Cryptocurrency exchange OKCoin announced on Tuesday that it would be listing TRX, the native coin of the Tron blockchain on its platform.
OKCoin has started accepting TRX deposits from customers and trading will begin on Thursday, January 17th.
Why Is OKCoin Interested in TRX?
OKCoin noted that TRX is one of the most active digital assets in the market which has announced a ‘slew’ of new partners in 2018.
It noted its recent deals with the multiplayer online virtual reality world ‘NeoWorld’ and the Chinese internet giant ‘Baidu’.
OKCoin users were able to start depositing TRX into the exchange on Tuesday, January 15.
On Thursday, January 17th the exchange will enable trading of TRX against BTC, ETH, and USD.
OKCoin stated in their announcement that, TRX had 1,423,377 holders (at their time of writing) and that it is one of the top 10 cryptocurrencies in the world by market capitalization. TRX’s market cap currently sits at $1.64 billion.
The Life Cycle of Tron Till Date
OKCoin highlighted that TRX is one of the biggest blockchain-based operating systems globally.
OKCoin further state that Tron aims to decentralize global content, entertainment industries, and media while utilizing distributed storage technology. This reduces the need for middlemen such as the Apple App Store and Google Play store for content creators and users.
Another important aim of Tron is to help content creators generate revenues from customers without relying on third-party applications.
OKCoin also pointed out that Tron’s founder Justin Sun said that TRX will eventually go on to become a privacy coin and will help users control their personal data.
The exchange said the TRX-based operating systems could handle a high throughput, supporting about 2,000 transactions per second. The TRX coin is also scalable, which allows higher volumes of users.
OKCoin CEO Tim Byun will be attending Tron’s nITRON Summit in San Francisco on January 17th to talk about the various opportunities and challenges for crypto exchanges.