Since the advent of smart contracts on the blockchain, the race has been on between dapp platforms to lead in the area. The world is still a long way from full mainstream adoption of blockchain platforms, leaving a lot of time for top crypto projects to fight for leadership.
Ethereum is currently the most renowned blockchain platform, but its transaction speed and scalability issues give developers a reason to doubt. In Ethereum’s moment of weakness, one crypto project that has shown great promise in competition is Tron.
In 2018, Tron made a bold move in the middle of the crypto bear market to acquire BitTorrent. Then the platform went ahead to create the BTT token for the BitTorrent ecosystem.
The notable companies Tron partnered with in Q1 2019 include Tether, Oracle, and CoinGate.
Tron (TRX) is simply a blockchain dapp platform focused on disrupting the digital world by putting power back into the hands of users. The project started out on the Ethereum blockchain but gained independence on June 25, 2018 when its mainnet was launched.
Justin Sun is the founder and CEO of Tron. The Tron blockchain is run and operated by the Tron Foundation, a nonprofit registered in Singapore.
Tron carried out a hard fork recently on February 28 to upgrade the platform. Among the notable new features of the upgrade are multi-signature addresses and account management, which makes the platform suitable for institutional investors.
Tron Q1 2019 Partnerships
In the crypto world, high-profile partnerships are a common motivator that bring users to blockchain projects. Blockchain dapp platforms require developers, and users for the developed dapps. Currently, Tron looks good for dapps that require a lot of transactions, and the platform dapps are cheap for the users — unlike Ethereum, which is often costly and slow.
Early in 2019, Coingate announced the listing of Tron. It is now possible for TRX holders to make payments to merchants on Coingate with the TRX token. Coingate functions more as a payment channel than a crypto exchange, so this is more good news in terms of spurring adoption.
The ABCC exchange became the first exchange to list TRC-10 tokens, which are tokens on the Tron blockchain.
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
At the niTRON summit in San Francisco earlier in the year, Tron officially named Oracle among its partners, along with Aurora, Pantera, and Steemit. The nature of the partnership is yet unclear, but Tron and Oracle’s collaboration may yield interesting results in the future. This collaboration has been a long time coming, since Tron CEO Justin Sun first gave the hint in October 2018, mentioning that an Oracle team visited Tron HQ.
The biggest of Tron’s partnerships so far is with Tether, the company that produces the USDT stablecoin. The goal of this partnership is to launch USDT on the Tron blockchain. This USDT coin will be a TRC-20 standard token, meaning that it will be interoperable with Tron-based protocols and dapps. The stablecoin is expected to be launched by Q2 2019.
Even though Tron boasts an impressive 2,000 transactions per second, many in the crypto community still opt for Ethereum as the preferred dapp platform as shown in this poll. However, that has not stopped the thousands of users Tron records every day.
Tron seems to be the strongest competition Ethereum has right now. Tron recently surpassed 2 million mainnet accounts. While Ethereum struggles with scaling issues, Tron looks to be advancing with partnerships to make blockchain more relevant.
Do you think Tron market cap can overtake Ethereum in the next 2 years? Express your view in the comments.