After the week of preparations including 4 stages, we wrote about earlier and the proposed $50 million worth TRX tokens burn off commemorating the mainnet launch, the procedure of moving to its own mainnet from ethereum platform is well into its final stage.
Yesterday Tron Foundation has published the explanatory image of how and why they were burning the tokens.
The procedure was aimed at increasing the value of a cryptocurrency while encouraging the investors not to give away their coins.
“The amount of TRX at the beginning of mainnet launch will be reduced to 99,000,000,000TRX, and the remaining 33,251,807,524 TRX held by TRON foundation will stay locked until January 1th, 2020.” - said the company in their blog on Medium.
TRON is broadcasting it’s 'Independence day' live, and claims that the first batch of new TRX is already been distributed through a raffle. The company has also frozen the old TRX ERC-20 tokens for trading. As Justin Sun, the founder of the TRON said, 39 crypto exchanges will support the forthcoming migration. Users need to move their assets to exchanges to avoid any losses. But if the user fails to do so, the platform guarantees that it will provide access to a permanent exchange tool that will support the transfer. Binance crypto exchange has also announced it will help TRON users that missed the deadline to convert their currency. In anticipation of the move, TRON has released the tutorial on the new digital wallet the TRX will be compatible with.
On June 26 the new MainNet will hold the 'Super representative election', with a goal to select organizations and private individuals who will become part of the TRON MainNet. Another key task of the vote is to prove that the consensus mechanism is functional through obtaining a certain number of votes. Recently, TRON’s competitor EOS has had a difficult time launching its own mainnet. The project could not collect the number of votes necessary to activate the new platform for days, due to the bags and vulnerabilities found in the system earlier.
TRON is facing a different problem, as it was accused of being a 'Frankenstein' of the cryptocurrency world because it allegedly stole parts of code from other cryptocurrencies and disguised the fact. It remains to be seen if the news will affect the voting procedure tomorrow.
Currently, the cryptocurrency is showing a slight rise and trading $0,042422 against the one TRX. You can follow up with the price change here.
Just a few hours before the start of TRON’s "Independence Day" and the official launch of the genesis block in MainNet, the TRON Foundation posted a video on Twitter, setting out a plan for a Tronics University.
The video presents viewers with general questions for both beginners and more advanced users with industry knowledge. These range from: "What is blockchain?", to more specific: "What is DAPPS?".
“Team Tronics University will stride to engage the community members, focusing on the knowledge about TRON, their partners and everything blockchain. We at Team Tronics understand that every member who registers with us will have a certain level of understanding of TRON, Crypto, Blockchain related.”- the company said in their official statement
All the classes will be divided into the 3 difficulty levels “beginners”, “competent”, and “expert”, with everyone starting from the very beginning but being able to advance according to their level of knowledge. The education process also claimed to be rewarded with TRX tokens.
Tronics University is not the first educational facility to come to the field. Earlier in June, several Oxford professors have unveiled a project of a blockchain-based university system. While Stanford University has recently announced their plans to establish a Center for Blockchain Research.
By Nadya Astam