With a hope that this year will be bullish enough for the crypto market, exchange firms are all set to gear up their further moves in the space. Reportedly, a leading exchange platform ABCC has shaken hands with the ninth largest cryptocurrency Tron (TRX).
On Jan. 15, a tweet revealed that ABCC Exchange has partnered with TRON (TRX). later, Tron’s founder and Chief Executive Officer Justin Sun reaffirmed the info through a tweet. With this partnership, ABCC exchange has become first ever crypto exchange to list tokens based on Tron’s TRC10 standard:
— Justin Sun (@justinsuntron) January 15, 2019
Notably, the exchange declared a few days ago that it is planning to add support for tokens built on both the TRC10 and TRC20 standards. The Tron’s guide for developers explains about TRC-10, “TRC-10 is a technical token standard supported by TRON blockchain natively, without the TRON Virtual Machine (TVM).” It also gives details of TRC-20 stating, “TRC-20 is a technical standard used for smart contracts on the TRON blockchain for implementing tokens with the TRON Virtual Machine (TVM). It is fully compatible with ERC-20.”
In December, Sun said that he would generate a fund to rescue Ethereum and EOS developers from what he named, ‘the collapse of their own platforms.’ However, this is possible only if the developers migrate their decentralized apps to TRON.
Apart from that, the former chief strategy officer (CSO) of BitTorrent, Simon Morris has expressed skepticism regarding Tron. He believes that Tron might not be able to handle the transaction volume required by the popular file-sharing platform. According to Morris, there’s “no way” the capacity of its network would be sufficient. He noted that the transactional capacity was needing hundreds of transactions a second only to get started. He said, “We were going to melt Tron. Literally, destroy it.”
Additionally, on the day of this announcement, it was marked that TRX dethroned Tether hitting the 8th spot regarding the total market capitalization:
The price of #TRX has been rising rapidly!
This is testament to the good news we have been hearing from @Tronfoundation recently. We are currently working with Tron to list TRC-20 and TRC-10 on ABCC Exchange!
More details will be shared with you shortly. Stay posted! pic.twitter.com/xZGAaoIydW
— ABCC Exchange (@ABCC_Exchange) January 10, 2019
At press time, the average trading volume of TRX is approx $1.63 billion. Currently, the coin is trading at $0.024, down by 3.63% on the day.