Connect with us

Altcoins

Tron’s Justin Sun confirms mainnet will not undergo upgrade following implementation of SUN Network

Febin Jose

Published

on

Tron’s Justin Sun confirms mainnet would not undergo upgrade following implementation of SUNNetwork
Source: Pixabay

Tron Foundation’s SUN Network project has been in the works for quite some time now and the collective Tron ecosystem is preparing for its launch in May 2019. This move is expected to boost the Foundation’s DApps project, which has seen considerable success as more and more players join the network. It was reported that Gaming and Gambling apps on the Tron Network saw a substantial increase over the past few weeks, pushing its mainstream adoption to new heights.

In a recent tweet, Justin Sun, Tron Foundation’s CEO, clarified that the Tron mainnet would not require an upgrade following the launch of the SUN Network. He further elucidated that DApps would also not be affected if they did not switch to the DAppChain. His tweet read,

“MainNet doesn’t need to be upgraded after the launch of #SUNNetwork(DAppChain). #DApps won’t be affected if they don’t switch to DAppChain. For good user-experience, DApps will only need to integrate with sidechain SDK with simple configs to move from MainNet to DAppChain. #TRON.”

The SUN Network is expected to increase Tron blockchain’s productivity as it supports sidechain-based smart contracts via a new DAppChain. This sidechain is expected to boost the effectiveness of the Tron DApps ecosystem as it will facilitate DApps functioning using very minimal energy. This DAppChain also boasts the efficiency and security of the Tron mainnet.



The SUN Network, according to previous reports, will be launched in three phases and will, in effect, expand the overall capacity of the Tron network.

The testnet phase will see the initiation of off-chain confirmations on its sidechain smart contracts. This is the first phase and will go live on May 31, 2019. The mainnet will be launched on August 10 and will include DApps sidechains, cross-chain infrastructure, and other expansion products. The last and final segment of the implementation of SUN Network will be the optimization phase. Here, the performance of the sidechains would be analyzed thoroughly, following which the sidechains would be deployed.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Febin Jose is a full-time journalist/editor at AMBCrypto. He believes that cryptocurrencies will navigate a volatile future and that Arsenal can still win a title. Lives around the "if it sounds like writing, I rewrite it" mantra.

Altcoins

Binance Chain’s first project Mithril to launch with MITH/USDT trading pair

Namrata Shukla

Published

on

Binance Chain's adds Mithril as its first project followed by MITH/USDT trading pair
Source: Pixabay

Binance launched its blockchain protocol on April 18 and it already has its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain. The company’s MITH token, that ranks 121st on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.

Binance Chain has been a highly anticipated project in the crypto world since its announcement and with its launch, the community provided ample support to the move. According to reports, Binance is luring companies into migrating to their new native chain and leave Ethereum.

According to Mithril’s blog post, the migration commenced after the mainnet launch of the Binance Chain and informed the MITH holders that the deposit and withdrawals on Binance.com will be halted for the initial 12-hour migration period, however, trading will continue. The post added:



“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”

As Mithril announced about its migration to Binance chain, the price of MITH, Mithril’s native coin saw a surge. The coin also saw a 70% hike,  followed by a market correction. At press time, MITH was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume of the coin was $108 million as it pumped by 67.10% over the past day. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.

Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending