On the heel of the myriads of blissful news about Tron that has been happening since last week, founder Justin Sun has just dropped another bombshell into the Tron community. The CEO disclosed that Tron will soon release a new Decentralized Finance (DeFi) product.
Sun said the DeFi product is slated for launch this year-end.
Since exiting the Ethereum blockchain network, the decentralized-focused blockchain project has promised to be an ardent competitor to Ethereum. Subsequently, Tron has been making massive strides in the blockchain industry, and there are signs that it is actually competing with Ethereum, especially in the DApp sector.
In the same line, the launch of a new DeFi product is tantamount to stirring up the competition between Tron and Ethereum. DeFi is an open-source conventional financial tool built mostly on Ethereum blockchain network, hence the launch of a new DeFi product by Tron means more challenge for Ethereum.
Even though the details of the product are yet to be released officially, the fact that its aim is decentralization makes it tally with Tron’s mission.
DeFi is yet to be fully grown like its contemporary centralized finance system in terms of market and adoption. Still, it is challenging the centralized system by offering a scheme where people do not need to rely on central authorities.
Bitcoin has been in existence for quite some time offering a decentralized system, but the approach failed to provide a complete decentralized system. It offers decentralization for storage and issuance of money alone and not for access to the financial system. Hence, it made way for the creation of DeFi.
Active Nodes on BitTorrent File System Surpasses 3000
Also the CEO of BitTorrent File Sharing, Justin Sun has just aired that the nodes on the BTFS global network have surpassed 3000.
“Active nodes in #BTFS global network have exceeded 3000”, Sun said.
The millennial CEO added that the file-sharing protocol platform is one step closer to becoming “world’s largest and first scalable decentralized storage system.”
Active nodes in #BTFS global network have exceeded 3000, one step closer to becoming the world’s largest and first scalable decentralized storage system. It can be called the most beautiful decentralized network. #BitTorrent $BTT
Previously, after Tron sealed a deal with South Korean multinational tech company Samsung, the total number of real-time accounts on the Tron network clinched 4 million afterward.