently has grabbed the global spotlight for the past few months. It all began with the release of the TestNet on March 31st. Then there was the release of the MainNet on the 31st of May. The MainNet release was actually moved up and released at an earlier date than earlier outlined in the project’s roadmap. Initially, this was meant to happen on the 1st of July. With the MainNet launched on the 31st of May, three major events are what awaits the Tron Community in the next few days as outlined below: TRX token migration from the 21st to the 24th of June on the numerous exchanges. A permanent token swap platform will be available on Binance for users who will not make the deadline on the 24th of June. Tron Independence Day that is less than 4 days away. The Tron Foundation has already provided an online guide to the event Super Representative Elections on the 26th of June Therefore, with these 3 major events in the coming days, is it possible to predict a TRX price rally as we inch closer to each? Earlier on in the day, Justin Sun had noted via twitter that TRX had edged out IOTA from the number 9 spot. IOTA has since reclaimed the spot but the difference in market capitalization between the two crypto assets is currently approximately $41 Million. This means that as we inch closer to the Tron Independence Day, TRX will edge out IOTA once again. Justin Sun’s goal, is to see Tron (TRX) become a top 6 coin once again. Analyzing the performance of the token over the last seven days, indicates that TRX bottomed out on Monday, June 18th, when it was valued at $0.041. The token is currently valued at $0.048 indicating a 17% increment in 3 days. TRX had also reached a recent peak of $0.0505 on Tuesday, June 19th. Summing it all up, the big questions moving forward are, will TRX manage to stun the crypto markets with a continuation of this rally up until the Super Representative elections on the 26th? Will we see the value get to the elusive $0.10? Or will it be a false take off influenced by the Coinrail and Bithumb hacks? Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.<doc-sep>
The Tron (TRX) foundation, is always on its toes when it comes to communicating events to its TRON community of believers and HODLers. With the Tron Independence Day being 4 days and 22 hours away and at the moment of writing this, emphasis by the team at Tron is on what will happen between now and then. It is with this background that the Tron Foundation has given an online guide to its believers and HODLers, with respect to The Tron Independence Day on the 25th of June. The foundation would like to remind everyone of the important days and processes that will assist in a smooth transition away from the Ethereum blockchain and into the Tron MainNet platform. The online guide provides the following information: The token to coin swap ratio will be 1:1 30 exchanges will be supporting the token Migration The migration will happen on June 24th, 0:00 AM (UTC + 8) Each exchange will offer their own timelines as to when they will no longer accept deposits for the June 24th token swap Check with your favorite exchange with respect to the above On June 24th, 0:00 AM (UTC + 8), the exchanges will begin the snapshots of the token balances Both deposits and withdrawals will be suspended until the process is complete On June 26th (UTC + 8) deposits and withdrawals of the new TRX coins will resume Binance to support permanent token migration after the 24th of June TRX coins will be used for the Super Representative elections TRX coins can only vote for Super Representatives while in the TRON wallet A step by step process for voting has also been provided online Current market analysis indicate that the Independence Day is slowly but surely pumping some life into the value of the TRX token. TRX is currently trading at $0.0477 at the moment of writing this, and up 3.44% in the last 24 hours. This is despite the early morning Bithumb hack that resulted in the loss of $30 Million in cryptocurrencies at the exchange. It seems the cryptomarkets are unshaken by the hack and the market recovery might just as well continue.