- Tron’s DeFi will compete with Ethereum
- Tron is still lagging behind Ethereum in terms of dApps
- Tron will target the Asian markets of India and China
Tron News Today – the highly competitive drive between protocols such as Ethereum, Tron, and EOS over who becomes the leader in terms of decentralized applications (dApps) has continued to escalate into the new year. Justin Sun’s Tron protocol has managed to surpass the EOS project in terms of dApps last month. This was the first time Tron achieved such a feat. However, Tron has continued to struggle behind Ethereum’s dominance of the dApp market.
Ethereum’s DeFi apps Were the Talk of the Industry Last Year
When it comes to popularity, Ethereum‘s DeFi sector got all the attention last year. Ether’s dApp sector according to recent data, has DeFi apps valued at $1 billion on the Ethereum sector. Hence, we can agree that while the other two competitors, Tron and EOS were struggling to cut down the gap on Ethereum, the latter’s DeFi apps continued to rise in demand and value as well. According to the report, during a recent interview between Tron’s Justin Sun and Massari CEO Ryan Selkis, they talked about Tron’s ambitions and how it can become more competitive in the dApp sector and overtake Ethereum.
Additionally, regarding Tron’s DeFi ecosystem, Sun cited that his platform would target the Asian markets initially due to its huge engagement in the dApp space. However, Selkis highlighted that for Tron to possess the ability to challenge Ethereum in the DeFi sector, Tron must target specific parts of the Asian market including the likes of China and/or India, with the latter recommendation fairly hostile to crypto startups. Both Japan and Korea are active with Ethereum’s dApps. Which is why the options in Asia seem limited for Tron at the moment.
Tron’s Weibo Account Shut Down Because of a Misunderstanding
Tron’s Weibo account was shut down and responding to the situation, Sun said:
“I believe China is a pro-blockchain country. Even though they are strict towards crypto, we have an excellent relationship with the Chinese authorities.”
Sun also added that because of several misunderstandings in the past, his network’s Weibo account had to be shut down. However, there’s a strong chance that it would be re-opened very soon as Tron continues to promote some measure of positive discussions with the government and regulators of China. According to Sun, Tron has a vast number of users in China with 17 million users accounted for in the recent Tron live stream.
Sun also expanded on his company’s expansion in India. He said BitTorrent’s popularity in India would allow it, Tron, to grow its user base. BitTorrent has 20-25 million users in the country. Tron plans to leverage these users for its DeFi aspirations.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
