TRON (TRX) price on the rise

August 16, 2020 John Monero 0

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  • The zero knowledge proofs feature was integrated into the TRON Virtual Machine (TVM) on Friday, so dapp developers can now use the technology.
  • Next Tuesday will see the launch of JustSwap, TRON’s alternative to Ethereum’s success Uniswap.

With a price increase of 47% over the past month and 24% within the last week alone, TRON (TRX) has currently fought its way back into the top 15 cryptocurrencies by market capitalization, leaving other projects such as Monero (XMR), Cosmos (ATOM) and VeChain (VET) behind.

Probably one of the reasons for the strong performance of TRX is the positive news coming from the TRON Foundation and founder Justin Sun. The CEO announced on Friday via Twitter that the TRON network’s voting request no. 40 (proposal no. 39) was approved at 8:00 pm, August 14 (SCT), 2020. The proposal introduces the zero knowledge proofs feature to the TRON Virtual Machine as part of TRON 4.0, as Sun explained via Twitter:

The #TVM that supports zero-knowledge proof verification is a major innovation project in TRON ecosystem and another milestone in the construction of the TRON ecosystem. It is led by #TRONZ team who creatively implements zk-SNARK zero-knowledge proof verification function in TVM.

After the proposal takes effect, #DAPP developers can protect user data with the strongest privacy protection in the industry, meet users’ needs for privacy protection at all levels, and further strengthen the TRON ecosystem.

Already in June, TRON completed the public testing of the privacy protocol for its smart contracts and introduced the privacy protocol as part of TRON 4.0 in July. With proposal no. 39, the Tron Virtual Machine (TVM) will now be extended to include zero knowledge proofs.

TRON’s alternative to Ethereum’s Uniswap starts next week

In addition, TRON is also currently working to further compete with Ethereum’s DeFi sector. As Sun wrote yesterday, TRON’s alternative JustSwap to Ethereum’s Uniswap will be launched next Tuesday. JustSwap is TRON’s first decentralized exchange protocol that allows users to trade TRC-20 tokens instantly without commissions to the exchange. Users can also earn transaction fees by providing liquidity to the decentralized exchange.

In addition, the JST token, the native token of TRON’s JUST decentralized lending platform, is also proving popular. Since its launch at the beginning of May, the price of JST has risen from temporarily below USD 0.007 to currently around USD 0.07, a tenfold increase within three months.

In another development, Sun recently announced the expansion of TRON’s DeFi sector to include the BitTorrent Token (BTT). This can be earned through yield farming on TRON’s JUST DeFi platform. As reported by CNF, the analysis platform DappReview ranked JUST first in the top DeFi projects by user the week before last.


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