Ethereum and Tron: Joining Hands for Crypto’s Betterment
According to Tron CEO Justin Sun, this may be the company’s latest plan. In a recent interview, Sun discussed the prospects of USDT-Tron – stable coin Tether’s integration into the Tron network – which was launched yesterday on April 9. The entrepreneur and business executive commented:
We’re getting lots of interest from these institutional investors. I think we’ll do everything to fulfill their requests because when the institutional investor gets into this industry, they have lots of requests.
He also didn’t hesitate to take small jabs at the Omni blockchain and Ethereum, commenting that Tron was superior in terms of speed, reliability and cost-effectiveness:
Most of the congestion and the bad experience of the stable coin comes from the Omni blockchain because this is an obsolete solution with an extremely expensive, slow and also unreliable infrastructure for the stable coin, so once we get to this better infrastructure I think the whole blockchain community will benefit from this.
At the same time, Sun left the door open to Tron and Ethereum potentially collaborating on projects in the future. His initial comments suggested heightened competition rather than sheer animosity:
First of all, everybody knows that Tron and Ethereum compete in the Dapp [sector], for sure, but I think that this competition will definitely result in a better product. The competition between Ethereum and Tron benefits the whole industry… Right now, I’m into love – the true love, and the brotherhood of the industry, so I think that in the future, we will even collaborate with lots of the Ethereum developers and the enterprises built on Ethereum before if we make the industry better.
In the meantime, Sun is concentrating primarily on the company’s partnership with Tether, which he believes will revitalize the stable coin industry. He’s also pledging roughly $20 million in USDT-Tron currency to new investors that open portfolios through Tron’s network:
This, just like the TRX-BTT airdrop we have been doing before… We just airdrop assets to those addresses without touching any of the assets at all… The stable coin is the most important thing when we come to the infrastructure of the whole industry. I think this partnership means to the industry that in the future, USDT will be more reliable, faster and cheaper.
In the long term, it likely makes sense for companies such as Tron and Ethereum to work together. While they do compete in the dapp space, like Sun suggests, they both boast high levels of usage when it comes to dapps. Both networks have named amongst the “most active” according to decentralized application explorer dapp.com. The prowess of both industries could allegedly produce several revolutionary products that could benefit the crypto and blockchain space.