The TRON (TRX) project is counting down hours to migrating the digital asset to the new main network. The network has been running for months, but owners of TRX had to transfer them to exchanges first, to achieve the swap on June 21. Afterwards, the TRON project would open a tool for delayed registration.
The TRON network launch is a long-awaited event, coming on the tails of the EOS mainnet launch. Skeptics expect to see problems, once Super Representatives are given over the consensus and verification of the network.
https://twitter.com/LucasNuzzi/status/1009072777641512960
But TRON has the advantage of running a testnet for a month, then the mainnet since May 31. Adding the governance layer, however, is seen as the bigger challenge compared to simple block production.
For the TRON project, the run up to the next phase has not been without scandal. The Reddit community noted a faked hard fork being announced. Additionally, the tronix subreddit was hijacked by a rogue account, with an attempt to create an alternative TRON network.
In a now-debunked and suspended post on Medium, an announcement was made that a TRON hard fork would combine its technology with the Skycoin platform. The announcement turned out to be fake, and built panic and confusion on top of the recent Skycoin debacle, in which SKY digital assets were abducted and quickly dumped on Binance.
Despite the glitches, the TRX market price has increased lately. TRX is up 11% net for the past seven days, and the price is in the green again in the past day, rising to $0.047. TRX is still down by 50% net on a monthly basis, but optimism sees it rise to much higher levels once the network launches.
!TRON!
The success of TRX would also depend on how the network is used, and how much it manages to improve and offer a better ecosystem compared to Ethereum.
TRON has initially positioned itself as a media and entertainment blockchain project. In a recent move, the TRON project acquired BitTorrent, one of the earliest distributed computing services for file and media sharing. Thus, TRON gains access to a user base of 170 million connected individuals. The acquisition price was $140 million paid in cash.
Based on TRON’s market capitalization of currently $3.1 billion, some believe the asset may be undervalued, due to skepticism of the network’s success, and the general downward trend on the market.
This article appeared first on Cryptovest
