June 25th, TRON Independence Day
TRON’s Independence Day is finally here
June 25th.
To commemorate this exciting moment, TRON Foundation will conduct a burn of 1,000,000,000 TRX all at once, which is worth 50 million USD according to today’s market price.
This may set the record for the most amount of money destroyed in human history in celebration of a historic moment.
The amount of TRX at the beginning of mainnet launch will be reduced to 99,000,000,000TRX, and the remaining 33,251,807,524 TRX held by TRON foundation will stay locked until January 1th, 2020.
To ensure the transparency and fairness of the TRON Protocol, we will now disclose the process where the community reaches a consensus on TRON independence . We look forward to the engagement and participation of all Tronics.
TRON’s mainnet launch process includes four major phases: Preparation, Guardian Phase, Genesis Phase, and Constitutional Phase.
Stage 0: Preparation
On June 18th, the TRON community selected volunteers from Super Representative candidates to serve as Tron’s Genesis Representatives (GR) to participate in the mainnet launch. Super Representative candidates who have a block generation rate of over 99% for more than five consecutive days will be selected as GRs.
During the mainnet launch rehearsal, candidates with the most outstanding technical skill will become GRs. The 27 selected GRs will form a TRON Independence Group to ensure a successful mainnet launch.
June 19th, 20:00 PM(GMT+8) TRON conducted a crisis drill for mainnet crash, where two-thirds of the super nodes were shut down and caused a difference in protocols versions. After discussing the issue and working with each other, the GRs and TRON restored the mainnet without any data loss.
June 20th 18:00 pm (GMT+8) GR candidates will conduct the first rehearsal for mainnet launch. GR will create a new network ID and test the functions of all nodes as well as optimize the process of mainnet launch in the rehearsal network.
June 21th 11:00 am (GMT+8) GR candidates will conduct the second rehearsal.
June 22th TRON will have a finalized list of GRs. In order to prevent cyber attacks and ensure a successful mainnet launch, GRs will form the TRON Independence Group anonymously.
June 23th Depending on the block generation rate, we will select a GR as a Genesis Boot Node (GBN) using certain algorithm. For safety, GBN will generate its own fingerprint for other GRs to conduct anonymous ID verification..
Stage 1 : Guardian Phase
June 24th, 26 Genesis Representatives of the TRON Independence Group will review the process and verify version information, network parameters, and authentication. After verification is complete, the 26 GRs will initiate the protocol and start the Guardian Phase. The new phase needs to wait for GBN’s final BOOT command to be activated. If more than two-thirds of the GRs confirm the command from GBN, all the representatives will start the launch process together.
Stage 2: Genesis Phase
June 25th 10:00 am (GMT+8) GBN will start promptly to initialize network parameter in order to create genesis blocks. After making sure the nodes are secure, GBN will start to broadcast BOOT command to the entire network. Then the 26 GRs will receive the BOOT, initiate the verification process, and join the genesis network. Once more than two-thirds of the twenty-seven GRs reach a consensus, TRON mainnet will officially launch, marking the arrival of TRON Independence Day and the beginning of the Super Representative Elections.
GRs do not have the right to be elected. They only have a hundred million TRON Power (TP) by default. The TRX awarded to GRs during the election will be burned. Once a Super Representative candidate obtains over a hundred million TP, it will replace the GR and become a node that has the right to be elected — a TRON Super Representative. This is also the time when the GR completes their mission and is automatically relieved from their position.
The TRON network will enter the next phase once all the twenty-seven GRs are replaced by Super Representatives.
Stage 3: Constitutional Phase
After all 27 SRs take over governance of the TRON network, TRON mainnet will enter the Constitutional Phase, where the system is co-governed by the entire community. This is the ultimate phase of an independent TRON mainnet. TRON will officially migrate from ERC20 and become one of the most globally competitive and well-governed major public blockchains. The elected SRs will accept the responsibilities of governing the mainnet and providing support for subsequent SR elections, which are held every six hours.
TRON will officially become a free, autonomous, and self-governed decentralized protocol with robust community consensus.
Other
Follow Tronscan.org during TRON’s Independence Day to keep track of the latest TRON network updates.
TRON is listed on over a hundred exchanges around the globe. Please see our official link for a continuously updated list of exchanges that support token migration:
The schedule of when each exchange migrates their tokens from ERC20 to TRON mainnet will be announced by individual exchanges. After receiving TRON mainnet tokens, the users can withdraw the tokens and deposit in TRON-recommended wallets and start voting.