Wednesday, February 19, 2020

Justin Sun: New TRC-20 Based USDT Would Make TRON the Outright Leader of DApp Industry

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Adedamola Bada
I'm Damola, a computer engineer from Obafemi Awolowo University. A crypto enthusiast, marketer, and writer who is seeking to achieve career excellence through hard work and positive contribution to the organization that aspires for excellence. Contact me on damolabada@gmail.com

Justin Sun, founder and CEO of TRON foundation has set lofty heights to match the recent impressive that the network has had in the past few months, and has set a target of 2000 decentralized applications to be launched on the TRON platform before the end of the year.

TRON’s the Reigning DApp King

It was revealed a month ago that TRON’s weekly transaction volume had increased by more than 205 percent and was seriously outperforming major competitors: Ethereum and EOS. While EOS is having the most activity, TRON is undoubtedly having more success. It wasn’t a major surprise really, except people chose to close their eyes to the striding progress that TRON had been prior to that week. While Ethereum has the most decentralized applications on a blockchain, it has the least user activity: hundreds of Ethereum-based dapps have not even made a successful transaction in a month.

The TRON summit that held in January early this year sheds more light and why TRON is leading the chase in the dApp industry.  In a panel of gaming companies that included a representative from Ubisoft, some game makers revealed they abandoned Ethereum’s ERC-20 ship for a more supportive community present on the TRON platform. The ‘supportive’ factor must be the hidden ingredient sweeping suitors away from competitors. 

Introducing a TRC-20 Based USDT

Justin Sun has revealed plans to launch native stable tokens on the platform. According to him, the instability of the cryptocurrency market and prices have been a significant factor driving away institutional investments and most importantly mainstream adoption of digital currencies. However, for a platform which is bent on creating the next decentralized internet and driving blockchain adoption across the world, stability would probably be one of their primary goals. Justin Sun said, regarding the prospect of USDT built on the TRON network:

“I think of USDT built on [the] TRON blockchain as a win for the blockchain industry and for our community. More people will be able to trade TRX, BitTorrent (BTT), and other TRC-based tokens through the TRC20 based USDT pair, creating liquidity. In turn, liquidity helps build confidence and trust that typically results in greater stability throughout the ecosystem.”

Justin further revealed that following the launch of the TRC-20 based token would be incentives to reward holders of the coin within the first 100days of launch. By infusing an element of stability in the network, Justin believes the development would drive TRON to be the outright leader of the blockchain industry. TRON has launched more than 300 Dapps within a few months, and that number is set to hit 2000 by the end of the year according to Sun.

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