Altcoin TRON (TRX) launched a beta version of its independent public blockchain at 12 am UTC, today May 31, according to a press release shared with Cointelegraph. Tron is currently the tenth largest cryptocurrency by market capitalization.
The move to Tron’s MainNet – also dubbed Odyssey 2.0 – is part of a transition away from the Ethereum (ETH) blockchain, which currently underpins the cryptocurrency’s network. According to the press release, MainNet’s beta testing period will span most of June. The full launch of the network’s Genesis block is set to take place on June 25, styled ‘Independence Day’ by the TRON foundation.
Token ‘migration’ will take place between June 21 and June 24, during which investors will be able to exchange their ERC-20 standard tokens on crypto exchanges for an equivalent number of TRX on the new blockchain.
The move to an independent network will test TRON’s claims as a competitor to Ethereum in providing a basic-layer public blockchain platform that supports decentralized application (dApp) development. The new Java-based MainNet uses a Proof-of-Stake (PoS) consensus algorithm.
TRON’s developers claim their internal tests have shown that the network is “400 times faster” than Ethereum’s…