TRON’s projects now include much more than just its own blockchain with a working digital currency. In addition to the purchase of BitTorrent, the TRON Foundation has announced that it intends to launch a decentralized exchange soon.
The TRON Foundation announced yesterday the launch of a first demo version of their local Exchange (DEX), called TronWatchMarket. The exchange should be completely decentralized and allow trades between TRON Tokens TRX10 and TRX20. One of the goals is to increase the complete TRON network.
Check out @TronWatch‘s decentralized exchange #TronWatchMarket. The community developers behind one of #TRON’s first fully-featured DEX just released the beta and it already looks incredible! More info here 👇https://t.co/sbjYWWRqOj
— TRON Foundation (@Tronfoundation) October 28, 2018
TronWatchMarket: Decentralized Exchange
According to the Whitepaper:
“Our previous contributions to the Tron community have proven to be valuable to the network, and we are committed to taking the next step with the development of this Exchange.”
This summer, 5 developers started with the idea to launch a decentralized Exchange. The Exchange would be built on three pillars:
“simple, secure and decentralized”.
The exchange had to be completely decentralized in this case and no hybrid decentralized exchange, such as Binance for example.
On the TronWatchMarket Trial Network, all trades are signed with the help of a Smart Contract. For the time being, no real digital currency is used until the Exchange finally runs on the Mainnet. Furthermore, there will be bots for the test phase that trade on the exchange to simulate real-time market conditions.
TRON: One step further
TRON also states that they want to promote TRON’s adaptation and bring the spirit of blockchain technology to the world:
“We want to see Tron, and projects that build on Tron, succeed. We believe we have a good plan and a great team, and with your help we will create the awesome decentralized exchange.”
The company continues to invite all TRON supporters to contribute to the further development of the exchange. A first live demo can be viewed here. There is no launch date available yet.