$3 Billion Blockchain Tron Kicks Off Token Migration Today

The 10th most valuable cryptocurrency in the world is set to commence its token migration process on Thursday.

The token migration is an intermediary step in what Tron has called its progression towards "Independence," or in other words, the completion of its departure from ethereum and the activation of its mainnet technology.

Though the token migration is now a key part of the realization of Tron's technology, the original iteration of the project's roadmap did not include a token swap, much less the launch of non-ethereum-based Tron mainnet.

The implementation of the network is likely to be contingent upon the success of the events of the upcoming week, which Tron told CoinDesk users can watch via its blog and social channels.

For token holders, the swap merely means that the placeholder ERC-20 TRX tokens Tron distributed during its development phase will be switched out for native "TRON-20" TRX tokens.

The swap means the balance of tokens in users' ethereum wallets will subsequently be transmitted to their Tron wallets.

Unlike other projects, such as EOS, which provide users with the option to carry out the swap manually, Tron's migration process will be facilitated wholly by exchanges.

On June 24, the exchanges will take "Snapshots" of users token balances to ensure the sums transfer correctly, and on June 25, both TRX deposits and withdrawals on exchanges will be frozen.

According to Tron, the completion of the token migration on June 25 will mark the point at which the Tron mainnet will become "Fully independent" from the ethereum blockchain.

Upon the completion of the election, the Tron blockchain will be fully activated.