- Tron’s chief hints at bringing a wrapped version of BTC to Tron
- Justin Sun would bring BTC’s value to Tron’s DeFi space with such a move
- The move would also capitalize on Tron’s cheaper and fast network
Tron News Today – Tron chief, Justin Sun has hinted at the possible launch of a wrapped version of BTC on Tron. The implications of such a move wow benefit the Tron ecosystem. It would bring BTC’s value to Tron’s DeFi space. The move would also take full advantage of the efficiency of Tron’s network which includes cheaper rates and faster transaction speeds. The CEO and Founder of the Tron network hinted that the Tron Foundation will bring a wrapped version of Bitcoin to Tron via a tweet. Sun had been asked to bring Ether’s value to Tron as well.
Sun Had Been Asked to Bring Ether’s Value to Tron’s Ecosystem
Sun was reportedly responding to a tweet when he gave a hint of the Tron Foundation’s next move. He was initially asked in a tweet to transfer some of TRX’s bullish momentum to Bitcoin (and that was when he made the tweet that the Tron Foundation will launch a wrapped version of BTC on the Tron network).
Tron Chief made the post after Tron appeared to have escaped yesterday’s crypto sell-off. That well-off saw Bitcoin decline to as low as $9,970 on Binance exchange. Sun’s comments about launching a wrapped version of BTC on the Tron ecosystem comes just days after a Tron community member called Mike McCarthy, requested that Sun brings Ethereum’s value to the Tron ecosystem. The community member requested the issue with Ethereum’s gas fees and increased activity on the network.
What Benefits Would Wrapping BTC and ETH offer the Tron Network?
As mentioned above, the Tron ecosystem has been hailed as one of the most efficient networks compared to the Bitcoin and Ethereum network. As of when this content was written, TronScan claims that the Tron network can complete a maximum limit of 748 transactions in one second. Meanwhile, for transaction fees, TronScan posited that the simple transactions on Tron are free.
When it comes to smart contracts, the total cost for each smart contract call is cheap when compared to what is offered on Ethereum. It can also be summed up beforehand. Hence, it would be an excellent move to tokenize both BTC and ETH on the Tron ecosystem. This would be beneficial highly for the DeFi sector in the Tron space. Wrapping the two major digital assets on Tron would also be ideal for DApps that like to get the value of Bitcoin and Ethereum. They will also be able to enjoy the speed and low costs of operating on Tron.
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.
