TRON Launches Beta Version of Own Blockchain

Odyssey 2.0 fails to impress the market with the TRX price plunging following the MainNet launch

by Deyana Laguna
01 June • 2 min
In Coins

TRON (TRX) has begun the transition from the Ethereum network to its own public blockchain.

The cryptocurrency launched its long-awaited MainNet, dubbed Odyssey 2.0, at midnight on Thursday (UTC). According to a company statement, the network will remain in beta version for most of June. Token migration will take place between June 21 and June 24, when users will be able to deposit their ERC20 tokens at participating cryptocurrency exchanges to receive an equivalent number of TRX coins on the new blockchain.

The full launch of the networks Genesis block is set to take place on June 25 — a date that developers have calledIndependence Day — when TRON willshed its ERC20 identity and become a true token within the TRON ecosystem”.

The independence of our protocol is a crucial step in ushering in the next phase of the internet through democratization and decentralization,said TRON founder Justin Sun. Our team maintains a high standard of excellence as we head towards becoming a mainstream public blockchain. The move of the TRON Protocol to MainNet makes it easier for developers to break away from Ethereum and opens up new doors towards better scaling, commercialization and express lanes needed for global dApp development.

The transition to an independent network will position TRON as a competitor to Ethereum in providing a basic-layer public blockchain platform that supports decentralized application (dApp) development. Internal tests have shown that TRON’s network is 400 times fasterthan Ethereums.

 

TRX Price Down

The long-discussed Odyssey 2.0 launch has failed to impress the market. TRX suffered the biggest price drop among the top 10 digital coins on Friday morning, down 3.4% for the past 24 hours to USD 0.06 as at 7:17 UTC.

TRON is currently the 10th largest cryptocurrency, with a market capitalization of approximately USD 4 billion, according to CoinsOnline data.