TRON was in the headlines since the last one month, over its migration from Ethereum to its own mainnet, and also rewarding users for migrating from ethereum mainnet.
Yesterday, TRON, one of the largest blockchain based operating systems in the world successfully launched their Mainnet. It is the most popular and discussed event inside the crypto-world. CEO Justin Sun announced
“Today I announce with confidence that the development for the Tron mainnet Odyssey 2.0 is complete. Starting today, the Tron community will be able to download and run Tron’s official mainnet, Odyssey 2.0, on the Tron GitHub page.”
Right after the launch of their Main Net, Justin Sun announced a reward for whoever finds any errors in the Main Net. Justin tweeted,
“Calling all developers! #TRON main net is live on #github and we’re offering up to $100K in #bugbounty rewards. Bring your A game.”
In this way, TRON can fix issues if found any. This move is to ensure a proper firewall and preventing future malfunction in the TRON system.
Now that TRX is leaving its roots as an ERC20 token, the blockchain will be powered by 27 “Super Representatives” who have yet to be selected. They are currently competing to host the backbone of the network and will be selected in a vote by TRX hodlers. The model is far different than Ethereum, which allows anyone to spin up a node. Currently there are more than 15,000 Ethereum nodes online.
Tron says the model will lead to a huge jump in the speed of its transactions. In fact, Sun has promised its transaction speeds will be “hundreds of times” faster than Ethereum, with a network capacity of 10,000 transactions per second.
June 25th will be marked as Tron’s Independence Day, post migration of tokens. With 1.08 million TRX holders, Tron is the number one token on Ethereum leaving behind EOS with 360K.
TRX’s market price has not responded strongly in the short-term to the new developments. TRX is currently trading at $0.06, down 0.3 of a percent over the 24-hour period to press time, and down around 14 percent from $0.07 on the week.
The cryptocurrency has nonetheless succeeded to garner a market cap of almost $4 billion, provoking sharp criticism from Ethereum co-founder Vitalik Buterin, who referred to TRX’s pricing as an example of an overvaluation that was “far ahead of” its actual accomplishments.
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