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TRON (TRX) Main Net Launch

by Seth Mek on April 17, 2018

With the successful launch of the TRON Test Net earlier this year in March, Justin and the TRX team are looking forward to the launch of their TRON Main Net due on May 31st of this year. What does this mean for TRX? The coin is going to completely stray away from their ERC20 identity and move off of the Ethereum platform. With the success achieved during the Test Net launch; over 2,500 nodes were launched in 31 countries in just one week, you can only imagine what TRON will achieve when the Main Net is fully launched and ready to go. If you've been following the TRON road map closely, the Main Net wasn’t initially scheduled for May, that puts the TRON Foundation about 6 months ahead of its original roadmap. Shows just how much work Justin and the TRON Foundation has put into becoming a competitive cryptocurrency. With the Main Net out in full force, there are multiple features coming with the update that have investors and enthusiasts talking: smart contract implementation, PoS consensus and the coin burn. Let’s address the last point to help clear up any confusion. TRON’s implementation of a coin burn is not going to cut the circulating supply from 100 billion TRX to a lower number (thereby increasing the worth of each investor’s holding), but instead implement a permanent coin execution on each transaction. Ripple employs a similar method for XRP: transactions on the TRON network will consume a certain amount of TRX, as a way of increasing the security of TRON and giving each transaction an irreversible proofing stamp. Likely, this is where the 0.00001 TRX transaction fee comes into play. Unlike Bitcoin and other currencies, where fees are paid to miners as a toll for carrying through with a transaction, TRON’s fee is consumed and the small percentage of TRX is eliminated from the network. Over time, this does have the effect of reducing the circulating supply of TRX, but not to a degree that will greatly impact the price. If the burn fee is indeed the 0.00001 TRX figure being speculated, it will take 100,000 transactions to consume a single TRX token. The coin burn is less about appreciating the price of TRX or establishing scarcity (in the way Bitcoin benefits from a 21-million-coin hard cap), but instead a method for increased security in TRON transactions. The future looks promising for Justin, TRON (TRX) and the decentralization of entertainment content.

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