yosefkerendian (OP)
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June 13, 2018, 04:16:59 AM |
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Mainnet Launch
On May 31st the Tron mainnet, Odyssey 2.0, was successfully launched and is now available for download from the TRON Github page. A big step forward for the project, TRON Odyssey 2.0 has accumulated 2,153 commits (revisions), merged 547 forks, released 15 software iterations, and added 102 new features. Furthermore, June 25th has been scheduled as the date of full migration of the network and has been referred to as ‘Independence Day’. In terms of logistical issues, the switch from ERC-20 to native TRON tokens, will only be available as an ‘automatic’ option. This means TRX holders will have to ensure their tokens are in a supported exchange or wallet, such as on Huobi Pro, and Huobi will handle the transition - converting the existing tokens into their new form. If users miss the final migration day, they will be unable to manually switch to the new form of TRX and will have to wait until another mainet switch date is announced. This later mainet switch will only occur on an exchange of TRON’s choosing, which will be announced at some later date. Similarly, from 12:00 (UTC+0) on June 12th, 2018, Ontology Polaris TestNet will switch from DBFT to VBFT consensus algorithm. So developers involved in DBFT need to backup ahead of the switch. Additionally, Onotology will launch their mainnet at the end of June and finally have their own blockchain. Huobi has announced that it fully supports the mainnet token swap scheduled for June 30, 2018. Click here and sign up for a Huobi account today.
Tron (TRX) and Ontology (ONT) are going to switch to mainnet and require users to swap their ERC-20 tokens to their own native platform tokens. Huobi has supported many mainnet launches (e.g. EOS) and will support many more token swaps like Tron and Ontology. All TRX and ONT coins that were not registered may be worth nothing. If the ERC-20 TRX/ONT tokens are in Huobi Pro, then Huobi Pro will do the swapping of the new tokens for you. If the token is in a wallet, you will not be able to move or trade them.
TRX & ONT Switch
Moreover, the liquidity of the tokens in a wallet is completely illiquid during the transition period of the mainnet launches. This transfer of TRX & ONT from ERC-20 token to mainnet token may take longer than expected, so users will not be able to trade the token based on interim news. However, if customers leave their tokens in Huobi Pro, then the users can still trade the tokens AND get the new issuance of the TRX/ONT tokens. If your ERC-20 EOS tokens are in Huobi Pro, then Huobi Pro will do the claiming of the new tokens for you. If the token is in your wallet and is unregistered with Block.One, then users will not get the new TRX/ONT tokens. If the token is in a wallet, you will not be able to move or trade them. The liquidity of the TRX/ONT token in a wallet is completely illiquid. This transfer by TRX/ONT from ERC-20 token to mainnet token may take longer than expected, so users will not be able to trade the token based on interim news. However, if they leave their token in Huobi Pro, then the users can still trade the tokens and get the new issuance of the TRX/ONT tokens.
TRX Development
Tron, the cryptocurrency that was developed and subsequently tokenized in September 2017, has been making inroads in the cryptocurrency market by toppling other cryptocurrency big guns. There are very few coins that can make such meteoric rise possible, in its price chart within a few months after its tokenization like TRX. Very recently, Justin Sun, the founder of this ingenious cryptocurrency has announced a few major updates in the coming months which are going to make a pivotal impact on this currency’s future and consequently its holders’ as well. Launch of Odyssey 2.0: Tron is likely to implement six different stages with unique new features for its holders. The coin is currently in its first stage known as Exodus. Very soon, the second stage named Odyssey 2.0 will be launched and implemented with its inherent proof of stake algorithm. Moreover, with launching the new stage, this cryptocurrency would also implement the on-chain resource allocation governance system for helping their users in allocating valid resources of entertainment content. Finally, as per Justin Sun’s statement and the updated roadmap, the transaction cost for TRX would be mitigated to zero. This will allow even more investors to opt for this digital currency.
Huobi
Huobi Group is the leading global cryptocurrency exchange and Blockchain asset financial service provider, consisting of Huobi Pro, Huobi OTC, Huobi Pro, Huobi China, and Huobi Mining Pool to name a few. Huobi Global currently has offices in Singapore, the United States, Japan, Korea, and Hong Kong. So be sure to click here and sign up for a Huobi account today!
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