Leading cryptocurrency exchanges have begun testing TRON network and the general consensus is leaning towards the positive side. In addition, mainnet has not reported any technical problems during the initial stage of the launch.
Only recently TRX, which is placed 12th in a list of tokens by capitalization, has left ethereum network in favor of their own mainnet called Odyssey 2.0. But before leaving, TRON’s founder Justin Sun took a few nasty swipes at ethereum on Twitter. He spoke of poor scalability, high commission and "authoritarian rules" governing the network of the second largest cryptocurrency.
Why #TRON is better than #ETH: 1. 2000TPS vs. 25TPS 2. Popular sovereignty of token vs. Authoritarian rules 3. 100M Dapp users vs. Thousands 4. None fees vs. High fees 5. Coin burn vs. No coin burn 6. $2B bonus vs. Zero 7. High scalability vs Poor scalability #TRX $TRX pic.twitter.com/W7jEjmx0wp
— Justin Sun (@justinsuntron) June 1, 2018
But following TRON’s ‘Independence Day’, the network now needed to prove it can be used and trusted. Each exchange checks the new network in its own way, but so far, all have noted its security and stability. Token transitions are being run through partnering exchanges. Trading platforms are now also checking compatibility of tokens with wallets, ability to deposit and withdraw funds and ultimately the speed of network. However, there is still a danger of confusion with two sets of addresses. The digital assets of TRX that are being operated on ethereum network are incompatible with TRON network.
- Singapore-based Huobi exchange announced that "mainnet upgrade has been completed."
- OKEx resumes deposits and withdrawal of funds for the new network.
- Binance, which previously stated that their security requirements are much stricter than elsewhere has temporarily postponed the resumption of all TRX related operations, due to internal issues.
In last few days, TRX coins movement has slowed down drastically with only a few of transactions occurring a day, but now it’s back up in thousands of transactions per day. However, these volumes are still low in comparison to what was seen before the mainnet migration.
By Ekaterina Ulyanova