TRON As Currency: Kingdom Of The Netherlands To Adopt TRON As Legal Tender

Christian Encila

2 years ago

3 mins read

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On January 24, Justin Sun, TRON Founder, announced that St. Maarten has expressed his wishes to adopt TRON which is alongside TRON’s goals of massive adoption on a global scale.

St. Maarten bares plans of adopting TRON
TRX price down by 3.31%
Price to peak by Q2 of 2023; could potentially shoot to $0.0973

St. Maarten, also spelled Saint Martin, is a country located in the Kingdom of the Netherlands in the Lesser Antilles, northeastern Caribbean Sea.

Image: Zipmex

Decentralization, The Name Of The Game

TRON (TRX) refers to the decentralized open-source blockchain network that allows users to seamlessly connect with each other while also providing them access to a myriad of entertainment applications including graphics, videos, and games.

Essentially, decentralization remains the focus of the TRON project which facilitates the smooth transfer of money between users without any interference from financial companies or middlemen.

Another milestone for #TRON! St Maarten to adopt TRON as legal tender marks another achievement for our push on worldwide blockchain adoption.https://t.co/HXEnouj0Le

— H.E. Justin Sun🌞🇬🇩🇩🇲🔥₮ (@justinsuntron) January 23, 2023

The contrasting factor lies mainly in TRX unique architecture, as it is dispersed into three categories or layers:

the Storage Layer which has a distributed block storage
the Application Layer which is mobilized by developers for creating dApps that are used for issuing tokens
the Core Layer which consists of varied modules and smart contracts

These different layers are interconnected using a protocol that is compatible with multiple programming languages.

More so, the network also has built its community which is fostered towards the goal of speeding up the internet’s decentralizations with the use of blockchain and dApps.

On December 27, the TRX community merged with the Enterprise Ethereum Alliance (EEA) bandwagon, which is geared towards promoting best practices with the use of Ethereum blockchain technology, enabling real-world applications and processes.

TRON As Legal Tender; Social Volume Up

With St. Maarten’s announcement declaring the adoption of TRON as legal tender, its native token responded accordingly with metrics looking positive.

TRX’s social volume spiked which hints at its booming popularity. More so, TRX also exhibited an increased demand in the futures market with its Binance Funding Rate extremely high.

TRX total market cap at $5.5 billion on the daily chart | Chart: TradingView.com

However, the network’s development activity has plunged as seen in the past couple of days which could pose problems for the network. According to CoinMarketCap, TRX price is seen to retreat by 3.31%. The token is trading at $0.06068 as of this writing.

Evidently, investors have so much to rejoice about with TRX looking to spike in the next couple of days as seen in the recent market indicators, with the crypto peaking in the Q2 of 2023 or reaching as much as $0.0973.

With St. Maarten’s collaboration with TRON, the latter taps into the inclusive and expansive global network which can further boost the island nation’s economy.

Featured image by World Atlas

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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