ABCC Exchange, a digital asset exchange, recently announced that it has partnered with TRON (TRX), the ninth largest cryptocurrency. The collaboration was first announced via a tweet posted yesterday from ABCC Exchange’s account.
We are excited to announce our partnership with @Tronfoundation ahead of #niTROn2019! @Justinsuntron#ABCC is the 1st exchange that will list #TRX 10 tokens – We are one of the top exchanges with great security and user interface. Stay tuned!
— ABCC Exchange (@ABCC_Exchange) January 15, 2019
As part of the agreement, the ABCC Exchange will become the first to support the TRON ecosystem and list tokens based on its TRC10 technical standard. Justin Sun, the founder and Chief Executive Officer (CEO) of TRON confirmed the tweet yesterday via Twitter.
— Justin Sun (@justinsuntron) January 15, 2019
The news comes just days after ABCC revealed that it was adding support for tokens that are based on both the TRC10 and TRC20 standards.
The Participants in Forex Trading and their Role in the MarketGo to article >>
According to Tron’s guide for developers: “TRC-10 is a technical token standard supported by TRON blockchain natively, without the TRON Virtual Machine (TVM). TRC-20 is a technical standard used for smart contracts on the TRON blockchain for implementing tokens with the TRON Virtual Machine (TVM). It is fully compatible to ERC-20.”
Back in December of last year, the CEO of TRON, Sun, announced via a tweet that he would build a fund to rescue Ethereum and EOS developers from what he called, the collapse of their respective platforms. Although, this will only happen if the developers migrate their decentralized apps to TRON.
— Justin Sun (@justinsuntron) December 7, 2018
Former BitTorrent CSO believes TRON is in over its head
However, the former chief strategy officer (CSO) of BitTorrent, Simon Morris, has recently expressed his doubts as to whether the TRON blockchain can handle the transaction volume that the popular file-sharing platform will demand in an interview with Breaker Magazine.
Morris was the CSO of BitTorrent up until it was acquired by TRON last year. While working at BitTorrent, Morris shared that when he was the CSO, his team discovered that tokenization had the potential to make a platform run significantly faster. While he believes that TRON is trying to implement a similar concept, Morris thinks there’s “no way” the capacity of its network would be sufficient.
“The transactional capacity we were looking at was needing hundreds of transactions a second just to get started. It’s simply not there. You hear all the bullshit out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt Tron. Literally destroy it,” Morris said.
At press time, TRX’s average trading volume is around $1.63 billion. The coin is now trading at $0.024, down by 3.63% on the day, according to data from CoinMarketCap.