The first month of 2019 is definitely a very busy and rich in news one for the Tron Foundation that is actively promoting its Tron (TRX) cryptocurrency.
Partnership with ABCC
Without any doubts, cryptocurrency exchanges play a vital role in the development of the entire crypto ecosystem as well as in the growth of concrete currencies. But it’s also worth mentioning that listing of this or that coin is beneficial not only for the coin itself but also for the platform as new coins can bring new clients interested in working with them.
Recently, it has become known that the cryptocurrency Tron, which is currently the ninth largest crypto in the world, has entered in a partnership with the ABCC cryptocurrency exchange that posted about it on Twitter. This information has been also confirmed by the Tron Foundation’s Chief Executive Officer, Justin Sun, via his Twitter account.
ABCC Exchange is truly an awesome platform that has witnessed great development. We are glad to partner with #ABCC as it's the first exchange listing #TRX10 tokens. #TRON #TRX $TRX https://t.co/8VO7Z2jGOY
— Justin Sun (@justinsuntron) January 15, 2019
TRC10 and TRC20
This new move by ABCC has made it the first crypto exchange to list tokens built on the base of Tron’s TRC10 technical standard. The information about listing Tron on ABCC followed the exchange’s announcement that it had started working on adding support for tokens based on both the TRC10 and TRC20 standards.
According to the Tron’s guide intended for developers, TRC10 is a technical standard for tokens, support of which can be provided by the cryptocurrency’s native blockchain without a necessity to deploy the Tron Virtual Machine (TVM).
As for the TRC20, it is a technical standard as well but for smart contracts that implement tokens with the help of the TVM. The main peculiarity of this standard is that it is absolutely compatible with a well-known Ethereum’s (ETH) ERC-20 technical standard.
Tron on OKCoin
But that’s not all the news about Tron. Starting from 17 January, trading of its token TRX will be available on OKCoin. According to the announcement, verified OKCoin users already have a possibility to make deposits. The exchange will offer the following trading pairs: TRX/USD, TRX/BTC, and TRX/ETH.
Speaking about their decision to list Tron, Tim Byun, CEO of OKCoin, said that they never list tokens considered to be securities and noted that Tron had been chosen as “it’s exciting and in demand”. He added:
“We do not have an ATS or a broker-dealer license, so we cannot facilitate the trading of securities. We made sure that TRX is used today as a utility. That there is a use case, that it passes the Howey Test, kind of laid out by the prior rulings of an SEC case, that’s the best we have.”
OKCoin is one of the first major regulated exchanges to offer Tron together with an option to make bank deposits. Nevertheless, though some new tokens can be created on Tron, at the moment the exchange doesn’t have any plans to list TRX-based tokens.