Binance Announces Completed TRX and ICX Token Swap procedure
Binance has recently announced completing the development behind its TRX and ICX token swaps, allowing exchange users to withdraw and deposit both currencies from the company’s framework.
Investors eagerly anticipated the introduction of TRON into its own system to finally select the network's representatives, essentially those who will be voted into power within the framework through a coin-based vote. According to sources, the transition of TRX coins into its native network by Binance has gone as planned.
This compares to the transfer process behind Ethereum’s network. Due to its governed operating nature, the network was riddled with countless issues involving several delays to the transition process and other problems concerning unconverted coins and more.
The development company behind the new transition has continuously supported TRON in its new relocation, taking their time to study, analyze and test its entire new network before launch to ensure that similar problems that have delayed Ethereum’s transition previously would not affect TRX in the same way.
Binance’s own conversion of TRX and ICX token swaps saw its own delays. Although the problems were not a direct result of any malfunction or emerging issues, TRON stated that Binance had taken their own time developing the token trade to guarantee the transition went as planned.
In the statement, the company explained that Binance development policies were much more precise than other exchanges. Binance continued developing, adding and removing certain features and conducting tests on the network to ensure its safety and rigidity. As Binance possesses a fifth of the total TRX token supply, complete insurance of the network’s operational status was required before launching the token trade.