Justin Sun points to how the year 2020 was a year full of ups and downs. With the CoVid-19 pandemic dealing a heavy blow to the global economy, the TRON brand is all set to bring in a new hope to the industry bringing in a new sense of vitality to the brand.
TRON is focused on becoming the next generation financial infrastructure for mankind. With the coming of TRONBULL, the TRON mission is gaining a new symbolic meaning. TRON is set to be the Future, unlimited.
The number of projects on the TRON ecosystem is indeed overwhelming for some new users who are looking to understand the ecosystem.
There are lot of things. The first thing that new users understand about TRON is TRX and after that they are having to get used to a whole range of tokens in the TRON ecosystem. There are lot of things happening at the same time in the TRON ecosystem and any user who ventures in to the ecosystem is having to think in terms of lot of things like BitTorrent, BTT, SUN, BTCTRON, DeFi JUST, TRC20 tokens, WETH and WBTC. It just looks like the TRON foundation does not have any limitations or tradeoffs. Almost everything available in the industry and that which is claimed to be unique in another ecosystem is added to the TRON ecosystem cocktail with a new name.
Justin Sun recently tweeted: TRON together with BitGo, the leader in digital asset financial services, have successfully launched Wrapped Bitcoin (WBTC) & the newly minted Wrapped Ether (WETH) on TRON as TRC20 tokens.
Wrapped Bitcoin (WBTC) is pegged to Bitcoin and has over $3B worth of bitcoin in custody, while Wrapped Ether WETH is pegged to Ether. BitGo is the sole custodian for the underlying BTC and ETH.
One of the New-Bie openly expressed, It is getting a bit confusing here. Now there is WBTC and BTCTRON on the Tron Blockchain. Not really newbie-friendly.
Someone who tried to help clarified stating, WBTC is a ERC 20 token issued on ETH. BTCTron is a TRC 20 token issued directly on Tron. Soon you will see more ERC 20 tokens on Tron.
Someone thought this is getting ridiculous and was wondering how about we wrap a wrapped BTC in a wrapped tether in a wrap. No wonder this will soon happen in TRON. So, how does holding all of these increase the value of TRON (TRX) HODLers thinking!
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
Get the latest Crypto & Blockchain News in your inbox.
