Tron is a third generation blockchain project. It means that it doesn’t only include a digital asset (though it does, Tronix or TRX in this case) but it’s also a programmable platform that can deploy decentralized applications, smart contracts, and last but not least, it also empowers Tron community members to issue their own Tron-based cryptocurrencies, just like Ethereum does, only better.
Why better? Because of Tron offers two different technologies for issuing tokens: TRC10 and TRC20. The second one is the more sophisticated option while the first one is a rather basic one.
And while TRX can be bought and traded in many cryptocurrency exchanges, its derived coins can only be traded at Tron’s own decentralized exchanges, which deal only in TRX and its TRC10 and TRC20 cousins. In other words, if you’re interested in this kind of asset you have to deal with the fact that none of the world’s exchange platforms support it. Until now.
ABCC, a cryptocurrency exchange, just announced yesterday that it would be the first trading platform in the world to adopt Tron’s TRC10 tokens. Here’s the tweet they published regarding this:
We are excited to announce our partnership with @Tronfoundation ahead of #niTROn2019! @Justinsuntron#ABCC is the 1st exchange that will list #TRX 10 tokens – We are one of the top exchanges with great security and user interface. Stay tuned!
#Blockchain mass adoption is coming pic.twitter.com/8T5mcgB9jn
— ABCC Exchange (@ABCC_Exchange) January 15, 2019
Justin Sun, Tron’s CEO and founder, reacted to ABCC’s tweet, opportunely as ever, by confirming it with a tweet of his own:
ABCC Exchange is truly an awesome platform that has witnessed great development. We are glad to partner with #ABCC as it's the first exchange listing #TRX10 tokens. #TRON #TRX $TRX https://t.co/8VO7Z2jGOY
— Justin Sun (@justinsuntron) January 15, 2019
The exchange’s move shows great confidence in the future of Tron-based digital assets in particular, but also in Tron’s future as a blockchain project in general, which is becoming a more common attitude towards Tron within the crypto verse.
This move will save TRC10 token owners a lot of hassle in turning their virtual money into fiat because you will be able to make all the needed operations within a single site, instead of bouncing your funds from wallet to wallet and site to site to perform the one operation you need to carry out in a given site.
There are other reasons for this news to be quite interesting. The BitTorrent Token (BTT), which will be issued by the BitTorrent company as a reward for seeders in its network (which happens to be the world’s decentralized network, incidentally) once that Project Atlas is completed and BitTorrent runs entirely on Tron’s blockchain.
BTT will be a TRC10 token which means that it will be available for trade at ABCC, so there’s every chance that, as long as it’s the only trading platform in the world that supports TRC10 technology, many BitTorrent users will have nowhere else to go to take advantage of the token rewards the network will give them. As things stand, that could be a huge captive user-base as BitTorrent has about a hundred million unique users monthly.
The news is very timely as they came up today, just a few days before Tron’s Summit (called niTron) begins in San Francisco, coming Thursday (tomorrow).
Tron keeps reporting great news consistently, so it’s worth your time and energy to keep an observant eye on it.
Image courtesy of PixaBay.