On the heel of the myriad of blissful news about Tron since last week, founder Justin Sun has just dropped another bombshell onto the Tron community. The CEO disclosed that Tron will soon release a new Decentralized Finance (DeFi) product.
Sun said the DeFi product is slated to 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.
On 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 the 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 aligns with Tron’s mission.
DeFi is still growing, 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.
The Bitcoin network has been the longest running that offers a decentralized system, but the approach failed to provide complete decentralization. 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 number nodes on the BTFS global network has 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 pic.twitter.com/1erLF4HpUa
— Justin Sun (@justinsuntron) November 6, 2019
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.