Justin Sun, Founder of Tron [TRX] has finally taken time off to answer the most frequently asked questions. With the Mainnet launch scheduled in 10 days and the ERC20 token migration to take place, a lot of questions were raised regarding the future of TRX. Justin has answered most of the important questions covering all the major aspects.
The ERC20 token migration has imprinted a doubt among a majority of the audience about what will happen if TRX isn’t transferred to exchanges in a timely manner. Justin assured that there is nothing to worry about as there will be an exchange forever that will support TRX migration. Hence, those who miss the migration can wait for the regular migration without any loss.
Justin Sun stated:
“The TRON Foundation decides that TRX only supports migration to exchanges for the sake of the safety of users’ assets and hopes that this allows ordinary users to avoid the risk of losing assets just for missing the snapshot time in the mapping snapshot mode.”
According to Justin, holding TRX is equivalent to holding part of the resources on the entire TRON network. Additionally, it can be used to participate in crowdfunding, collect airdrop, etc apart from using it to vote as part of the Super Rep election being conducted in the long run. After this campaign, Tron will be governed by the community and the foundation together as they continue to provide technical support for the network, says Tron’s founder.
He also clarified additional TRX issuance, stating:
“TRX will not make additional issues before 2021. The bonus TRX for package transactions before 2021 will come from the TRON Foundation. Afterwards, we will increase the supply of TRX at a fixed amount instead of a certain percentage.”
Another important issue to be addressed was the transaction speed when the Mainnet is running. They had claimed that 10K Transactions Per Second [TPS] or more will be achieved when the Mainnet is up. For which Sun said, further optimization will be made after the launch, in order to improve TPS. Also, Q2 will see the release of the Mainnet which focuses on performance and security testing along with TPOS mechanism improvement.
He concluded stating:
“Our main goal at Q3 is to fully support third-party apps and provide third parties with stable and reliable system-level support, including high-performance pluggable smart contract virtual machines and optimized P2P network systems. In Q4, we will focus on cross-chain communication and privacy protection.”
Diana, a market enthusiast tweeted:
“I hated u in the beginning but saw some of your talks on YouTube and I see ur legit. Glad you’ve answered all the questions that deserved an answer. Well done Justin Sun.”
Almerik addressed Justin and his team while questioning:
“What is the benefit of increasing supply? I think that will be a HUGE issue for supporters and investors in the future. We all know that if the supply increases, the price dumps. I love Tron, support it 100% was planning to hold until 2022, not sure I can hold past 2021 now.”