Ecommerce & Logistics

Cryptocurrency worth $3 Billion Begins Token Migration

Image Source: smartereum.com

Tron is the tenth most valuable cryptocurrency in the world and it’s beginning its token migration process today. It was created by former Ripple representative Justin Sun. It was aimed at creating a truly decentralized internet. This involves hosting decentralized applications or “dapps”.
Tron began on the Ethereum Blockchain and eventually moved to its own Blockchain in May of 2018. It has now positioned itself as a competitor to its former host. The company has called this a small step towards its independence.
The token migration is now an integral part of the advancement of Tron as a cryptocurrency and as a revolutionary Blockchain, however, during the first iteration of the currency, it wasn’t even on the agenda.
Justin Sun claimed that “This is the only way to propel the industry into a stage of large-scale, rapid growth…Independence from Ethereum is our answer to the calling of the blockchain era.”
For current token holders, the only change will be that the ERC-20 TRX token in their Ethereum wallets will be switched out for the TRON-20 TRX tokens in their Tron wallets.

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