Tron ($TRX) What Will Happen June 1 & How to Convert Your Tron!

hey guys what is up its dusty here back with another crypto video gonna be talking about Tron ERC 20 conversion because a lot of people have been asking me what’s gonna happen to your Tron whenever the main net launches so we’re going to be covering that so I’m just going to be giving away $50 for this episode all you have to do is a little press that like button and comment something below if you want to make it easier you comments your PTC address and I can actually send you the BTC straight away I’ll pick the winner in two days so be sure you comment something right now and send somebody message in two days and all right guys in the right bottom corner here I have a Twitter and a twenty discord and what that is about is first off my Twitter once you follow that you’re actually entering a 500 dollar giveaway because whenever I hit 1,000 followers I’m currently at about 600 ish I’ll give away $500 and did think underneath there is the signals on the discord chat or actually the whole disc with chat in general and that is just a chatroom here you can open it up at your browser the links in the description you don’t have to make an account you can just check it out real quick totally free and there’s also coin signals in here so buy and sell signals for different kind of coins so uh be sure you check it out totally free now guys to get into the content as you guys would all like to now Tron Foundation has posted a little thing right here five hours ago with a migration notice the migration from ERC 20 tokens to TRX the corruptor currency on the trans plug blockchain will begin on June 21st 2018 on GMT plus 8 so you know normally different times offer you most likely so if you press this link right here let’s actually favorite that I like it and let’s actually open it right here so I’m medium try to your ex migration notice then the picture that we saw before dear sir Potter supporters of tronics or Tron tronics thank you all for for your keen attention to and support to Tron for that for the reason that trans public blockchain maenette will be launched shortly the migration from PRC 20 tokens to TRX the cryptocurrency on trans public blockchain will begin on June 21st 2018 we highly recommend exchange that all transactions be frozen from June 22 to June 30 23 this is for exchanges but it’s just saying that you should not exchange any time between June 22nd and June 23rd after June 24th year C 20 will no longer be valid for transactions for we will only support transactions with TRX on the public blockchain so if you didn’t know right now Tron is a ERC 20 smart contract which has some limitations because it’s a RC 20 and they just went ahead and launch their own blockchain or actually are going to and right now the test net is live so if you go onto a Tron website you can see the test net they’re testing everything out and then the first of June or May 31st the maenette will launch which is just gonna be tron going away from Yoshi 20 and actually opening or actually going on their own life blockchain and the ERC 20 blockchain will not work anymore and yeah they’re gonna be converting all your coins to certain extent but the question is really what’s gonna happen to your coins when we’re gonna go over that in a little bit of detail in a second here let’s actually quickly read the rest of this article so for Tron 4 token holders with your ear see 20 tokens safety crypto currency exchanges the only required operation on your part further operations for token migration will automatically be completed for you into time so right here on the medium they’re saying you have to do nothing at all Justin Sun and Tron and the exchanges will fix it for you for exchanges that’s something else but you’re not an exchange most likely so you don’t need to read this part so I found another article here on the simple crypto blog and the Tron main net token conversion all the way back in March this actually posted but um this is a very good article to explain everything that’s gonna to happen to Tron let’s actually read this whole article because this is one of the best explanations that could have been given for the whole process that’s that Tron is gonna go through so news on trial main at launch being moved up to May 31st has a lot of holders excited originally slated for the date no longer than July 1st this is referring that they actually posted something on Twitter saying that they’re gonna be working on their main net and that it’s gonna be no later than July 1st but they actually got it like earlier a whole month because it’s not gonna be June 1st the development team has been working did night and day literally with locations in San Francisco and Beijing to not only reach this deadline but now officially preparing for its early release with may net launch nearing however many people new to cryptocurrency were not really sure what that meant or how it affected them so this is really our issue as well one of the key points to the main at launch will be trance conversion of the ìiî Amir c20 token to the Tuan Tony how this conversion takes place and what it means seems to be the biggest question so we’ll address that today so really everything that we had questions for will be covered in this article so a little background currently Tron isn’t 20 token meaning it was built off the Tyrian blockchain as a smart contract we said that before he token has limitations which is why it was actually almost literally what we said it’s kind of funny which is why it is used for the most part as a token for I SEOs but just in certain plants for Tron meant that are just insurance plans for Tron meant that Tron had to become its own coin platform able to host contracts for other companies and run more efficiently than aetherium more scalable and everything go from 15 TPS to 1,000 TPS along with cheaper transactions almost free so thus the reason for the maintenance their own blockchain and life functioning blockchain platform created by Tron to run the ear or Tron 20 token so how does this affect you as a holder as a Tron dollar TRX holder well currently your bags are filled with Tron ERC 20 tokens and – I need you to convert these to their new or to death Tron 20 standard some of you have them on hard wallet some of yours some of some Wow someone software wallets and the other on exchanges and for now that is totally fine actually trying launch is their main net we will need all we will all need for our OC 20 tokens to be converted here is will here’s what will happen Mike sorry as my reading is not on point right now I don’t know why so Iran will make an announcement that the main that launch is complete this is our future by the way they will notify holders on when to begin moving coin to the exchange for conversion yes the exchange will ultimately need to convert their tokens they will trade out your either C 24 Tron 20 so that is referring back to what it says here for if in exchange you know you need to do this these steps but these chases will be notified most likely and they will know what to do because um they will know and then uh we’re worried again they will notify you how long you will have to complete this process for other coins I have seen a general timeline of about two months and after the conversion is done for a short time period you’ll be limited as to where you can move funds obviously the exchange is a place to store them also the official Tron wallet your quantity and value did not change what you had going in is what you’re gonna have going out price is dictated by the market so what I’ve read here is that the the value are the actually the exchanger is gonna be one-to-one so one on the old one is gonna be one on the new one so it’s not gonna be much going on it’s just gonna be a change from the ERC 20 to the neutron blockchain but still there’s some debate going on because other people say that you don’t have to do anything you actually can leave it on whatever wallet you have but you have to do it you don’t have to change anything and then in some other sources I found that you will have to have it on an exchange to actually be able to convert it so I’m just gonna say that you should have it on an exchange a lot of people are skeptical that exchange is saying they could you know get hacked or whatever if you’re just careful the chances of that happening is very small and I guess you can just put it on there and middle of June and nothing will happen to it for the rest I really don’t know what else you could do but just without having any other in exchange maybe you can maybe they will launch something on the Tron website itself for you to actually change it so now for the questions pertaining to that break down until the deadline Tron sets your coins are perfectly fine where they are at you do not need to move them until told by Tron yes at some point you have to move your coins to be converted this is part of the process that everyone has to deal with when a or C 20 becomes its own coin icon I see X in that process now I said already over or not I don’t actually know and you until nano Ledger s has given you an update for their product to be Tron 20 compatible you will not be able to send your charm back to your hard wallet why is that well if you tried sending your Tron now as a to an LTC address what would happen to your trunk coins they would be gone forever as the addresses are not compatible same thing with the hard wallet they will not be compatible so you will need to keep them on the exchange or transfer to the Tron wallet that is of course very logical if you have ever worked with the crypto don’t send your Tron to a light address I don’t know why anybody would do that in the world but so you will need to keep them on a yeah I have total faith in the security of shrine wallet and belief they should be or should have eight should have all safety measures in place like a two-factor authentication I think they will have that Iran is quite big so believe they can’t fix that to ensure your funds are safe Nana legend has a roadmap on how they add coins to their wallets but I can assure you with the overwhelming volume Tron has they will be looking to add that rather quickly here for sure for the most part this is what you can expect with the maenette launch and Ceri conversion of tokens it is a slight hassle in an overall bigger picture that will be a huge that will be huge to the value of Tron to your ex for the long haul without the main net and Tron 20 Tron is limited on what they can accomplish that is very much true because if they can’t really get other companies on the blockchain they can really progress because that is all they want to do with all those games and stuff of the industry that going for with their own platform and the coin Tron now has the ability to start working on their rope map which ultimately will increase the value of Tronics financially long term that’s really we’re going for here long term Tron growth as you said hundreds of times as you will be able to host smart contracts on that Tron blockchain increase volume via users and continue to climb to higher prices for dedicated holders and also the coin burn that is gonna go on whenever somebody I don’t know if that’s really I think if I believe it’s whenever somebody gets a contract going 1,024 Tron is burned it says just like whenever somebody adds something to the blockchain it gets 1024 Tron burn but I it could not be a block each time because that would be every second I believe or every minute I don’t remember how many blocks they’re all which one is it every second or every minute whatever guys but you get the point here and I guess we covered the general thing that you do not have to worry about converting your coins everything will be fixed you get later instructions there’s nothing gonna be going on I just recommend putting on an exchange before that but in the article they say you could just do it later they’ll tell you what to do and I do believe that it’s true as well you then won’t really be any issues with that I believe everything will be fine on that behalf and that was my video for Tron right now guys I thank you guys for watching this Tron video I would like you guys to comment something below what you would like to see in another video or what you wouldn’t just like to see in general and hopefully you see you guys later in another video bye guys

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