Tron, about $4 billion market capitalized cryptocurrency company according to coinmarketcap.com and $6.2 billion according to its own website has announced that its token migration from ERC20 TRX to Mainnet TRX would occur between June 21st – June 25th (GMT+8).

It was created by Chinese national Justin Sun using the Ethereum blockchain. But now he’s saying, it is the shortcomings of Ethereum which have forced the move aside, refer his tweet:

According to a press release, TRON will today be released on its own blockchain in open beta. Public testing will take place this month, and then TRON will “shed its ERC20 identity and become a true token within the TRON ecosystem.”

If your TRX is held on an exchange, no action is required. If your TRX is held in a wallet, you must deposit your TRX to an exchange before June 24, 2018, to avoid any losses. The TRON Foundation has steadily recruited exchanges to support its token migration. At present, TRX tokens are held on the Ethereum ecosystem, as ERC20 tokens, but upon TRON’s mainnet stability, the tokens will be moved to their own blockchain. The genesis block will be laid on the 25th of June, the team is calling this day as “Independence Day”.

According to the press release: “The TRON Network is a basic-layer public blockchain that improves upon the Ethereum model by featuring a high-throughput, high-extension, and high-reliability support for the protocol’s decentralized application operations.”

TRON uses a proof of stake system with delegate nodes selected by voting – the first “Super Representative Election” will be held on the 26th of June. A list of candidates is available on its website.

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