TRON [TRX] mainnet celebrated its fifth anniversary with close to 160 million users since its launch in 2018. The leading public chain has so far processed over 5 billion transactions.
It also outshined the altcoin pack with a TVL [Total Value Locked] of $5.76 billion, trailing behind Ethereum.
In addition, it is anticipating the launch of the Hong Kong retail crypto trading platform which is scheduled to be on June 1 in accordance with the press release.
Following TRON’s anniversary, Hong Kong’s Securities and Futures Commission [SFC] will begin accepting applications for crypto trading platform licenses on June 1. As a top-tier public chain with a Chinese background, we promised full support for Hong Kong’s efforts to develop Web 3.0.
The statistics on Tether’s website showed that the amount of TRC20-USDT in circulation has surpassed 46.1 billion, much exceeding the amount of ERC20-USDT [36 billion], and making over 60% of the total supply of USDT.
Meanwhile, the TRON team is also working towards building a diversified stablecoin network and a sounder public chain ecosystem for users through its sustained efforts to grow the business of USDC, TUSD, USDD, and USDJ, among other stablecoins.
The TRON blockchain, led by crypto entrepreneur Justin Sun, seeks to increase its on-chain stablecoin market cap to $100 billion in 2023 and aspires to become the stablecoin users’ first option by promoting itself as “a more accessible and user-friendly version of Ethereum.”
“Against the ever-fiercer competition among public chains around the world, it has stood out with its second-to-none performance, scalability, and security, attracting masses of developers and users worldwide,” it added.
TRON was in the limelight recently after a security flaw was made public by the researchers at dWallet Labs.
TRON’s Major Security Risk Averted
In a tweet, dWallet Labs stated that they spotted a zero-day vulnerability in Tron multisig accounts, allowing an attacker to avoid the multisignature system and sign transactions with a single signature.
If left unfixed, the vulnerability might have risk $500 million worth of funds housed in Tron multisig accounts. This is due to the fact that it enables anyone to “completely overcome the multisig security offered by TRON.”
The solution, according to dWallet Labs CEO Omer Sadika, is straightforward: validate the address rather than the number of signatures. The issue was reported to the blockchain’s team in February and resolved a few days later, the researchers stated.