June 25, 2018, will go down in history as the day of the Tron mainnet launch, which was hailed as a self-styled “independence day” by the TRON foundation.
With a market capitalization of USD 2.7 billion, the 10th largest cryptocurrency activated its mainnet and bid farewell to Ethereum.
Following the launch of a beta version on May 31, 2018, developers took close to four weeks making sure that investors were able to shift their ERC-20 standard tokens over to the new network.
The official TRON mainnet launch was accompanied by a live “independence day” stream, which was broadcast live on Twitter by Tron foundation founder, Justin Sun.
During the broadcast, Sun alluded to a “special project” which will launch on July 30 –
“I think one of the most important values of Tron is delivering our products and mission on time. So as you see, we delivered our testnet on the March 31st, our mainnet on May 31st, and officially are launching our mainnet on June 25th. The next very important milestone is July 30th- we will deliver our official virtual machine. All the decentralized exchanges and applications on the Tron platform are plugged into the Tron ecosystem. July 30th we will launch one of our secret projects.”
The TRON mainnet launch will finally put to the test the foundation’s claims as a real competitor to Ethereum as a public blockchain platform that supports decentralized application development.
TRON developers have claimed that internal tests they have carried out prove the new network to be “400 times faster” than Ethereum’s.
With firm emphasis placed on achieving scalability and decentralization, the TRON foundation is “shedding its ECR-20 identity” as it begins the next stage of its journey on its own.
Scheduled for today is a super representative election, which will allow the TRON community to vote on new places that will govern the network.
Despite TRON’s attempts to put a positive spin on the move, their market price is not responding all that strongly to the new developments in the short-term, with TRX trading at $0.06, which is down 0.3 percent over the past 24 hours or so.
Only last week news broke that TRON was in the process of acquiring BitTorrent for over USD 100 million.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.