How Will Ethereum be Affected by the EOS and TRON Migration from ERC20?

UK-based Crypto Trading Platform is Launches Ethereum Futures Contracts

EOS and TRX will be migrating from Ethereum’s ERC20 technology to create their native Main Nets.

The decision of TRON and EOS to migrate to their native Main Nets has been supported by firms and partners worldwide. However, this migration may be problematic to Ethereum.

TRON and EOS have both announced the launch of their native Main Nets to the cryptocurrency community. Many in the Ethereum community aren’t optimistic about the migration as they believe it will lead to the devaluation of related altcoins.

Also, some users of EOS and Tron are not happy with the migration and have expressed their doubts about the impact of the emigration on the value of both coins.

SEE ALSO:   Stellar Lumens News Today: The Stellar Development Foundation Is Preparing To Launch Their Own Decentralized Exchange (SDEX) Stellar Lumens Predictions 2018 - Wed Oct 17

Founder and CEO of TRON, Justin Sun, took time to address the concerns about the migration. He said that there is no reason for anyone in the cryptoverse to be alarmed about the new development and that this migration is in the best interest of the users.

Justin Sun said:

“The TRON Foundation believes that the TRX is only in support of migrations that are for the best interest of the users and they hope that this will save ordinary users from the risk of losing assets for things as simple as missing snapshot time in the mapping mode.”

SEE ALSO:   The list of Bitcoin millionaires: Rapper 50 Cents joins the cryptocurrency millionaire list but there is a problem - Wed Oct 17

According to Justin, the migration to the Main Net will improve speed, scalability, and number of transactions per second.

Justin continued:

“Our primary goal at Q3 is to support third-party apps fully and offer stable and reliable support to their parties like optimized P2P systems and high-performance virtual machines for smart contracts that are pluggable. We will focus on privacy protection and cross-chain communication.”

Irrespective of the doubts people have, the migration announcement raised expectations that have increased the strength of both coins. After the announcement, EOS jumped to the fifth largest cryptocurrency in the market while TRON became the tenth.

SEE ALSO:   Monero price predictions 2018: Significant appreciation is possible I USD / XMR - Monero Price News today - Wed Oct 17

The migration will be final on the 2nd of June.

 

 


LEAVE A REPLY

Please enter your comment!
Please enter your name here

20 + nine =

This site uses Akismet to reduce spam. Learn how your comment data is processed.