The $3 billion decentralized internet project named TRON may have gone live today. However, its full “independence” from the Ethereum blockchain is not yet complete.
Even though today was meant to be the “Independence Day” on which TRON would mark the official launch of its mainnet and the completion of the departure from Ethereum to EOS20, the project only achieved the former.
The founder of TRON, Justin Sun, said that the cryptocurrency is still in the process of migration of the last users and their TRX tokens from Ethereum to its mainnet. As reported previously, TRON began its token swap last week, indicating that the swap would be completed by “Independence Day” in order for token-holders to be able to use their TRX and vote for 27 block validators on Tuesday.
The validators are dubbed “super representatives” and would compete to produce blocks as part of the project’s delegated proof-of-stake system (DPoS). However, Sun suggested that the initial timeline is no longer realistic, stating:
“We expect to finish all the exchange token swap and the migration in the next couple of days,”
Sun also added that TRON has “already served”one-third of the exchanges which are supporting the swap and that upon the completion of the rest, users will be able to withdraw their tokens from the exchanges.
According to TRON, the conclusion of this election will mark the start of community governance over the blockchain – which according to him, will be “the ultimate phase of an independent TRON”.
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