TRON tokens with a lot of potential? TRON launches the first decentralized stablecoin
TRON: Decentralized Blockchain Operating System with Internal Coins TRX
Introducing a Fully Decentralized
Stablecoin The Goal of TRON: Fully Decentralized Blockchain
Cryptocurrency company TRON was founded in Singapore in 2014 by Chinese-American businessman Justin Sun. The associated TRON TRX tokens are currently ranked 22nd largest cryptocurrencies in the world with a market capitalization of $6.3 billion (as of April 25, 2022). But TRON coins were already worth much more: after a huge price increase, TRX was temporarily the sixth largest cryptocurrency in the world with a market capitalization of 12 billion US dollars in January 2018. However, TRON could take advantage the old force in the coming months. Potential catalyst for a renewed boom: USDD stablecoin launch scheduled for May 5, 2022.
TRON: decentralized blockchain operating system with internal cryptocurrency
TRON is a decentralized blockchain operating system where not only smart contracts can be created and managed, but also entire application programs. TRON's main focus is on the media and entertainment industry, which can share files, create content, or introduce their own tokens to the blockchain. The goal of TRON is to bypass the dominant media giants, such as Alphabet division YouTube, or Meta Plaforms subsidiary Facebook, in order to properly reward the actual authors of the content. As payment, creators can receive tokens of the in-house cryptocurrency Tronix (TRX). These allow access to certain functions of the TRON software. The decisive advantage of the TRON blockchain is the enormous speed of data processing:
Fully Decentralized: TRON USDD Stablecoin Launched
As soon as next week, TRON wants to introduce the launch of a new stablecoin, as TRON founder Justin Sun announced in a letter. Such a stablecoin means a cryptocurrency that tracks the price of a national currency, a basket of currencies, or other assets. TRON USDD is pegged 1:1 to the US dollar and is fully decentralized. Unlike the previous Tether USDT and USD Coin stablecoins, there is no longer a need for a central entity responsible for exchanging, managing and storing the stablecoins. Instead, the algorithms should make USDD accessible to everyone. USDD is said to be a major step towards the first fully decentralized blockchain in the entire crypto universe, as TRON recently tweeted.
TRON Founder Justin Sun: “Financing Through Crypto Accessible To All”
In a letter on his blog, Sun explains the ambitious goals he is pursuing with the launch of the decentralized stablecoin: “TRON DAO has partnered with key players in the blockchain industry to bring USDD (a decentralized US dollar) to the market. market, bringing the most decentralized stablecoin in human history that will make finance accessible to everyone through cryptocurrencies. This will allow people to enjoy the unlimited availability of a coin without having to rely on a centralized entity.” Will TRX owners benefit from these ambitious future plans?
TRON tokens on the rise after stablecoin announcement
TRON TRX tokens reacted to the innovative growth plans of the TRON blockchain with a price jump. On April 22, 2022, TRX surged 16 percent to a high of $0.074. But in the currently weakening crypto market environment, the price catalyst quickly fizzled out again: TRX is currently only trading at $0.06192 (as of April 26, 2022), roughly corresponding to the value before the announcement. . Therefore, it remains to be seen to what extent the decentralized stablecoin will positively influence the development of TRON tokens. At least some analysts are optimistic. “Price Prediction” expects TRX to be worth $0.11 by 2023, which would almost double it. Other forecasts even assume a rise to US$0.25.