Crypto investors will soon be able to trade using tokenized dollars. Tether and TRON have announced a collaboration to bring a TRON-based version of the stablecoin USDT, compatible with the TRC-20 standard. This would allow tokenized dollars to be transferred over the Tron network. The Tron-based USDT will be introduced somewhere around April 2019.
The TRON Network uses two different standards: TRC10 and TRC20. The TRC20 protocol is more advanced, as it allows tokens to setup smart contracts. The TRC20 standard is fully compatible with Ethereum’s ERC20 standard, which would allow for easy swaps between networks. This would explain why the move from Tether to the Tron network makes so much sense.
Tether started out as a project build on the Bitcoin network, but moved towards Ethereum’s ERC20 standard in 2017. As such, USDT has become a dominant force in the market for stablecoins. Currently Tether is the seventh biggest coin based on market cap, with a total value of just over two billion dollars.
USDT got under heavy fire in late 2018, and a number of competitors came into existence. USD Coin (USDC) is with 240 million dollars the biggest from those competitors. TrueUSD (TUSD) is valued 202 million dollars, while Paxos Standard Coin (PAX) has a market cap of $113 million. Dai and Gemini Dollar are below the 100 million dollar mark.
Originally published at NEDEROB.