Tron (TRX) seems to be moving from one win to the other, as they approach the main net launch. Up to this point, we have seen multiple exchanges announce support the Tron token migration. Yesterday, Justin Sun announced what could be the biggest news, as we move closer to the main net launch. Through his twitter, he announced that they have formed a partnership with both hydro protocol and Bitkop.
The Hydro protocol is a technology that optimizes decentralized exchanges to allow for crypto exchange at superfast speeds, up to 50 times faster than what other decentralized exchanges can offer. It also makes use of something called the federated liquidity protocol, to ensure that there is enough liquidity in the decentralized exchange space. That’s a major breakthrough given that liquidity is the biggest hindrance, to the growth of decentralized exchanges. On its part, Bitkop is a decentralized exchange that has been growing in popularity in the Asian markets.
So what’s the partnerships between these two and Tron (TRX) all about? The partnership between Tron and the Hydro protocol is about helping the Tron foundation perfect on technologies related to transport protocols and matching methods, in the bid to develop an open-source public blockchain. Through this deal, traders will be able to trade cryptocurrencies in a cheap, highly secure and fast environment thanks to Tron’s super high TPS and the hydro protocol Dex infrastructure.
As for the BitKop partnership, it is about supporting the Tron token migration in a decentralized exchange environment. Thanks to this partnership, anyone holding Tron tokens only needs to deposit them to the BitKop exchange, before the 24th of June to shift to the Tron main net.
What’s most interesting about these two partnerships from an investor perspective is the edge they give Tron in the emerging Dex (Decentralized exchange) space. With the increased security risks faced by centralized exchanges, it is quite clear that decentralized exchanges are the future, and Tron is right in the middle of this revolution. This is good for its long-term value growth.
The Hydro protocol deal for instance, could see the Tron network become the default network for peer-to-peer crypto trading, based on speed, security and low transaction fees. It will literary steal the shine off the Ethereum blockchain. This will further be boosted by the increased levels of trading of Tron (TRX) that will take place on the Bitkop exchange, one of the most liquid decentralized exchanges in the world. Higher volumes always lead to higher valuations, which is good for Tron investors.
In essence, these two partnerships mean that the much-awaited Tron (TRX) main net will be one of the most successful events in crypto; in recent months. It is a validation of the strong leadership of Justin Sun, in driving Tron from one success to the other. At this point it is clear that Tron will hit and surpass its target of becoming the 6th largest cryptocurrency by market cap. It won’t be surprising if they hit an even higher ranking after the main net launch. This is one crypto worth holding for the long haul.