TRON Mainnet Goes Live, Token Swap Still Underway

News
Tue, 06/26/2018 - 10:47
Yuri Molchan
TRX token swap is only 30 percent finished, validator elections have begun
TRON Mainnet Goes Live, Token Swap Still Underway
Cover image via U.Today

TRON (TRX) is now officially celebrating its independence from Ethereum network. However, a lot of TRX holders are still to go through the token migration with the help of the exchanges that support the mainnet launch. Most of the coins are still ERC20 tokens until the whole thing is over.

Justin Sun, the CEO, expects that the token migration will be finished within a few days.

Platforms that support the migration are determined to undertake the coin swap as long as it is necessary in case some investors cannot take part in the process quickly enough.

TRON validator elections

Even though the coin swap still continues, Sun has promised that TRON will proceed with the election of 27 block validators to complete that as soon as possible.

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However, he mentioned that the election process could take up to five days or longer– this depends on how fast the investors will get their new mainnet tokens.

Each trading platform taking part in the process will notify the customers when the token migration is finished.

All token holders, the old ERC20 and new TRX ones, will have a chance to watch the election using the platform’s Tron Scan feature. The TRON management team calls the end of the election the ultimate phase of TRON’s independence. After this, the platform will become free, autonomous and decentralized with good community consensus.

Currently, TRX has got down 1.25 percent within an hour and is trading at around $0.041286.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.