TRON (TRX) Mainnet: What To Expect From The Main Chain Launch
What To Expect From TRON’s MainNet Launch
TRON’s launch is coming closer and the buzz around the event has been increasing as days pass by. The countdown for the event is live on TRON’s website which also has details of the project’s redesign. Let us take a look at the summary of the events that will happen on 31st May.
Currently, TRON does not have it own blockchain, rather, it runs on Ethereum’s ERC20 standard. “Exodus”, TRON’s beta version will be a complete MainNet function testing and wallet product testing. There will also be a complete blockchain explorer testing on the same day. The MainNet will then undergo rigorous testing from the 1st of June to the 24th of the same month. Users will also get test tokens from designated links to test on the MainNet’s Tron Wallet during the same period. The final MainNet testing will be complete by midnight, June 24th.
Super Representative Elections
The next important event will Super Representative Elections which will take place on 26th June. The Super representative candidates will have the possibility to have an accelerated migration just before the elections. For a couple of days (June 25th and 26th), deposits and withdrawals will be suspended in all the exchanges until the elections of the Super Representatives is over.
What Will Happen To TRX Tokens?
If your TRX tokens are currently held on a wallet at a crypto exchange such as Bitfinex or Binance, you don't need to do anything; the exchange will take care of migrating your ERC20-based TRX tokens to native TRX tokens (or coins) on June 25th, and these will be available to you on June 26th.
Major exchanges like Bitfinex, Zebpay, Binance, Bithumb, Coinnest, Gate.io and more have already promised support for TRON’s blockchain upgrade and token migration.
Finally, by 26th June, since exchanges would have completed token migration, there will only be TRX coins on the MainNet.
One thing the Tron Team can be applauded for is their constant communication with regards to the project. It is with this self-evident tradition of the team, that they have provided a guideline to users as to what to expect once the MainNet goes live.
TRX has had a major bullish run in the anticipation of its MainNet launch. Recently it overtook IOTA to become the 9th biggest cryptocurrency by market size (worth about $4.79 billion USD.) Their team thinks they have the potential to become the 6th largest coin by the end of the year.