Cryptocurrency exchange ABCC has partnered with TRON (TRX), making it the first to gain rights to TRON’s TRC10 technical standard tokens.
The announcement from ABCC published on the exchange’s Twitter (Jan 15th, 2019) and then confirmed by TRON CEO, Justin Sun, who wrote: “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”
TRC10 tokens come with some advantages over the TRC20 token protocol, which is the standard that is utilized for smart contracts within the TRON blockchain and the implementation of tokens on the network using the TRON Virtual Machine (TVM).
As per the TRON developer guide, the TRC10 protocol doesn’t require the deployment of the TVM and therefore, can’t execute smart contracts, but they do offer ease-of-access for developers and have transaction fees approximately 1,000 times lower than TRC20 tokens amongst other features, making it ideal for those seeking to issue an initial coin offering (ICO) and test market interest before forking out for a programmer and launching a TRC20 token.
TRON was initially built on the Ethereum blockchain but eventually moved to its own mainnet, seeking to topple Ethereum’ supremacy with a killer Dapp ecosystem, which has been successful in the sense that many Dapps have since moved from Ethereum to TRON in recent times.
Having become the first platform to list TRC10 tokens, ABCC is indicating that the Singapore-based exchange is gaining serious traction. Most recently, the exchange was front and centre in support of the latest regulatory advancements by the Parliament of Singapore which passed the Payment Services Bill (Jan 14, 2019).
Backing the bill, CEO and Co-Founder of ABCC Calvin Cheng said: “ABCC will only invest and operate in geographies where there is regulatory clarity.”
As written on the ABCC Medium blog, the exchange had previously ranked 5th on CoinMarketCap for overall trading volume and the trading volume for ETH/USDT was the “highest in the market at one point”.
Despite having launched in an enduring bear market, the exchange has gone strength to strength and is now relishing in 24hr trading volumes of around $25 million across 100+ trading pairs.
The exchange boasts a simplistic website for ease-of-access and a user-friendly app on both Android and iOS.
The partnership between TRON and ABCC should prove fruitful for either entity; both parties are pressing to bring cryptocurrencies and blockchain technology mainstream by having innovation and accessibility at the core of their operations.
Notably, the VENA token has been named as the first TRON token to be listed on the ABCC exchange. The Vena Network is an open protocol for “tokenized asset financing and exchange”, it allows for users to transact crypto and fiat, using cryptocurrency as collateral to borrow loans. Essentially, it’s a low-cost over-the-counter transaction and collateral loan financial service.
Furthermore, TRON’s recent acquisition of peer-to-peer file sharing platform BitTorrent and the subsequent announcement of the BitTorrent Token (BTT) are certainly going to contribute to a mutually beneficial partnership.
As per the recent developments, ABCC will be supporting the gigantic BTT Airdrop for TRX token holders. Accordingly, the airdrops will take place over a six-year period on a monthly basis.
To find out more, head to the ABCC website here.
Follow BitcoinNews.com on Twitter: @BitcoinNewsCom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.