Justin Sun Hints at Collaboration with Ethereum (ETH) in 2019
The TRON virtual machine was built to be compatible with Ethereum, and Justin Sun hinted at further partnerships by the end of the year.
Justin Sun, co-founder of TRON (TRX), hinted at possible partnerships with Ethereum (ETH) by the end of the year. During an interview with Rachel Wolfson on The Crypto Chick, Sun mentioned the potential to collaborate with Ethereum developers.
“Even this year you will see TRON (TRX) officially collaborating with Ethereum (ETH) to do something good for the industry,” Sun said, without revealing details.
During the interview, Sun also hinted at the upcoming Layer 2 solution for the TRON network. Additionally, he encouraged holding onto USDT tokens created on the TRON network, for the chance of receiving interest rates of up to 20% annualized. Sun believes the TRON network may be able to move USDT coins much faster than their current daily transaction limit. USDT is based on the Bitcoin Omni layer, and is limited by transaction fees and congestion.
“USDT-TRON will firstly bring more users to the industry because it is easier for those who are unfamiliar with digital currency to understand and accept. As a result, more people will take notice of TRON, and the whole industry will benefit,” said Sun in an earlier blog posting.
The TRON ecosystem is built with some compatibility to the Ethereum Virtual Machine (EVM). However, the network is quite different, relying on a series of delegates to produce blocks. TRON is seen as one of the most active networks, with a high transaction count and a wide user base.
Additionally, the TRON network is seen as a direct competitor to Ethereum, with much more distributed app users. TRON dApps see thousands of users each day, while Ethereum usage is stalling at a few hundred users, with previously popular dApps seeing almost no activity.
The TRX market price saw limited growth during the latest Bitcoin (BTC) rally. The asset peaked around $0.029, later retreating to $0.027. TRX is out of the top 10 list of coins by market capitalization, displaced by other booming coins.
ETH prices inched up, boosted by the performance of Bitcoin (BTC). ETH was trading at $176.32 as of 11:30 UTC on Monday, after briefly breaking above the $180 level.