Tron News Today – Headlines for August 6

  • DeFi is Tron’s biggest keyword in 2020 Justin Sun claims
  • Decentralization is the only way digital assets can escape censorship
  • India is a crucial part of Tron’s plans

Tron News Today – Justin Sun, the founder and chief of the Tron Foundation has shown interest in India as a crucial part of the network’s plan. The founder sat down with Nischal Setty. who is the co-founder and CEO of WazirX, a popular Bitcoin exchange in India. The two cryptocurrency executives discussed India’s role in the growth and progress of the digital currency industry.

They also talked about the future and impact of DeFi (decentralized finance) systems as well as the spheres of development that the Tron Foundation is currently focused on. During the discussions, the Tron chief remarked that DeFi is the biggest keyword for Tron in 2020.

https://twitter.com/WazirXIndia/status/1290219613494509570

The Only way to Escape Censorship is Decentralization

According to Sun, Indian is crucial to Tron’s plans. India currently accounts for more than 30% of BitTorrent (another entity controlled by Sun) and μTorrent traffic. Meanwhile, the DLive streaming platform (which is based on Blockchain technology) will be available in India by year-end.

Sun stressed that BitTorrent is similar to Bitcoin as a peer-to-peer and permissionless decentralized system. He added that interest in BitTorrent or BTFS (a decentralized storage system for data run by the Tron Foundation) will only increase. The interest will be pushed by the growth of government and corporate-driven efforts to control the flow of data. Sun recalled the ongoing issue with TikTok in the United States. He argued:

“Decentralization can solve problems like what’s happening with TikTok. Take an example, the issue with the files on TikTok. If everything was stored on the BTFS platform, no one, not even TikTok will have the capacity to access the files.”

Sun also mentioned the numerous ways to earn money with Tron’s decentralized products.

DeFi is Tron’s Biggest Keyword This Year

Switching the discussion to Tron’s multi-product development, Sun remarked that the worldwide adoption of Tron’s TRX token has significantly increased this year. Sun attributed the progress of his project to support from Indian, Russian, and Turkey. Tron 4.0 launch (the latest phase of growth for the ecosystem), correlates with the adoption of Tron products by institutional investors.

Sun unveiled that the JUST platform (a Tron-based lending network) which uses the USDJ stablecoin, is now operational. It is currently been run by smart contracts without any centralization points. Finally, the Tron chief announced that JUSTSwap (a decentralized exchange native to Tron’s network), will be launched in two weeks (August 17 precisely). The platform will allow the exchange of multiple TRC-standard tokens.

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.

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