The prelude was already set last month when TRON founder Justin Sun announced the much-awaited arrival of Bitcoin at TRON ecosystem in near future. As per his statements back in September, Bitcoin was poised to arrive as Wrapped Bitcoin (BTCTRON) at TRON, the same way MakerDAO did for Ethereum network. The event happened on October 1, 2020, and as of now, TRON has a whopping number of 3,000 BTC in circulation – certainly a milestone for the relatively new blockchain ecosystem.
Sun was more than pleased to share the news via his tweet on October 10, 2020, which received a huge response from the crypto world. As per his tweet, TRON now hosts as many as 838 holders of BTCTRON who have undertaken a massive number of 8,128 transactions. According to sources, BTCTRON has been widely embraced across the TRON community and the number of holders and transactions are only increasing.
TRON sidechain and unlimited scalability
The arrival of BTCTRON at TRON comes after the recent launch of Sun Network (TRON’s sidechain) a couple of months back. The sidechain serves as an efficient scaling solution designed to offer uninterrupted scalability to TRON MainNet. It’s to note here, the Network has incorporated various scaling projects like DAppChain. It’s an advanced sidechain scaling system which provides seamless scalability to TRON MainNet. Besides, it’s also meant to power up transaction processing of smart contracts and cut down transaction fees.
BTCTRON comes with benefits
TRON has introduced a feature called “swap” that will enable users to exchange BTC for BTCTRON on Poloniex crypto exchange. The process of swapping is a free procedure and no fee will be deducted for swapping BTC to the latest BTCTRON or BTCTRON to BTC.
Another great bit is, the wrapped BTC version will transfer the coin value to a much faster TRON platform yet without losing out on anything amid the whole process. Besides, the BTCTRON version also assures excellent support for yield farming that allows a steady stream of passive income. One of the most popular use-cases of the DeFi boom, yield farming will provide a strong opportunity for users to proliferate wealth on TRON’s DeFi platforms.
TRON scaling up, garnering support beyond Crypto community
TRON has received around 2 million USD from the American government in the form of relief funds for the COVID-19 pandemic. It was a part of the government’s PPP (Paycheck Protection Program) which has been devised to keep small businesses up and running in the current testing time.
TRON is also claiming the headlines today for another big news. The blockchain platform has integrated with a new oracle system called “Bridge Oracle”- the first public oracle for TRON network. A decentralized oracle, Bridge is developed to enhance the functionalities of smart contracts which have long been limited for tokenization programming only. Thanks to Bridge Oracle, TRON is expected to come up with a growing number of Dapps which is only a meagre 750 now in comparison to Ethereum’s 3000.
Besides, being a public oracle, Bridge Oracle will allow mass-scale participation in the TRON ecosystem (not possible previously) and that would eventually pace up the TRON network a slot higher in near future.
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