With its grand vision of promoting the decentralization of internet and dedicating itself to building decentralized internet infrastructure, TRON has attracted much attention since its establishment in August 2017. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers scalable, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem.
Up to this point, TRON’s performance can certainly be described as remarkable. It is one of the ten cryptocurrencies with the highest market cap and boasts a high level of user engagement. Only a few days into 2018, TRON became the first “x100 cryptocurrency,” which means its value increased over a hundred times. After that, TRON recruited many technical talent, updated its code, and forged its own path.
On May 31, 2018, TRON hosted its mainnet launch in Beijing and livestreamed the event on platforms such as Yizhibo, Periscope, and YouTube. More than 30 million users from Chinese, Russian, South Korean, and Japanese communities all participated in the live. People said they were thrilled to witness this historic moment and expressed their confidence in TRON’s future.
Odyssey 2.0, after being tested for 25 days, reached a community consensus on June 25, 10:00 am (GMT+8). The consensus initiated TRON mainnet and generated the Genesis block, which marks the beginning of a legend of the most competitive public blockchain.
June 25–TRON Independence Day
In fact, the mainnet launch on May 31th already predicted TRON’s independence, which was later realized by the token migration from Ethereum’s ERC20 to mainnet on June 25. The migration made TRON one of the most competitive public blockchains in the world.
Significance of Independence Day:
- The TRX tokens based on ERC20 have served their purpose and need to be burned. Thus, TRON will exchange the ERC20 tokens to mainnet tokens at a 1:1 exchange rate. Users just need to migrate their ERC20 tokens to exchanges that support the token migration to receive the same amount of TRX mainnet token. During the migration, TRON will put a pause on all withdrawals and deposits and will reactivate after the migration. Other transactions won’t be affected.
- In order to pave the way for future development, TRON will start to establish an ecosystem that enables the development of many dApps. However, that will pose great challenges for TRON’s operational and technical capabilities, since TRON will need to have more developers, miners, and token holders to be a part of the system and to be acknowledged by various companies and organizations.
“A day for TRON is as valuable as a year for the cryptocurrency community and ten years for the rest of the world. ” It is evident that TRON will be representing the future of the industry.
Transaction Volume. TRON is now among the five communities with the world’s biggest transaction volume and has 500 million to 1 billion USD transaction volume per day. It is now supported by more than 50 major exchanges from 30 countries and regions with over 100 trading pairs. TRON’s independence from Ethereum is also backed by all the major exchanges across the globe.
Applications. DApps built on the Tron Protocol is starting to take form. It has finished building infrastructures including a blockchain browser and an e-wallet that is compatible with multiple platforms. In Q3, TRON has more than 100 million users, and they will be transferred to TRON mainnet step by step, starting from traditional Internet and Ethereum. Meanwhile, the top three decentralized exchanges and game developers on Ethereum have decided to join TRON Protocol.
Community Governance. Over sixty teams with great diversity are now running for super representatives (SR). Among them, there are world-leading computing power suppliers, exchange representatives with billions of daily trading volume, partner developers of DAPP, and fellow TRON followers.
Team Building. TRON is still recruiting top-notch talents all over the world. So far, the team has expanded to 200 employees from less than 60 in the beginning of 2018, and it is still growing with one new employee a day. Coming from seven countries in four different continents, TRON’s team members have experience working for world-class internet companies such as Alibaba, Tencent, and Facebook. The geographical as well as the cultural diversity empowers TRON in its future endeavors.
Justin Sun, CEO and founder of TRON, said: “TRON has an amazing platform and will march forward with full speed. We take one step at a time and we understand that success never comes easy.” This exact spirit has led TRON to a series of successes, and the June 25th Independence Day is just one of them. The Super Representative (SR) Election on June 26th will make TRON one of the first communities that have the capability for self-governance and free election.
Next, TRON will launch the official version of its online virtual machine, TVM, on July 31th, and finish building its decentralized ecosystem by Q3. The June 25th Independence Day was just a beginning – TRON has not only impressed the entire blockchain community, but also become a legend of the world’s most competitive major public blockchain.