- TRON has announced the start of the beta phase of the decentralized mortgage and profit platform DeLoan.
- Users can now log on to the official site and put DeLoan’s features to the acid test.
The market for decentralized financial services (DeFi) is expected to grow strongly this year. Many experts in the industry see DeFi as the future of the financial world. It offers a decentralized environment in which there are no middlemen and therefore no restrictions or additional fees for various services.
TRON has been working for some time on the development of DeLoan, a decentralized mortgage platform based on the TRON blockchain. A few hours ago the start of the beta phase was announced.
Users can register for DeLoan
TRON announced the start of the beta phase of DeLoan via a press release on the company blog. DeLoan is a distributed TRX mortgage platform where users can borrow stable currency CRDs through pledged TRX assets. A CRD, the full name is “Credit”, acts as a stablecoin and is worth 1 USD, similar to DAI from MakerDao or USDT from Tether.
The project is currently being piloted on the Nile test network. TRON describes the functionality as follows:
THE CORE FUNCTIONALITY OF THIS PROJECT ALLOWS USERS TO OBTAIN USD-LIKE STABLECOIN BY MORTGAGE TRX WITHOUT TRADING TRX DIRECTLY FOR USDT IN THEIR HANDS. THE ABOVE DELOAN, CRD, DLN ARE THE CURRENT TENTATIVE NAMES.
The main currency of the platform will be the DLN Coin (abbreviation for DeLoan) and will be used mainly as a DeLoan payment means for loan interest and as a blocking vote. DLN will also be used as a key parameter on the platform, e.g. to change loan interest rates, so that decentralised autonomy can be achieved. So far CRD can only be purchased with TRX Coins. However, DeLoan plans that CRDs can also be purchased with other cryptocurrencies such as Bitcoin and Ether in the future.
From now on it is possible to test the beta version of DeLoan. However, currently only access via a desktop computer is supported. Detailed instructions on how to register and use DeLoan can be found in the linked press release.
DeFi grows and prospers
The market for decentralized financial economics is large, but the majority of existing projects are still based on the Ethereum blockchain. At the time of writing, USD 794.4 million, circa 4148 ETH, are locked in all Ethereum-based DeFi projects.
Another forward-looking project is Chainlink, which is considered a catalyst for the further development of DeFi. Chainlink has developed oracles that enable a secure and reliable connection to off-chain resources. This allows data and systems to be accessed outside the blockchain.
This enables off-chain connectivity for Ethereum smart contracts by providing external connection points (APIs) to data providers, web APIs, enterprise systems, cloud backends, IoT devices and payment systems through Chainlink.
In addition to Chainlink, Tezos also plans to enter the DeFi market and establish StakerDAO. This decentralized autonomous organization should make it possible to combine the world of decentralized finance with decentralized governance. Tezos CEO Jonas Lamis describes that a decentralised decision-making model has many advantages over strict centralised control:
AT THE SAME TIME, I WAS WATCHING GOVERNANCE EVOLVE ON TEZOS AND ON MAKERDAO AND SAW THAT HAVING A COMMUNITY OF INFORMED AND INCENTIVIZED DECISION-MAKERS GUIDING THE LONG TERM GROWTH OF PROJECTS IS LIKELY A BETTER MODEL THAN TIGHT CENTRALIZED CONTROL. I PUT THESE TWO CONCEPTS TOGETHER TO DESIGN STAKERDAO.
The original concept was already presented at the end of October 2019. The project is expected to be published in the first or second quarter of this year.
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Last Updated on 20 January, 2020
Steemit & Tron Partner Up, What Will Happen Next?
- Steemit has announced at the end of last week that it will be partnering up with the Tron platform.
- The two companies will start working together in order to solidify Steemit and it’s blockchain-based decentralised applications with the blockchain on Tron.
The decentralised blockchain-based social media platform, Steemit announced at the end of last week that it will be partnering up with the Tron decentralised platform. The two companies will start working together in order to solidify Steemit and it’s decentralised applications with the blockchain with Tron.
The official release revealed that the two firms are set to use both of their services and products to help users. The Tron Foundation is bringing on board more than 20 million users to access services and products which are being offered by Steemit.
However, on the other hand, Steemit is going to be bringing in more than 1 million users into the community. This is, of course, a massive difference however, the two bodies will be offering different services to the users in question. This partnership will result in a strategic alliance between both Steemit and Tron.
As it is a social media-based website, Steemit rewards its users with the STEEM cryptocurrency for making content published on the website.
TRON Virtual Machine To Get Three New Features
- TRON’s CEO, Justin Sun, tweeted that the TRON Virtual Machine will get three new features as proposal number 32 was approved.
- Justin Sun and the TRON foundation’s moves have changed a lot of things in the virtual machine system.
TRON’s CEO, Justin Sun, tweeted that the TRON Virtual Machine will get three new features as proposal number 32 was approved. The new features of the TRON virtual machines will be support for parallel signature verification, multiple signature verification, and judge whether the address is the contract address.
TRON is one of the largest blockchain-based operating systems around the world. TRON has a high throughput, high scalability, and high availability.
TRON also has a wallet that supports TRX and other tokens on the TRON mainnet, which is available to download for various clients through their website.
The explanantion of the new features is given below:-
- Support parallel signature verification in TVM: The keyword that is to be used in the contract for parallel signature verification is ‘batchvalidatesign’.
- Support to judge whether the address is a contract address in TVM: The developers may face the problem of calling another contract in a contract, in the development of smart contracts. But in some contracts, the contract may not want to be invoked by any other contracts. This call can be restricted, and that can be done by using the ‘isContract’ command.
- Support multi-signature verification in TVM: The TRON blockchain supports the feature that lets an account use the multi-signature feature, and this is used a lot of time in scenarios such as permission control. Now the Virtual machines will also support the multi-signature feature. But the multi-signature will only support a maximum of five private key signatures.
This will further enrich the application scenarios of smart contracts. Justin Sun and the TRON foundation’s moves have changed a lot of things in the virtual machine system, and the users with open arms have welcomed these new features.
Tron News Today – Headlines for February 21
- Tron has lost more than 10% in the last 24-hours
- The coin has continued to slip amid an overall poor sentiment
- Justin Sun’s acquisitions to boost adoption haven’t paid off
Tron News Today – digital currency protocol, Tron’s price has dropped by over 10% in the past 24- hours, has today continued to slip even further down the charts in its ranking. The digital asset which wasn’t ranked among the top ten largest coins by market cap until recently has dropped to number 15 since this decline began. The most recent results for Tron have come despite the continued efforts of Justin Sun to foster growth in the Tron ecosystem with many new acquisitions.
Stiff Competition for Tron
Sun’s efforts to see that his brainchild Tron becomes a success once more has instead ensured that Tron’s native token TRX rallies only in the short-term. It appears that the digital asset has then withdrawn after the news of the decline phased out. What this implies is that even though the digital asset manages to perform well and enjoy some ‘bullish occasions’, it also nearly finds it difficult to extend this situation or climb higher. It lacks consistency.
In contrast, competitors Tezos and Chainlink have been consistent. After many weeks of rallying, both digital assets have successfully ensured that their market cap rose and now they are now sitting above Tron in the list of largest coin’s by market cap. Tezos has outdone other popular coins like Cardano and Stellar, to climb into the top ten. Meanwhile, Chainlink is just at the number 12 position with Cardano above it.
But Tron, on the other hand, could be phased out if it doesn’t rise and act more competitive against the other coins. Just like Ethereum Classic, NEM and IOTA, which were once ranked high but now only feature above number 20, Tron could act like these and follow their trend.
Sun’s Acquisitions Haven’t Paid off
Finally, the main reason why Sun’s acquisitions phase-out quickly remain to be seen. While the Tron chief continues to expand his coin’s ecosystem (as we can see from his previous acquisitions), none of these have paid off in a huge way. And with no long term plan, the projects he acquired or partnered with means nothing. These projects only create hype for the network which in turn drives in just short-term gains for TRX.
The only project that has long-term strategic partnerships is Ripple. Ripple looks for other protocols that make sure adoption comes to XRP as well as more use cases. In most instances, the XRP digital currency doesn’t make short term change. However, space places more trust in it especially on notions that it will come to the top for the long-term.