A new announcement made by TRON’s founder, Justin Sun, stated that TRON’s first decentralized exchange has just gone live. TRX Market mainly trades pairs including Tron and its Dapps.
Tron’s new TRX Market
The exchange is currently offering several trading pairs, including dice/TRX, ton/TRX, IGG/TRX, WIN/TRX, CryptoDivaFund/TRX, TWX/TRX, TronWatchMarket/TRX, SEED/TRX, CryptoGuyInZA/TRX, and CryptoChain/TRX. The above are Dapps on Tron; it will be interesting to see if the exchange will succeed regarding more high-volume pairs, such as ETH/TRX.
As of now, only numerous transactions of various sizes have made.
Decentralized exchanges: The future?
While most centralized exchanges can only be used by registered users (passed KYC/AML), the fact that they are centralized institutions is seen by many as a flaw of the crypto trading process. One of the primary keys of cryptocurrencies is to step away from centralized services, such as banks and other regulated financial institutions.
Even though the exchanges are almost equally as centralized, they were seen as necessary, at least for a while. However, many believe that decentralized exchanges are the future of crypto trading, and the logical next step on the road of reaching full decentralization. While they have their flaws, mostly related to speed, they tend to be much safer because they run on blockchain technology and the funds are not held by one institution.
While reaching full decentralization is a goal of many, DEXes (decentralized exchanges) are still somewhat rare and underdeveloped. It is because of this that TRON’s new achievement is praiseworthy, as Justin Sun and his team successfully made another move on their quest to decentralize the web.
Tron’s Price Decreases Together With Bitcoin
TRON has made a lot of headlines recently this includes breaking Ethereum’s record of daily trading volume. Tron’s dApps are creating high volumes.
Despite the latest news and along with the market sentiment, Tron’s value dropped by 12% over the past 24 hours, to a current market crash has left the price at $0.018 per coin.