SAN FRANCISCO, Calif. – The cryptocurrency platform TRON’s (TRX) announcement of Project Genesis last April 14 which would reward $2 billion to developers and community members has helped propel its price higher. Justin Sun, TRON Foundation’s CEO, confirmed this announcement on Twitter. This reward program will be distributed to other relevant programs. The timeframe for Project Genesis would range from March 2018 to September 2018.
MainNet Creates Excitement
After the success of the TestNet launch expanding to over 2,500 nodes in 31 countries in just 1 week, TRON’s MainNet is anticipated to create excitement until its release date on May 31. The effort that TRON Foundation put in Project Genesis is a good sign for a competitive cryptocurrency. After the MainNet’s release, TRON will now have its blockchain protocol. Previously, TRON has used an Ethereum-based network called ERC20.
Super Representative Elections
The TRON Super Representative Election will be held on June 26, 2018. This date is crucial since it will mark the end of the Exodus phase, and 27 Super Representatives will be elected. The end of the Exodus phase would be a transition to the Odyssey.
Sun said that 65,748,111,645 TRX would be used for the elections of the Super Representatives. The Super Representatives would receive an award of 1,009,152,000 TRX annually without inflation. Blockchain industries such as Antpool, GIFTO, and OCN will participate in the voting process, according to Sun.
Based on current values, TRX is now positioned in the 14th spot with a capitalized value of approximately $2.8 billion. Last Monday, TRX’s price was $0.042 per coin, depicting a 5.2 percent increase. TRX was valued at 0.000005 BTC and 0.000082 ETH.
The TRON Foundation uses blockchain technology to allow TRON users to store and build information. This technology has been useful in the entertainment industry. With its announcement of Project Genesis, this project is TRON’s way of thanking its developers.
TRON’s Project Genesis Schedule:
- March 2018 – Github Plan
- April 2018 – Bug Bounty
- April 2018 – TRON Loan
- April 2018 to June 2018 – Programming Contest
To Be Scheduled:
- May 2018 – Meetup
- September 2018 – Hackathon
- September 2018 – DEV CON
- Blockchain Investment Fund