Just a few weeks after Tron survived the hardfork, it was announced that it had entered into a partnership with Tether to launch the USDT tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details on the TRON network.
The upcoming TRC20 token will work on all TRON and dApp networks based on TRON. They will be used to transfer stable coins over the network.
The TRON network will become more accessible and convenient for institutional investors, which is not surprising since Justin Sun, the CEO of TRON, publicly stated last month that the company wants to attract more institutional investors when their native token was added into the BitGo registry.
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According to the enterprises, Tron officially collaborates with Tether to launch a stable version of the USDT coin based on TRC20. Adding a dollar-linked coin to the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details is designed to raise the existing Tron system of decentralized applications (dapps), improve the overall value and increase the liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details of decentralized data exchange (DEX). And, to make the network more accessible to partners at the level of enterprises and institutional investors. Companies expect to introduce USDT by the beginning of the second quarter of 2019.
"We are pleased to announce this collaboration with the Tron Foundation. This integration underlines our commitment to further innovation in the cryptocurrency space as we continue to anticipate the needs and requirements of the digital asset community," commented Jean-Louis van der Velde, CEO of Tether.
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TRC20 is a technical standard used for intelligent blockchain contracts to implement tokens with a Tron virtual machine (TVM), like the ERC20 Ethereum.
"Our collaboration with Tether in providing the USDT TRC20 token for Tron will bring incredible stability and confidence to users," said Justin Sun, founder of Tron and CEO of Bittorrent.
Editor: Yuliya Soroka