Justin Sun Names First Exchange to List Tron-Based Tokens, TRX Added to CoinGate

  • Yuri Molchan
    📰 News

    Tron CEO announces that ABCC exchange is partnering with Tron to become the first ever platform that will support the TRC-10 token standard


Justin Sun Names First Exchange to List Tron-Based Tokens, TRX Added to CoinGate
Contents

Just recently, the ABCC exchange tweeted that it has begun offering support for the TRC-10 standard of coins and intends to list 10 TRX-based tokens soon.

Is Tron copying Ethereum?

Until now, the most famous token standard was the Ethereum-based ERC20, which was used by Tron and EOS to launch their initial chains on Ethereum before they set out on their own mainnets in mid-summer 2018.

Now, it seems that Tron is so eager to outperform Ethereum that it has introduced its own token standard and is going out of its way to spread it around the crypto industry.

In early 2018, Vitalik Buterin accused Tron of plagiarizing Ethereum’s white paper. Recently, Justin Sun made an update of the aforementioned document and publicly invited Vitalik to censor it, as U.Today reported earlier.

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What exactly is TRC-20?

As per the developers’ guide, TRC-10 is a token standard that is supported by the native Tron (TRX) blockchain and which works without using the Tron Virtual Machine (TMV) – also a feature initially made by Ethereum (Ethereum Virtual Machine) but later on adopted by Tron.

Meanwhile, TRC-20 tokens are used for running smart contracts supported by TVM and are fully compatible with ERC20 tokens.

Earlier, it was reported that the TRC-10 standard will become the basis for the BitTorrent coin (BTT), which is going to be used as an incentive for BitTorrent users in the future after the 100-mln user-base of the file-sharing giant is integrated into the Tron network. The token sale of BTT is expected to happen on the Launchpad platform recently set up by the Binance exchange.

Recent TRX adoption cases

Recent posts from exchanges on Twitter bring good news for Tron community members. TRX has been listed on OKCoin. Another piece of good news is that TRX has become integrated on the CoinGate payment service, opening TRX for acceptance by thousands of online vendors.

Finally, the TRXMarket dex has been added to Coincodex, to its list of rated exchanges.

Current Tron market stance

At the time of writing this, TRX is trading at $0.0245, still holding position #9. Over the last 24 hours, the coin has shown a drop by 2.10 percent. Its current market cap is $1 639 184 033, which is around $300 mln lower than that of Litecoin.

Current Tron market stance

 

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