Tron, which is on the 10th place in the ranking of cryptocurrencies, on Thursday announced the start of the transition on their own tokens.
Created by a former representative of the Ripple Justin San, Tron aims to create the infrastructure for “a truly decentralized Internet”, which will be able to work decentralized applications (dapps). The project, which started on the ethereum blockchain, and in late may launched its own blockchain, is positioning itself as a competitor to Ethereum.
Thus, the transition to a private token-is an intermediate step that Tron calls the movement toward “independence”.
How will the transition?
For owners of tokens, the transition simply means that instead of tokens ERC-20 TRX that was used in the development phase, will begin to use tokens TRON-20 TRX.
The transition also means that the balance on ethereum-wallet users will go to their wallets Tron.
Unlike other projects such as EOS, which provide users with the ability to make the transition manually, the migration process Tron is done exclusively by the forces of exchange and exchanges. The process began on Thursday and to get their tokens TRON-20 TRX users have until June 24 to get their tokens for one of their 30 exchanges (or exchanges) that support the transition.
Users who store their tokens on one of the exchanges, which supports the transition do not need to do anything.
In the period from June 22 to June 25, users will not be able TRX outputs from the stock exchanges. 24 Jun exchanges will be made snapshots of the balances of users, and on June 25 as a Deposit and withdrawal will be impossible. During this period users will still be able to trade TRX inside the exchanges.
The completion token migration on 25 June will be the time when network TRON will be completely independent.
After “independence Day”, June 26, users will be able to shoot and make money on the stock exchange as usual. Thus they will be able to participate in select super members.
Like the election of the producers of the units in your network EOS, this process requires users to bid on or “freeze” their tokens TRON20 TRX to get the opportunity to take part in the vote.
Upon his election, the blockchain Tron will be fully working and active.