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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

BitTorrent Bridge Breakthrough: Justin Sun’s TRX To Reach Ethereum Network

Ronaldo Marquez
Ronaldo Marquez
2 years ago
3 mins read
Bittorrent

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Justin Sun, the founder of the Tron blockchain, has announced that the Tron network’s native asset, TRX, can now be fully accessed on Ethereum (ETH), the largest altcoin network in the cryptocurrency industry. This has been made possible through the BitTorrent Bridge, which allows for seamless interoperability between the two blockchains.

 BitTorrent Bridge Paves The Way To Ethereum Integration

Interoperability in the context of blockchain refers to the ability of different blockchains to communicate and exchange information with each other seamlessly. In this case, the BitTorrent Bridge enables Tron’s native asset, TRX, to be transferred and accessed on the Ethereum network, and vice versa.

Related Reading: Litecoin Breaks $95 As Whale Transactions Spike

This means that TRX holders can now access the larger Decentralized Finance (DeFi) market and decentralized applications (dapps) available on Ethereum, while Ethereum users can now access TRX and its associated dApps on the Tron network. The BitTorrent Bridge acts as an intermediary between the two blockchains, facilitating the transfer of assets and data in a secure and decentralized manner.

The move is a significant development for the Tron ecosystem, which is currently the second-largest DeFi ecosystem with over $5.6 billion in total value locked and more than 2.9 million active users, according to DeFiLlama data.

Justin Sun’s tweet regarding the Ethereum expansion via BitTorrent Bridge has already had a positive impact on TRX’s price, with the asset jumping by 2% following the announcement. This further demonstrates the potential for Tron to expand its reach and appeal to a wider audience in the cryptocurrency industry.

Bittorrent
TRX’s recovery on the 1-day chart after a sharp decline. Source: TRXUSDT on TradingView.com

With Tron’s expansion to Ethereum, the cryptocurrency industry continues to see the growing importance of interoperability between different blockchains. As more projects explore the potential of cross-chain functionality, the industry is likely to see further development and innovation in the coming years.

TRON Sets New Daily Transaction Record

Despite the challenges faced by the cryptocurrency industry in recent months, TRON has continued to perform strongly, defying expectations and posting impressive growth. According to a Twitter thread by Justin Sun, the network hit a new record high in daily transactions, processing over 10 million transactions in a single day.

Bittorrent
Tron’s daily transactions record high. Source: Justin Sun on Twitter.

Furthermore, Sun notes that the robust performance of the TRON network is a result of its quality and efficiency, as well as its ability to continuously improve and deliver concrete results.

Looking ahead, TRON has set an ambitious target for the year, aiming to double its transaction volume. Sun emphasizes that this increase is not just a measure of quantity, but also a reflection of the network’s ability to maintain its strong fundamentals and generate revenue even in a challenging market.

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Moreover, the growth in TRON’s transaction volume is expected to further bolster protocol revenue and demonstrate the strength of the TRON ecosystem. As the cryptocurrency industry continues to evolve and face new challenges, TRON is positioning itself as a leader in the space by focusing on innovation, efficiency, and delivering results.

Featured image from Unsplash, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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