The procedure of transfer to its own Mainnet from the ethereum platform is claimed to be finished, as Tron today announced the 'Super Representative Election', with the goal of selecting organizations and private individuals who will become part of the TRON's blockchain. Another key task of the vote is to prove that the consensus mechanism is functional by obtaining a certain number of votes. However, although the token swap was launched June 21 in order to be finished by 'Independence Day', yesterday, during the live stream, Tron’s founder Justin Sun said that Tron “expects to finish all the exchange token swaps and migration in the next couple of days.” He has also noted that Tron has "already served" one-third of the exchanges supporting the swap. Also, even the remaining two-thirds did not complete its move, users still will be able to withdraw their tokens from the exchanges.
"Probably this election period will go five days or something, because lots of the [token holders] need time to get their mainnet tokens," Justin Sun said during the live stream.
On its blog on Medium today the company has also stated that all “ERC20 tokens of TRX will remain valid until all ERC20 tokens are converted to TRON’s mainnet tokens.”
Each super representative must receive 100 million votes minimum to be elected, while each TRX token is counted as one vote.
Worth noting is that the company had also burned 1 billion of TRX tokens as part of its celebration and with the aim to increase the cost of the remaining tokens. The amount of burnt tokens is equal to $50 million dollars.
“The remaining 33,251,807,524 TRX held by TRON foundation will stay locked until January 1th, 2020.” - The Tron Foundation stated in their official blog earlier.
Along with the launch of the new mainnet, Tron has prepared a series of new projects, recently we were writing about Tron’s blockchain university the company is planning to open. During a live stream Sun has also unveiled some secret project the company will launch on June 30 along with the official launch of the Tron “Virtual machine”. In Tron’s genesis block a hidden message was discovered saying: “A new system must allow an existing system to be linked together without requiring any central control or coordination”.
Justin Sun has commented on the message saying that the idea was borrowed from Tim Berners Lee – the inventor of 'World Wide Web'. The new project will aim to make internet decentralized “again”. Speaking about the 'secret project' he said, that it will result in a 100 million active users using Tron platform in the future and it will be more significant than the mainnet launch.
By Nadya Astam