Tron And Waves Partner To Push DeFi Mass-Adoption


Tron has partnered with Waves to connect the two respective blockchain networks called Solidity and Ride to push mass adoption in the decentralized finance (DeFi) field.

All TRC-20 tokens will be available on the Waves blockchain and vice-versa with the assistance of the cross-chain communication network – Gravity.

TRON Partners With Waves

According to a press release shared with CryptoPotato, Tron and Waves aim to resolve one of the main issues within the DeFi space. While the statement highlighted the growing adoption and use cases of DeFi protocols, it also brought up a strong barrier to mass adoption – the “fragmentation of blockchain systems and the lack of inter-chain communication between different products and services.”

The cryptocurrency and DeFi space, in particular, require deeper integrations to achieve further success. As such, Tron and Waves have decided to collaborate, which marks a “major stepping stone on the endeavor to unite all blockchains.”

Although the idea of merging their respective DLT networks sounds like a step in the right direction, the two blockchains are fundamentally different. Both have different wallets (TronLink and Keeper) and smart contract languages (Solidity and Ride).

This is where the blockchain- and token-agnostic oracle and cross-chain communication network Gravity comes into play. The Gravity protocol will “support the two smart contract languages: Solidity and Ride.”

Tron, Waves, and Gravity Collaboration. Source: Tron
Tron, Waves, and Gravity Collaboration. Source: Tron

What Will Result From The Partnership?

The bridge provided by the Gravity protocol will allow all respective tokens currently running on either the Tron or the Waves networks to work on both chains to achieve deeper inter-chain connectivity.

In other words, tokens such as Tron’s native cryptocurrency TRX, BitTorrent’s BTT, JST, and all other TRC-20 coins such as Tron-USDT will be available on the Waves blockchain via “seamless decentralized gateways (Gravity swap).

They will also be listed on Waves’ decentralized exchanges (DEX) like waves.exchange. Consequently, traders and developers from the Waves ecosystem will be able to trade, hold, and use TRC-20 tokens.

Conversely, tokens employing the Waves network (WAVES, USDN, NSBT, WEST, and more) will be available on the Tron blockchain and automatically listed on Tron’s DEX and DeFi services.

Another outcome of the strategic partnership will enable developers from both ecosystems to create cross-chain decentralized applications (dApps), which will work simultaneously on both networks and will be expandable to other chains via Gravity.

The announcement also noted that “the scope of cooperation between Waves and Tron is not limited to the above list of integrations, where research and prototyping are already in progress. We believe that the Tron and Waves ecosystems have the potential to revolutionize the inter-chain DeFi industry by pioneering and expanding this trend to other blockchain ecosystems.”

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.




Source link