- Justin Sun has hinted of launching a wrapped version of Bitcoin on the Tron network
- Such a move would bring Bitcoin’s value to Tron’s DeFi ecosystem
- Furthermore, it would capitalize on the efficiency of the Tron network which is cheap and fast speeds
- Justin had also been requested to bring Ethereum’s value to the Tron ecosystem
The Founder and CEO of Tron (TRX), Justin Sun, has hinted that the Tron Foundation is ready to launch a wrapped version of Bitcoin on the Tron network. Mr. Sun was responding to a tweet asking him to transfer some of the TRX bullish energy to Bitcoin. This was after Tron (TRX) seemed to escape from yesterday’s crypto-market sell-off that saw Bitcoin drop to as low as $9,970 – Binance rate.
Justin’s tweet hinting of launching BTC on Tron can be found below.
— Justin Sun (@justinsuntron) September 3, 2020
Justin Had Also Been Requested to Bring Ethereum’s Value to the Tron Ecosystem
Justin’s comments on launching BTC on the Tron network come only days after Tron community member Mike McCarthy, requested him to bring Ethereum’s value to the TRX ecosystem. This was after Ethereum gas fees continued to skyrocket as a result of high transaction activity brought about by DeFi.
Below is the tweet making the request to Justin Sun.
— Mike McCarthy (@MikeNerdUK) September 2, 2020
Benefits of Wrapping BTC & ETH on the Tron Network
As earlier mentioned, the Tron network has been hailed as being very efficient when compared to that of Bitcoin and Ethereum. At the time of writing and according to TronScan, the Tron network can handle a maximum of 748 transactions per second. In terms of fees, simple transactions on the Tron network are free. For smart contracts, the cost for each contract call is very cheap when compared to Ethereum and can be calculated beforehand.
Therefore, it would be a very good move to tokenize both Bitcoin and Ethereum on the Tron Network. This would be particularly beneficial for the DeFi industry in the Tron ecosystem. Wrapping these major digital assets would be ideal for DApps that would like to capture the value of BTC and ETH, as well as utilize the speed and low costs of operating on the Tron network.