TRON (TRX) Completely Switched to a New blockchain
TRON (TRX), one of the ten largest cryptocurrencies in terms of capitalization, has launched its network, after switching to its own blockchain. For today, capitalization of this crypto asset is 2,7 billion US dollars.
The beta version of the blockchain was presented on May 31. Earlier, the digital asset was working on the Ethereum blockhchain. It took almost four weeks for the transition period. During this time, investors had to transfer the standard ERC-20 tokens to a new network.
According to a report published in the official blog, the fund introduced the platform and created a channel for the community. It publishes fresh information on the state of crypto asset.
As previously reported, the transition to an independent network will determine the scale of the TRON network (TRX). Note that internal tests made it possible to understand that the network operates 400 times faster than Ethereum.
ERC-20 is used exclusively on the Ethereum platform. Despite the fact that ERC-20 makes creation of new tokens simple enough, there are situations when cryptotokens can be unintentionally destroyed. Similar situations occur when they are used as payment for a smart contract. To solve the problem, Ethereum is developing a new standard - ERC-223.