BlocksInform
The 24th of January, Justin Sun, TRON. Founder, announced that St. Maarten has expressed his wishes to adopt TRON which is alongside TRON’s goals of massive adoption on a global scale.
- St. Maarten bares plans of adopting TRON
- TRX price down by 3.31%
- Price to peak by Q2 of 2023; could potentially shoot to $0.0973
St. Maarten, also spelled Saint Martin, is a country located in the Kingdom of the Netherlands in the Lesser Antilles, northeastern Caribbean Sea.
Decentralization, The Name Of The Game
TRON (TRX) refers to the decentralized open-source blockchain network that allows users to seamlessly connect with each other while also providing them access to a myriad of entertainment applications including graphics, videos, and games.
In essence, decentralisation remains at the centre of the project, which facilitates the transfer of funds between users without any interference from financial undertakings or intermediaries.
Another milestone for #TRON! St maarten's adoption of tron as legal tender marks another accomplishment for our pressure on blockchain adoption worldwide.https://t.co/HXEnouj0Le
— His Excellency Justin Sun (@justinsuntron) January 23, 2023
The contrasting factor lies mainly in TRX unique architecture, as it is dispersed into three categories or layers:
- the Storage Layer which has a distributed block storage
- the Application Layer which is mobilized by developers for creating dApps that are used for issuing tokens
- the Core Layer which consists of varied modules and smart contracts
Each layer is interconnected using a protocol compatible with several programming languages.
In addition, the network has also built its community which is encouraged towards the objective of accelerating decentralization of the Internet through the use of blockchain and dApps.
The 27th of December, the TRX community has amalgamated into the Enterprise Ethereum Alliance (AEE), which aims to promote best practices by using Ethereum blockchain technology, enable real apps and processes.
TRON As Legal Tender; Social Volume Up
With St. Maarten's announcement declaring tron as a legal means of payment, its native token has responded accordingly with measures that seem positive.
The social volume of the trx has soared, suggesting that popularity is booming. In addition, trx has also seen increased demand in the futures market, with an extremely high binary financing rate.
TRX total market cap at $5.5 billion on the daily chart | Chart: TradingView.com
However, network development activity has plummeted, as we have seen over the last few days, and this could pose problems for the network. According to CoinMarketCap, TRX price is seen to retreat by 3.31%. The chip trades at $0.06068 at the time of writing this document.
Evidently, There is so much to look forward to with TRX looking to soar in the coming days, as recent market indicators show, with crypto activity peaking in the second quarter of 2023 or reaching $0.0973.
Through St. Maarten's collaboration with TRON, TRON is tapping into the expanded, inclusive global network that can further drive the economy of the island nation.
Featured image by World Atlas
