Helped by the interchain oracle Gravity, TRON and Waves will join forces to open up their DeFi ecosystems to one another’s set of token holders
Tron has partnered with Waves to connect two respective blockchain networks, Solidity and Ride, to promote mass adoption in the decentralized finance (DeFi) sector. Using the Gravity protocol, Tron and Waves will connect their blockchain networks to provide access to all services on both chains.
#TRON and @wavesprotocol are establishing a bridge through Gravity which will allow both ecosystems to enhance access to services for two userbases.#TRX #Waves https://t.co/59Wp9rZrfk
— Justin Sun (@justinsuntron) August 13, 2020
Tron teamed up with Waves
All TRC-20 tokens will be available on the Waves blockchain and vice versa with the support of the Gravity communication network. Tron and Waves aim to solve one of the main problems in the DeFi space. While the statement emphasizes the increasing use and use cases of the DeFi protocol, it also creates a substantial barrier to mass adoption – the fragmentation of blockchain systems and the lack of inter-chain communication between different products and services.
In particular, the cryptocurrency and the DeFi space require deeper integration to achieve even more success. Consequently, Tron and Waves decided to cooperate, which marks a significant stepping stone to the attempt to consolidate all blockchains.
Although the idea of merging their respective DLT networks sounds like a step in the right direction, the two blockchains are fundamentally different. Both have different wallets (TronLink and Keeper) and smart contract languages (Solidity and Ride). This is where the blockchain- and token-agnostic oracle and cross-chain communication network Gravity comes into play. The Gravity protocol will support the two smart contract languages: Solidity and Ride.
What will be the results of the partnership?
The bridge powered by the Gravity protocol will allow all corresponding tokens currently running on the Tron or Waves network to operate on both chains to achieve a deeper inter-chain connection.
In other words, tokens like Tron’s TRX native cryptocurrency, BitTorrent’s BTT, JST, and all other TRC-20 coins like Tron-USDT will be available on the Waves blockchain through seamless decentralized gateways.
They will also be listed on Waves decentralized exchanges (DEX) as wave.exchange. Therefore, traders and developers from the Waves ecosystem will be able to trade, hold, and use TRC-20 tokens.
In contrast, tokens using the Waves network (WAVES, USDN, NSBT, WEST, etc.) will be available on the Tron blockchain and automatically listed on Tron’s DEX and DeFi services.
Another outcome of the strategic partnership will allow developers from both ecosystems to create cross-chain decentralized applications (dApps), which work simultaneously on both networks and open to other strings through Gravity.
The announcement also noted that:
“The scope of cooperation between Waves and Tron is not limited to the above list of integrations, where research and prototyping are already in progress. We believe that the Tron and Waves ecosystems have the potential to revolutionize the inter-chain DeFi industry by pioneering and expanding this trend to other blockchain ecosystems.”
Read more:
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- Almost 2 Billion TRX Transferred By Crypto Whales After Sun Announced Tron Will Focus On DeFi In 2020