Binance just released a detailed report on Tron and TRX. The report examines the partnerships Tron has forged in its quest to build a decentralized Internet, along with its growing number of DApps and varied uses cases of TRX.
According to the report TRX can be used in many scenarios. The report illustrates 4 major areas of use for TRX tokens.
- Payments for services and goods provided by service providers and merchants on the Tron network
- Payments for fees and commissions for running native smart contracts
- Exchanging for 3rd party issued Tron Classic (“TRC”) network tokens
- Freezing TRX to delegate energy towards running smart contracts or voting for Super Representatives
The report also includes some recent news and developments in the Tron world. Justin Sun has made it evident where new users will come from. The Tron Foundation has strategically placed itself in a position to gain notoriety inside and out an oasis of the blockchain space.
The peer to peer file sharing platform, BitTorrent brings millions of potential new users into the crypto scene. MixMarvel has launched several popular games on the Tron blockchain. And CoinPlay was an important acquisition that gives Tron its own App Store.
Tron is the fastest growing blockchain protocol in terms of active users on DApps. There are a number of gambling and other gaming DApps that garner tons of use with more popping up every day.
CEO Justin Sun spoke about Tron’s recent developments on Rachel Wolfson’s podcast. Sun asserted that Tron is not only for entertainment.
“We’re getting lots of interest from these institutional investors. I think we’ll do everything to fulfill their requests because when the institutional investor gets into this industry they have lots of requests.”
He thinks the addition of Tron based stablecoins will be an important addition to the crypto industry.
“It’s impossible to use the USDT on-chain, and all of these problems will be solved after we launch the USDT Tron, and we migrate the majority of the USDT-Omni to USDT-Tron.”
“I think it will benefit the whole industry. Most of the congestion and the bad experience of the stablecoin comes from the Omni blockchain because this is an obsolete solution with extremely expensive, slow and also unreliable infrastructure for the stablecoin.”
Sun claims the demand for a Tron based stablecoin is too high to ignore.
“We’re closely following events with Tether. We’re however seeing amazing demand for TRON based USDT and will postpone our 20M Incentive plan till May 7th 0:00(UTC+8), so exchanges have more time to complete the swap.
Tron seems to be making inroads with many different potential players in the crypto game. Sun and Tron also have the favor of the right people in the crypto world such as CZ and Binance. Although some may not like the in your face marketing style of Justin Sun, it would be hard for anyone to say Tron is going in the wrong direction.