TRON have finally moved on to the next phase of their mainnet launch. Today marks TRON Independence Day, the day which finally sees the TRON TRX token move away from the Ethereum ERC-20 protocol, onto a native TRX token within its own blockchain.
To celebrate, TRON have recently completed a burn of 1 Billion TRX, which in turn should help to bolster the value of the new TRX token, over the coming weeks.
— Justin Sun (@justinsuntron) June 26, 2018
There are a few points that TRX holders now need to consider. Foremost, all ERC-20 TRX tokens are still valid until a full conversion has been complete. Conversions can be made at a number of exchanges, more information can be found regarding which exchanges are supporting the token swap, here- https://tron.network/trx
According to a recent Medium post from the TRON Foundation:
“TRON’s mainnet was launched by TRON Independence Group based on community consensus at 10:00 on June 25, 2018 (Singapore time), and has been running smoothly ever since. The migration of TRX from ERC20 tokens to TRON’s mainnet tokens has commenced simultaneously; exchanges that support the migration have started the technical integration. All is going well.”
See more for yourself, here-
So far, so good.
The next phase for TRON, will now see the start of the Super Representative Election, a process that will go on to allow to elect a new super representative team. We will be able to bring more news about this, as the election goes on.
So, what next for TRON and TRX?
As TRON embeds its new blockchain and as the new TRX token takes over, we do expect the value of TRX to start to rise, in line with an increase in market capitalisation. Justin Sun, the founder of TRON and the TRON Foundation aims for TRX to become the second most traded cryptocurrency in the world. Whilst this will take a lot of doing, a migration onto a TRON built mainnet is a pretty good way to start this campaign.
At the time of writing, TRON TRX is valued at $0.040, down 4.02%. We suspect that this negative trend is simply down to the uncertainty surrounding TRX as the token migration rolls out. June has been a poor month for TRX in terms of value, but a great month in terms of the blockchain side of TRON. As it stands, it may take a few months for TRON to really recover from this and get back on track, but ultimately, we could very well see TRON peak back at its recent all-time heights, seeing values of $0.25 and beyond in the not-so-distant future.