Tron [TRX] reveals: Its Blockchain is live, but Token Migration isn’t completed
Tron [TRX] successfully gone live today but its independence from the parent Ethereum blockchain is not yet successfully completed. The $3 billion decentralized internet project planned to accomplish “Independence Day” celebration which would have marked the launch of both its mainnet and the completion of its departure from its former host, Ethereum. But the migration is not completed yet.
Tron [TRX] token migration and initiated its MainNet on June 25, at 10 am. The initiation was carried out by TronIndependent Group (TIG).
According to reports, Tron [TRX]’s “Coin burn encourages a fair distribution of cryptocurrency, helps to control inflation and reward token holders.” Tron is gearing up for its Super Representative elections which is to start on June 26, that is, in a few hours. After the successful completion of the election, 27 representatives will be elected out of the one million proponents. In future, the elected Super Representatives will play a major role in the governance structure of the firm. They’ll be the guardian of the Tron network and actively participate in validation of the network and calculation.
While live streaming Tron[TRX]’s founder Justin Sun revealed that Tron is in the process of migration of the last of its users TRX tokens from Ethereum to its mainnet.
“Probably this election period will go five days or something because lots of the [token holders] need time to get their mainnet tokens.” Each super representative must garner 100 million votes or more to be elected, and each TRX token constitutes one vote.
According to reports from sources, reveals that some users of the platform will have to wait for voting. Through its Tron scan feature, token holders can finish and notice the voting and election process.
After the completion of the election process, community governance over the blockchain will be noted, that’s when they can claim it as independent Tron phase.
Image via Shutterstock
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