Altcoins April 21, 2018 Daily Hodl Staff

TRON Plans 30 Million TRX Airdrop to Ethereum Holders

TRON is planning its departure from the Ethereum network with the launch of its upcoming mainnet on June 21. Its stated goal is to become “one of the most competitive mainstream public blockchains in the world.”

Developed as an ERC20 token on the Ethereum network, TRX joined a robust roster of Ethereum-based coins, including EOS, VeChain, OmiseGO and ICON. Now that TRON’s ERC20 phase is coming to an end, it will airdrop 30 million TRX to Ethereum holders. With TRX trading around $.05, the airdrop has an estimated value of $1.5 million.

The airdrop is an effort to entice Ethereum users to the TRON network. While characterizing the event as a show of gratitude toward Ethereum, Tron Labs remains critical of the Ethereum network.

“Ethereum played a vital role in TRON’s early stage development, and we want to express our appreciation through this airdrop event. However, we have also discovered many issues and bottlenecks during our time on the Ethereum platform. When we see a problem — we will set out to solve it.

That is why TRON wants to provide TRX to the Ethereum community, so people have a chance to experience our high TPS development platform and use TRX to vote, becoming part of our new generation decentralized network and the TRON democracy.”

Eligible recipients for the TRON airdrop will show a balance of over 1 ETH. The airdrop amount will be randomized with recipients earning anywhere between 10 – 100 TRX.

Airdrops are considered “free money” whereby existing holders with qualified addresses of a particular blockchain currency are credited free tokens.

The TRON airdrop is scheduled after data collection, which is expected to take one week. There is no required action from Ethereum users. The TRON Foundation stresses that it will not solicit wallet addresses for any reason and asks customers to report any suspicious activity.

Meanwhile, an outline for the implementation of Ethereum’s Casper was just published. It lays out the Ethereum’s mainnet transition from Proof of Work (PoW) to Proof of Stake (PoS). The result will be a consensus model PoW/PoS hybrid that promises to make Ethereum more efficient.