In a recent announcement made jointly by Tether, the issuer of USDT and Tron, blockchain protocol Tron i.e. TRX have collaborated to introduce the stable coin USDT to its network by mid-2019.
USDT was launched in 2014 and has been providing excellent service for storing and exchanging the values at a very fast speed. The upcoming USDT would be based on TRC20. This technical token would be supported by the blockchain technology of Tron. It would collaborate with all the protocols and decentralized apps based on the Tron’ s technology. Eventually, it would allow the users to transact and exchange the digital asset all across the blockchain.
Tron has been defining them as a true competitor of Ethereum. They have been dominating the Ethereum by combining the decentralized finance with decentralized internet network. The addition of USDT would surely enhance its ecosystem. It would improve the value storage of the exchange as well as would improve the liquidity of the decentralized network of the exchange. This collaboration indicates the availability of blockchain at institutional as well as enterprise level. Last year, the Tron network made a significant impact on the market by partnering with one of the popular torrent client, BitTorrent. With this partnership, Tron launched a peer-to-peer token known as Tron-based BitTorrent or BTT.
On the other hand, Tether has been facing tough competition after the evolution of several other stable coins in the market. Recently, the largest banking firm of America, JP Morgan also launched its own stable coin. With this collaboration of Tether with one of the giant organization in the crypto space, it would surely act as the catalyst for the Tether and would give it a superior lead over all the other competitors of the stable coin.