TRON, one of the top 10 in the world of cryptocurrencies, with 2.7 billion dollars of market cap has commenced the operation of its own network after migrating to its own version of blockchain.
From now on, the June 25 will be remembered in the cryptocommunity as the date when the TRON Foundation migrated to its own mainnet, parting ways with Ethereum’s network. Developers spent nearly 30 days to ensure the financiers’ ability to move their ERC20 coins to the newly established mainnet.
The Foundation has established a platform and a channel for the TRON's participants and shareholders to get the most recent news from the 12-hour live stream, allowing the newcomers to try out various innovations of the Mainnet.
By separating from Ethereum’s blockchain, TRON makes one more step in the direction towards competing with Ethereum in terms of provision of a basic-layer blockchain network that encourages decentralized applications creation. According to TRON’s creators, their network has shown 400x faster performance than Ethereum’s network.
ERC20 protocol is utilized exclusively on the Ethereum blockchain, establishing standards allowing for a fairly easy creation of new altcoins. However, the protocol has shown some inconsistencies so far, such as destruction of tokens as they are utilized as payment for a smart contract. To tackle this issue, Ethereum is developing another standard – ERC223.