LONDON, UK / ACCESSWIRE / August 24, 2020 / Centric Foundation announces its first TRC20 token, Centric, is adopted by Bittrex Global, the famous European trading platform headquartered in Liechtenstein (Bittrex tweet: https://bit.ly/3l9BN9e ). With growing interest in the lightning-fast and transaction-heavy TRON ecosystem, an increasing number of exchanges are expressing interest in adding TRC20 tokens to their platforms.
And for good reason, tokens like Centric possess a number of advantages, especially in the trading environment. Being a non-exchange based stablecoin[1] , Centric holds a promise of fulfilling all obligations abandoned by centralized stablecoins like Tether which has only 76% of its coins collateralized. Centric provides safe and compliant storage of funds for those looking to shift from speculative currencies and toward tokens offering a reliable price stability mechanism.
Two years ago, tech entrepreneur Justin Sun launched TRON, an ambitious blockchain project aiming to expand the field of decentralized finance (DeFi). With a mission to decentralize the internet, TRON is frequently compared to blockchain veteran Ethereum. TRON, however, handles much higher transaction volume with minimum energy consumption, making it an attractive blockchain platform alternative for many crypto projects.
Like David battling Goliath, the underdog TRON's ambitious plans and execution have led to outranking its rival per China's Global Public Chain Technology Evaluation Index, outpaced only by EOS. Further, as Tether (USDT) currently leads the field in market cap, approximately one third of its supply comes from the TRON network, the second-largest supplier after Ethereum.
More recently, TRON released TRC10 and TRC20 tokens as an obvious answer to Ethereum's ERC10 and ERC20 tokens, the latter credited for driving the DeFi ecosystem. While TRC10 offers a basic range of tokens run on TRON mainnet, TRC20 brings higher functionality and incorporates a smart contract feature, allowing decentralized applications access to instant transactions.
In August, TRON launched the JustSwap platform, describing it as TRON's "own version of [Ethereum-based] Uniswap," a fully decentralized protocol for automated liquidity. On the day of launch, it provoked a massive agiotage from crypto enthusiasts in China[2] , with close to a million viewers[3] following a live stream with CEO Justin Sun.
A growing number of exchanges are now beginning to adopt the newly-minted TRC20 tokens. Incidentally, Bittrex Global listed its first on the same day of the JustSwap launch.