After a surge of stable coins forraying into the crypto trade market, Tether the most well-known stable coin has decided to up the game by partnering with the TRON network. The partnership between the two ventures is aimed at creating a more formidable stable coin based on the TRC-20 protocol.
The new TRC-20 based USDT will be launched on the TRON network to elevate the TRON’s existing ecosystem of DApps, increase the overall value storage and also increase its liquidity. The new token also aims to expand its portfolio to the enterprise partners and institutional investors. The addition of the USDT token on the TRON network is scheduled for the second quarter of 2019.
Jean-Louis van der Velde, chief executive officer of Tether. was quoted,
“We are pleased to announce this collaboration with the Tron Foundation. This integration underlines our commitment to furthering innovation within the cryptocurrency space as we continue to anticipate the needs and demands of the digital asset community,”
What are TRC-20 Tokens?
TRC-20 tokens are just like Ethereum’s ERC-20 tokens which are mostly used for smart contracts execution using the TRON virtual Machine (TVM). Justin Sun, the CEO of the TRON network believes that the addition of USDT on TRON would bring in more stability on the network along with the confidence of the community. The addition of the token would also allow the users to cash out their stable coins in the US dollars.
TRON is making some great development on its platform and the latest addition would be beneficial to both the blockchains. Recently TRON also launched BTT token for BitTorrent community and the ICO was an instant hit. soon after the Ico commenced, the prices of BTT tokens skyrocketed, increasing the demand for TRON launchpad.
TRON has been on a massive development mode in recent times, apart from launching various tokens based on its platform, the Dapp community of TRON is also rising on a daily basis. Recently we reported on the TronBet decentralized application, which has seen betting traffic amounting to $41 million on a weekly basis, and the users are earning tons of money on the platform.
TRON with its current beast development mode looks to peg Ethereum from its position and hoping to become the most trusted launchpad for the new and upcoming tokenization and Dapp projects.