The TRON mainnet was “switched on” by the TRON Independent Group (TIG) on June 25, 2018. TRON (TRX), the world’s 10th-ranked crypto coin with almost $3B in market capitalization is now running on its own public blockchain according to a June 25 blog post.
The date was dubbed “Independence Day,” when transactions are moved to the TRON mainnet. From its beta launch in May, the TRON devs spent almost a month migrating its investors’ tokens to the new system. This completes the project’s separation from the Ethereum (ETH) blockchain.
Justin Sun tweeted his announcement of the “Independence Day” urging followers to join them and experience a free, decentralized internet.
The company provided its investors with a channel to receive updates on this particular cryptocurrency news through a 12-hour livestream and even threw in some TRX for them to check out the New TRON mainnet functionalities.
TRON engineers claim that their new network is faster than Ethereum many times over “challenging its former host” in offering a public blockchain platform that runs decentralized applications (DApp).
The ERC-20 standard tokens which power the new TRON system was originally designed to be used exclusively on the Ethereum platform. While the protocol allows being shared, exchanged, or transferred, and even lets creation of new tokens without any difficulty, it was observed that they can get corrupted when used as a smart contract payment. The Ethereum devs are now working on ERC-223 to address this predicament.